Make Sure That You Choose a Profitable Business in Malaysia Before You Invest Your Money in This Country
The economy of Malaysia is expected to grow in 2019, and the GDP of the country is predicted to be at 4.9% in the same year. Their economic growth is backed by the top trends of housing units that are growing, more semiconductor imports and increased precious imports of non-ferrous and precious metals. The sectors of retail, wholesale, and trade services are predicted to grow moderately in 2019 while Malaysia has had positive conditions for businesses in the last couple of years. Aside from that, these trends are growing yearly. Therefore, a lot of feeling the appeal in making an investment here. That is the reason why Malaysia is a hotspot of businesses and excellence. In case you want to form a business there, you need to read about what the most profitable business they have.
Similar to glamorous countries, the people in Malaysia are big fashion fans. Their fashion sense is excellent and they are concerned and conscious regarding their looks and clothes. Even if there are a lot of fashion brands and outlets there, there is still enough room for foreign investors to introduce a new fashion sense.
In case you are thinking of pursuing this idea for a business in Malaysia, remember that their local fashion is very significant. You need deep knowledge about the local fashion in Malaysia. Entering this field is a huge business opportunity for 2019 in Malaysia.
Malaysia is among the top 10 tourist spots and its tourism industry is the main contributor in their economy. The tourists who visit Malaysia increases yearly, making it a sector that is attractive and profitable. Even if your budget is not big, you are allowed to establish a small café or restaurant that has a theme which attracts tourists or buy a food truck to become be part of Malaysia’s street food culture.
If you want to have your own brand, you need to open an e-commerce store. It is not hard and costs very little compared to having a physical shop. You have to pay for a domain name and hosting, look for a company that specializes in web design to help you in setting up an online store. They are equipped with a reliable and secure payment gateway, and you are good to go.
The difference between selling on social media and having an e-commerce store is a payment gateway. It is a professional that asks your customers to pay money into your account when they buy a product. Using a payment gateway gives buyers the confidence to purchase from you. Aside from that, Credit Cards have a reward point or cash rebate using their banks, therefore some people would rather use their Credit Card for online payment.
Oil and Gas
Among the most beneficial resources in Malaysia from emerging industries, the ones on top are oil and gas. Aside from that, Malaysia’s economy largely depends on exporting natural gas, petroleum, etc. Opening a business in this industry is definitely a good idea.
Malaysia has an indefinite number of small and medium-sized enterprises, and a lot of them are lacking the right access too basic credit services and savings. They have a need for microfinance services, and you can have your own microfinance institute with enough capital. You should also have enough knowledge of banking and finance. Malaysia has a business hub that supports people with their finances that makes microfinance business an ideal venture.
A lot of new businesses emerges on small scales with a passing day. Therefore, business professionals are expected to have a consistently growing market during 2019 that need to be catered to. Majority of small-scale business owners require an accountant’s help and professionals deal with their matters.
Therefore, if your accounting skills are reliable, you can earn a huge amount of money right from the start of your business.
Graphics Design Services
If you are talented in art and designing, you can start a company that offers these services. Your talent can also be put to good use, and you will earn a lot from it. You can offer logo design, web design, and business cards design. This will most likely grow during the next years while Malaysia has hundreds of businesses that are trying to be successful online.
Fast foods are popular in Malaysia, which is why there are big opportunities for businesses like these in their country. You can start a business that sells ice cream, snacks, and yoghurt. It is easy to start a fast food business in Malaysia because you also do not need a huge capital for it. Therefore, you can make money here, and you can be a Malaysia native or not.
Rubber is an important product that is naturally found in Malaysia. In addition, agricultural services have an important role in their economy. A rubber plantation is a lucrative and profitable business to have in Malaysia, especially if you have your own farm.
There are businesses that do not require you to leave home. You can try tutoring, owning a parlour and spa, a baking business, laundry services, child or elderly care, and a lot more. You can start at home and if you want to expand outside, you can do that as well.
These are the top 10 most profitable business in Malaysia this 2019 you should watch out for. Before starting any business, make sure that you have done your research to avoid mistakes and wasting money.