Do you want to start a business in Malaysia? Here in this post, we put a list of the most profitable small business ideas in Malaysia to inspire you to start your own business venture.
Malaysia is a southeast Asian country. The country is a highly open, upper-middle-income economy. The country’s economy into higher value-added activities in both industry and services. In addition, the country is a leading exporter of electrical appliances, electronic parts and components, palm oil, and natural gas.
Manufacturing has a large influence on the country’s economy, accounting for over 40% of the GDP. The 2016 edition of the World Bank’s ‘Ease of doing business’ report ranks Malaysia at 18 in the world, and the second in SE Asia – behind Singapore.
In addition, the government is moving towards a more business-friendly environment by setting up a special task force to facilitate business called PEMUDAH. The objective of the scheme is to simplify the business environment in the country. So this is the right time to start a business venture in Malaysia.
20 Small Business Ideas & Opportunities in Malaysia
Find Below a list of preferred small business ideas that you can easily start in Malaysia:
1. Start an Online Business
If you are looking for business opportunities from the comfort of your home, the online platform can be a good place to explore. There are plenty of online businesses like starting a blog, affiliate marketing, dropshipping, freelance writing, and many more. Check out our list of recommended online business ideas to learn more.
2. Restaurant Business
Malaysia is a popular place for travelers all across the world. It is also a business-friendly nation and a lot of companies are based in the country. If you find a good location, the restaurant can be a profitable business in Malaysia.
3. Amusement Park
Tourism is an important industry in Malaysia. The country attracts thousands of domestic and foreign visitors every year. So, starting an amusement park is a very promising business in the country. However, the business demands strategic planning and substantial capital investment.
Malaysia’s automotive industry is very promising. In addition, the country is the 22nd largest automotive manufacturer in the world. The immense growth in the automobile industry creates enormous opportunities for small business entrepreneurs.
5. Computer Business
Malaysia is an excellent country for computer-related businesses. There are several options in this sector. You can start a small-scale assembling business or can sell computer-related products. Furthermore, there are several computer-related opportunities you can start at home.
6. Consulting Services
Rendering professional consulting services is another promising opportunity in the country. In addition, you can start this business from home. However, you must have adequate knowledge and experience about the specific subject.
7. Electrical & Electronics
The electrical & electronics (E&E) industry is the leading sector in Malaysia’s manufacturing sector, contributing significantly to the country’s exports. And some of the major products are mobile devices, storage devices, optoelectronics, and embedded technology.
8. Oil & Gas
Oil and gas are the promising industry of the country. Furthermore, it is an exporter of petroleum products and natural gas. So you can start a business in this industry. There are several business opportunities on a small and medium scale basis.
9. Real Estate
Malaysia’s real estate market is growing. And Govt. is taking several initiatives. To make home-buying possible for people on low and medium incomes and young people, in July 2011 the Malaysia People’s Housing (PR1MA) Bill 2011 was launched. You can start a real estate business in the country in various ways.
The demand for properties in cities like Kuala Lumpur, George Town, Johra Bauru, Ipoh is rising.
10. Rubber Plantation
Rubber is one of the important natural products in the country. In addition, agricultural activity plays an important role in the country’s economy. Furthermore, rubber plantation is profitable and gives lucrative profit to the farm owners.
Tourism is a huge sector of the Malaysian economy. United Nations World Tourism Organisation (UNWTO) listed Malaysia as the 10th most visited country in 2012. Malaysia is rich with diverse natural attractions. And the country becomes an asset to the country’s tourism industry.
Transportation is another thriving sector in the country. Furthermore, it offers different small and medium scale business opportunities to entrepreneurs. However, strategic planning and the right promotion are important to get long-term success in the industry.
13. Open A Clothing Store
The people of Malaysia are mostly fashion lovers. If you have a retail space in a commercial location, starting a clothing shop can bring good profits.
14. Smartphone Repair Shop
The sales of smartphones are rising faster than ever before. Hence, it is quite obvious that the need for repairing old defective smartphones is bound to increase.
15. Airbnb Business
Travelers from outside are more and more preferring Airbnb for accommodation. If you have a property at a tourist destination, think of renting it on Airbnb.
16. Provide Photography Services
More and more Malaysians are looking for photography services to cover big events like weddings and corporate parties. If you have the necessary skills as a photographer, it won’t be difficult to get customers.
17. Sell Mobile Phone Accessories
This retail business has high potential in Malaysia. The mobile phone accessory industry is growing fast in this part of the world.
18. Coway or Cuckoo Agency
If you are a water filter specialist, starting a Cuckoo agency can be a profitable venture in Malaysia.
19. Food Truck
Malaysians having short on budget but interested to enter the restaurant business, owning a food truck business is a good alternative.
20. Car Rental Business
The business of renting cars is becoming very popular in Kuala Lumpur and other cities in the country. Starting a car rental business here can be a profitable venture.
This is a country full of business opportunities. In addition, the country provides a full business-friendly environment for startup entrepreneurs. Furthermore, it is the best place to start a business for foreigners also.
So, here are the Best Businesses to Start in Malaysia
- Start an Online Business
- Restaurant Business
- Amusement Park
- Automobile Related Business
- Consulting Services
- Electrical & Electronics
- Oil & Gas
- Real Estate
- Rubber Plantation
- Food Truck
- Car Rental
We hope, this list of profitable small business opportunities in Malaysia will help you in making an informed decision.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.