Malaysian Small Business – Setting Up in Malaysia. Malaysians are generally open to exploring new business. Depending on the industry, all forms of entry modes are allowed (100 per cent or majority ownership). It is best to get to know the market and the key players prior to deciding on a partner. Legal documentation is also necessary should a partnership be formed to protect the interests of both parties. Depending on the industry, a local partner may be necessary to facilitate doing business in Malaysia. For example, many government procurement projects require a certified ‘bumiputra’ status company with prior approval from the Ministry of Finance before a business can be considered for the project. Right now, aspiring entrepreneurs all across the country are planning their paths to business ownership. If you think you’re ready to start your business, here’s a an overview of resources you may need to use in order to make it happen.
Malaysian Small Business Setup – Banks
Banks in Malaysia. While many entrepreneurs put their own money into their new companies, it’s very possible that you’ll need financial assistance. A commercial loan through a bank is a good starting point, although these are often difficult to secure. The following banks provide full banking services in Malaysia:
- Malayan Banking – Commercial
- Public Bank Berhad – Commercial
- CIMB – Commercial
- RHB Bank – Commercial
- AmBank – Commercial
- Hong Leong Bank – Commercial
- Bank Rakyat – Commercial
- Affin Bank – Commercial
- Alliance Bank Malaysia – Commercial
- Bank Islam Malaysia – Commercial
Malaysian Government, Business and Trade
Government, Business and Trade. To become an officially recognized business entity, you must register with the government. Corporations will need a document, which includes your business name, business purpose, corporate structure, stock details and other information about your company. Otherwise, you will just need to register your business name, which can be your legal name, or the name you’ve come up with for your company. The Malaysian Government, Business and Trade organisations are:
- Department of Environment – www.jas.sains.my
- Kuala Lumpur Regional Centre for Arbitration – www.klrca.org.my
- Kuala Lumpur Stock Exchange – www.klse.com.my
- Malaysia Australia Business Council – www.mabc.org.my
- Malaysian External Trade Development Corporation – www.matrade.gov.my
- Malaysian Franchise Association – www.mfa.org.my
- Malaysian Industrial Development Authority – www.mida.gov.my
- Ministry of Agriculture – www.moa.gov.my
- Ministry of International Trade and Industry – www.miti.gov.my
- Multimedia Super Corridor Malaysia – www.msc.com.my
- Royal Customs and Excise Dept of Malaysia – www.customs.gov.my
- Securities Commission of Malaysia – www.sc.com.my
News and Media in Malaysia
Media – Malaysia Small Business. Newspapers and Radio News
- Malaysian National News Agency – www.bernama.com
- Malaysia’s White & Yellow Pages – www.yellowpages.com.my
- The Edge Daily – www.theedgemalaysia.com
- The Star – www.thestar.com.my
- New Straits Times Press – www.nst.com.my
- NSTP e-media group of publications – www.nstp.com.my
Malaysia and ASEAN – Asia (AEC)
Malaysia – ASEAN Ten Countries (AEC) which comprises of all the major nations in Southeast Asia. The goal of establishing Asean Economic Community (AEC) is to transform the region into a single market and production base with a highly competitive advantage to make it a stable and prosperous region. The countries are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. You can find 20+ more countries in Asia information by following the link. Return to our Brunei, Indonesia, Malaysia, Philippines, Singapore main page to find more regions and posts about entrepreneurs and small business in Asia and around the world.
If you liked this post, you may also be interested in reading:
– Doing Business in Malaysia
– Award-winning Malaysian entrepreneurs to share stories
– Malaysia Franchise Opportunity
– Malaysia Jobs for Foreigners
– Malaysia Online Video Marketing Guide
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