Running a business from home is not exactly something novel. But technological advances in recent years have boosted its development and proliferation, and the Covid pandemic has shifted shopping from brick and mortar to online at a substantial rate, hence giving another boost to home-based entrepreneurial operations. On top of saving on overhead expenses, a huge benefit of running a business, namely online, from home is the freedom (and with Covid, safety) of not being physically present to serve customers.
Company Registration Malaysia
Brick and mortar or online, establishing a business is both challenging and rewarding at the same time. Therefore, before proceeding with company registration Malaysia, a few important strategic details should be addresed, such as:
Nature of Your Product and Business
Before you open company in Malaysia for a home-based operation, determine your business nature and what products or services you want to offer to customers. Thirteen home-based business ideas have been listed by shopify.com for your consideration:
- Buy products in bulk and sell them online
- Sell homemade products
- Start a dropshipping store
- Start a print-on-demand business
- Offer online services
- Teach online classes
- Productise your service or expertise
- Grow an audience you can monetise
- Buy an existing eCommerce business
- Start a subscription box business
- Get involved with pets
- Sell unwanted items
- Play video games
Research Your Competition
With what you think you might likely want to sell in mind, research the businesses selling similar products or services to:
- find out and learn from what they are doing; doing well; doing poorly
- explore a unique selling proposition that differentiates your products and brand from your competitors
Registering and Running a Business in Malaysia
For a home-based business, sole proprietorship or LLP or Sdn Bhd is usually the entity of choice for entrepreneurs. Each comes with its own advantages and disadvantages and an operator will need to decide which suits his or her current needs best, before submitting an application to the Companies Commission of Malaysia or Suruhanjaya Syarikat Malaysia (SSM), which is the statutory body that regulates corporate and business affairs in Malaysia.
After successfully registering a new company, you may need to acquire one or more of the following licences, depending on the nature of your business:
- Broadcasting, communications or e-commerce licence from the Malaysian Communications and Multimedia Commission (MCMC)
- Halal Certifications, Food Handling Permits, Health & Safety Permit from the Halal Certification Body (JAKIM) and the Ministry of Health (MOH)
- Sales Tax Licence from the Inland Revenue Board of Malaysia (LHDN)
The Ministry Of Entrepreneur Development’s BLESS licensing portal or Pihak Berkuasa Melesen (PBM) is Malaysia’s one-stop licence application and submission platform.
A professional corporate services firm such as VentureHaven can help you open company in Malaysia and acquire other necessary permits with the relevant authorities to save you valuable time and effort.