Starting your career as an entrepreneur can be very tough and challenging sometimes. There can be a number of problems that you would have to face.
However, having a good idea in your mind and a proper business plan somehow minimizes the risks to some extent.
If you are having trouble in making a decision about what idea to pursue, you can check out the following small business ideas in Malaysia for the coming year that can prove to be the best as far as the uniqueness, starting capital, risk minimization and some other factors are concerned.
Top Small Business Ideas in Malaysia With Low Investment in 2020
1. Fashion Business
Like all the other glamorous countries, the people of Malaysia also love fashion. They have a great sense of fashion. The Malaysians are concerned and conscious about their dressing and looks.
In spite of the fact that lots of fashion brands and outlets are already there in the country, there is still enough scope for new investors to bring better fashion sense.
If you are planning to purse this idea for running your business in Malaysia, do not forget the significance of their local fashion.
For that you need to have a deep knowledge and know-how of the country’s local fashion. Getting into this field can be the top small business opportunity in Malaysia in 2020.
2. Smartphone and Personal Computer Repairing Startup
It can be an outstanding example of small business in Malaysia. More than 50% of the adults in Malaysia own PCs or smartphones.
It means that there is a great opportunity for such kind of businesses that can assist in fixing the problems with various devices like laptops, smartphones, etc.
Most of the people want their faulty devices to get repaired rather than being thrown away. Therefore if you have a skill to repair the latest mobiles and other devices that you have an outstanding opportunity to start your own business in Malaysia.
3. Oil and Gas Business
In the list of resources that are the most beneficial for Malaysia from the point of view of emerging industries, oil and gas are on the top.
Moreover, the economy of Malaysia also depends largely on the export of natural gas, petroleum products, etc. Starting a business in this particular industry would surely be a great idea.
4. Ecommerce Store
In the list of small business in Malaysia, the business of an e-commerce store always remains one of the best options.
It does no matter that whether the person starting this business owns his own website or not. He/she can also get the services to sell the products from a reputable website for online shopping. Lazada and Best Buy are popular in Malaysia.
In the coming year, there will be lots of such opportunities to start an online business in Malaysia. Initially if you do not have a lot of budget that can let you launch an ecommerce store of your own, there are a number of reliable online stores that can help you sell your products.
5. Professional Services
In Malaysia, lots of new businesses are emerging on small scales with every passing day. Therefore, the professionals of business are supposed to have a continuously growing market in 2020 that they need to cater. Most of the small scale business owners need the help of accountants and other professionals to manage their matters.
Therefore, if you are good at accounting or any other similar field, you can start earning some handsome amount of money even in the starting days of your business. It is one of the best small business ideas in Malaysia to pursue in 2020.
6. Rubber Plantation Business
In Malaysia, rubber is another important product found naturally. Additionally, the agricultural activities play an essential role in the economy of the country.
It is a very profitable and lucrative business to choose in Malaysia especially if you are a farm owner. It can be a great home-based business opportunity in Malaysia.
7. Online Hotel Booking Business
Malaysia is a beautiful state and this is one of the reasons that tourism is steadily growing in the country. The two alluring islands in Malaysia named the island of Borneo and Malay Peninsula attract the tourists from all over the world.
The beaches, rain forest and other splendid sights lure a great number of foreigners to visit Malaysia. This gives a background for the significance of the business of online hotel booking in the country.
You just need to have some partnerships and links with most of the nearby hotels that are situated in the country. The payment will be on the basis of their terms and conditions and your agreement. It can be an excellent online business opportunity in Malaysia for 2020.
8. Business of Micro finance services
Many new businesses are being introduced in Malaysia these days. These businesses definitely need some proper funding in order to thrive and continue in the long run. The business owners can get this funding from various microfinance banks.
Therefore, the microfinance banking is a booming business opportunity for various investors in Malaysia. Having knowledge and some experience in the field of accounting and finance, you can start this type of business easily.
9. Real Estate Business
The real estate market of Malaysia is growing continuously. The government is also taking numerous initiatives.
There was a bill launched in Malaysia in July 2011, named PR1MA Bill; it was meant for making it easier for the people to buy houses who have low or medium incomes. You also have an option to start such kind of real estate business in Malaysia through different ways.
10. Affiliate Marketing
The business of Affiliate marketing is always greatly renowned throughout the globe. However, in Malaysia the number of affiliate marketers is lesser as compared to those in other countries.
The process of affiliate marketing basically lets you earn your commission by selling the products or services of a third party. There are several websites for affiliate marketing that you can join to start the business.
Some other small business ideas in Malaysia for 2020 are as follows:
14. Mobile phone accessories business
16. Pet related businesses, etc.