Regarded as a quiet economic player in Southeast Asia, Malaysia is still seen as a future powerhouse in the region. It may not be as wealthy as Singapore, as big as Indonesia, or as popular to tourists as Thailand, but its economic growth continues to skyrocket. As of August 2014, Bloomberg reported that Malaysia is the first country in the region to raise its benchmark rate this year. This was attributed to the steady rise in investment, private consumption, and overseas demand for Malaysia's exports.
It is not surprising that Malaysia is Southeast Asia's third-largest economy. A strong economy, liberal equity policy, enticing tax incentives, efficient highways, airports, and seaports -- all of these and more combine to make Malaysia truly a great location for doing business in Asia.
Another advantage of establishing your venture in Malaysia is its highly strategic location. It is right next to Singapore (just 1 hour away by plane), which houses more than 7,000 multinational corporations. The cost of living and business operating costs in Malaysia are much lower compared to Singapore.
Why You Should Consider a Serviced Office in Malaysia
A great way for you to save money is by getting a serviced office in Malaysia. Serviced offices are maintained by a facility management company and rented out to other businesses. They are frequently located in major cities' central business districts, such as Kuala Lumpur. Offices are readily available, fully operational, and offer various adjustable room configurations.
Serviced offices provide the bare necessities in running a business and have optional extras. A business can get plenty of bang for their buck because modern serviced offices feature state-of-the-art fixtures and facilities that it probably cannot benefitfrom by itself.
Well equipped, expandable rooms
Renting a Malaysia-based serviced office can help you cut down on business costs since there's no need to pay application fees for Internet and telephone connection, as well as budget for furniture and other important office equipment. A serviced office also comes with a shared kitchen and toilets.
Devices, housekeeping, and maintenance included
You won't have to worry about spending money on items like photocopiers, network printers, and fax machines because tenants have communal access to these. Setting up and maintaining them is overseen by the management company.
There is a well-lit Reception area with trained administration staff. Your business doesn't have to be concerned with looking for, training, and compensating them because their service is already included in the monthly fee.Maintenance and housekeeping is also none of your worries since its part of the package.
Pay for what you actually use
Your monthly invoice is inclusive of rent, utilities, reception costs, security costs, maintenance costs, insurance, and applicable taxes. You might not make overseas calls, use mail and fax services, ask for delivery services, or require a meeting/conference room every single day, so why pay a fixed amount for it? With a serviced office, the ‘pay as you use' basis is followed. You can save costs because you won't have to pay for things that your business can survive without. If you request for secretarial assistance, you'll be billed for the actual time worked, rather than monthly staff salaries.You may even receive some privileges for free.
The sharing features and pay-as-you-use basis of serviced offices help businesses save by nearly 78% (based on the UK Chartered Institute of Purchasing). Now, you can test whether your business can ride the booming Malaysian market within as few months as you wish by getting a serviced office. This is because, compared to traditional buildings that require a long-term contract, serviced offices offer highly variable terms (at a minimum of 1 month). With a shorter contract, you can easily cut your losses in the unfortunate case that your business underperforms. Thus, a serviced office in Malaysia can help you save money not only on a monthly basis but in the long run, as well.