The Kuala Lumpur economy grew at a steady rate, underpinned by private sector demand. Commercial real estate supported by other economic divisions with business owners looking for affordable leases in the region. The Malaysian economy remains on a steady growth track with domestic demand functioning as a key driver of development amid lower oil prices. Investors are taking advantage of the lower prices and a good supply of commercial real estate in the region.
Potential Risks of a Long-term Office Lease in Malaysia
December 11, 2015 | Sharon Cheong
An entrepreneur in Malaysia that has to rent an office is confronted with two main options of leasing available in Malaysia: long term lease and short term lease. The duration of the lease has a significant impact on the rental rate in Malaysia. Most of the property owners of the country lease their property for about 2-5 years (subject to the requirements of individual owners) and with or without an option to renew the lease. The contract extension is given for 1-2 years and is subject to an agreed amount of rent at the end of the lease. For lease renewal option, the owner generally requires that you give notice of two or three months about your intention to renew it. Most land owners in Malaysia do not accept leases that are shorter than a year. Keeping in mind the prevailing terms and conditions of property owners in Malaysia, do you think it is viable for your growing business to restrict itself by being on a long-term lease? Let's discuss some of the specific disadvantages of being on a long term lease in Malaysia:
The Difference Between Servcorp Serviced Offices and Other Providers in Malaysia
December 04, 2015 | Sharon Cheong
The vigorous financial and economical advancements make this one of the world's leading places to do business. Since this region is so popular, business owners can find it difficult to find an upscale office facility that they can afford. That's why serviced offices have become so popular in Malaysia. Malaysia offers investors so much and has grown over the last 50 years into a well-known newly industrialized market economy. The economy remains strong with large and small businesses operating there each year.
Malaysia has much to offer entrepreneurs and experts believe that by the year 2050, the region will become one of the strongest economies in Asia. The big question that many new startups have concerns how to get their foot in the door. Often, large companies do business with well establish companies that they know. People are worried that a new startup may not have the resources to fulfill a big order or provide the best services. How can you convince the big corporations that you have the expertise, employees and resources to handle their business?
Technology has played a key role in the growth of trade and commerce worldwide. While it is true that we have been doing business since time immemorial, long before there were computers and even the currency, one cannot deny the fact that trade and commerce was much slower before technology revolutionized everything.
How to Rent a Virtual Office in Malaysia and Appear Bigger Than You Really Are
November 04, 2015 | Sharon Cheong
Malaysia has continually enjoyed one of the stronger economies in Asia. The country's gross domestic product rises each year and the government works to help small business owners get set up and succeed. Malaysia has modern international airports, seven amazing seaports and an intricate rail system to make doing business there much easier.
Office Space Solutions for Startups in Kuala Lumpur
October 20, 2015 | Sharon Cheong
Office space solutions in Kuala Lumpur are abundant, but a new startup must be cautious about every dollar it spends. While larger, established businesses can afford to rent space in a high rise office building and hire new employees, this can cost thousands of dollars and create monthly bills that you may not be able to pay. Once a business takes this step, they're often locked into long-term contracts that require huge monthly payments. Now, instead of focusing on building value in your company, you must focus on how to pay the rent. This has happened to many new startups in Kuala Lumpur.
How to Start a Home Business with a Rented Virtual Office in Kuala Lumpur
October 12, 2015 | Sharon Cheong
Today Kuala Lumpur has become a busy, modern city where large global corporations come to build an offshore office each year. Because of all the jobs these companies create, a number of other businesses have sprung up in order to cater to specific needs. For instance, you might build a small business that prints all the advertising materials for one or more larger corporations. Identify a specific need and fill it. That's the way many businesses became successful. You can offer consulting services, food service, communications, office supplies, and many others.
Malaysia has a large urbanized population with good basic labor skills, along with excellent seaports and these factors have contributed to their steady economic growth. Though the forecasts for 2015 were high in many sectors, the first half of the year showed weaker than normal growth. In the second quarter of the year, Malaysia's growth slowed to 4.9% after posting rises of around 5.6% in the preceding three quarters. The weakest growth in two years was experienced in the Q2 and attributed to a new Goods and Services Tax (GST) implemented in April.
How to Choose a Virtual Office for Your Home Based Business in Kuala Lumpur
August 29, 2015 | Sharon Cheong
Malaysia's beautiful capital, Kuala Lumpur, has become a major economic and cultural center. With a vibrant mix of trendy night spots, great restaurants, and fabulous shopping, the city is also home to many large corporations. The skyline has become well known the world over and is accented by sleek skyscrapers, Mogul domes and minarets. Though the colorful mosques and banyan tree-lined boulevards, are usually bustling with activity, there's a growing trend toward home-based businesses.
Quick and Easy Ways to Find Office Space in Malaysia
August 03, 2015 | Sharon Cheong
Malaysia is a great place to set up a new business. Though the import export business has always been strong, these days corporations are looking for an offshore headquarters and Malaysia is an excellent choice. The nation has a business-friendly government, low cost labor, plenty of commercial space and good access to the best seaports in the world.
Each year, Malaysia's economic growth rate escalates from the overall Gross Domestic Product to its advanced industrial and technology sectors. As a newly industrialized market, the nation is very open to investors and entrepreneurs. This is one of the top ASEAN economies in Southeast Asia and it offers many great economic opportunities for foreigners and locals.
Business Culture in Malaysia and What You Need to Know to Succeed
July 20, 2015 | Sharon Cheong
Malaysia has become an Asian success story due to its vibrant economy. Their success has come through years of hard work and good planning. The government responded well and quickly to the economic downturn of a few years back and the Malaysian economy has fully recovered. This has led many businesses all over the world to seek out an offshore presence in the country. One of the main things business people are concerned about is the business culture in Malaysia. It does have a very old and unique culture and heritage and the residents are proud of their historical significance.
With Malaysia's newly industrialized market economy, the country has enjoyed a strong, stable record of performance for over 50 years. They are members of the ASEAN region and the third largest economy of this group with a Gross Domestic growth rate of 6.5% annually that has reached over $746 billion. This is one of Southeast Asia's best economic records and has attracted investors and entrepreneurs from all over the world. Large, well-known companies have offshore headquarters in Malaysia.
hose who work hard each day to build a dream business in Malaysia know that this must be coupled with the right business plan. As your investment of time and money increase, the factors can come into alignment and produce a successful venture. There's nothing more rewarding than building a successful business from the ground up. At some point however, you may decide to grow and expand your business. If you're ready to do that or have been thinking about how to go about it, then below are some helpful tips.
Which Business Networking Events to Attend in Malaysia
June 24, 2015 | Sharon Cheong
Business Networking Events provide an exceptional venue to meet others in your industry and spread the word about your products and services. New entrepreneurs will find networking especially helpful. There are numerous organizations and groups that meet each month to connect with other like-minded individuals.
Five Questions to Ask Before Expanding Your Business in Malaysia
May 11, 2015 | Sharon Cheong
As a business owner, you may be thinking about taking that next step and growing your business. Many US owned businesses have set up very successful offices in Malaysia. Though it can be more expensive to initially set up the office, it will ultimately give you stronger returns on your investment. Businesses in Malaysia generally offer better profit margins because some costs are lower, such as leasing commercial space and hiring employees. The five questions below can help you decide whether you're ready for an offshore office.
Malaysia is a very business friendly country that offers excellent amenities to attract global business. In fact, the nation's economy is one of the fastest-growing in the world. When it comes to opening a corporate bank account, Malaysia offers numerous amenities such as internet banking, trade financing, and credit cards. Opening a business bank account is a straightforward process that can be handled by the business owner, but working with a local accountant can make things go smoother.
How to Start an Import and Export Business in Malaysia
April 28, 2015 | Sharon Cheong
Many foreign countries have offices set up to specifically assist those who want to establish an import or export business and Malaysia is one of those. As a very business friendly country, the Consulate and/or Embassy will have industry directories and information about local manufacturers. The Malaysian government provides many helpful services and a good deal of information about how to start a new business.
How to Get Funding for Small Businesses in Malaysia
April 03, 2015 | Sharon Cheong
You may have a great concept for a lucrative small business in Malaysia. Entrepreneurs come up with amazing ideas each year, but they just don't have the working capital to get started. Funding for a small business in Malaysia normally requires assets or collateral that can be leveraged in order to obtain a loan. The Malaysian government also offers numerous programs designed to assist investors and entrepreneurs.
For centuries, Malaysia has been known as a crossroads of trade between the West and the East and that tradition continues today. In addition, the country stretches the length of the Strait of Malacca making it a globally important shipping lane. The Malaysian government has capitalized on these facts and transformed the economy from primarily agricultural to a significant international manufacturing center.
Cost Saving Strategies for Small Businesses in Malaysia
March 20, 2015 | Sharon Cheong
For the past 50 years, Malaysia has enjoyed increasingly strong economic growth. The government was wise enough to realize the potential in this nation and they have worked to build a profitable business structure over the years. Because of this, many large and small companies have moved to Malaysia to set up offices there. Since this whole area has excellent access to modern seaports, import and export businesses do especially well there.
During 2014, Malaysia's growth rate was 6.5%, resulting in over $700 billion in the Gross Domestic Product. This showing was among the finest economic records across Asia. The newly industrialized market economy has grown year by year to become a top ASEAN economy in 2014. With an advanced industrial sector and abundant natural resources, Malaysia offers so much to visitors and investors.
Tips for Expats Buying a Small Business in Malaysia
March 03, 2015 | Sharon Cheong
Malaysia offers expats all the comforts of home, plus it's a newly industrialized market economy. For over 50 years, the country has remained strong economically and many large and small investors have discovered the wealth of possibilities there. With a Gross Domestic Product that is well over $740 billion dollars, Malaysia continues to surprise investors with its robust financial and economical advancements.
Malaysia's strong industrialized market has transformed it into a hub of financial activity in Asia and the country's economy has steadily grown over the years. Because of the excellent growth rate, entrepreneurs from all over the world seek out lucrative business opportunities in the region. For those who have very little money to invest, but still want to own their own successful business, a small franchise business in Malaysia is the perfect solution.
As a newly industrialized market economy, Malaysia has had a strong economic record in Asia for the past 50 years. They were the third largest economy located in the ASEAN region with a Gross Domestic Product that has steadily grown each year. In 2014, the rate of growth was 6.5% and today the Gross Domestic Product has reached approximately $746.821 billion, giving Malaysia one of the best economic records in all of Asia.
Malaysia has one of the strongest economies in all of Asia with a Gross Domestic Product (GDP) that consistently rises annually. The government has numerous plans in place to make doing business in Malaysia as simple as possible. The country is working hard toward the status of “developed country”. Many experts believe that they may be able to move into the Top 20 world economies by the year 2050. With seven international seaports, a modern international airport and a great light rail system, doing business here can be highly profitable.
Malaysia is an exciting city with a robust economic history that has endured for at least 50 years. Their gross domestic product has risen steadily and today is one of the strongest in all of Asia. The leadership of the country has kept Malaysia's financial markets increasing by developing good programs for entrepreneurs. These include easy methods for first-time business owners to create a start-up. Many experts believe that Malaysia could well become the 21st biggest economy around the world by 2050, so that makes it a great place to invest now.
Things to Include on a Checklist for Starting a Business in Malaysia
January 19, 2015 | Sharon Cheong
In terms of middle income countries, Malaysia is ranked number one in relation to business opportunities and development. The capital city of Kuala Lumpur provides both new and established businesses with a multitude of benefits and possibilities. New or fledgling businesses can reduce operating costs which is a vital factor with regards to overcoming initial difficulties. This is due to the comparatively low rental costs, energy bills and staff salaries. Despite the low operating costs, Malaysia has a good infrastructure and a large base of skilled professionals. Invariably, many of these professionals are found in Kuala Lumpur which entices a high percentage of businesses to the area. If you are considering starting a business in Malaysia, then it is important to develop a strategy. Understanding the process involved is extremely important. Additionally, understanding the stages in which to complete the necessary tasks is equally important. An effective way to manage your business start-up process is by creating a checklist.
A stale workplace will produce stale productivity levels. The average employee becomes much less motivated to work under stressful work situations which can occur, but even more demotivated when the tools that he requires to do the job are not present. This can cause a build up of work fatigue that needs to be dealt with; or else, it will lead to a demotivated employee which can be a severe hamper on productivity.
April Fool Pranks In The Workplace: How Not To Get Too Carried Away
Mar 2013 | Servcorp
April Fool's Day invariably brings out the antics of the office pranksters, and this can provide much needed comic relief in some workplaces. If you like to play pranks on your coworkers, friends and family, you are probably already looking forward to April Fool's Day and even already planning the fun that you are going to have. However, in keeping with the harmless spirit of the day, it's important that you keep in mind that getting carried away while playing pranks could have unintended consequences and should avoided.
Business Feng Shui - What The Chinese New Year Of The Snake Promises
Feb 2013 | Servcorp
2013 is the year of the Snake, according to Chinese Astrology. In particular, it is the Year of the Water Snake. Now, the Snake symbolizes many positive features which make is a great emblem for businesses. On one hand, it is a great time for a new business to open up. Those born under the Year of The Snake will embody wisdom, good fortune and shrewd business skills.
There are plenty of good business opportunities available throughout South East Asia for those who are interested in investing in the region. The market in South East Asia is huge and as large as the one in the United States. The region has also made a significant amount of economic progress in the last two decades. The infrastructure has improved significantly, the cost of logistics has fallen and trade barriers that may have existed some time ago are now long gone. All of this has brought a large amount of private investment in the region. Investors from all over the world are jumping on the chance to take advantage of this opportunity.
All businesses strive for improvement each year. How exactly should a company go about accomplishing improvement on a yearly basis? Each organization will be different; however, a number of business resolutions to strive for in 2013 will be useful to most companies.
When doing business in a foreign country, entrepreneurs should know that they will face a business culture that could be quite different from what they are used to in their home country. While Malaysia is a modern country where there are numerous similarities with the West in the business community, it is still important that foreigners understand some specifics about how business deals are done there.
It's no secret that the Malaysian government has been making a positive effort to improve the country's energy efficiency levels, and in an effort to push things further in that direction banks are becoming ever more likely to provide financing for green technology development.
How Is the Future of Business in Australia and New Zealand Linked to Asia?
December 12, 2013 | Valerie Wong
Due to their close geographical proximity, there has always been a lose link between businesses located in Asian countries and those found in Australia and New Zealand. Now that Asian economies such as China, Singapore and Malaysia are showing signs of exponential growth slated for the next decade, economic ties between Oceania and Asia are now becoming more important than ever before.
Every business owner has probably encountered a cash flow problem at some time, and sometimes one of them just can't figure a way out of it. Nothing is more frustrating than hitting a valley after a big peak, being unable to purchase more inventories or pay employees, or not having the money to grow a newly successful business.
Your employees are undoubtedly your most valuable assets. When you own a business, it is critical to learn how to keep good employees and let go of bad ones if you want to succeed in your industry. After you hire the best candidates for the position and you train these new hires, you new to find innovative ways to retain the employees that are worth retaining. Here are the most effective ways to increase your employee retention and reduce the costs associated with losing key employees by showing your employees that they are important parts of the organization.
If you're thinking of starting a new business, then you need the right ideas. You may be wondering what kind of business would be the most lucrative in 2014. There is no single answer to this question, as many business types and models can be profitable. But one thing is certain; the rise of technology and Internet use has given entrepreneurs everywhere some great ideas. If you want to start a business in 2014, take a look at some of these ideas:
We all know that it's tough at the top. In fact, there's often so much going on that things can seem a little, well, unmanageable.
The good news is that you don't really need to feel overwhelmed. In reality, you can take control of your business life by implementing some tried and tested techniques that'll add a bit of structure to your life.
Businesses here in Malaysia don't have to look very far to find out how effective a cloud system can be – but some of them might have to go back to school to find out. Yes, in case you missed it, the Ministry of Education has chosen to fully embrace Google's cloud service within its entire school system.
For many years, business had been seen as a “man's world,” with few women reaching top positions in the business world. But in the last two decades, this has largely changed, with an increasing number of women starting successful businesses, or being promoted to top executive positions inside some of the world's biggest companies. While the presence of women in the business world is now a common sight in the West, what about South East Asian countries?
As a general rule, there are few restrictions on foreigners starting or owning a business in Malaysia. In fact, the process is relatively inexpensive and has few bureaucratic complications. However, anyone who is planning to start a business in the country should carefully examine the requirements, as well as the benefits and disadvantages of doing business in the country.
Facebook is without any single shred of doubt, currently the world's most popular and widely used social networking website. Its user base grew from just over a million active users at the end of 2004, to more than 1.1 billion in March 2013. This means that there is a large segment of the world population that logs into Facebook every single day. If you're looking for a way to promote your business online, as well as have meaningful interactions with the people that are likely to be interested in what you're selling, Facebook is the place to be.
A Malaysian Employee Job Satisfaction survey carried out by JobStreet.com has revealed 78% of respondents are unhappy with their current employment – but only 17% of those surveyed claimed their salary was the main reason for their despondency.
Turning Passion Into Profit: An Entrepreneur's Guide
Dec 2012 | Servcorp
In today's uncertain economic times, more people than ever are considering entrepreneurship as a way to make ends meet. Hoping for more than only enough to pay the bills, many people dream of turning their passion into a way to make a comfortable living. If you have dreams of being your own boss and spending your life doing what you love, here is a brief guide to follow:
For visitors and businesses alike, Malaysia presents a veritable melting pot of different cultures – but a recent statement from the country's Communication and Multimedia Minister, Datuk Seri Ahmad Shabery Cheek, has revealed an area where differences are less evident: the digital divide.
What You Need To Know When Investing in South East Asia?
October 23, 2013 | Valerie Wong
If you're planning on starting a business anywhere, you will need to do a good amount of research before you actually can get your new enterprise up and running. But if you're in the process of investing in another country, there are some additional things that you would need to consider. The business climate, culture and regulations will probably have some similarities to what you are used to at home, but there will also be some noticeable differences. For those who plan on investing in South East Asia, here is what you need to think about:
What You Need To Know When Investing in South East Asia?
October 3, 2014 | Sharon Cheong
Known for having one of the strongest economies in Asia, it should come as no surprise that Malaysia is attractive to local and foreign business owners. The country offers many things including steady economic growth, attractive tax incentives, and a lively business environment. But before investing in Malaysia, it's wise to learn more about the business requirements in this country. Let's discuss some of the things that entrepreneurs should know when it comes to starting an online business in Malaysia.
What You Need To Know When Investing in South East Asia?
July 14, 2014 | SERVCORP
Malaysian virtual offices have everything that you're searching for in terms of quality telecommunications service, plus they go well together with serviced offices in high-grade locations all over the country.First, a rundown of what you'll be getting. Serviced offices, also known as business centers, managed offices, executive suites, or executive centers, are brick-and-mortar rental office spaces that are already fully furnished (you'll be renting out the appliances and furnishings of the office too rather than invest on buying tables, chairs, cubicles, custodians, and more) so that it'd be easier to meet up with clients or conduct events and whatnot.
Why Working with Your Spouse Helps Build Better Business
Feb 2013 | Servcorp
Some people say that it's a bad idea to work with one's spouse. They have their reasons for making this argument; however, it's also important to consider the other side. How can married couples working together create a better business plan and environment?
Setting up a small business is one of the worst headaches that business people will ever encounter in their lives. This process is always riddled with challenges that never seem to abate. One of these problems exists in the form of a business plan. In this regard, many small businesses have fallen by the wayside due to possession of wayward business plans. Failure to formulate a good business plan has also been responsible for failure to attract investments. Some small business entrepreneurs cannot also acknowledge the strengths and weaknesses that are in their businesses. Thus, they fail to come up with the most efficient way of running the enterprise.