When you have a great idea for a new business in Malaysia, but you don't have a very large budget, a co-working space can be the right solution. These have popped up all over the place because they're so affordable. In most cases, you have access to a desk and a few common office machines such as a copier. This is probably the least expensive option for those with a home-based business who need to get out of the house to work at times.
Pros and Cons
The number one attraction to a co-working space in Malaysia is the price. You may be able to get what you need for under 500 Malaysian Ringgits per month. Though some establishments do require you to sign a contract where you are locked in for a specific amount of time, others do not. In many cases, it's best not to sign a contract, because you never know if your company will become a huge success overnight. This has happened to many new startups in Malaysia, especially those in the fields of electronics and manufacturing.
One thing that many entrepreneurs dislike about co-working spaces is that there's no privacy. When you need to make an important phone call to an investor, you simply can't do that with strangers sitting just a few feet away. This requires you to carry out your more confidential business matters in another location. In addition to that, you will be sharing Internet service with dozens of other users on any given day. It may not be safe to send confidential documents over the Internet in a co-working space. With today's advanced technology, it's not very difficult to intercept someone's emails.
Another of the drawbacks to a co-working space is the fact that you have no ability to grow. If you need to add additional offices or employees, it's simply not possible to do this. Some places are also located in neighborhoods that are less than desirable. One of the best ways to determine if a co-working space is right for you is to make a list of the office services that are important in order for you to do business each day. As you look around areas of Malaysia, take note of whether a co-working space that you are considering will meet your needs.
Virtual and Leased Office Space
Malaysia also has a number of places that offer virtual and leased office space to business owners. When considering this as an option for your company, find out if the provider offers the amenities that you need. Many of these require you to sign one or two year contracts and put up a large deposit before moving in. Malaysia has a huge smorgasbord of virtual and leased office space, so you might as well get the best for your money.
Servcorp Service Offices in Malaysia
Servcorp has been serving Malaysia around the world with premier leased and virtual office space for many years. We have locations in 140 countries and you can count on reliable Internet service, luxurious furnishings, and skilled people who are available when you need them. It's easy to upgrade once your business starts to grow and many businesses continue to use Servcorp even after they can afford to move into a dedicated office space. We have the resources to help out with HR and IT needs as well. We also give you an impressive business address that you can put on your letterhead. This helps businesses to grow because potential clients will automatically assume that your business is larger than it is. Please call +603 2169 6188 today if you'd like to tour our facilities in Malaysia.