Malaysia is not only a tourist hub, but it is a successful business hub located in the Southeast Asia region. Home to the world-famous Petronas Towers, Malaysia has succeeded in grabbing the attention of locals & foreigners. The country, while on a fast track towards being fully developed, encourages and invites local and foreign entrepreneurs and investors to join them to steer the country towards success. The government of Malaysia provides the necessary facilities to enhance existing businesses. It also encourages new business start-ups in the country. All the income generated will help the economy to achieve its goal.
Like many businesses in Malaysia, businesses relating to the internet is also a lucrative venture. Nowadays many people tend to take a plunge in the internet-based business as there are many benefits you can get from them. Considering the economic improvement, you can be sure that whatever business you may start will be successful in Malaysia. However, like many aspects of life, you must be 100% committed and patient and make the right decisions to be successful.
Like a normal business, an online business too will take time to show profits. You must nurture and take care of it and watch it bloom into a profit-making business. You will face many challenges. But not to worry. Challenges make you stronger and help bring the best out of you.
There are many benefits to starting an online business in Malaysia. The biggest benefit of all is the startup cost is lesser than opening a traditional office. Who would be interested in starting up an online business? You may be someone who works full-time, yet wants to earn a few extra bucks. Or you may want to stay close to your loved ones and family, while you earn. Or else, you just may be an introvert who doesn’t like human interaction who needs to earn an income. For either one of you, the internet business would be beneficial.
In this article, we want to highlight what are the best skills to run an online business in Malaysia -2020. Businesses so big that has the potential to generate a six-figure income.
How to start an online business
First, you have got to determine what your skills and qualifications are. Some of you may have professional qualifications in a certain area that you want to use to further your career prospects. Some of you may have a useful life skill that may help others in solving matters. Once you learn and decide what your business must be based on, it is easier. You can do what you love to do while earning a living out of it.
What are the best skills necessary to run a successful online business in Malaysia as of 2020?
In a world where everything keeps changing rapidly, businesses too change frequently. The skills in demand at present were unheard of in the past few decades or so. Also, the skills in demand this decade may lose its potential in the coming years. We have to be prepared to face challenges and gain new skills to sustain our selves and in turn, our businesses. Research shows that the following are the skills that are high in demand for the coming year 2020 and the near future.
Many companies hire remote workers to reduce their overhead costs & have access to a larger talent pool. Most US companies hire remote workers.
So, if you have the knack to write business articles, or have knowledge of computer programming or advertising, this may be a wonderful entry point for you. Whether or not you have gained professional training in writing, some have the talent of putting thoughts to words in a way that captures an audience. Nowadays content marketing has become most popular among businesses. Many company websites publish business articles (relating to their own business) on their homepage. A well written high-quality article is a form of Marketing done for the company. Content Marketing is proven to be an effective way of generating traffic to a website. A visitor to your page can be a potential customer in the future.
Skills: Knowledge of SEO is a bonus for writers. Knowledge of IT/ programming will surely help you.
The challenge here is to find a remote job. It is not so different from finding a normal job, but it takes a little bit of effort. There are many job sites where you can create a profile of yourself. You must include a CV that will outshine others.
At the very beginning, you might face a challenge in getting your first few clients. But as soon as your articles get more proficient, you will get due attention.
You can earn between, US$1,000-US$8,000 a month.
In a world where the company website is a powerful marketing tool, graphic designing comes in handy. Graphic designing is what you use to create Logos, Banners, Website designing, social media designing, etc. They make a company’s image stand out from its competitors. Needless to say, graphic designers are a hot commodity in the job market. If you have the skill to create visually appealing images, then this may be a good opportunity for you to broaden your career. The best thing about this is that you do not necessarily need a university degree. All you need is to your portfolio to exhibit your talents. You can then start your search for possible clients. Or you can sell your creations online.
Adobe Photoshop, Adobe Illustrator & related tools will be your investment.
The drawback in this area is the competitiveness. You must make sure your designs are unique and stand out from the rest.
Your earning potential is RM50-RM7500 depending on the creativity of your art.
If you are someone who has a knack for teaching & nurturing, this will be a viable option for you. You may be O/L, A/L qualified or undergraduate or postgraduate. If you have qualifications, then online teaching can be a profitable online business. With the use of the World Wide Web, your reach of customers (in this case, your students) is unlimited. You can not only tutor Malaysian students but if you can break out of your comfort zone extend to other countries as well. Knowledge is power. That is a confirmed fact. Thus, there is a good market for tutoring in this era. Online tutoring will benefit both you and your students. Both parties can attend sessions from the comfort of their homes.
If you know details about New Company Registration Malaysia for Foreigners
Your investment will be a computer, headsets & a fast internet connection. If you would like to be more professional, you may also invest in software to aid your students.
Ex: An interactive smart board where you and your student/students share the same screen. The student will see what you type on your board and you can see what your students do on theirs. When solving a math question, you can ask the student to solve it on the smartboard which both parties can access at the same time and you can evaluate it then and there.
You may either start this business by yourself, by creating a brand for yourself. Or you may also join a third-party company and start earning. Online tutoring is popular, especially amongst UK schools. There are smart classrooms in the UK where they hire online tutors from all over the world to help students.
You can earn up to RM250-RM1000 per hour (if you have a global reach)
In this case, you must have e-commerce skills. The ability to do Facebook marketing & branding will be an added advantage.
There are many Malaysian companies who have become successful brands through e-commerce.
Example: Fit gear, Ox white
You must have a good quality product & a knack for selling via e-commerce & you will be on the highway to success!
You can earn anywhere between RM.2000 – RM2,00,000 per month.
Search Engine Optimization is hype in business. It is an efficient way to generate traffic from Google to your website.
If done correctly the SEO will help you earn anywhere between RM. 1500-RM.300000 per month. The challenge would be to have a thorough knowledge of SEO. For beginners, this may be a new concept. But I insist you take a good 6 months to learn the subject before you acquire a customer base.
Apart from that, you might need to spend about RM.300 to build a website. SEO skills will open up a world of opportunities for you to earn.
You may be in a position where you feel like you are not earning enough or you are not reaching your fullest potential. If you have the skill or talent, you can use it to generate more income and lead a more comfortable life. Listed above are the Best skills we think you need to run an online business in Malaysia for 2020. Businesses that can earn you a six-figure income, provided you have the commitment and drive!
Frequently asked Questions
- Do you have to register your online business in Malaysia?
Online business is a business. Thus, you must register your business at the SSM (Suruhanjaya Syarikat Malaysia)
- Do I need to pay taxes for my Malaysia Internet-based business?
Yes. You need to register your tax file with LHDN (Inland Revenue Board – Malaysia). For more information on what taxes you have to pay please contact the LHDN.