With the pandemic hitting Malaysia, the economy has been on a downfall. This is mainly due to businesses being unable to operate therefore causing heavy losses. However, with the first phase of the vaccine being due to arrive by February, businesses will soon start to reopen. This will reboot the economy and give you a chance to open a successful business.
Here are some of the best business ideas in Malaysia 2021, provided by BomStart.
Most Profitable Business Ideas in Malaysia 2021
Malaysians love fashion just like any other country. It is undeniable many are concerned and are very much conscious about dressing well.
There are always opportunities for new investors to come up with a new style of fashion despite the fact that there are already plenty of fashion brands and outlets out there.
In Malaysia, in order to run a fashion business, you might want to consider the local fashion which has its own significance.
Having knowledge of the country’s local fashion could help you to strategize your business.
Getting into this field can be one of the best business ideas in Malaysia in 2020.
2. Sell on Facebook or Instagram
At a low cost, you can reach a large and engaged audience. These platforms are the best converting platforms for selling products.
To make money and gain profit, you can sell your products through the platform.
It is convenient if you have a large following on social media. If not, you should spend some time to build the following.
One of the main benefits of having a large following, even if you don’t sell products directly to customers, you can also help other people promote their products for a fee.
3. Sell on Online Marketplace
Nowadays, there are plenty of online marketplaces which provide opportunities for people to do online shopping.
Selling on platforms such as Lazada and Shopee allows you to make a profit.
It is one of the lowest cost methods to start a business.
4. Social Media Consultant
Many companies are keen to improve their social media presence. They are looking for people who are well versed in social media.
If you have the knowledge and skills to become an expert, you should look for this kind of business opportunity.
There are services such as copyediting, proofreading, copywriting and many more. You can earn money by using your writing skill.
There are several editorial services you can provide without any initial monetary investment.
6. Online Hotel Booking Business
Malaysia is a beautiful country with plenty of great attractions. The online business of hotel booking has its own significance. Unfortunately, you will have to wait before travel restrictions are lifted.
With some partnerships and links with some hotels, you can start. Payments will be on their terms and conditions.
7. Smartphone and Personal Computer Repairing Startup
If you have the skill to repair devices, you have an incredible opportunity to start your own business!
There are a lot of people out there who want their faulty devices to get repaired rather than being thrown away.
8. Airbnb Business
Airbnb is a popular choice among travellers. You can Airbnb your property to people to earn extra money. However, it will take time for people to start staying in your Airbnb as there are few travellers due to travel restrictions currently.
You can make much more letting it out on Airbnb compared to renting it monthly or yearly basis.
9. Real Estate Business
The demand for real estate is getting higher especially in high-demand locations such as Kuala Lumpur, Penang, and Johor.
10. T-shirt Printing Business
T-shirt businesses are hugely popular and the demand is always increasing. This can be due to special events happening.
You will need to have t-shirt designs that people love and make sure the quality is good.
Building a successful business is no piece of cake. However, as long as you have sufficient determination to pursue your dreams, you can definitely succeed.
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