Malaysia is maintaining an overwhelming economic growth since the nation ranked 6th for most favorable destination to setup a business. The country is now constantly experimenting on various business fields and which include small export business too. Yes, a respectable portion of Malaysian economy is been contributed from export business opportunities.
However, there are certain categories of exportable product that has greater demand compare to other products. In addition, with that, the Malaysian government provides many helpful services and a good deal of information about how to start a new export business with a reasonable asset.
Here in this article we will find out the answer about how to get started with small export business opportunities in Malaysia.
Planning the business
One of the primary objective that an interested individual need to consider is formulating and strategically plan the whole export business. Setting up the mind before walking into the market field is always result good outcome at the end of the day.
Setting up the mind also give you time to think and give a short evaluation of the scopes and market competitors. Therefore, it is always advised to invest a good portion of time in planning and mind setup before moving forward with the small export business opportunities in Malaysia.
Getting the export business licenses and Permits
Next, you’ll want to finish up all the basic company registration formalities that every other company formation required as well. Ignoring procedures such as company naming and incorporating through the SSM, AoA and MoA submission, secretary appointment, and company premises renting is a mandatory part of setting a legal company in Malaysia.
Above mentioned tasks are enough for other private limited company that has no relationship with export import process. However, in case of the export related company you will also need additional approvals from the department of export import in Malaysia. The list of approvals needed depends on the products that has been ready for exportations or importations.
Selecting products for the export business
Starting the export venture with low risk products such as consumer goods, clothing is the best idea. Such products minimize complexities from quite an extend as the hassle for acquiring additional approvals and licenses is absent here. Once you have set the basic approvals and paperwork, you can easily do export businesses here in Malaysia.
However, certain export products are more complex then the rest, for instances, chemicals, medical products and pharmaceuticals, firearms, liquor etc. Until and unless you have proper paperwork from the authority, don’t attempt for such exportations.
Freight Forwarder process
When thinking Shipping out products from Malaysia, you need to know at least the basic of product management and product handling via ships and cargos. This is called freight forwarding process, which often tends to be little tricky. It is absolutely advisable to carry out sufficient research before proceeding forward for the services as a freight forwarder.
The International Chamber of Commerce in Malaysia has published a list of the standard trade definitions involved export as well as import business process in this country. This can be the best resource when revising the freight forwarding process for attempting a small export business opportunity in Malaysia.
Upgrade office primases for export business
When you are ready to start with a small export business opportunity, you can’t ignore an idol office primase. Yes, you must arrange a good business space that will upgrade and facilitate you any various ways. Firstly, the productivity will get a great boost-up. The service of your office staff has a good influence on business primases.
So, once you have upgraded your office space, naturally you supposed to get a better outcome of productivity from your office space. Secondly, it is an export business, so typically you have to deal with international clients every now and then.
Having an attractive office will always keep you on preference when setting up the international deal. If you think for a small export business, you cannot effort a lavish office space, you always have an option of leasing a serviced office space in Malaysia.
It is very cheap yet serve your business purpose at its best. So next time, if you have a query about how to get started with small export business opportunities in Malaysia, give this article a review, and check out whether you have cleared out the basic Malaysian business criteria list or not.