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Investor-grade business plans & professional company profile services since 2003

GECB was a truly humble Malaysian consulting company founded since 2003 in Kuala Lumpur. We are SME and startup consulting firm that helps small-and-medium enterprises to grow their business through our comprehensive range of business consultancy services. We guide our clients through the creation of investor-grade business plans, top-notch business proposals, marketable franchise plans, professional company profiles, business deck presentations and other marketing support materials.

We always strive to provide the top-notch services for the amount you pay here at GECB, providing affordable and professional service up at the international standard, please note that it is still a small-and-medium (SME) consulting company. Find out more about us .

Business Plan

GECB has worked with many entrepreneurs and executives in a wide range of industries, and with companies at nearly every stage of development, throughout Asian regions. Our consulting teams have prepared hundreds of business plans for clients seeking various levels of capital (ranging from seed investments, SME loans to multi-millions equity financings) and business expansion plan (such as Franchise, Startup etc.)

Company Profile

A company profile is one of the most important possessions of a company. In fact, it is just like a CV that an employee would present to an employer. The company profile is what states the vision and mission of a particular company, and what the company plans to achieve in the future. This is why a company profile should be top-notch at all times. A business entity that has a professional company profile will stand a better chance of getting more business opportunities in their field of interest. This why a company should pay close attention when designing their profile.

Sunday, July 4, 2021

1-to-1 mentor-mentee consultation with dr fred.

 GECB Team.

The novel Coronavirus disease (COVID-19) has undoubtedly magnified the issue of business instability, financial insecurity as well as mental vulnerability.   The recent FMCO (Full Movement Control Order) extension in Malaysia has further dampened businesses of all sizes exponentially – leading a drop in business income that has caused cash flow positions of businesses in our neighbourhoods to decline and debt to rise inevitably. In effort to address the growing concerns particularly the small and medium businesses, the Management of GECB has decided to offer short-term consultation suitable for small and medium size business owners, and entrepreneurs. Now you can meet our expert Dr Fred Wu at a minimal fee only. Ask yourselves if you are: Facing sales stress is this COVID-19 pandemic? In need for change of business model but no idea what and how to do? Facing trouble in handling your market and/or capital mechanism? Worry about your business strategy and business direction? Make an appointment for an hour mentorship, and ask Dr Fred today!

 Click  here to book an appointment now! 

Wednesday, June 30, 2021

Gecb corporate profile 2021/2022 (version 8.1).

 BY GECB Team.

Since inception in 2003, we built many marketable company profiles for clients across Asia, and have helped them achieve goals NOT LIMITED TO securing projects, securing partnerships and securing funds from investors etc. Time flies, and our company profile is reaching version 8.1, consisting 12 chapters across 200 pages. It is being printed and will be available soon. Stay tuned.

Friday, April 2, 2021

Incubatee security2u invited by mtdc chairman.

Thursday, March 18, 2021

Gecb ceo dr fred at enactus-unm university nottingham malaysia.

Our CEO Dr Fred was finally back in action … back to school. It’s indeed gratifying to see many undergraduates across universities to come together – learning and competing tirelessly. We were so humbled that Dr Fred was part of the judging line-up, was tasked to judge and select the best of the best. It’s incredible seeing entrepreneurship and more importantly social entrepreneurship in campus, empowering undergraduates industry-relevant. With the glimpse of quality pitch and leadership skills from participating teams in the workshop, NEX:US DAY 2 definitely promises to be an epic battle! Another immense pressure this Saturday.

#enactusUNM #nexus #universitynottinghammalaysia #gecb #strategy #entrepreneurs #socialentrepreneurs

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How to Start Up a Business in Malaysia 2024

Updated on : Mar 20th, 2024

Malaysia, ranked 24th in the World Bank's Ease of Doing Business in 2018, and has emerged as a vibrant hub for business opportunities. However, navigating through the process of setting up a business requires careful planning and understanding of the legal and regulatory environment.

Starting up a business in Malaysia involves a structured approach catering to local and foreign entrepreneurs. Below is an informative guide on how to start up a business in Malaysia, incorporating essential steps and practical advice.

Planning and Preparation

Before diving into the business world in Malaysia, consider the following steps:

Define Your Business Idea and Plan : Identify your target market, understand the problem you're solving, and conduct a SWOT analysis (strengths, weaknesses, opportunities, threats). Ensure you have a solid business plan in place, considering factors such as funding, capital needs, and market research.

Naming Your Business : Choose a unique and memorable name that aligns with your business type. Check for domain name availability and conduct an official business name search through Suruhanjaya Syarikat Malaysia (SSM).

Find a Business Location : For physical stores or specific business types requiring space, select an appropriate location. Home-based businesses can bypass this step.

Registration and Licensing

Starting a business in Malaysia involves a three-step process, each crucial for ensuring your business is legally compliant and set up for success. Here's a simplified and structured guide with key points highlighted:

Step 1: Preparation for Registration  

Selecting a business structure : Choose the most suitable form for your business. Options include sole proprietorship, partnership, limited liability partnership, private limited company, public limited company, branch office, representative office, or subsidiary company. The foreign companies have additional considerations.

Choosing a company name : Acclime can assist in conducting a name search. Ensure the name follows Malaysian guidelines - proper language use, no offensive or religious elements, and compliance with specific naming rules.

Appointing key officials : Decide on your company's directors (minimum one, natural person, aged 18 or above), shareholders (minimum one, can be an individual or a body corporate), and a company secretary (a member of a professional body or licensed by the SSM).

Registered office address : Choose a legitimate office address for receiving formal communication; P.O. boxes aren’t permitted.

Share capital requirements : Determine your share capital, with a minimum requirement of RM1.  

Step 2: Registration

Company registration with SSM : Register your company name with the SSM, which, once approved, is reserved for 30 days (extendable for another 30 days for a fee).

Required documentation : Prepare and submit necessary documents, including the Constitution (optional), Declaration by a director or promoter, Declaration of compliance, and copies of directors' identity cards.

Step 3: Post-Registration

Opening a corporate bank account : Choose from various local and international banks like Maybank, CIMB Bank, etc. Required documents include completed application forms, possibly a letter of introduction, company’s rubber stamp, photocopies of directors’ IDs, and board resolutions.

Obtaining business licenses and permits : Secure general, sector/industry-specific, and activity-specific licenses. General licenses include company registration, tax registrations, EPF, PERKESO, and others.

Determining tax obligations : Understand your company's tax obligations, which vary depending on several factors. Malaysia has specific tax rates for residents and non-residents.

Appointing auditors : Necessary for all companies, with specific timelines for newly incorporated entities.

Registering for employee provident fund : This includes registration for both, employers and employees, with specific documentation required.

Key government agencies and organizations offering support to businesses

In Malaysia, several key government agencies and organizations offer support and resources to businesses, especially those in the start-up phase. These entities provide a range of services, including registration, financial assistance, training, and more. Here's a list of some of the most significant agencies:

Suruhanjaya Syarikat Malaysia (SSM) : SSM regulates companies and businesses, handles new registrations, and provides compliance guidelines.

Malaysian Investment Development Authority (MIDA) : As the government's main agency for industrial development, MIDA advises on investment opportunities and assists companies investing in Malaysia.

Companies Commission of Malaysia (CCM) : CCM is crucial for business registration and incorporation, offering services like registration, renewal, and compliance support.

Small and Medium Enterprises Corporation Malaysia (SME Corp. Malaysia) : Under the Ministry of Entrepreneur Development, SME Corp. Malaysia formulates policies for SMEs and coordinates development programme.

Malaysia External Trade Development Corporation (MATRADE) : MATRADE, the national trade promotion agency, assists in developing external trade, with a focus on export promotion.

Ministry of Entrepreneur Development and Cooperatives (MEDAC) : MEDAC aids entrepreneurs and cooperatives through training, financial assistance, and advisory services.

Human Resources Development Fund (HRDF) : Part of the Human Resources Ministry, HRDF focuses on developing the local workforce, aligning with Malaysia's economic goals.

Pertubuhan Keselamatan Sosial (PERKESO) : PERKESO provides social security protection for work-related accidents or diseases.

Starting a business in Malaysia involves several critical steps, from understanding the right business structure to ensuring compliance with various governmental agencies. Navigating this process can be complex, but with the right support and guidance, it becomes manageable and rewarding. Agencies like Suruhanjaya Syarikat Malaysia (SSM) and the Malaysian Investment Development Authority (MIDA) play significant roles in this journey, offering necessary resources and regulatory frameworks.

To simplify this process, ClearTax offers an efficient and user-friendly solution, making the task of setting up a business in Malaysia much easier. By leveraging ClearTax's expertise, entrepreneurs can seamlessly navigate through the intricacies of business registration, compliance, and other essential aspects, allowing them to focus more on growing their business in the dynamic Malaysian market.

Business Proposal Writing Services in Malaysia

Jasveena is an engineer by education and an entrepreneur by passion. She obtained her bachelor’s degree in Chemical Engineering in 2013. Having dabbled in the gig economy in 2013, she found entrepreneurship more fulfilling and later pursued MBA at UTM, Skudai and graduated in the year 2017. She founded International Book Promotion in 2013, catering to the needs of authors to enhance their sense of author branding and IBP Editing Services in 2016, catering to academicians’ needs for manuscript formatting and business needs for content and business writing. Jasveena is a blogger-turned-author, who writes on social issues. Visit her blog “Thoughts and Views That Matter” to read her work . She co-authored a book entitled ‘The Sin of a Fresh Graduate’ illuminating that in between many career paths, there is a road not taken, that would make all the difference.

Are you unsure of doing business in Malaysia? Need help to put your ideas onto paper? You’ve landed on the right page. Transform your business idea into a bankable reality by having us research and curate comprehensive business proposal writing services in Malaysia that win investors’ interest.

Business plan malaysia, we’ve worked with sme bank malaysia and investors to help clients get funding and sme loans of up to rm 5 million..

Factors Considered When Quoting a Business Plan Writing Project

• The amount of preliminary work involved • The complexity of the business model • The target audience of the business plan • The complexity of the research involved • The timeline for project completion

WhatsApp Us For Instant Assistance

Looking for proposal writing for an NGO rather than a business? Or need something simpler and within your budget? Fret not. WhatsApp us, and we will assist you further. We do all things writing and can customize a solution for you.

We customize our work to meet your needs and therefore, the exact price for each project could only be finalized after fully understanding your project requirements.

How We Work

Our payment plan is 40%-40%-20%. Deposit – 40% (We will conduct a Zoom call to discuss the basics of your business using a set of questionnaires we prepare). The next 40% is due when we have completed the first draft of your business plan – you will review the draft and provide us the suggestions for amnedments in a list so that we can amend it in one go. The final 20% is due when the final draft is ready. We protect your personal information and business credentials by securing the information provided to us with a Non-Disclosure Agreement (NDA) . We take a minimum of 2 weeks to complete your work. You can communicate your urgency to us so that we can accommodate your needs.

Packages Available

Brief Business Plan (RM 1500 – RM 2200)

Best fits when the basic business model is available and you already know the ways of doing business in Malaysia. A business plan writing service in Malaysia is needed to enhance existing business models or to put ideas into paper with value propositions and financial forecasts. The package includes: • Executive Summary • Business Description • Market Analysis • Funding Requirements • Financial Projections

Complete Business Plan (RM 3000 – RM 3500) – sufficient for most start-ups and businesses

Best fits businesses needing business proposal writing services in Malaysia to obtain bank loans like SME bank Malaysia loans or grants. The write-up would be highly tailored to meet the requirements of fund providers. The package includes: • Executive Summary • Business Description • Market Analysis • SWOT Analysis • Strategy and Implementation • Organization and Management Team • Marketing Plan • Risk Factors • Financial Projections • Funding Requirements

Perfect Pitch Business Plan (RM 4500 – RM 8000)

Best fits businesses looking for private equities or venture capitals. The business plan writing will include a pitch deck, with pre- and post-engagement consultation services. A unified overarching business theme will be focused on establishing a strong sense of branding. The package includes: • Executive Summary • Business Description • Market Analysis • SWOT Analysis • Strategy and Implementation • Organization and Management Team • Marketing Plan • Risk Factors • Funding Requirements • Exit Strategy • Presentation Slides • Post-Engagement Consultations • Branded Visual Theme

Here are some of our sample work snapshots from the past works for business proposal writing services in Malaysia

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A business plan is an essential tool for growing and managing the business. So, you must have a business plan before you start a business.

A well-designed business plan can only make you a successful businessman. A business plan is a document that illustrates your plans and goals for the industry. It is essential to find the right consultant or expert, who can guide you about planning business in Malaysia.

However, if you want to acquire a loan from a bank, they may require a business plan. The people working in the bank will analyze the business plan before handing out the credit.

In addition to that, if you are looking to attract investors, you need a business plan to show them your plan and the expected Return of Profit. Below I am going to describe some of the important reasons why a company needs a business plan in Malaysia.

To avoid big mistakes

Get control over your business, to develop a safety plan, to understand your competition, seek investment for a business, to raise capital, frequently asked question (faq).

Many young entrepreneurs fail in business because they don’t have a business plan. By the time they realize the importance of the business plan, it’s too late.

Therefore, We would suggest young entrepreneurs set a business plan before any significant failure take place in your business. Most of the newly started business does not have enough capital to reach their plan or goals. Having a business plan will assure that everyone in the company is aware of the goals and strategies.

By developing a business plan will help you to look at what’s happening and what you can improve within your business. If you have employees, the planning process can be an excellent opportunity to find feedback on possible ideas and improvements.

Your employees will appreciate you for taking their feedback, and they will contribute to your business. Take the time to plan your business; this will help you to understand the sense of control about your business future.

It is essential to set your list of priorities regarding goals, mission, and performance. Besides that, it is a safety measure as well. For instance, what if this idea does not work, what should you need to change to improve or keep the business going. Without a business plan, the company will surely not have proper instruction or manual to follow if the company starts losing.

Creating a business plan will help you analyze your competition. All companies have direct or indirect competitors, and it is essential to understand the competitiveness of your company. Once you acknowledge who your competitor is, you can easily beat them in business.

It doesn’t matter whether it is a startup company or not. If you want someone to invest in your company, they need to see your business plan. The investors will analyze the business plan before they decide to invest. So, having a business plan is always important.

No matter from whom you want to take a loan from (family, friends or financial institution) showing your business plan to them is the best way to communicate. It is also a way of trying to convince them to lend you the loan for starting the business. You also need to assure them that they will be getting their money back as well.

Q: Can you make a business plan by yourself?

• Yes, you can. However, make sure you have done your research before planning it.

Q: Can I make a business plan for an existing business?

• Yes, you can. It will help your current employees know better about the companies plan. Besides, it can help plan the financial well at the same time.

Q: Can I make a business plan if my business is currently growing?

• Yes, you definitely can. It will help you raise capitals, and it can help you create ways or strategy to manage your business growth.

Q: Is it necessary to take expert advice for business planning?

• If you face problems of planning out of your business, you can take expert advice. Expert advice is always useful for planning a business.

This article described some of the critical reason, why a company needs a business plan. A good business plan helps you to meet your business goal and allows you to communicate with your vision.

For making a good business plan, you need to research on various aspects such as marketing strategy, business goal, obstacle, target audience, etc.

A good business plan helps you to operate and function your business correctly. It also ensures that the plan will be played out accordingly. The goal or mission of the company will be easier to accomplish by setting it up in the business plan.

Since 2016, Premier Three Consulting Firm is helping international investors to plan out their business. So, if you need business planning, you can contact us.

We have several years of experience in this field, and our highly educated professionals will help you out to set up a business plan. Our fees are comparatively low than other and we provide better and fast service.

Do not hesitate to  Contact Us today for immediate Service. Call/Whatsapp us now. 

Important informations.

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Virtual office in Malaysia, Kuala Lumpur, Selangor

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Services of Business Setup in Malaysia

Malaysia is one of the most vibrant countries in Southeast Asia for starting a new business, where it offers many advantages as an investment destination for starting an online business. The robust economic growth has positioned itself as the ideal gateway for foreign investors to enter the other markets in the region for setting up a business. Malaysia offers opportunities and capabilities across the value chain, from manufacturing to distribution or technical expertise in the services sector for starting a new business. Another attractive point is ease of starting a business in Malaysia where it only requires 3 procedures, less than 7 days and costs only 7.2% of income per capita in fees. Also, the government pro business environment has provided many incentives, grants and tax benefits to investors in Malaysia for setting up a business.

Looking at the country’s GDP, the domestic demand in Malaysia contributes to more than half of its GDP. Coupled with the government’s efforts, the market offers thriving opportunities for companies providing consumer goods and services which will, in turn, ease the cost of living. Furthermore, Malaysia is well-recognised as a global leader in Islamic financial services, according to the Global Islamic Finance Report 2016 (GIFR 2016), after overtaking Iran in terms of the Islamic Finance Country Index (IFCI).

The following pages provide guidance on alternate options on how to start a business, how to make a business, how to start a business plan, how to open a business, how to start a new business, and how to set up a business in Malaysia.

• Branch Office Registration in Malaysia

Malaysia Representative Office Setup

Shelf company for sale, branch office registration malaysia.

Instead of incorporating a new company in Malaysia for starting an online business, the foreign investor may choose to incorporate his existing company here in Malaysia as a branch office . A branch office is meant for foreign investors if they plan only marketing operations in Malaysia. More paperwork is required in the procedures for a branch office and the fees are based on the share capital of the foreign parent company overseas in foreign currency (which will be converted to Ringgit Malaysia at the current exchange rate).

Malaysia representative office in Malaysia means that a foreign company in Malaysia could perform certain limited activities for its head office or principal through the representative office. As such, a representative office does not have to be incorporated as a. However, a representative office cannot have any business transaction or derive any form of income [from its operation] in Malaysia.

Please note that the application for permission to set up a representative office must be obtained from the government:

• Ministry of Trade and Industry (MITI )- for trading businesses
• Malaysia Investment Development Authority (MIDA) – for investment in manufacturing and services
• Bank Negara Malaysia -for foreign banks
• Ministry of Tourism – for travel related services

A shelf company is one that is already registered with the SSM or Companies Commission of Malaysia, which is the official regulator of all companies operating legally in Malaysia. Shelf companies are companies that have been registered as general trading, and therefore, they are able to perform all types of businesses so long as the operations do not contravene the local laws and regulations of the country. If additional permits and approval are required, they must be done so before the company commences business operations.

To engage with the reliable services of Business Setup in Malaysia, please contact us via email for more information about how to start a business, how to make a business, how to start a business plan, how to open a business, how to start a new business, and how to set up a business in Malaysia.

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Why A Good Business Plan Is Crucial For Your Malaysian Company’s Success

Running a successful business in Malaysia takes more than just a great idea and a passionate team. To ensure long-term success and profitability, it is essential to have a good business plan in place. A business plan is a blueprint that outlines a company’s goals, strategies, and operations. It provides a roadmap to guide decision-making, helps in securing funding and investments, and can significantly impact a company’s bottom line. In this awe-inspiring article, we will explore the importance of having a good business plan and how it can help your Malaysian company achieve success.

Table of Contents

Importance of a Good Business Plan

A good business plan serves as a strategic document that outlines a company’s vision, mission, goals, and objectives. It includes a detailed analysis of the industry, target market, and competition. This analysis can help a company identify its strengths, weaknesses, opportunities, and threats. With this information, a company can develop a solid plan to achieve its objectives, allocate resources effectively, and make informed decisions. A good business plan also serves as a tool to monitor progress, measure success, and make adjustments when necessary. Overall, a well-crafted business plan can set a company up for long-term success and help it navigate challenges along the way.

Malaysia Company Incorporation

When starting a business in Malaysia, one of the first steps is company incorporation. The process of Malaysia company incorporation involves registering a new company with the Companies Commission of Malaysia (SSM). SSM company registration is essential for legal compliance and establishing credibility with customers and investors. A good business plan is a requirement for Malaysia company incorporation and is an important aspect of the registration process.

The Role of a Corporate Service Provider

Developing a good business plan can be a complex and time-consuming process, but it is a crucial step in ensuring the success of a company. Many business owners find it helpful to work with a corporate service provider to develop a comprehensive business plan. Corporate service providers in Malaysia, such as 3E Accounting Malaysia, offer a range of services that can help businesses with company incorporation, accounting, taxation, and compliance. Working with a corporate service provider can save time, reduce stress, and ensure that a company’s business plan is comprehensive and effective.

A good business plan is crucial for the success of any Malaysian company. It provides a roadmap to guide decision-making, helps secure funding and investments, and sets a company up for long-term success. Malaysia company incorporation requires a comprehensive business plan, and working with a corporate service provider can help business owners develop an effective plan. Therefore, seeking professional assistance from a corporate service provider like 3E Accounting Malaysia is highly recommended for any business owner looking to establish and grow their business in Malaysia.

“Developing a good business plan can be challenging, but with the right help, it can lead to endless possibilities for your company.”

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Writing a Business Plan

Alex Genadinik

Management/business management and corporate governance.

4.6 (535 Rating)

Course Requirements

Learn how to write a business plan that would bring you one step closer to realizing your dreams.

Course Description

Revolutionary, new way to write a professional business plan that will help you identify the most effective business strategies for your situation. Take this step to start your business, achieve independence, and become your own boss. Latest course update for 2022: More business plan examples of different businesses across different industries Innovative three-sentence business plan to get you started Take your three-sentence business plan, expand it into a one-page business plan, and then a full and professional business plan Top-ten business planning mistakes and exercises to help you avoid them More details added to the financials section Learn how you can turn yourself into a stronger entrepreneur

Course Outcomes

1.Write your business plan that contains winning business strategies 2.Create a strong business model for businesses like: Local services, freelancing, eCommerce, affiliate, self-branded businesses, and innovative start-ups 3.Step-by-step walkthroughs for writing each section of a business plan 4.Evaluate your target market: Is it big enough? Is it lucrative enough? 5.Identify the most effective monetization strategy for your business 6.Master business planning concepts like cash flow statement, lifetime customer value, and unit economics 7.Save money by not having to hire a business plan consultant or buying business plan templates

Course Curriculum

Course 1 20 lectures.

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Free Business Plan Template for Small Businesses (2024)

Use this free business plan template to write your business plan quickly and efficiently.

A good business plan is essential to successfully starting your business —  and the easiest way to simplify the work of writing a business plan is to start with a business plan template.

You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to writing a business plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by other  entrepreneurs and startups. 

Ahead, learn what it takes to create a solid business plan and download Shopify's free business plan template to get started on your dream today. 

What this free business plan template includes

• Executive summary
• Company overview
• Products or services offered
• Market analysis
• Marketing plan
• Logistics and operations plan
• Financial plan

This business plan outline is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.

That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is to secure funding , check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.

Our free business plan template includes seven key elements typically found in the traditional business plan format:

1. Executive summary

This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand. 

2. Company overview

This section of your business plan will answer two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its guiding principles.

3. Products or services offered

What you sell and the most important features of your products or services. It also includes any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it will show up in this section of your business plan.

4. Market analysis

This section includes everything from estimated market size to your target markets and competitive advantage. It’ll include a competitive analysis of your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.

5. Marketing plan

How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, your sales plan, and your metrics and milestones for success.

6. Logistics and operations plan

Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.

7. Financial plan

It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash-flow statement . You can also include whether or not you need a business loan and how much you’ll need.

Business plan examples

What do financial projections look like on paper? How do you write an executive summary? What should your company description include?  Business plan examples  can help answer some of these questions and transform your business idea into an actionable plan.

Professional business plan example

Inside our template, we’ve filled out a sample business plan featuring a fictional ecommerce business . 

The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. If you’re looking for funding, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.

Lean business plan example

A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires. 

Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:

• Company description
• Key members of your team
• Customer segments

💡 Tip: For a step-by-step guide to creating a lean business plan (including a sample business plan), read our guide on how to create a lean business plan .

Benefits of writing a solid business plan

It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:

• Test the viability of your business idea. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market. 
• Plan for your next phase. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
• Clarify marketing strategy, goals, and tactics. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
• Scope the necessary work. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
• Hire and build partnerships. When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
• Secure funds. Seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital —is one of the most common reasons to create a business plan.

Why you should you use a template for a business plan

A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or simple business plan template.

No blank-page paralysis

A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.

Guidance on what to include in each section

If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.

Knowing you’ve considered every section

In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.

Tips for creating a successful business plan

There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.

Understand the audience for your plan

If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.

Know your goals

Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.

Take it step by step

Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.

Maximize your business planning efforts

Planning is key to the financial success of any type of business , whether you’re a startup, non-profit, or corporation.

To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.

Business plan template FAQ

What is the purpose of a business plan.

The purpose of your business plan is to describe a new business opportunity or an existing one. It clarifies the business strategy, marketing plan, financial forecasts, potential providers, and more information about the company.

How do I write a simple business plan?

• Choose a business plan format, such as a traditional or a one-page business plan. 
• Find a business plan template.
• Read through a business plan sample.
• Fill in the sections of your business plan.

What is the best business plan template?

If you need help writing a business plan, Shopify’s template is one of the most beginner-friendly options you’ll find. It’s comprehensive, well-written, and helps you fill out every section.

What are the 5 essential parts of a business plan?

The five essential parts of a traditional business plan include:

• Executive summary: This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan.
• Business description: This section outlines the business concept and how it will be executed.
• Market analysis: This section provides an in-depth look at the target market and how the business will compete in the marketplace.
• Financial plan: This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis.
• Management and organization: This section describes the management team and the organizational structure of the business.

Are there any free business plan templates?

There are several free templates for business plans for small business owners available online, including Shopify’s own version. Download a copy for your business.

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Business Plan Examples & Templates | How To Write A Business Plan

How To Write A Business Plan: the coffee shop business plan sample that started it all!

Here are the business plan examples and templates you can use as a step by step guide to writing a business plan – in editable Word / Excel format. This is a walk-through of my actual business plan for those looking to put a plan together. The “Business Plan Toolkit” includes my actual business plan, the pro-forma template for projecting costs and the break-even analysis graph + several additional free tools to make writing your business plan a breeze – even if you have never written a business plan before!

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This is everything you need to write the perfect business plan without all the hassle. Sign up on our website for the free business plan template to help get you started. Business Plan Examples – writing a business plan doesn’t have to be so hard!

http://www.business-plan-examples.com/business-plan-toolkit.html

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Creating an effective business plan for your e-commerce business in Malaysia

• August 24, 2023

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Table of contents.

In today’s digital age, e-commerce has emerged as a thriving avenue for entrepreneurs to establish and expand their businesses. However, venturing into a competitive landscape such as Malaysia requires more than having just a functional e-commerce website and product listings . A well-crafted e-commerce business plan that helps entrepreneurs align operations towards goals, weather market challenges and is crucial for online success. 

This article delves into the fundamentals of creating such a plan, encompassing various key aspects. Here, we will explore the vital differences between a business plan and a business model, along with essential steps like identifying a niche market, conducting thorough market research, and selecting an appropriate e-commerce platform . Additionally, we will outline the critical elements of a comprehensive e-commerce business plan, ensuring you are well-equipped to embark on your digital retail journey.

What is an e-commerce business plan?

An e-commerce business plan is a comprehensive blueprint outlining the strategic direction and operational framework for an online retail venture. Tailored to the digital marketplace, it articulates the business’s mission, objectives, and strategies. This guiding document provides an e-commerce business owner in Malaysia with a clear overview of offerings, target market, marketing approach, financial projections, and operational logistics . 

Crucially, it helps identify potential pitfalls, anticipate popular Malaysian market trends, and craft effective strategies for success. A well-structured plan enhances credibility from customers and investors alike and helps secure funding. Additionally, it is key to establishing internal coordination, streamlining decision-making, and aligning the team toward the shared objectives of the company. It is the foundation upon which successful e-commerce ventures are built, driving growth and opportunities in the digital realm.

Difference between a Business Plan and a Business Model

The distinction between a business plan and a business model lies in its scope and purpose. A business plan outlines the concrete and customised operational processes of an e-commerce venture. It encompasses detailed strategies, market analysis, financial projections, and implementation guidelines. 

On the other hand, a business model is a conceptual framework on which the business plan is built. It defines the core value proposition and revenue streams. In addition to this, a business plan aims at outlining the target market and key partnerships for a Malaysian business.

While the business plan delves into the specifics of execution, the business model provides the foundational logic and structure to ensure the e-commerce venture’s viability and success. Together, these elements form a cohesive strategy for growth and sustainability in the extremely dynamic digital landscape.

How to Create a Business Plan for Malaysia

Embarking on an e-commerce venture in Malaysia offers immense opportunities in a rapidly growing digital landscape. However, success in this dynamic market necessitates a well-structured and comprehensive business plan. In the forthcoming section, we will present a step-by-step guide to developing an e-commerce business plan tailored specifically for Malaysia. This guide will encompass key considerations and essential components necessary to create a robust and effective blueprint for your online retail journey.

Let’s dive into the process of crafting a winning e-commerce business plan for Malaysia.

Find a Niche Market

Identifying a niche market in e-commerce is crucial for success, enabling businesses to target specific audiences, tailor products, and establish a strong brand identity. Niche markets often have less competition, allowing businesses to position themselves uniquely and become authoritative players.

Conduct thorough market research by analysing trends, consumer demands, keyword search volumes, social media discussions, and industry forums. Survey potential customers and seek expert opinions to validate market potential and narrow down the best niche for your e-commerce venture.

Conduct market research

To succeed in the Malaysian e-commerce market, understand local target audience demographics, cultural nuances, and buying behaviours. This may include the dip in retail shopping post-pandemic or even the rising e-commerce penetration rate in Malaysia. Nevertheless, analysing market trends, such as mobile commerce growth, helps entrepreneurs stay ahead.

So, perform a comprehensive competitor analysis to gain a competitive edge. Identify gaps in the market and untapped opportunities to position your e-commerce business strategically and offer unique value propositions.

Look for an appropriate e-commerce platform

Choose the right e-commerce platform, such as Shopify , WooCommerce , or BigCommerce , based on features and customisation options that suit your business needs. Consider the following criteria when opting for an e-commerce site:

• Ease of use
• Scalability
• Customer support
• Integration with third-party tools

In addition to these criteria, evaluate the performance, loading speed, and mobile responsiveness of the platform for a smooth user experience.

Build a Website

Secure reliable hosting with optimal uptime and fast loading times. Choose a memorable domain name and set up branded email addresses to enhance credibility. A professional domain name adds credibility to your e-commerce business, while branded email addresses foster trust with customers compared to generic email services.

Pick The Right Payment Gateway

Payment gateways in Malaysia, such as iPay88, PayPal, and BillPlz, facilitate secure transactions between customers and e-commerce businesses, encrypting sensitive data during online purchases. Therefore, a business will have to choose a payment gateway that will fulfil the following basic criteria: 

• Transaction fees
• Supported currencies
• Integration options
• Compliance with industry standards and regulations

Determine a Logistics Partner

Efficient logistics and order fulfillment are crucial for a successful e-commerce operation, ensuring timely and satisfactory customer experiences that foster loyalty and positive word-of-mouth. Evaluate logistics partners based on capabilities, coverage, reliability, and cost-effectiveness. Partner with a reputable and locally-oriented logistics provider like Locad for a competitive advantage and optimised last-mile delivery in the Malaysian market.

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E-commerce Business Plan Elements

An e-commerce business plan consists of a whole range of elements that come together to help create the foundation for a successful business venture. These include the vision, mission, financials, and more. Read along as we explore them below.

Executive summary

The executive summary serves as a condensed version of the comprehensive e-commerce business plan, highlighting its key elements and strategic direction. It provides readers with a quick understanding of the venture’s objectives, target market, unique value proposition, and financial projections.

The executive summary plays a pivotal role in capturing the attention of potential investors, stakeholders, and partners. Its succinct nature allows busy readers to grasp the essence of the business plan quickly, enticing them to delve further into the detailed document.

Company mission and overview

The company mission and overview articulate the core purpose, long-term vision, and values that guide the e-commerce venture. It outlines the problem the business aims to solve and the unique approach it takes to achieve its goals.

A well-defined mission and vision statement provides a clear direction and serves as a compass during decision-making processes. They align the team, foster a strong company culture, and reinforce the commitment to the venture’s overarching objectives.

Market analysis

The market analysis delves into the e-commerce industry, examining trends, market size, and growth potential. It analyses the target market’s demographics, preferences, and pain points. Furthermore, it assesses competitors, their strengths, weaknesses, and market positioning.

Through market analysis, businesses identify unmet needs and gaps in the market, uncovering opportunities to differentiate themselves. In Malaysia, e-commerce has seen double-digit sales increases over the past decade. This type of knowledge is invaluable for crafting compelling value propositions and strategies that resonate with the target audience.

Products and services offered

This section provides a comprehensive description of the products or services offered by the e-commerce store. It highlights the unique selling points, features, and benefits that distinguish the offerings from competitors.

In this section, businesses provide specific details about each product or service, showcasing their attributes, applications, and any complementary offerings. A clear understanding of the offerings helps potential customers make informed purchase decisions.

Marketing Plan

The marketing plan outlines a multi-faceted approach to reach the target audience, encompassing digital marketing, social media campaigns, influencer partnerships, SEO, and content marketing. It identifies the most effective channels to create brand awareness and drive customer acquisition.

Through targeted marketing strategies, businesses can effectively engage with their intended audience, build brand recognition, and establish a strong online presence. This section also addresses customer retention efforts to foster brand loyalty .

Operations Plan

The operations plan defines the essential processes and procedures involved in running the e-commerce business smoothly. It covers inventory management , order fulfillment, customer service, and the logistics involved in shipping and returns . Standard Operating Procedures or SOPs involved in these areas of e-commerce ensure consistency in operations and enable seamless coordination among different team members. Clearly documented SOPs optimise efficiency, reduce errors, and facilitate scalability as the business grows.

Financial Plan

The financial plan presents detailed projections of revenue, expenses, and profits over a specific timeframe. It includes a budget outlining planned expenditures and expected returns, enabling businesses to make informed financial decisions.

The financial plan also addresses the initial capital required to launch the e-commerce venture and outlines the strategies for achieving profitability. Additionally, it may include an exit strategy that outlines potential scenarios for investors or founders to exit the business.

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How Locad Can Help

In the ever-evolving landscape of e-commerce, a well-crafted business plan serves as the cornerstone of success. From identifying a niche market and conducting thorough market research to formulating effective marketing and operational strategies, each element contributes to a blueprint for growth and profitability. 

And as an e-commerce logistics partner, Locad plays a crucial role in supporting businesses with efficient and reliable order fulfillment, optimising last-mile delivery for enhanced customer experiences. In a highly competitive market like Malaysia, you need multiple strategic warehouses and fulfillment centres to meet customers’ growing expectations. For emerging businesses, renting out entire warehouses is expensive. However, a 3PL like Locad and its scalable infrastructure help businesses with storing , picking , packing , shipping , and tracking shipments. 

So, embrace the power of a comprehensive business plan and partner with Locad to navigate the complexities of e-commerce with confidence. Start building your path to success today!

Which e-commerce platform is best for small businesses in Malaysia?

Shopify and WooCommerce are popular choices for small businesses in Malaysia due to their user-friendly interfaces, scalability, and extensive app integrations.

How to register an e-commerce business in Malaysia?

Register your business with the Companies Commission of Malaysia,  to obtain a business registration certificate. Check for additional licences or permits depending on your products or services.

Can a foreigner start an online business in Malaysia?

Yes, foreign entrepreneurs can start an online business in Malaysia. However, they may need to comply with certain regulations, obtain necessary permits, and consider the business structure.

Is e-commerce taxable in Malaysia?

Yes, e-commerce transactions in Malaysia are subject to the Goods and Services Tax (GST) or the Sales and Service Tax (SST) based on the business turnover threshold.

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. Additionally, she is a Columnist at Inc. Magazine.

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Learn more about Business Plan in Malaysia

A business plan is a comprehensive document that outlines the goals, strategies, and operations of a business venture. It serves as a roadmap for entrepreneurs and organizations, providing a detailed overview of their business idea, market analysis, financial projections, and implementation strategies. A well-crafted plan not only helps entrepreneurs clarify their vision and objectives but also serves as a vital tool for securing funding, attracting investors, and guiding decision-making. Themis Partner offers you an easy to edit Business Plan drafted by Lawyers to comply with the law in Malaysia.

📄  Related documents

Table of contents, what is a business plan, why use a business plan, what should a business plan include, how does it contribute to the success of a business, what are the benefits for entrepreneurs, what if i don’t have a business plan, how does it mitigate risks and challenges.

A business plan is a written document that outlines the goals, objectives, strategies, and financial forecasts of a business. It serves as a roadmap for entrepreneurs, guiding them in establishing and operating their business effectively. This plan typically includes sections that cover various aspects of the business, such as executive summary, company description, market analysis, product or service offerings, marketing and sales strategies, organisational structure, financial projections, and funding requirements.

There are several compelling reasons why entrepreneurs should use this plan. Here are some key reasons:

1. Clear Vision and Goals

It helps entrepreneurs articulate their vision for the business and set clear goals. It allows them to define their mission, values, and objectives, providing a roadmap for the future.

2. Strategic Planning

It enables entrepreneurs to develop a strategic approach to their business. It involves analysing the market, identifying target customers, understanding competition, and formulating strategies to gain a competitive edge. This helps in making informed decisions and minimising risks.

3. Financial Planning

It includes financial projections and budgeting, which aids in assessing the financial feasibility of the business. It helps entrepreneurs determine the funding needed, forecast revenue and expenses, and understand cash flow requirements. This is vital for attracting investors and securing financing.

4. Attracting Investors and Partners

A well-crafted plan enhances the credibility of the business and attracts potential investors, partners, and lenders. It demonstrates that the entrepreneur has conducted thorough research, has a solid strategy in place, and understands the market dynamics.

5. Operational Guidance

It provides a framework for managing day-to-day operations. It outlines the organisational structure, responsibilities, and processes, ensuring that everyone in the business is aligned and working towards common goals.

6. Measuring Progress and Accountability

With it, entrepreneurs can establish key performance indicators (KPIs) and milestones to track progress. Regularly reviewing and comparing actual results against the plan allows for adjustments, accountability, and measuring success.

7. Adapting to Changes

These documents are not static documents; they can be revised and adapted as circumstances change. They provide a foundation for evaluating market shifts, industry trends, and new opportunities, enabling entrepreneurs to make strategic adjustments to stay competitive.

ℹ️ Overall, using a plan provides structure, clarity, and direction to entrepreneurs. It helps them make informed decisions, attract resources, and navigate the challenges of running a successful business.

A comprehensive plan should include several key elements to provide a thorough understanding of the business and its strategies. These elements typically include an executive summary, company description, market analysis, product or service offerings, marketing and sales strategies, organisational structure, financial projections, and funding requirements.  

ℹ️ By including these crucial elements, the document presents a comprehensive and well-rounded view of the business, enabling entrepreneurs to make informed decisions and communicate their vision effectively.

In Malaysia, a well-developed business plan plays a crucial role in contributing to the success of a business. It provides a roadmap for entrepreneurs, enabling them to navigate the competitive landscape and make informed decisions. Furthermore, a business plan serves as a foundation for drafting essential legal agreements, such as the Shareholders Agreement and Share Purchase Agreement . These agreements define the rights, responsibilities, and obligations of shareholders, ensuring clarity and transparency in the management and operation of the business. The shareholders agreement outlines the roles, voting rights, and profit-sharing arrangements among shareholders, fostering a harmonious and cooperative environment. On the other hand, the share purchase agreement governs the purchase and transfer of shares, protecting the interests of both buyers and sellers. By incorporating these agreements into the business plan, entrepreneurs in Malaysia can establish a solid legal framework, build trust among shareholders, and mitigate potential conflicts, thereby enhancing the overall success and stability of the business.

Entrepreneurs can reap numerous benefits by utilising a business plan, including the establishment of a Memorandum Of Understanding (MOU) . A business plan provides a structured framework for entrepreneurs to outline their goals, strategies, and financial projections. It assists in clarifying their vision, identifying target markets, and understanding competition. By documenting these aspects, entrepreneurs gain a deeper understanding of their business and can effectively communicate their ideas to stakeholders. Additionally, a business plan helps entrepreneurs secure financing by demonstrating the viability and potential profitability of their venture. Furthermore, the creation of an MOU within the business plan allows entrepreneurs to formalise agreements with partners, investors, or other entities involved in the business. The MOU outlines the terms and conditions, roles and responsibilities, and mutual objectives, creating a solid foundation for collaboration and minimising misunderstandings. Ultimately, a well-crafted business plan, coupled with an MOU, empowers entrepreneurs to navigate challenges, attract resources, and increase the likelihood of success in their entrepreneurial endeavours.

Not having a business plan can significantly hinder the success and growth of a business. Without it, entrepreneurs may lack a clear roadmap and strategic direction, making it challenging to make informed decisions and set achievable goals. The document serves as a crucial tool for assessing the financial feasibility of a venture, understanding the market dynamics, and identifying potential risks and challenges. Without these insights, entrepreneurs may struggle to attract investors, secure financing, or effectively allocate resources. Additionally, it helps entrepreneurs communicate their vision, mission, and value proposition to stakeholders, such as employees , partners, and customers. Without a well-articulated plan, entrepreneurs may face difficulties in conveying their ideas and building credibility.

ℹ️ Overall, while it may be tempting to overlook the creation of this document, doing so can leave entrepreneurs without a strategic foundation, potentially leading to missed opportunities and increased risks in the competitive business landscape.

A well-developed plan plays a crucial role in mitigating potential risks and challenges that entrepreneurs may encounter.  

In summary, it serves as a risk management tool by providing entrepreneurs with a structured approach to identify, assess, and mitigate potential risks and challenges in their business operations.

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BUSINESS ARTICLE

Business Expansion into Malaysia — Yay or Nay?

10 Dec 2021

4 Reasons why incorporating in Malaysia could be a wise decision

Over the last ten years, Malaysia has become a destination of choice for business expansion. The World Bank ranked Malaysia at a respectable 55th place out of 157 countries across the globe as the easiest place to do business. While the government continues to play its part in facilitating greater ease, there are geographical factors that help boost Malaysia’s chances as the next destination to launch your business expansion strategy.

The country is strategically located in the Asia Pacific Rim, at the centre, with numerous other ASEAN nations surrounding it. This means businesses in Malaysia can take advantage of and gain easy access to a substantial 667 million regional population 1 , which together boast a combined GDP of over US$3.3 trillion 1 .

If you are thinking of expanding your business into Malaysia, here are FOUR reasons why it would prove to be a wise choice.

01 It’s Quick, Easy, and Low-Cost to Incorporate

Comparatively, Malaysia is possibly one of the easiest places for   businesses to incorporate . Malaysia’s efforts to reform—policy enhancements and procedural improvements—over the past few years have increased efficiencies and reduced the waiting time involved with registration and permit application processes. Registration of a new business takes 5-10 days, and employment permits for expatriates are processed within 5 working days. Find out the steps on How to register a company in Malaysia .

Operationally and financially, Malaysia has built a strong case for itself. It boasts one of the lowest start-up costs compared to the other Asia Pacific countries, as shown by its 17.5 days and 11.1% of income per capita 2  required to start a business. This is largely driven by its low property rental rates, with an average gross rental yield of 5.16% 3 , and its generally low minimum wage.

Knight Frank currently estimates the supply of office space in Kuala Lumpur (KL) city is 58.33 million sq ft, followed by KL fringe with 30.31 million sq ft and Selangor with 26.09 million sq ft, which brings the total to 114.73 million sq ft 4 .

In addition to low office rental rates, businesses can operate economically because of Malaysia’s relatively low minimum wage, which sits at RM1,288.35 (US$275.23 5 ) per month.

02 You’ll Avoid Double Taxation for Your Business Expansion Strategy

In most countries, double taxation usually occurs when any taxpayer of a specific country engages in international business transactions. However, this is not the case for businesses in Malaysia. The country is a part of   DTAs (Double Taxation Agreements)  involving countries located in every continent of the world. This allows Malaysia to create an attractive tax environment where a greater international flow of investment, trade and financial activities, and technical knowledge are facilitated and exchanged.

These DTAs outline the treatment of income or profits earned outside Malaysia by Malaysian businesses and within Malaysia by foreign-owned businesses. On this note, companies in Malaysia are protected against the possibility of a singular income being subject to two countries’ taxes simultaneously. The double taxation agreement also provides taxpayers with certainty about their tax treatment. In the event of an absent DTA, businesses are still eligible for tax relief through the foreign tax credit.

For advisory on double taxation reduction, consider speaking with a professional tax consultant who can provide expert guidance on how to enhance your company’s tax savings.

03 The Locals are Ready to Buy

When shortlisting a country for your business expansion plans, qualifying your list of countries based on their economic strength is an excellent place to start. A country’s GDP is the best measure to assess its overall economic strength because it is closely connected with the country’s average consumer purchasing power. Malaysia’s total nominal GDP is expected to reach US$710 billion by 2030 and US$1 trillion by 2035 6 , with a healthy growth rate of 4.0% – 4.5% 7 .

Malaysia’s strong GDP is attributed to the government’s effort to remain robust in the agriculture, construction, manufacturing, mining, and services industries. The theme of Budget 2024, “Reformasi Ekonomi, Memperkasa Rakyat 8 ” (Economic Reform, Empowering People), focuses on three main objectives: improving governance and public delivery system, transforming the business and economic sectors, and enhancing the quality of life of the people. This budget, which is the largest in the nation’s history, also reaffirms the government’s dedication to fiscal reforms to overcome the dual challenges of a less robust global economic outlook and Malaysia’s financial constraints.

With such a reform-oriented and resilient budget, Malaysians’ incomes are improving, and depending on your type of business, you can benefit from a growing number of consumers who are able or willing to purchase low- to middle-market products and services readily.

04 The Local Government Supports Your International Expansion Strategy

Malaysia has been growing economically in tandem with global trends. In line with the adoption of Industrial Revolution 4.0 (IR4.0), it has introduced its own   National 4IR Policy . This broad, overarching national policy drives coherence in transforming the socioeconomic development of the country through the ethical use of 4IR technologies, such as Artificial Intelligence, Blockchain, and the Internet of Things.

The National 4IR Policy aims to attract foreign investments by fostering a culture of innovation and digitalisation, enhancing the performance and productivity of local industries, and enabling Malaysia to join global value chains. The policy also offers incentives and support for foreign investors who adopt 4IR technologies and develop the human capital and infrastructure in Malaysia. By tapping into the opportunities of 4IR, Malaysia can position itself as a regional hub for advanced and knowledge-intensive industries and achieve its vision of becoming a high-income and inclusive nation by 2030.

While there are limited restrictions on foreign ownership in certain strategic sectors, the Malaysian government encourages the inflow of foreign investments. This is apparent in the incremental liberalisation of equity conditions by various government agencies and the broad range of attractive incentives to entice new foreign investments and promote local start-ups. These incentives range from generous tax exemptions and allowances to grants.

Depending on your business, you might even be eligible for specific grants and incentives aimed at supporting innovation or projects that contribute strategically to the country’s economy and industries. Having a good knowledge of these incentives and how they may apply to you will allow you to maximise your business potential and put you on the fast track to success. Here are 5 grants that might be helpful as you incorporate in Malaysia.

• Cradle Investment Programme 300 (CIP300) stands as a pre-seed initiative targeting aspiring entrepreneurs in sectors such as ICT and other technology fields. This program offers up to RM 300,000 to these startups looking to develop and promote their innovative services.
• MaGIC Global Accelerator Programme (MaGICGAP) is a three-month intensive programme that helps promising local and global mid-to-late stage start-ups with established product-market-fit to get investment. It is designed for start-ups that have launched a product with reasonable traction, as well as highly scalable ones carrying a growth potential business model. This programme is open to start-ups from various industries, such as creative and lifestyle, e-commerce, education, finance, healthcare, and smart cities.
• Technology Acquisition Fund (TAF) is a hybrid grant and loan scheme that assists eligible Malaysian companies in procuring foreign technologies and integrating them into their existing business and manufacturing activities. The fund aims to allow companies to accelerate their growth potential by acquiring new technology and improving their technological capabilities and production processes. This applies to businesses in the priority technology clusters identified by MOSTI, such as aerospace, medical devices, pharmaceuticals, advanced electronics, and renewable energy.
• Domestic Investment Strategic Fund is a matching grant designed to offer incentives to established companies within the manufacturing and services sectors, boasting a minimum of 60% Malaysian equity ownership. This fund supports and encourages reinvestments, encompassing activities such as expansion, modernisation, and diversification. Notably, it facilitates initiatives like training, R&D, outsourcing, international standards, and technology licensing or acquisition. The fund is accessible to businesses in priority sectors such as aerospace, food security, machinery and equipment, and services.
• Women Exporters Development Programme (WEDP) is a specialised export support program aimed at empowering women in the export industry. This three-year program is tailored to assist competitive and sustainable businesses led by women to foster the growth of product and service exports. To be eligible for this programme, the company must be women-owned, hold a majority stake (at least 51%) and hold key leadership positions as the CEO and/or Managing Director. This programme covers both merchandise and services trade across various industries.

The Malaysian government also has a dedicated agency, the   Malaysian Investment Development Authority (“MIDA”) , to help facilitate your international expansion strategy into the country. Besides the ease and low cost of incorporation, Malaysia also offers other advantages for businesses, including:

• Low corporate tax rates of 15%-24% 9  depending on the company size and income
• New Companies Act 2016 simplifies the registration process and reduces the compliance burden for companies

Strategic location  in the heart of the ASEAN Community, providing access to a large and diverse market of over 600 million people

Launch Your Business Expansion Plans in Malaysia with BoardRoom

So, if you were wondering if you should establish incorporation  in Malaysia, here is our advice: you should. Malaysia is a promising destination for business expansion in the Asia Pacific region, offering a range of advantages for businesses across all industries. If you are looking for an international expansion strategy that can help you grow your business and achieve your goals, Malaysia might be the perfect option for you!

However, whilst incorporating a business in Malaysia may seem like a straightforward process, it can be fraught with challenges and risks. You may encounter common difficulties like obtaining the necessary permits, licenses, and approvals, opening a bank account, complying with local laws and regulations, and dealing with cultural and language barriers. These challenges can cause delays, errors, and frustrations and ultimately affect your business performance and reputation.

That is why you should always consult a team of dedicated experts who can guide you through the entire process of company incorporation in Malaysia . These professionals can assist you in your business expansion by leveraging Malaysia’s incentives and opportunities to their fullest extent while allowing you to have peace of mind, knowing that your company will remain compliant with local regulations. By doing so, you can ensure the best possible outcome for your business expansion plan and investment strategy.

Here is where BoardRoom can help

BoardRoom is the market leader in Malaysia for Corporate Services, as we command the majority of the market. Our affiliation with local regulators and government agencies such as the Malaysian Investment Development Authority (MIDA), local stock exchange   Bursa Malaysia ,   Companies Commission of Malaysia ,   InvestKL ,   Malaysia Digital Economy Corporation (MDEC) , etc., allows us to advise on the latest regulatory requirements and incentives accurately and swiftly put your business on a fuss-free journey towards success.

If you are looking to incorporate in Malaysia, or if you already have a business in Malaysia but are looking to outsource your administrative functions so you can focus on expanding your business, a full-suite corporate services provider offering end to end services can help you with:

• Setting up a company to establish a foothold in the region
• Co mpany secretarial services  to ensure corporate governance and compliance
• Setting up an efficient tax structure to optimise the available tax incentives
• Ensuring robust cash flow management with a reliable accounting team
• Setting up an Employee Share Plan to attract and retain top talent
• Ensuring that your employee Payroll  meets local regulatory requirements

Contact us today to find out how we can help you!

• statista.com
• https://www.doingbusiness.org/
• https://www.globalpropertyguide.com/
• The Edge | Knight Frank Kuala Lumpur and Selangor Office Monitor 2Q2023: Klang Valley office market sees sustained, steady recovery
• https://www.statista.com/
• https://www.spglobal.com/
• https://www.nst.com.my/
• https://www.mof.gov.my/
• https://taxsummaries.pwc.com/

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