ReCom.org
Portal Page Forum Wiki Social Groups Scholarship Holders Infobase Site Map About
Go Back   ReCom.org > Forum > ReCom Cafe > Window to the World

Window to the World Discussions of global issues and latest news.

Malaysians setting up business abroad

Reply
 
Thread Tools
StrikeFighter
Super Junior Member
 
Join Date: Jul 2007
Posts: 32
  #1 Old 08-07-2007 Default Malaysians setting up business abroad

I want us to talk about Malaysian citizens setting up business in foreign countries. How can we make a start? What are the first steps involved? Who to contact? How to raise financing? What skills do we need. Please fill in the blanks.
StrikeFighter is offline   Reply With Quote
Fourthshifter
Guest
 
Posts: n/a
  #2 Old 08-07-2007 Default

There will be no government help nor special treatment. How are we gonna survive out there? oh my gowd ! *winks*
  Reply With Quote
jiinjoo Male
Anchors
 
jiinjoo's Avatar
 
Join Date: Jul 2003
Posts: 964
  #3 Old 08-07-2007 Default

You will be surprised by the government help available. If you don't know anything, don't just pour salt on every conversation.


StrikeFighter, are you asking this as an academic exercise (i.e. thinking about it at home) or you actually have a business that you want to expand overseas? Most of Malaysian companies that has footprints beyond Malaysia actually started from home. Besides the home-ground advantages, most multi-national businesses from Malaysia want to secure a base that they can fall back on.

Depending of the nature of your business (e.g. if it's Internet, it's global from day 1, or if it's selling German books or some other niche), you might consider actually talking to the business associations in your region. There are Malaysian professional groups in most regions that I know, maybe not your town, but surely in major towns. Granted they are not government, but he easiest way is to join their businesses and help where you can to learn. No one really starts at ground 0.

Suppose your intended business is to do something overseas leveraging Malaysia in general, then MIDA is the government agency you want to talk to. The Malaysian Industrial Development Authority http://www.mida.gov.my/ have offices around the world to attract foreign investments into Malaysia. However, it's usually not just taking a whole chunk of $ and make them RM. There's lots of homework to be done and you can facilitate this by clearing the path - that's usually a very good kind of business for Malaysians to setup overseas. MIDA can pair you up with businesses who require such services.

Otherwise, you would start just like how others start a business in the country that you're interested to start. I'm not a Singaporean but I start a Singaporean company here exactly the same way a Singaporean starts it, with no difference in taxes and other legal structure if it is a small shop, but might require Singaporean directors in the future.

Financing is a global thing - there can be local funds, your local bank might also do financing, or you can talk to moi if all you need is less than RM5000 seed/angel funding kekeke. Once you start you'll slowly learn about how 1st stage, 2nd stage funding comes in with different VCs you can go to. No point discussing this if you don't even have good business idea

So, first step - think of a GREAT idea.
jiinjoo is offline   Reply With Quote
Reply

Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT +8. The time now is 10:51 AM.


Powered by vBulletin® Version 3.7.6
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.

ReCom stands for Reborn Community. It has no affiliation with other organizations that may share the same name. The views expressed in this website solely represent the authors point of view and do not necessarily reflect the views of ReCom Anchors and other ReCom users.


 

Page generated in 0.07392 seconds with 14 queries