The COVID-19 pandemic has inevitably endangered world trade, and Malaysia has not been able to escape the hit as well. Large Malaysian companies suffer huge losses and await uncertainty. At the same time, the global economy is in severe crisis, and business opportunities during the pandemic in Malaysia remain slim.
Nevertheless, while COVID-19 has completely stopped some businesses, certain business ideas managed to succeed and thrive during this difficult time. Here are the top five business opportunities in Malaysia during the pandemic.
1. Disinfectant And PPE Manufacturing
During the pandemic, the cleaning and disinfectant industry is at its peak. While this business idea can certainly do well in Malaysia, business owners need to keep in mind that many established sectors have already been involved in this particular field. Therefore, if a new entrepreneur intends to enter this market, they must arm themselves with better and more effective products to gain customers.
Cleaning services can bring additional income to this industry. If the company has potential or trained human resources, who are especially good at cleaning and disinfection services, it must deploy them for good business at this time. Business owners can utilise their skills to start a cleaning business. They can also carry out the marketing activities of the company’s disinfectant and PPE products at the same time.
When most of the business giants collapsed, e-commerce seemed to be moving in a different direction. With the growing demand for common items from customers locked in their homes in Malaysia, e-commerce sites seem to be the only convenient and safe option to meet their everyday needs. E-commerce platforms offer a wide range of products, ranging from ordinary groceries to essential medications. Furthermore, this platform provides the best way to order and obtain products without physically getting out of the house.
During the COVID-19 crisis, e-commerce was one of the fastest-growing businesses in Malaysia. E-commerce not only did a good job on its own but also pulled many other industries out of the ditch, including the product supply chain, delivery business and agriculture. As a result, Malaysia’s e-commerce business was able to satisfy consumers’ demands and assist manufacturers, farmers, and other sectors during this economic downturn.
3. Online Tutorial Services
Online tutorial services can generate considerable income even in the dry business season because of COVID-19. Social networking sites like Facebook and YouTube are the main outlets for online tutorial services. These services consider various professional and academic skills development courses for Malaysian and students from all over the world.
Interested users can enroll in these online courses via paid subscription packages. The benefit of this type of business is that it does not require financial stability, large resources, or big office space. Business owners only need to prepare camera equipment, materials or smartphones, suitable corner space, and good-quality headphones.
Nonetheless, teaching online does require professional expertise and solid academic knowledge. If the entrepreneurs can meet this condition, then they can easily set up this business.
4. Online Consultancy
The lockdown due to COVID-19 can lead to restrictions on social freedom, but no matter what situation Malaysia is in, the need for knowledge and expertise always seems to be valuable. In the consulting business, when all physical offices were closed due to Covid-19, entrepreneurs can still equip themselves properly to offer online consulting services for their valued clients.
Moreover, business-to-business or person-to-person consulting in a variety of professional fields has increased significantly during the lockdown, thanks to copious online platforms, such as Zoom and Skype.
5. Live Customer Support
This field includes customer support and online customer care. Whether it is health support or any other security inquiry that requires laws and compliance, online customer support agencies are in high demand during the pandemic.
Like many other countries, Malaysia also has a national online customer service and help desk that can handle COVID-19 and patients’ information and other people looking for various information. Many of these online support centers responsibly connect patients with medical staff and people with the services they need. Some providers also offer emergency social services and customers on-demand counseling.
Getting Help From A Professional Business Registration Malaysia Services
While these business opportunities can indeed be lucrative, setting up a legally compliant business in Malaysia can be daunting, especially for first-timers. A professional business registration Malaysia services help business owners to register a company in Malaysia without the hassle and ensure the newly-established business adhere to the current regulations.