• Skip to main content
  • Skip to primary sidebar
  • Home
  • Compare Car Insurance Online!
    • Comprehensive Car Insurance
    • Mileage Based Car Insurance
    • Third Party Car Insurance
    • Third Party, Fire & Theft Insurance
  • Insurance
    • Insurans Kereta Online
    • 马来西亚车险
    • Motor Insurance
    • Motorcycle Insurance
    • Medical Card

The Challenges a Malaysian Startup Face – Part 1

Munirah Bahri / 23/11/2018

Everyone wants to start their own business, it is a dream for many people out there, perhaps a dream for everyone out there. But as all things start, it will start small and owning a Malaysian startup will bring a whole lot of challenges to you and you need to be aware of those challenges so that you can be prepared for it when it comes, because many people think about the benefits and not the challenges.

Malaysian Startup

Just like starting anything new, we need to be aware of all the risk and challenges that comes with our new ventures so that we can be prepared so this is what this article is here for, to allow everyone out there to be aware of the challenges Malaysian startup owners face so that when it strikes us, we don’t get hit by it with a full force and let it tear our lives down, so without any further delay, here is the challenges Malaysian startup owners face – Part 1.

Health Care

Malaysian Startup - Health Care

The first thing that everyone needs to be aware of is health care, and it is of course on the top of the challenges Malaysian startup owners face list. We need to work a whole lot when we are our own boss to ensure that our company’s successful and consistent growth. When we work that much, we tend to forget about our own health, and we must not ever make that mistake, we must always make time for our health because it is incredibly important.

Government Regulations

Malaysian Startup - Governement Regulations

The second thing on the list of the challenges Malaysian startup owners face is government regulations. The government likes to have control over everything and each year it really seems like the government’s control over owner’s have become more potent. So business owners really need to be aware of the rules the government implements on them so that they are able to run their business without any problems.

Federal Income Taxes

Malaysian Startup - Federal Income Taxes

Let us not forget about the federal income tax, as you start making more money, your tax will increase more and more and then you will really feel that your hard worked money is not coming to you in the right amount as it should be. But there is really nothing you can do about it, unless you want to break the law and that will land you in prison and then all your hard work you have put into your business will have been for nothing.

The Economy

Malaysian Startup - The Economy

Now we need to consider the economy, it will be one of the other challenges Malaysian startup owners face. The economy cannot be predicted by anyone and because of this, it is difficult for you to do any massive purchasing but there are certain loans that protects you against the economy’s rising rates, since the loans will keep down your overall finance costs so you will be able to get most from tax rates.

Tax Compliance

Malaysian Startup - Tax Compliance

Lastly on this list of challenges Malaysian startup owners face is tax compliance, when your Malaysian startup is home-based, home office deductions are a vital thing for keeping profits high. However, regulations concerning record keeping are time-costly and if you don’t have a penchant for bookkeeping, frustrating. So this is something you need to look into to allow you to deduce the cost for investments.

Conclusion

Malaysian Startup - PolicyStreet

In conclusion, owning a business can be a great thing but it will also bring a whole new level of challenges for you to face as a business owner, and with the amount of challenges you will face, getting business insurance can help you manage your business easier and protect you, your employees and your business if anything were to happen. Visit PolicyStreet.com to enquire about our impeccable services in looking and tailoring the right insurance for you and for your business.

Primary Sidebar

Search Topic Here

Car Insurance

5 Reasons Not To Drive Without Car Insurance

E-hailing Insurance Add-on: What you need to know

Guide: What To Do If You Hit An Animal While Driving

PrOmilej: The Car Insurance For MCO?

Windscreen Insurance (2021): All You Need to Know!

Bahasa Malaysia

Vitamin Untuk Kucing Kekal Sihat dan Cantik!

11 Makanan Kucing Terbaik Untuk Bulu Kucing Anda

Makanan Kucing Terbaik Untuk Bulu, Gemuk Dan Anak Kucing Anda!

Antara Doktor Pakar Sakit Puan

Pakar Sakit Puan (2021): 20 Senarai Doktor di Malaysia

Antara Doktor Pakar Sakit Tuan

20 Senarai Doktor Pakar Sakit Tuan di Malaysia (2021)

Apa itu NCD? Panduan untuk Diskaun Tanpa Tuntutan (2021)

Car Insurance Malaysia

Insurans kereta Online

汽车保险

Motorcycle Insurance

+601 11-684 2590

Get in Touch

Unit D-18-3A, Menara Suezcap 1
KL Gateway, No. 2 Jalan Kerinchi,
Gerbang Kerinchi Lestari, 59200,
Kuala Lumpur, Malaysia

 Call: +60 3-3310 0063

 WhatsApp: +601 11-684 2590

 Email: admin@policystreet.com

Our Company

About Us
News & Blog
Careers
Customer Support
Contact

Products

Life Insurance
Medical Insurance
Car Insurance
Motorcycle Insurance
Medical Malpractice Insurance
Home and Property Insurance
Disability Insurance
Diabetes Insurance
Cyber Insurance
Cancer Insurance
Business and Commercial Insurance

Newsletter

Receive resources & tools that can help you prepare for the future. You can cancel anytime.

Subscribe

PolicyStreet is a Financial Adviser approved by Bank Negara Malaysia Copyright © 2020 Polisea Sdn. Bhd.
Registration No: 201601041144 (1212085-T) All Rights Reserved

Insurans Kereta Online