Malaysia Business Broadband Package|High Speed Broadband Services|Business Unifi Package

TM SME. BIZ, is a comprehensive Business Internert Services Provider that gives you voice, broadband and value added services at affordable rates making TM a one-stop solutions provider with a comprehensive range of tools to help your business grow. Our cost-saving packages are designed with your needs in mind; facilitating daily operations and maximising market reach through web presence. Our cost-saving packages have include the Business Broaband Package, High Speed Broadband Services, Business Unifi Package and other Business Solution.

SME  >  Biz Resources  >  Business Tips  >  Getting Started  

Getting Started  Writing a Strategic Plan  Funding and Incentives

Sourcing Loans Managing Finances Using Technology Efficiently

Managing Human Resources Marketing Communications Building a Brand

Managing Business Relations Expand Your Business

 
 Learn about the fundamentals of your proposed business:
What will your product be? Who will your customer be? What does the future hold for your business and your industry?

It is important to understand the category of SME under which you fall. Especially when it comes to pitching for funding. Different institutions, such as the SME Bank, have different financial and business consultation packages tailored to the individual requirements of each type of SME. Micro-enterprises are also now getting increased attention from the government, which has announced its commitment towards creating microcredit loans for micro enterprises. (Read more about this in Section 4.)

	Category	Micro Enterprise	Small Enterprise	Medium Enterprise
1.	Manufacturing, Manufacturing-Related Services and Agro-based industries	Sales turnover of less than RM250,000 OR full time employees less than 5	Sales turnover between RM250,000 and less than RM10 million OR full time employees between 5 and 50	Sales turnover between RM10 million and RM25 million OR full time employees between 51 and 150
2.	Services, Primary Agriculture and Information & Communication Technology (ICT)	Sales turnover of less than RM200,000 OR full time employees less than 5	Sales turnover between RM200,000 and less than RM1 million OR full time employees between 5 and 19	Sales turnover between RM1 million and RM5 million OR full time employees between 20 and 50

Maybe you are a little hazy over how company law works. Or, maybe you just want to make sure that you have it all covered, legislation-wise, when it comes to necessary paperwork for the running of your business operation.

For a well-organised and information-wealthy portal, with all the information you need to know about doing business in Malaysia, we suggest you visit http://www.mida.gov.my/en_v2/index.php?page=tags

Bookmark it on your web browser. You never know when you may need to research an obscure detail about statutory requirements or accounting practices.

Everything you need to know about incorporating your company in Malaysia can be found on this friendly and comprehensive site www.helplinelaw.com/law/malaysia. If you are not prepared to do the required paperwork yourself, hire a well-recommended corporate lawyer.

(Note: if you are registering your company for MSC-incubator status, be sure your company is properly registered with the commission within a month of having registered with the incubator: http://www.ssm.com.my)

The Ninth Malaysian Plan includes a strategy to help increase the survival rate of innovation-driven start-ups, which are basically start-ups with a technology bent. This strategy comes in the form of an "incubator" privilege.

While non-technology centred SMEs do not qualify for MSC or incubator privileges, there are other government benefits available. These include:

• Training programmes to help SMEs improve resource planning, management capabilities, financial management, human resource development, marketing and technical skills.
• Increased attention to the provision of infrastructure and amenities, such as industrial parks with factory units, to facilitate the expansion of SME activities
• Expanding funds, covering both soft loans and grants, to help establish new businesses and upgrade existing businesses. (There are more details in sections 3 and 4.)

One of the benefits of companies with MSC status is that startups can apply for incubator status. Incubators are organizations that provide companies with special support to help increase the survival rates of these innovative start-up companies. The aim is to nurture new firms and entrepreneurs, as well as expand the capacity for innovations and related services. Your company is eligible for incubator status if:

• It has a technological focus. The Incubator must house tenants that are involved in ICT/Multimedia (e.g software, e-commerce, telecoms), biotechnology and/or bio-informatics.
• It is one of the early growth stage companies involved in the above defined technology focus areas.

Early stage growth companies are defined as:

• Seed level companies or entities that have been incorporated within the past two years, and have ideas or concepts that require funds for proof of concept.
• Start-up companies and entities that may be in the process of setting up or have been in business for a short time and require capital for the commercialization of their products / solutions. These companies may not be generating profits yet.

Your company is not considered to be in an early growth stage if:

• It is in the expansion stage, and has successfully commercialized products, but may or may not be generating profits.
• It is preparing for a corporate exercise or Initial Public Offer within one or two years.
  Utilities including water and electricity
  Internet access at minimum bandwidth of 128kbps
  Share facilities (eg meeting rooms, reception, audio-visual systems)
  Business advisory support (in-house or outsourced)
  Minimum 2,000 sq ft floor space
  
• Your company must have a dedicated management team to provide business support services in order to nurture the business, besides managing the physical infrastructure.
• Useful Links to visit for more information:
  www.msc.com.my/cs/incubator
  www.technopreneurdevelopment.net.my
  www.smecorp.gov.my
  

 

Malaysia Business Broadband Package|High Speed Broadband Services|Business Unifi Packages