Malaysia is the self-titled ‘startup’ capital of Southeast Asia. It has one of the highest literacy rates on the continent, so there are plenty of amazing recruits. It is also home to quite a young population, with 70% of the workforce now under forty years of age. While it may sound like a superficial detail, it’s this youth and vitality that is driving innovation.
One of the most challenging parts of doing business in Malaysia is the sheer diversity of its culture. There are multiple languages and religions here. However, even this can be a major opportunity for a savvy investor. Finally, the capital Kuala Lumpur is forward thinking and keen to embrace new ideas. Virtual offices, for example, are growing in popularity.
This guide to virtual offices and their key features offers advice on using them for growth and expansion. Visit www.servcorp.com/my/en/virtual-offices/ to learn more.
Reduced Risk, Bigger Opportunities
Virtual office solutions are well suited to both smaller businesses and those with plans to expand. This is because they carry very few restrictions and limitations. Without the tie to a single location, you can run your company in any way you choose, from any location.
It also means there are no costly overheads. Operating out of a ‘pay as you go’ workspace is a simple and easy way to save money. This can be reinvested in your expansion plans, whether that means hosting potential sponsors or setting up deals with new suppliers.
During those first few months and years, the last thing you want is to bury your free capital in logistical expenses and sky-high rental rates. Therefore, instead of committing a full-time office, stay mobile and work from home, with the virtual suite as a support system.
A Fully Flexible Operation
When you’re a young business with narrow profit margins, flexibility is key to infiltrating new markets. The truth is you can do as much planning as you like – and it is, of course, a great idea – but there will always be unexpected surprises. You can’t plan for every eventuality.
What you can do is stay agile enough to adapt quickly. Virtual offices help with this by, for one thing, allowing you to streamline expenses. They also offer very flexible contracts with open-ended terms. Virtual vendors rarely charge tenants for terminating early, if ever.
Furthermore, if you choose a provider with a large international network, expanding overseas is as easy as dropping into a local facility. Once again, with no private, physical space to maintain, your brand is free to move around as it likes.
Building Up a Market Presence
Traditionally, one of the biggest challenges for expanding businesses is establishing credibility in new markets. When you’re an unfamiliar face, it can be tough to attract interest from investors and local suppliers. The goal is to convince them that you really are the next big thing.
Often, the problem is a lack of status as this is something that comes with money. For very small businesses, it is a dilemma. Though, virtual offices provide a solution by giving tenants the formal, professional address and official face without demanding high costs.
These super flexible, highly affordable workspaces tend to be located in very impressive spots. However, as they do not include physical, private space, the rates are always low. Plus, with that open-ended contract, it’s up to you how long you stay before you upgrade.
How to Find a Superb Virtual Office in Malaysia
The capital of Malaysia, Kuala Lumpur, is home to several prestigious facilities. These virtual offices are run by respected vendors and guarantee the finest resources around. They provide everything a home or mobile business needs to become a big success.