ENTREPRENEURSHIP
Business registration is the first step towards starting a business. It helps establish a legally recognised business identity. Having a legally registered business enables entrepreneurs to obtain licences, permits, and access business facilities such as business loans, grants, incentives, subsidies, and other relevant business support. Choosing the appropriate business entity depends on several factors, including the number of owners, business scale, capital requirements, owners' liabilities, and future business expansion plans. Types of Business Entities Sole Proprietorship A business wholly owned by a single individual under the Registration of Businesses Act 1956. Suitable for entrepreneurs starting a small-scale business or managing a business independently. General Requirements: Malaysian citizen or permanent resident At least 18 years old A business can be registered using: Personal Name: The name as stated on the owner's identity card; or Trade Name: A chosen business name that requires approval from the Companies Commission of Malaysia (SSM) Partnership A business owned by at least two individuals, with a maximum of 20 partners. Limited Liability Partnership (LLP) Combines the characteristics of a conventional partnership with certain features of a company. An LLP is registered under the Limited Liability Partnerships Act 2012 (Act 743) and may be considered by entrepreneurs who require a more formal partnership structure. Private Limited Company (Sdn. Bhd.) Incorporated under the Companies Act 2016 (Act 777). Suitable for businesses with larger operational and growth plans or those requiring a more formal ownership and management structure. Ready to register the right business entity for you? Business Registration in Sabah and Sarawak (Sole Proprietorship) Entrepreneurs who wish to register a sole proprietorship in Sabah and Sarawak must complete their registration through the respective Local Authorities (PBT) in their areas. Free Business Registration Scheme (SPPP) Initiative The Companies Commission of Malaysia (SSM) also offers the Free Business Registration Scheme (SPPP) initiative to entrepreneurs from selected categories, including: Full-time Higher Education Institution Students B40 Income Group Entrepreneurs Senior Citizens
Why Is MSME Status Important? MSME status enables the government and relevant agencies to identify the size and needs of an enterprise more accurately. It is also used in the implementation of MSME development programmes. MSME entrepreneurs can access various forms of support from government ministries and agencies, including: Financing and financial facilities Entrepreneurship training and development Business advisory and mentoring services Product and technology development Digitalisation and automation Certification and productivity improvement Branding and marketing MSME status verification enables entrepreneurs to apply for specific programmes, assistance, or incentives offered by government agencies. The MSME Status Certificate must be renewed every two years.
Looking for an affordable business space to get started? Exclusively for Bumiputera entrepreneurs, Majlis Amanah Rakyat (MARA) offers flexible business premises and facility rental options to help turn your business aspirations into reality. MARA's business premises are specifically designed to accommodate various business sizes and sectors, including: MARA Arcade Business premises comprising small retail shops, typically equipped with basic facilities such as parking spaces, prayer rooms, and dining areas. MARA Bazaar Business lots located within a row of commercial units. Commercial Lots MARA business premises located within commercial complexes or developments. MARA Industrial Complex (KIM) and MARA Halal Industry (MHI) Park Industrial lots for manufacturing, service, and enterprise activities. MARA also provides the MyPremis platform to help entrepreneurs check the latest premises availability and submit their applications entirely online.
Are you an entrepreneur looking for business premises to rent? Some of the agencies offering business premises rental assistance include: SME Bank SME Bank provides Entrepreneur Premises Complexes (EPC) in the form of affordable factory lots for Bumiputera Micro, Small and Medium Enterprises (MSMEs). Perbadanan Usahawan Nasional Berhad (PUNB) PUNB offers rental spaces at competitive rates to entrepreneurs in several strategic locations nationwide. UDA Holdings Berhad Provides business spaces at affordable rental rates for entrepreneurs. PKNS BizPoint Dedicated spaces provided for the implementation of entrepreneurship programmes by the Bumiputera Commercial and Industrial Community (MPPB). PERNAS Offers commercial properties in strategic locations nationwide at competitive rental rates.
As an entrepreneur, obtaining licences and permits from Local Authorities (PBT) is essential to ensure that your business premises and activities operate legally, safely, and in compliance with local by-laws. The types of licences or permits required depend on the nature of the business, premises location, business activities, use of space, and the specific requirements of the respective Local Authorities. Therefore, licensing requirements may vary from one local authority to another. Check the list of Local Authorities in your area to register for the necessary licences and permits. To help entrepreneurs identify the relevant registration and licensing requirements based on their business activities and locations, you can check the necessary licences and permits through the MalaysiaBiz portal. BLESS Next Gen System For entrepreneurs who require specific licences and permits, the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) also provides an online licence application facility through the Business Licensing Electronic Support System (BLESS Next Gen).