What is the First Step to Starting a Business? 创业的第一步到底是什么
What is the First Step to Starting a Business? 创业的第一步到底是什么
What is the First Step to Starting a Business?
"Why do you want to start a business?"
This is the most fundamental question. Once you have a clear reason for starting your business, your entrepreneurial journey has just begun.
Step 1: Understand Yourself Before starting a business, you must have a deep understanding of yourself. Ask yourself the following questions:
What are your strengths, and what are your weaknesses?
How much capital do you need for your business, and how much do you have available?
What industry are you entering, and how much potential does your business have?
Clarifying these essential questions will help you go further in your journey.
Step 2: Create a Business Plan
Once you are clear about your entrepreneurial direction, you need to develop a solid plan. A well-structured business plan will make your journey smoother. A complete business plan should include:
Having a clear plan will help you stay stable when facing challenges.
Step 3: Take Action Once you have a business plan, it’s time to put it into action. Here are the key steps:
a. Choose Your Business Structure The type of company you register will affect how you operate and the tax regulations you need to comply with.
📌Example: ✅ A sole proprietorship submits Form B for tax reporting, while a private limited company (Sdn Bhd) submits Form C. ✅ The maximum tax rate for a sole proprietorship is 30%, whereas for a private limited company (Sdn Bhd), it is only 24%.
b. Choose a Unique Business Name A distinctive company name is crucial. If your name is too generic or similar to others, your brand may get lost in the competition.
c. Prepare the Necessary Documents The essential documents include: ✔Company Constitution ✔Directors' statutory appointment documents ✔Company name approval document from SSM ✔Identification documents of directors and company secretary
d. Appoint a Company Secretary (For Sdn Bhd Only) You must appoint a licensed company secretary within 30 days of company incorporation. If you have already engaged a corporate secretarial firm, they will handle all the paperwork for you.
e. Secure a Business Premise & Obtain a Business License 🚨Important: Registering a company does not mean you can operate legally! If you have a physical store, you must apply for a business license before starting operations.
f. Open a Business Bank Account & Employer Accounts Once your company is registered, you need to open a business bank account and register for employer accounts (for hiring employees and making statutory contributions).
💡Starting a business is a journey. When you take the first step wisely, your road to success will be much smoother!🚀
Malaysia
