If starting a new business in Qatar or Malaysia is on your list of things to kick start in 2022, you are in the right place. Let us see why these places provide umpteen opportunities to have a successful venture.
Entrepreneurship has been a lucrative career option for years. Mainly because you get the freedom to bring revolutionary changes. Another reason is you can either do it full-time or part-time as per your convenience. Irrespective of your degree you get the opportunity to execute your idea and start a business in 2022.
Is Qatar or Malaysia a good place to start a business in 2022?
Let us go through a few factors that you should go through before starting a business, and why Qatar or Malaysia is a good choice.
Location:
Location of setting up a business is the topmost factor to decide the success of the business in future. In the case of physical business, you must take all factors into count before deciding on the location. Malaysia as well as Qatar has well-established cities to help you decide on a perfect location for your business.
You must select a location that gives you scope to expand the business in future. Malaysia is located at the heart of south-east Asia, hence giving the flexibility to globally expand the business when the time comes. Qatar and Malaysia have excellent trade routes which empower the entire setup of the business.
Transport connection:
Do you want to offer your service or product within the city or within the country or globally? In any of the above cases, you must have an excellent transport connection. The importance of smooth transport increases even more if you are thinking to deal with perishable products such as food items.
Qatar as well as Malaysia has excellent roadways transport facilities. This enables dwellers to reach your location easily. If your business deals with delivering products or services traffic-free and smooth transportation are a must.
The transport facility in Malaysia and Qatar offers the linkage to the global supply chain. Road, rail and airways links connect the countries to different corners of Asia and beyond.
Market:
Another important factor to ensure a successful venture is accessibility to the market. Be it local market, national market or global market. Transport facilities ensure accessibility to the market.
Along with transport facilities, we must analyze the purchasing power of the market. Qatar, as well as Malaysia, are two of the richest country in the world. According to Global Finance, Qatar is in the fourth position. This ensures the local population has exemplary purchasing power.
A market-oriented business setup gets the opportunity to expand as well as grow in terms of profit. A good market means a regular crowd and good income potential of customers. However, the market factor may vary from business to business in the era of digitalization and delivery service.
Raw materials:
If you are setting up a business where you need raw materials to manufacture your product, then the location and availability of raw materials hold crucial importance in setting up a business. You need to ensure the manufacturing cost is cheap to keep consumer-friendly prices and still make a good profit.
Qatar and Malaysia are developed countries. Hence, both the countries are technology-wise well equipped. Most businesses today need strong machinery and technical support. Qatar and Malaysia are able to fulfil these requirements conveniently.
Policy and laws:
A business-friendly regulatory environment is a must to set up a business at any location. This is one of the reasons why Malaysia was ranked as the best country to do business in 2019.
The countries give you the freedom to explore different business opportunities. The law and order encourage entrepreneurship. You get the flexibility in terms of loans and connections.
The private sector is invigilated by Government bodies. The official papers are approved without much hassle in both countries. The regulatory bodies ensure, the interests of the public, as well as stakeholders, are protected. Here we can know the policy and laws to set up business in Qatar.
Infrastructure:
Good infrastructure helps the businessperson to select the place of their choice and convenience. Malaysia has excellent quality expressways. According to the nations encyclopedia “Malaysia network includes 580km of superior quality expressways, which connects Kuala Lampur with Singapore and with major seaports and other destinations.”
Good wireless connectivity is well spread across most parts of the country. If you are willing to set up a digital business, this gives you accessibility to reach more markets.
Great economy:
The economy is an important indication of the growth of the country. A commendable economy encourages commendable entrepreneurship. The global Finance says, “The current International Dollars 100,03 is of Qatar”
The countries have resilient economies. The statistics show promising economic growth in the upcoming years as well. A positive economy attracts investors and entrepreneurs to set up business in Malaysia and Qatar.
Business Environment:
What we mean by the business environment is the perception of local people, investors and youth towards business as well as the interest of the government towards business.
Malaysia has an excellent taxation policy. The government time to time gives incentives to entrepreneurs. In the initial stage of business, the risk is high and profit is less, usually. Hence, the support from the Government is a huge aid in growing the business.
This encourages business people to stay competitive in the market as well as pave the way to compete in the global market.
Workforce:
A young, well-educated and skilled workforce is an important pillar for growing any business. There is only so much you can contribute alone in the business. As soon as you set up a business, you require a workforce for different tasks. Malaysia and Qatar have an excellent skilful population. This gives you the opportunity to recruit the best minds who will ensure the growth of your business.
Wrapping up:
Qatar and Malaysia are lucrative and convenient locations to start a business in 2022. Here, we have discussed a number of reasons that will help you to take your decision. If you are yet confused, why not get in touch with Puvanesvarar consulting. The first consultation is free of cost.
