Subscribe to our new Telegram channel for the latest updates on stories and other issues.
During the MCO, many people lost their jobs. Even more reported a loss in income, particularly women. In an effort to make ends meet, ever entrepreneurial Malaysians are turning to the internet to earn some money, namely through small online businesses.
You may know of some people who have started to sell things online, such as baked goods or handcrafted items. While such resourceful thinking helped many pull through the MCO, some have found such joy in their business that they are sticking with it long-term.
After all, it seems pretty easy, right? Have a product, take nice photos, and upload it to Instagram. No paperwork involved.
However, microbusinesses on social media platforms are still considered a business as it involves monetary transactions and profit, and every such business must have a business registration to be legal.
This means that all budding entreprenuers must sign up and register their business with Companies Commission of Malaysia (SSM) to conduct legal business online or offline.
The good news is that registration is super easy and inexpensive!
To register a new business will only cost you RM60 and a quick trip to the nearest SSM office. After you register your business, you can rest assured and focus on growing your business!
Those operating a business without a valid registration are doing so illegally and can face a fine not exceeding RM50,000 or imprisonment of up to two years or both!
So why risk jail time and the fine? Just head over to the SSM website for more information on registering your business and being one step closer to a fully-fledged entrepreneur.
Anne is an advocate of sustainable living and the circular economy, and has managed to mum-nag the team into using reusable containers to tapau food. She is also a proud parent of 4 cats and 1 rabbit.