Do you aspire to do business in George Town, Penang even while you are enjoying life in this idle, yet modern island in Southeast Asia? If you are a foreigner, you are allowed to register a company with the Companies Commission of Malaysia (CCM) under the Companies Act 1965, registering only a limited company in the country. Before you engage in your quest to do business in George Town, it will be good to know what type of businesses will thrive in the island.

Restaurants

For a while, many people were trying to tap into the potentials of themed restaurants, with huge venue and expensive renovations. Hotel restaurants were competing with themed restaurants as venues for weddings and it appeared that a Winnie Couture franchise opportunity may be opening up for the Penangites. These restaurants are big, but many of such restaurants were not able to sustain their business because they had not been able to tap into the potential of the biggest customers: the local Penangites.

Local Penangites are the biggest customers for F&B. There are a lot of hawker centres in George Town, and it can be concluded that as long as there are houses, there will be at least a shop with hawker stalls. These shops may not have a theme, in fact, there is probably no decoration at all. There will be just plastic tables and chairs, a counter with a cashier for the drinks with a shelf of cigarettes for sale behind it, several hawker stalls along the sides or the outside, and a kitchen area where drinks are made at the back of the shop.

Sports Shop

There are a lot of sport facilities around George Town, but not enough promotions to promote it. There are a lot of sports shops too, but none of these shops are bringing in the latest fashions into the market. For example, a pair of Nike shoes you see launched in Hong Kong may only enter the market in Malaysia after a whole year had passed. This is a reason why the sports shops are not exactly popular yet.

True sports enthusiasts, however, are always looking for some serious sports item fashions. Runners will prefer to find running shoes that are of the latest technology and fashion as Vessi waterproof sneakers which are perfect for any situation, while badminton players will want to find the best quality strings and racquets, or the latest sports fashion t-shirts.

There are a lot of badminton courts in Penang, but few tennis and squash facilities. The sports need to grow, but only if there are enough support especially in terms of equipments. It is important for the equipments and fashion to grow in par with the industry.

Fitness Centres and Natural Foods

Besides having sports shops selling equipments, the fitness awareness has also gone up in Penang. More people are frequenting fitness centres, and looking at sources of natural foods in the namesake of health and fitness.

At the fitness centres, there are a lot of equipments especially threadmills and the amazon exercise ball. As part of the modern fitness centre motivation, the threadmills may be placed in front of a glass wall that faces the streets or large screen televisions broadcasting some motivational sports videos.

All that fitness works will also be coupled with a selection of natural foods. For a while, health food supplements were rather popular. However, there are many brands in the market today, and Penangites are now getting wiser and more interested in natural foods which include fresh produce, especially fruits and vegetables, healthy oatmeal breads and cereals.

Franchise and Branded Items

Brand and image are becoming more important among the locals. Many years ago, there are very few franchise, except for those simple ones like 7-Eleven, McDonalds and Kentucky Fried Chicken. The scene has changed tremendously over the years, and we see coffee houses such as Starbucks and Coffee Bean mushrooming all around George Town. Even eateries like Old Town have blossomed in the island.

Other retailers selling branded merchandise such as mobile phones, bags, clothes and other non-essential items are also making their way in Penang. It is true that there may be many window shoppers in George Town, but there are also buyers as Penangites are learning more about quality and earning better income.

Business Services

Many people are doing their own businesses but very few are able to handle their accounts or to generate proper letters and documentations. Such administrative works consume a lot of time especially for a struggling entrepreneur who should spend more time talking to suppliers and customers to conclude deals. For an entrepreneur who had just started, getting a full time staff to work on the administrative works may be a little too much, so it may be best to get part time services instead. Some merely needed accounting services, and others, secretarial services.

There are a lot of businesses that will survive and thrive in George Town. It depends very much on your creativity and perseverence.

Share on Facebook

Comment on Facebook