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An Easy Guide To Small Business Loans In Malaysia
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More and more Malaysians are starting their own businesses every year.
In fact, 98.5% of businesses in Malaysia as of 2016 comprised of MSMEs (micro, small, and medium enterprises).
One obstacle that most of these business owners face is the lack of financing. Everyone needs capital to start or run a business. If you already have personal funds to use, that's great. But most entrepreneurs usually need a personal loan, micro loan, or small business loan to help them with cashflow, expansion, or even new ventures.
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Are loans the only options for my small business?
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Not necessarily.
There are many ways you can get funding. You just need to sit down and decide which options or mix of options work best for you and your business.
The goal here is to not end up wasting money or giving up too much ownership over your business to external investors.
Internal
Sole proprietorship - your own money
Partnership - partner's money
Company - shareholders' money
External
Bank
Government
Family and friends
Angel investors
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How do small business loans work in Malaysia?
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Some considerations include:
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3. Easily manage supplier, customer, and employee relationships
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Any good cloud-based POS system stores all your data in one central place, so you can easily manage all the following:
supplier management
customer relationship management (CRM)
employee management
A cloud-based POS system will allow you to easily fulfil customers’ orders, place orders with your suppliers, and manage your staffs’ working hours.
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4. Inventory management is faster and smarter
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Managing inventory can be hard if you don’t have a proper POS system.
But having a cloud-based POS system that automatically notices when you’re low on stock or pinpoints items that are underperforming?
Now that will give you a sense of ease and control.
With all that being said, using a cloud-based POS system will help your business:
maximise productivity and sales
improve customer support
and reduce dead stock.
One such cloud-based POS system is StoreHub.
StoreHub gives you real-time updates on inventory, sales reports, staff management, and more.
It also gives you a variety of customisable features such as promotion settings, supplier management, and so on.
A great new feature that was launched recently is its StoreHub Ecommerce feature, which allows you to set up your online store in a matter of minutes. The best part - you can sync the inventory of your physical and online store.
It's definitely worth a try!
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Power Your Business With StoreHub!
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Click here to learn how StoreHub can help you manage and grow your business.
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