Like every other Blogger or Digital Marketer in Malaysia, I too want to shout out that it is high time that all business owners scale up and embrace the digital platform. If you are a budding entrepreneur you need to act FAST to take advantage of Malaysia’s rapidly growing E-Commerce Market.
There are really game changing opportunities for early adopters and for those who are willing to take the lead in the digital world. E-Commerce has essentially become a basic requirement for any business.
Digital Free Trade Zone for E-Commerce
Heard about Malaysia’s DFTZ – the first of its kind in the world – launched in late March, 2017? Our Malaysian Government launched its DFTZ to facilitate cross-border trade and to enable local businesses to export their goods by capitalizing on the benefits of E-Commerce. It will digitally connect users with government and business services to support global trade.
Through DFTZ Malaysia will see a reshaping of local small and medium businesses which will help carve a position for Malaysia in the digital economy.
Alibaba Group in Malaysia
China’s E-Commerce giant Alibaba Group Holding Limited, signed MoU with MDEC (Malaysia Digital Economy Corporation) and Hangzhou’s Municipal Government to Facilitate Global Trade for SMEs under eWTP (Electronic World Trade Platform)
The Group’s B2C division is committed to helping manufacturers and merchants in Malaysia sell their products on the global scale.
MaGIC for E-Commerce
MaGIC – Malaysian Global Innovation & Creativity Center is a government body that bluntly states that its mission is ‘To catalyze creativity & innovation for long term nation impact’. It does an excellent job at this through dynamic development programs and capacity-building initiatives.
It is based in Cyberjaya as the city is becoming the preferred location for the technology-driven and start-up friendly community.
Among many other activities and programs, a session with major industry leaders was organized by MaGIC for business owners to learn from.
Event: E-Commerce Learning Session with Industry Players
Event Date: Aug 30, 2017
Event Time: 9 am to 5 pm
Event Venue: MaGIC Auditorium
When I came to know about this event, I was thrilled to notice that the Speakers were all prominent figures, who have built extremely successful businesses utilizing the E-Commerce platform.
Topic: E-Commerce Trends & Disruptions- an Enabler or Disabler?
Speaker: Chan Kok Long, Co-Founder and Executive Director, iPay88
Key Takeaway from his speech:
- The company iPay88 is ready to discuss ideas with you even if you don’t have a full fledged business plan.
- Act fast or your market share will be taken away.
Topic: Future Trends of the E-Commerce Industry
Speaker: Carol Fung, Head of Seller Adoption (E-Commerce & DTFZ Division), MDEC
- Go E-Commerce is an online platform that both MDEC and SME Corp developed together. It is an active learning platform and hub for all SME owners who are keen to explore and build their businesses via E-Commerce.
- Find the stories behind companies like Kismet Decals and learn how they can be applied in your Industry.
- Join E-Commerce WhatsApp groups to be updated about current programs and reach out to one another in the digital field.
Topic: Challenges Faced by the E-Commerce Industry
Speaker: Yeoh Chen Chow, Co-Founder of FAVE (Groupon)
- How Groupon raised to play the leading role not only in Malaysia but in the Southeast Asia region
- The inner struggles Groupon went through to become FAVE
Challenges Faced by Startups and Strategies Used to Overcome Problems
- Fadzarudin Anuar, Founder and Managing Director of Fashion Valet
- Ian Ho, Regional Managing Director of Shopee
Host: Rizal Zainuddin, MaGIC
- Be clear about your Business Objective
- Have not only short term 1- year or 3-year business plan but also 10-year business plan
Finally, I would like to stress that we are on the verge of a new business environment. Our consumer behavior and demands are changing. Going E-Commerce is no longer a luxury, but a necessity to survive in the new digital era.
What else could Malaysian entrepreneurs do to enlarge their market? What other ideas/thoughts do you have for businesses which have yet to go online? Please do share with our readers in the comments section below.