For years, Kuala Lumpur has managed to position itself as a global and progressive city, with the increasing popularity of several sites including the Putrajaya and Cyberjaya. The city continues to establish itself as one of the most preferred corporate locations by large corporations that aim to obtain a remarkable presence in Asia. With impressive landmarks such as the KL Towers and Petronas Twin Towers, KL is becoming famous throughout the world. In fact, many companies consider this city as a strategic corporate location in South East Asia. Furthermore, Kuala Lumpur has equipped itself with innovative infrastructure including modern transportation and telecommunications services.

Why Choose a Service Office in KL

Whether you plan to start your own firm, or you need a place to set up your company branch in Malaysia, you may want to consider the benefits of a service office in KL. For instance, the best way to create an excellent first impression to your clients is by establishing an office in a service office situated in a Grade A building in the city. Choose a location for your office that is surrounded by commercial buildings that will give your business a professional and reputable image. Popular options include properties situated at Jalan Stesen Sentral, Lingkaran Syed Putra, or Jalan Sultan Ismail.

A service office in KL, though, offers more than just a notable address for your company. You can also save on headcount since there is no need to hire a receptionist to answer phone calls, as well as other people that may only add up to your expenses. In a service office, you can have the assurance that there is always someone who will assist you with your numerous business concerns.

Cheap Cost of Service Offices in KL

The cost of establishing a company and doing business in KL is relatively low, as compared to other Southeast Asian locations such as Hong Kong and Singapore. A moderately-equipped and semi-furnished service office, for instance, is a great option for startups and small companies. The rental fee for a unit that measures 150 sq ft. is less than RM 2,000 per month. On the other hand, a service office with a similar size yet luxuriously equipped and furnished costs about RM 3,500 monthly. The cost still depends on the location of the building, since properties that are situated near the International Airport and monorail network are more expensive than offices found in areas farther from public transport.

Bottom Line

Service offices in Kuala Lumpur are the finest solution for any type of business or size of company because these commercial spaces are furnished and available for immediate occupation. Operators take full responsibility for the services provided to tenants, so this helps businesses save on overhead costs and other expenses. Although the rental fee may seem initially high, the total amount you pay covers all the expenses that you would normally pay aside from the monthly rental of a traditional office. In addition, there are no extra costs for security, maintenance, electricity, insurance, and other concerns. Hence, you can cut down your expenses while managing your business operations in a professional and exclusive commercial space in Kuala Lumpur.

Banks are not currently and probably will not be lending to small, growing businesses anytime soon. They view these small firms as too risky and banks are just not taking on any risk (any risk at all).

But, that does not mean that your business cannot get the money its needs to start or grow. You just might have to go about it in a different manner which, in the long-run, may be a benefit to you and your business.

For most small business, banks are not lending as they don’t want any loans with any risk on their books. While they do want your deposits and other account business, they are just unwilling to let money walk out the door.

They blame these small businesses for items like poor credit, inadequate cash flow or undervalued collateral but in truth, many of these banks are just not in a position to lend to what is deemed risky businesses. And, if your business does not really need a loan, then it is deemed risky.

What Can Your Small Business Do?

For established small businesses, if your banker is refusing to take your call (and most are) then you should be looking at some of the alternatives methods of financing that have been around for decades or that have recently cropped up to fill the lending gaps left behind by the banks.

Know that banks are not nor have always been the only and best options for small businesses. Banks tend to look at your overall business’s profits before making a business loan decision. Alternative financing options tend to look more at the need of the business and its ability to covert financial assets to cash.

1) Look to factoring. If you have customers in the wings but lack the working capital to get these jobs started, factor those job orders for 100% of the cash you need to complete those jobs. Or, if you are sitting on a bunch of unpaid invoices, look to use them to get the working capital your business needs to meet immediate expenses or start that next order.

2) Look to SBA loans. While these types of government guaranteed loans still have to go through banks – the SBA’s 504 program is leading the way in helping many local small businesses acquire and finance property and equipment. With the SBA’s 504 program, your local community development corporation will work with the SBA and your bank to finance hard assets. As they all spread and share the risk, your chances of getting funded increase dramatically.

3) Let your business finance its own growing needs. There are a lot of growing businesses that tend to have a lot of sales but are still losing money (more cash out then in). This is not a reflection of the economy or any market but that of how the business is managed.

Look for ways to reduce costs while maintaining your current level of sales or if that is not possible then look for ways to increase prices. You should always be looking for ways to reduce costs – even if your business is highly profitable.

Keep shopping around for lower cost suppliers and vendors. Look to technology to improve processes or for ways to reduce staff expenses. And, constantly review your service providers – no sense in over paying for services like phone, internet, etc. If you can get your costs down and bring your profits up, you might not need outside financing at all. The best business loan is not having to get one in the first place.

Business is not easy and is getting harder the longer our economy remains stagnate. However, people and businesses still need products and services to get through their days. They look for products that either make their life easier or save them time and money. And, while many are being more selective in what they spend their money on, they are still spending – good news for your business.

Getting and keeping customers (letting them know who you are and what your business offers as well as keeping your business on the top of their minds) is always a challenge. But, successful businesses get out there and find creative ways to meet and overcome those challenges. The same is true in financing your small business.

If you need capital to either get your business off the ground or to finance your current growth, you might as well just forget about the banks and get creative. Banks are just not ready to take chances.

If you can’t demonstrate (sell) your business’s potential to the many different financing options out there (some that really want to work with your business) then you might start thinking about another career.

Finding new ways to capitalize your business is just one of the many challenges that all businesses face in their development. But, the good news is that it is not the most daunting challenge you will face. If you need a business loan to start or grow your company, then get out there and get one!

Entrepreneurs know that it is the small business that fuels the economy, which is why new business grants are made available to help individuals finance their start up costs. As much as $50,000 in free money that never has to be paid back can be obtained to assist with getting your small business off the ground and profitable.

Who is Eligible to Receive New Business Grants?

Small business grant programs are offered by a variety of government agencies, non-profit organizations and other private foundations. Because each grant has their own set of rules, it is difficult to identify exactly who qualifies to receive this money. You’ll want to review the terms of the particular grant you would like to apply for to see if you qualify to receive these funds.

In general, you must be at least 18 years old and an American citizen. Generally the organization providing the grant will want to see a clear business plan, details on how you plan to generate a profit, and your growth expectations. What you typically not have to worry about is a background check, having good credit or any kind of collateral. Because this is money that never has to be repaid, the grant program is more interested in how you will spend the money.

Once you search the grant database, you’ll find a number of new business grants that you feel you qualify to receive. There is no limit on the number of cash grants you can receive for your small business, so feel free to apply for as many as you see fit.