It is possible to operate a business without a company, address and/or venue, such as a home-operated business. But having a company to put it all under makes accounts and cashflow much easier to manage as it isn’t mixed up under your personal savings account. To do this you need to pay a visit to the Malaysian Registrar of Companies (Suruhanjaya Syarikat Malaysia) to pick a name and legally register it.
Yes, it’s just a name, that’s true but there are certain words that cannot be used as a company name unless under specific orders from a government body supporting it. For example, the word “King” is disallowed as it is associated with royalty – a good example is why the parent company of Sushi King in Malaysia is called “Sushi Kin Sdn Bhd”, intentionally missing the letter “g” at the end. Any name associated with a political party is also disallowed – which means “UMNO Photo Printing” and “Nasi Kandar Pakatan Rakyat “ are out of the picture. Anything to do with the corporate definition of securities (“Securities Trading”, “Stock Market”, “Bursa Saham”) are also unusable so check with the Registrar before you go about designing that logo and font that took weeks to perfect only to find out that the name cannot be used.
Hundreds upon thousands of books and articles have been written with regards to running a business, and like this article, there are hundreds of thousands more to come. While the basics of running a business remain (i.e. proper balancing of cashflow, profit vs loss, stock checking, etc) each business is unique; methods that may work for others might not work for you and vice versa. It’s all about experimenting and taking a risk – but above all, the one word that should always be in the mind of a businessman is consistency. Consistent opening hours, consistent stocks and products, consistent salesmen and consistent operating hours will result in consistent cashflow and income. Consistent headaches as well, mind you but it’s all part and parcel of the game.