Self Employed In Malaysia
Many self employed malaysians look for work from other malaysians.
Self employed in malaysia. You have to register under the companies commission of malaysia even if you re running a sole operation. Seeis is a governmental initiative to ensure that self employed drivers can also be protected under social security like every other worker in malaysia however the success will depend on the acceptance of the drivers socso deputy chief of operations john r. The government website gives information on your tax status and registering as a self employed person.
Several initiatives are being carried out including to strengthen and enforce the self employment social security scheme and the employment injury scheme for taxi drivers or self employed workers including those providing e hailing services under the self employment social security act said the prime minister in his address on labour day at putrajaya international convention centre. While you may be living the dream as a self employed person be it as a freelancer consultant or artist giving up a steady salary puts you in a challenging position when asking for bank loans. But depending on the industry this can be pretty limiting.
Data from the world bank states that 25 26 of the malaysian workforce is self employed and that number is growing. If you re a citizen on a mykad then you ll have been advised at the time of registration. If the findings are to be representative for the whole of malaysia the number of local workers unemployed is now at 16 per cent that means out of the 12 8 million workers 2 1 million have lost a source of income muhammed said.
This is due to the fluctuating nature of income sources for the self employed. The mco had also turned more of us towards trying to earn income through the hobbies we finally had time to explore and hone our skills in. Selling products and services to only malaysians will stagnate your.
From the 170 000 workers polled half of those self employed reported to be out of work while up to a third said their income dropped by some 90 per cent. Quitting your job so that you can be your own boss is a popular reason why people become self employed. You ll still have bosses.
But let me tell you i now juggle between at least 5 bosses employers clients. You ll need to register for tax return filing.
