What if you are in the unemployed category?
If you have try your best to get employ but fail. What choice do you have?
You have to venture out on your own. This is the advise given by a lot of writer/entrepreneur to their reader. They advise people to venture out even you have secure job.
What if you have unemployed for sometime and have limited capital?
I feel you can try to explore E-commerce.
Why?
1 Business can be created around your hobbies, passion or expertise
2 Your internet business set up cost is very low
All you need is a Domain Name, hosting and a payment gateway.
3 You don't have to rent an office or shop
Your home is your office, this will save you thousand each month. Thus, your business operation cost is very low.
After the dotcoms bubble bust. Does the Dotcom model still work? We see what the co-founder of Apple Computer, Steve Wozniak said.
I have example of E-commerce that running in Malaysia
www.eflowercottage.com
http://www.cakesmalaysia.com/
CakesMalaysia.com
I assume all blogger are tech savvy enough to understand what is domain name. You need to buy a domain name (.com or .com.my) That cost RM55. You need a hosting company to host your website. You can get RM200per year if you shop around. Thus, total cost until now is RM255.oo
Most difficult part is get a credit card merchant accounts. Malaysia's bank are very reluctant to support e-commerce. You must satisfied certain criteria in order to open a merchant account.
Most e-commerce in Malaysia fail because they do not accept credit card. People usually do not call you or fax to order after they log out from your website. The desires to order has diminished after they log out from your website. The successful rate is higher if your website accept credit card.
Now, you able to have some company host your merchant account for you like woldpay.com in Singapore an some other in Malaysia. But you need to pay a set up fee and upfront annual fee of approximately amounting to RM2,000. If you have limited capital. I think you better save those money for your working capital.
Further, a lot of US company pay you a US cheque like Adsense, which take 4 to 6 weeks to clear in your bank account. As you have limited capital, it is difficult if you have to continue mailing/courier out your goods while have to wait 4 to 6 week to clear the cheque
One company able to wire transfer the proceed to you every two weeks(at a fee). This provide crucial working capital for start up to roll their cash. Further, they never collect annual fee. But they charge certain rate base on your sales. Their set up fee is relatively low.....USD49 (Less than RM200). Thus your total set up cost is RM455.
They are a few Malaysian company that using that US company to accept payment. One example is CakesMalaysia.com above.
The company is
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