Top 15 Small Business Ideas to Start in Singapore TODAY! 2022 EDITION
Let us not mince words: the epidemic was devastating to the whole planet. It resulted in a significant economic upheaval, forcing many enterprises to turn their own organisation into an internet business, while others did not.
If you're looking at this post for a company concept, you could be one of the unlucky ones. Alternatively, you may be a housewife who wants to earn money in your spare time from the comfort of your own home, or someone who wants to operate a lucrative business alongside their normal job.
Fortunately, there are still a few viable company concepts and business models to which we may turn for much-needed cash.
A new business, like any other money-making endeavour, requires time to establish. In order to gain any rewards at all, we all know the basic rule that you must put in a lot of effort.
And, after your business has taken off, the perks may be extremely delightful. For example, you'd be your own employer, and quitting your 9 to 5 is a fully conceivable alternative. And, if you're lucky enough to enjoy what you do, you'll be able to make a living doing it.
So, without further ado, here are our top 15 of the most viable business ideas in Singapore for you to start your own:
1. Tutoring
Tutoring is a good small business concept if you want to use your skills in a similar way. Tutoring, like creating a consulting firm, is something you can do with your own experience.
You can begin instructing by determining your area of expertise. Similarly to consulting, you must then sell yourself in order to locate students with whom you can collaborate. You might also utilise freelancing platforms or websites that exclusively act as venues where individuals can locate teachers to find clients.
Your lessons may differ based on the arrangement you've made with your student. Previously, a tutor would visit their pupils' homes while being supervised by their parents. Video sessions are the most frequent method to go in the COVID-19 era.
In the expanding trend of webinars, you may even be able to instruct numerous pupils at the same time using some form of video arrangement.
2. Health, Wellness, Lifestyle Coaching
In the same vein of education, coaching is another popular type of business for you to consider. People will come to you to help them with their individual issues, much like the other businesses that may employ your coaching experience.
Being a health and wellness or lifestyle coach typically focuses on self-care, spirituality, health, food, confidence, and other more internal issues. Many people in the coaching industry begin as bloggers, then go on to produce books, offer online courses in their chosen subject, and so on.
To combine this with video as we have mentioned in the previous point, you may even consider starting a YouTube channel of your own. All you need is a stand for a camera and some decent lighting, and you’re off to the races! Of course, if you have better equipment, your videos will look better, but you could even start with just your phone and a selfie stick.
3. Consulting
Being a consultant is one of several profitable small business ideas. You can work as a consultant if you have extensive knowledge in a certain industry such as business, design, marketing, finance, child care, and so on.
You must first define your skill and specialisation for this business. Then you must ensure that you are appropriately prepared with all of the tools and knowledge required to supply your consumers with your services. Finally, like with any business, you must learn how to sell your services.
The nicest aspect of working as a consultant for a small firm is that you are putting your knowledge to use, which you are most certainly capable of doing. It's also a business that may be started with little to no money.
4. Taking Online Surveys
You might be shocked to discover this on a list of small business ideas, but completing internet surveys is another feasible way to make money.
Filling out online surveys allows you to make money just by providing your opinion on various items and services.
The key word here is quantity. The more surveys you finish, the more points you get. These points may be redeemed for cash, gift cards, and other items.
5. Social Media Management
Speaking of online…another popular profession that is emerging is that of managing social media profiles. For example, an online firm may opt to delegate the administration of their profiles/pages to others who are more knowledgeable about marketing.
Some things you may do include creating material on the social media site on a regular basis, such as copy, images, videos, and the like, in order to increase likes, following, and engagement. However, you may be required to communicate with consumers that reply to the website.
Given the advent of digital business, they are among the most readily available small company ideas in the employment market today. Some popular and common platforms that you might consider managing are:
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Facebook
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Twitter
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LinkedIn
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Instagram
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TikTok
6. Graphics Design
Say that you have an artsy streak and if you have artistic design abilities, you may opt to work as a graphic designer for many firms.
You might design logos, menus, content images for internet pages, advertisements, and much more.
7. Cryptocurrency Trading
Now, this one's a bit controversial and you have to be quite careful in dealing with this. However, that said, we can’t deny how popular it is these days.
Cryptocurrency has gradually grown to become one of the most important trading platforms. Buying a cryptocurrency at a low price and selling it at a higher price is similar to stock trading.
The value of various kinds of cryptocurrency has surged in recent years, with more and more varieties emerging. Some common currencies that people have been trading include:
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Ethereum
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Bitcoin
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Dogecoin
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Cardano
8. Laundering
First off, no, not that kind of laundering. We’re talking about actual, good old-fashioned doing the laundry and cleaning clothes. We just wanted to shake things up and not have this whole listicle be all online businesses.
Why laundry? People are required to wash their garments on a regular basis. However, some individuals are too preoccupied with work, child care, and other responsibilities to clean their clothing, beddings, curtains, pillows, and other items, despite the fact that it is necessary.
Starting a washing business in Singapore makes sense since it is necessary, and there is a high demand for some individuals who would rather spend their time doing something else. Your money can benefit from taking advantage of this popular business opportunity.
Be warned that when compared to other small business ideas, beginning a laundry business might be capital costly owing to the necessity for high-quality washing equipment to run a profitable operation.
9. Baking
If you already have baking abilities, why not turn them into a business? Baked products, especially handmade ones, are in great demand all year, and demand might spike during certain seasons.
A bakery is one of the best companies you can start because of its diversity and consistent demand. It is also not extremely capital-intensive in terms of supplies and delivery expenses (especially if you already bake), making it an accessible business concept.
The typical fare of cookies, cakes, and brownies are already excellent selections. Those items, in general, make excellent gifts, and as such, they may be popular at any time of year. You may conduct promotions for important holidays such as Valentine's Day, Christmas, and any other event when sweets might play a part.
You may also explore the world of personalised cakes. Customization is a very profitable business with a large profit margin. Personalised cakes are popular as gifts for birthdays and other occasions.
10. DIY Craft-Making
If you have a talent for manufacturing trinkets and other crafts, why not turn it into a small business?
You may make a variety of things, including stickers, crocheted apparel, soaps, candles, figurines, and more.
If you don't have a certain skill in mind, you might locate one that you're interested in learning about and are passionate about by conducting your own research on the internet. You will not only be doing something you enjoy, but you will also be earning money.
11. Virtual Assistant
We’re back on to the online ones now and working as a virtual assistant is quite a popular small business idea.
You normally simply have to work from home in this line of business, and you may do it full-time, part-time, or as a student and still make a living.
The sort of work you undertake will be determined by your customer. You could, for example, fill data entry positions, manage schedules, contact individuals for your customer, handle papers, and so on.
Even as the pandemic dies down, there will still be a need for remote services.
You may also work on many projects for different clients at the same time. It is a terrific possibility to earn extra money if you can manage your time well.
12. Dropshipping
Yes, dropshipping makes yet another one of our lists. For those of you in the know, Dropshipping is a business concept similar to eCommerce. The distinction is that your company will sell things but will never store inventory.
When a consumer purchases a goods, your company will place the order with a supplier and make money as a middleman.
Dropshipping is primarily reliant on the quality of the items, the timeliness of delivery, and the reputation of the provider, but a significant part of it is how many clients you can pull. If you are confident in your marketing abilities, this small firm might be a good fit for you.
13. Content Writing
You’re reading an article written by a content writer…surely, you didn’t think we’d leave our own bread and butter out of the list, did you?
Yes, content writing is another popular area of profession. As a content writer, your services will be comparable to those of a blogger. As an outsourced person, you may be required to produce articles in order to attract visitors to the site.
Your articles might range from informative, research-heavy stuff to reviews and many other things. You can work as a freelancer and eventually form a team if you receive enough clients. Some notable platforms include: Toptal, Upwork, Guru, Fiverr, People Per Hour, and many others.
14. Online Marketing & Blogging
Somewhat more specialised than just Content Writing. Blogging and online marketing is a popular means of generating money on the internet. Online marketing is a terrific business strategy for profit as long as you have a specialised platform that attracts an audience.
A blogging platform is one of many options, but you may also accomplish part of this through social networking sites such as Facebook, Instagram, and YouTube.
Online marketing may be done in a variety of ways, including:
Affiliate Marketing
Affiliate marketing is a type of marketing in which you create content to serve as a referral for a certain product. You normally make money through commissions or when someone clicks on a URL you provided and is redirected to your client's page, which is known as an affiliate link.
Advertising
Allowing businesses to place advertisements on your website is another option. Companies relating to your specialty may offer to display adverts on your website for a monthly fee if your site is famous enough. You may alternatively utilise Google AdSense and allow the software to decide which advertisements to display based on the intended audience information; in this instance, you can charge per impressions or clicks.
Sponsorships
Finally, you may be contacted by a company interested in sponsoring your material if it is popular enough. This is especially widespread on social media platforms such as Facebook, Instagram, and YouTube.
These days, there is a high need for content. While platform blogging may still be a reliable source of income, social media and video content are rapidly gaining traction as the medium of choice. Whatever you pick, generating money through marketing and advertising is a good small company to start.
15. Ecommerce
Surely you haven’t forgotten whose website you’re currently reading this article on, have you? Of course we are going to absolutely put e-commerce businesses as an idea on this list since that’s what we mainly do!
Opening your own internet store is another concept that you can put into practice to get yourself some financial freedom and independence. You can sell almost anything, including food, indoor plants, vegetable growing kits, and urban garden equipment, which are gaining popularity as we’ve seen since COVID-19 hit.
As a prospective entrepreneur, you should think about whether you want to join an online marketplace or create your own website/online store.
Any online marketplace is basically like a shop that sells things…online. However, you will normally have no control over the setup, design, listing procedure, or customer support.
However, with Shopcada, that’s a thing of the past. You can design your site to look however you want and we provide proprietary tools that help your business journey like our CRM modules, batch fulfilment modules, FB Live Streaming integration, and many more!
The best part of all this, unlike other platforms, we don’t make you download a billion apps. Yes, we are a fully self-contained, fully-integrated, all in one solution to your ecommerce business needs.
Feel free to have a look through all our features and benefits here!
Closing Words
You are now prepared to launch a side hustle, a lifestyle business, or maybe something more! Some final words we will impart - "Choose a profession you love, and you will never work a day in your life," as the legendary Confucius himself says.
Many people, however, get hung up on considering what type of businesses they may start. While we have given some ideas here in this article, all of it will be for nought if you do not lace up your shoes and prepare for the new adventure. Keep in mind that there is no shortcut to hard effort.
