Here Are 20 Business Ideas for Under $5k That You Can Do in Singapore
Singapore is a city-state where entrepreneurs are encouraged to start businesses. With a good economy, there is scope for these entrepreneurs to grow. However, if you do not have enough capital, you may think twice about starting a business. In fact, one of the main reasons most people don’t start a business is the lack of funds. Luckily, a new business in Singapore does not necessarily mean you have to invest a lot. You can start a business with an amount as less as $5k. Of course, some businesses need to fulfill some requirements. But once you do it, it will be a good money spinner. Let’s see the list of home business ideas under $5k in Singapore.
Fitness Instructor
If you are a fitness freak and have experience in various exercises and yoga, you can take up this extremely lucrative job. You will need a certification for establishing your experience and credibility. A little investment on various exercise machines at your home and you are set to be a fitness trainer. You can take up either individual or corporate clients.
Sell Handmade Products
Handmade products have been in vogue since quite a long time. If you are good at any handicrafts, you can sell your own work online. It requires very less investment of money. You can start small, by gifting your friends and family your work. Once you have built steam, you can expand and sell on online portals or shopping sites too. If you are interested in selling these products, but not so good at handicrafts, you can tie up with a local handicrafts center and sell their goods online. Either way, profits will be huge, with little investment.
Babysitter
If you are good with children, this one is the best choice for you. It hardly requires any investment but is a high paying business. Go for this business only if you have a lot of patience with children. If you can handle multiple children at a time, it will increase your profits. Working weekend nights is a bonus too. Babysitting grows by word of mouth, so be sure you get a good recommendation from the parents.
Consultant
If you have expertise in any field, you can become its consultant. There are many sectors and levels of expertise in which you can take up consulting on a short-term basis in Singapore. You have to keep yourself constantly updates by reading the latest articles and attending seminars related to your topic of expertise.
Editorial Service
English is used widely these days and good editors are often required to edit and correct written material. If you are good in English, you can easily start an editorial service. You can get many jobs online and can grow by slowly building your reputation.
Interior Designer
Many people wish to arrange items in their homes in an aesthetic manner. If you have an eye for interior design, you can excel in this field.
Financial Planner
A financial planner helps people put their finances in order. With proper certifications from the Chartered Financial Planner (CFP) in Singapore, you can easily set up as a financial consultant.
App Developer
Apps are the craze today. Mostly everyone has a smartphone. If you can develop a good app which sells even modestly, you earn huge profits.
Home Tuitions
In Singapore, you can tutor up to three students at a time in the subject of your expertise. It is a very lucrative business with minimum investment.
Home Baker
Personalized cakes are in high demand. Even if you can handle about 15-20 orders per week, you can earn good profits.
Web Designer
If you can build an engaging web page, you can design websites for companies and businesses right from the comfort of your home.
Travel Agent
You can arrange other people’s trips from your home. You need to be knowledgeable about various tourist locations and well-versed in processing documentation.
Event Management And Party Planner
Party planning needs innovative ideas and lots of contacts to work well, not investment. If you know where you can buy the cheapest but best quality products, you are done.
Secondhand Goods Seller
Many people now invest in secondhand goods of good quality instead of buying new at a higher price. Dealing in secondhand goods requires zero investment and you get guaranteed profits.
Social Media Manager
Technology plays a huge role in advertising a business. If you are a large social media user, you can do this business with no or little investment.
Catering
If you are great at cooking and love making food, you can turn your talent into a successful catering business.
Computer Repair Services
You need to have knowledge about computers and should be tech savvy to do this business without any investment. A relevant certification might help you too.
Jewelry Maker
Jewelry making is a very creative and lucrative business. With little investment, you can reap large profits as people are willing to pay for designer set pieces.
Pet Sitter
If you love animals, you can give pet owners peace of mind by taking care of their pets when they are away. Pet owners prefer personalized caretakers instead of boarding their pets at kennels, so this could turn into a nicely earning job.
Video Editor
Video production and editing is used by many companies to promote their products and services. If you are adept at making and editing videos, you can do this business at home with little training and no investment.
These are 20 awesome home business ideas for under $5k in Singapore. Once you decide which business idea you wish to work on, you will have to incorporate a sole proprietorship for working on a freelancing basis. If you are not a resident of Singapore and are staying on a dependent visa, you can get a letter from the authorities for consent to establish a business.
