High Possibility of Singaporean Students Being Future Business Frontrunners
Having the highest quality of education, Singapore has been shaping young minds to succeed. To help students adapt to the real world, educators have been incorporating practical information into the curriculum instead of just letting them memorize a bunch of textbook stuff. As a result, Singaporean students turn out to be some of the brightest scholars worldwide. One can say you are set for the future if you’ve graduated in Singapore’s premier universities.
As a Singaporean student, you may have been laying down your career path as early as now. Many have been trying to do business to earn money independently. It’s actually a great idea considering the fact that gaining financial freedom and security are getting more relevant nowadays.
Having the mind of a businessman would truly help you out on your future endeavors. You meet many people, manage your finances, calculate and evaluate risks, and deal with setbacks. These experiences not only enhance your overall skills but also reduce your chances of failing from real-life difficulties you’ll encounter.
Ideally, business does not discriminate and saying that success lies in your DNA is pure hogwash. As long as you have the perseverance and resilience to push through your goals, you will definitely go a long way.
Opportunities and Challenges of Singaporean Students Doing Business
With Singapore being the epitome of globalization in Asia, every business opportunity is lucrative. Every industry promotes productivity, quality, and reliability in all aspects. Having said that, starting a business is not without its challenges. In fact, it takes more than conceptualizing and planning to just establish your own.
Basically, you need local and legal information before jumping ahead. Gathering, familiarizing, and analyzing these data might be more complicated than your usual academics. Such information may overwhelm you at first, but don’t rush and pressure yourself into getting every concept on your head. Take your time when mustering these details. Savor it like a juicy, tender, and scrumptious steak you eat at a top-tier restaurant. Every businessman has gone through this tedious process. Eventually, you’ll get the hang of it, just like them.
For starters, you can register as a sole proprietor or a partnership. Make sure you have enough capital to satisfy your short-term and soon, long-term goals. You can get funds from SME banking lenders, angel investors, or from your savings. Of course, you need to commit to stashing a portion of your allowances to make the third option work. For a minimum of S$1,000, you can operate a small online shop, an herb garden, or a blogging site.
There are various business ideas which are open even for Singaporean students. All of them have varying target markets and audience sizes. Identify first what interests you the most, and only focus on the target market right after. Here are some ideas to get you started:
Online Selling
As long as you have the creativity and connections, putting up an online store wouldn’t be so hard. You would only need to build a website and make sure you promote it regularly. Singaporean students can easily spread the word around the campus, and with great networks, reach other universities as well.
Sell everything under the sun, provided that the wares are fresh and trendy. Customers always appreciate durability and functionality, so make sure you add these elements too. Competition is cutthroat with online selling, from clothes to crafts to accessories. Standing out can be challenging, so don’t push yourself too much. Have fun with the experience and eventually, you’ll win over loyal customers.
Call Center Representative
If you have a great command of the English language, then you can try being a call center representative. Above average communication skills are required for the job. You might want to invest in training if you’re not confident with your aptitude. Aside from these skills, you must also own a phone line and a strong internet connection.
The good thing about this is you can even work at home. There’s a home shore movement nowadays that aims to hire more home-based, independent contractors for handling customer service issues. Many Singaporean students usually have a night shift, working right after school. The real challenge here is the application process, as there are only a few employers who accept working students. Companies also prefer those with experience.
Video Production
YouTube stars are getting younger than ever. Such trend opens so much opportunities for Singaporean students to produce videos and share it with the world. Depending on your quirk and charm, you can make big money for being a social media sensation.
Meanwhile, you can still earn a decent income while working behind the scenes. Singaporean students who have the talent in video editing can make a great living. Individuals, event organizers, companies, and organizations open their doors for those who can portray effective, viral, and relatable marketing campaigns. The rates you charge will depend on your area, equipment, and background.
Blogging
Telling stories could do many wonders, and you can definitely monetize on them. While that’s the case, you don’t become a millionaire overnight by blogging. It takes passion and time to grow a following and establish your niche. These challenges sometimes discourage upcoming writers to pursue their goal. Start experimenting with fields that interest you, then narrow them down slowly. There will be times when you’d want to cover everything. However, a good writer knows how to organize and channel their thoughts properly.
Eventually, you’ll get readers and clients who would need your services. Compensation can vary on experience and skill, but the demand is utterly limitless.
Electronic Repairs
If you’re one of those Singaporean students who love tinkering with machines or electronics, then this business is for you. There are too many machines that require repair due to malfunctioning or accident. It ranges from computers and mobile phones to even appliances. A professional repairman could charge more, so you may promote your services at cheaper rates. Of course, you need to build trust and experience with customers to ensure loyalty. In addition, your main investment will be tools and spare parts, as well as a repair stall. You can market your services online which is a great promotional move.
Catering
Cafeteria food is often overpriced, and too much McDonald’s can lead to health problems. If you love cooking for whatever reason, then why not start a home-based food business? Start with a small capital by baking healthy goodies or snacks. Once you’ve garnered avid foodies who patronize your cuisine, jump ahead to light or single meals. The money you could make will depend on the meals you prepare and your advertising skills. Word of mouth is an effective marketing tool, which can expand your gigs into a full catering business.
Tutoring
As stated earlier, Singaporean students perform excellently in academics. This could be a great thing as they can pass on the learning to the younger generation. While the educational system is already outstanding, a one-on-one tutorial is more focused on hastening an elementary student’s learning process. Subjects include basic or intermediate Math, English, Science, and many others.
Teachers in Singapore offer tutorial classes but the rates are quite higher due to their experience. Having a major in education is a plus for tutoring, but is not compulsory. All you need is comprehensive knowledge in one or more academic area and an organized lesson plan. Jobs like these could pay you to help local and online students do better in their lessons.
Music, Art, or Dance Lessons
Honing one’s talent leads to an enrichment of a person’s identity. Some of us are fortunate to acquire innate talents, while others strive harder to learn. Either way, many wishes to enhance such aptitude by taking formal or casual lessons. You may provide these services at your home studio, or you may rent a space as well. Of course, you are expected to be a master of your craft. In addition, you’ll be investing in equipment, instrument, tools, and other miscellaneous items necessary for the course
As with all small businesses, designing a website or a social media page will help you gather students. Impress them with your experiences, like playing the guitar, painting a landscape, or doing the tango. Begin with a small class of five students, then grow the room when you’ve earned enough to expand.
Digital Marketing Affiliate
When you’re blogging, you don’t only earn money by publishing regular content. In fact, you may also promote other products or services by being a digital marketing affiliate. Basically, the first step is to create a website and garner an online audience. Companies prefer this digital marketing approach as it is way cheaper compared to launching video advertisements. As an affiliate, you have the option to either sell products directly or recruit other people as associates. You will earn passive income by getting a percentage of each sale.
A huge social media following can also be beneficial if you’re an affiliate. You can simply leverage this power to lead more people directly to your advertiser clients.
Graphic Designer
Graphic Design is a highly technical skillset which requires meticulous attention to detail. Most companies would hire professional artists for the job, but low-key businesses prefer more cost-efficient options. Some even employ students, provided that they possess extensive knowledge and remarkable flexibility. The best thing from this job is you can work from home or anywhere you want. Search your online leads through job portals which offer part-time or contractual postings for designing promotional resources.
Photography
Photography can immortalize treasured moments by encapsulating them in one click. We usually keep the photos we take, from the food we eat to the selfies we adore. Most of us take photos for leisure, yet we often overlook photography’s creative opportunities.
Thankfully, many photographers are taking this craft seriously. If you’re one of them, then you can devote your time and passion for this profession. Eventually, you’ll reap the benefits. If you’re still a beginner on the field, you’d want to invest in a decent camera first to hone your skills. Don’t purchase the latest, most expensive model right away. Focus on building your portfolio first.
Once you’ve established a good standing, start putting up your home studio and offer affordable photography services to people around you. You may also post ads online to reach more people. Most commercial photo studios charge exorbitant prices, but they are guaranteed to be professionals already. At this point, the portfolio you have built should be competitive enough to sway clients into thinking that you’re the more practical choice.
Photographers have a lot of ground to cover. You can partake in weddings, marketing events, photojournalism, and more. People will always have a reason to preserve moments through photos, and they will pay a good amount for it. According to research, professional event photographers can charge S$100 and S$150 per hour.
If you’re not actively shooting photos, you can still gain profit by selling your photos online. Websites like Shutterstock and iStock Photo would gladly buy your impressive collection.
