What to Consider Before Starting a Successful Home Improvement Business in Singapore
When starting any business including a home improvement business in Singapore, several key elements are essential to be successful. Familiarizing with these components is one thing and implementing them in another thing altogether.
The moment you feel you’re ready to launch your business idea marks the beginning of a journey to solve a need.
But before you set sail, here are my four steps I’ve considered in starting my own successful home improvement business in Singapore:
Registering My Business
Whether you’re a sole proprietor or a company, registering your business is the first step to consider. In Singapore, the process begins at the Accounting and Corporate Regulatory Authority (ACRA) with the business name search and details of directors in case of a company or partners for a partnership.
Only then will your progress in applying for the necessary permits to start your business. Before registering my home improvement business in Singapore, I had four business names, to be on the safe side during name searching. Before you register your business, ensure that you have several business name options.
Securing the Essential Permits
The process of securing the essential permits only becomes easier when you understand the nature of your business. In my case, I researched online about home improvement businesses in Singapore and with the assistance of EnterpriseOne, was able to know where it falls within the listing.
Through this online platform, I was able to apply for the appropriate permit for my business. Learn to know which other websites set by the Singaporean government that smoothens the process of applying for business permits.
Putting Up an Office
Companies like Apple, Disney, and Google began in a garage. Hypothetically, that was their first office, and eventually, they secured decent office premises.
Importance of Setting Up
Unlike a home-based business where you do not necessarily require office space, one would argue that it’s economical. But by having a secured office space increases the odds of your business growth. This means that customers will access your premises without any restrictions, no limitations of expansion, the inclusion of heavy machinery or the number of employees.
In my case, getting my home improvement business off the ground was easier as finding office space in Singapore wasn’t an issue. I went for what I could afford without compromising on locality.
Hiring the Right Workforce
Getting the right employees is a huge challenge, especially startups that have recently dived into business. But for you to be successful in your business, you must hire the right employees. You may get setbacks during the hiring process and not secure qualified and well-trained workforce, but the Workforce Development Agency (WDA) in Singapore is making it easier for you.
The primary role of the agency is initiating a pool of labor force where small businesses can search for qualified employees for hire. Similarly, if you plan to hire from abroad so long as you’re able to secure their legal work passes, you stand a better chance of hiring them.
One important thing that you should be familiar with is the Singaporean Employment Act. Although I didn’t have any issue understanding it, I realized that home improvement business in Singapore emphasizes the fundamentals.
For example, the medical insurance covers your employees’ sick leave and off-days at the end of every week. This is already part of precautionary measures you need to employ.
Starting a successful business in Singapore can be described as an easy step, but they have a big impact. By sticking to the script, in turn, builds an opportunity for far-reaching rewards. The experiences may differ for each person. However, as Seth Godin once said, “The only thing worse than starting something and failing … is not starting something.”