Top 10 Small Business Ideas: Small Capital Business Ideas in Singapore
Noone willing to start a business in Singapore is devoid of the knowledge that the commerce environment of the city-state is an ideal place for them to grow. It is just that some of us are stuck in a situation where we just can’t think of a business to undertake. A successful business venture starts with a great idea, but some of us just can’t think of it. To be frank, once you get it, you will realize that it is not so hard to think of one. In a business state like Singapore, you don’t necessarily need to have a revolutionary plan, all you need to do is think of something that actually works, selling something that people need. Keeping that in mind, to help you with that, here are the top 10 small business ideas in Singapore that you can undertake in 2018.
First comes this. The tourism industry in Singapore is a vast one, and you don’t necessarily need to be an airlines company or a five-star lodging to be a part of it. The reports of the Singapore Tourism Board (STB) said that about 15.6 million tourists visited the country in 2017, which means there is plenty of work for smaller tourism businesses like a personal guide, souvenir shop, language translation services, e.t.c. All you need to do is find ways to be useful to the wonderful people that visit Singapore each year, and that will set you up as a successful small business owner in the city-state.
Event Planning Business
With plenty of events taking place in Singapore each day, being an event planner or opening en even planning company might as well bring in a considerable profit. When people organize an event, be It personal, like a marriage, or corporate, like a seminar, they want it to be professional. The ones who host events like these generally have a very little time to be giving attention to every little aspect of the program, and missing even one of them could result in a potential disaster. So, working as an event planner, you are set to help a lot of people or organizations in need like this to make good money.
Don’t forget about the food business if you are looking for the top 10 small business opportunities in Singapore. People love food everywhere in the world, and they would always want something new to taste. Especially in Singapore, this has been taken to a new level, where people from so many backgrounds reside, and that’s the reason even tourists visit the city-state specifically to taste food from different cultures in a smaller boundary. So, you can be a part of the party, being a provider to something unique to the craving taste buds of the people to get good money in return.
Transportation services are also a reliable way to kick off your small business venture in Singapore. Even in a smaller investment, you could still buy a private cab or a limousine, or you could go for something more significant depending on your availability of the budget. However, you are a part of the transportation service, providing a service like this is a very secured route for making a decent income, for it is one of those fields where you will never be short of customers. That’s the reason it has been included as one of the top 10 small business ideas in the city-state.
Laundry Services could be one of the great ideas for small business Singapore. A competitive service to make a name for yourself, but if you do, you will be running a small business with one of the biggest profits in Singapore with a self-service laundromat. There are tens of thousands self-serving laundromats in the city-state, but look at the bright side; the combined profit that these companies make annually is well over $10 billion. The reason for laundry services being so successful in Singapore is partly the population being too busy in their work, and also, the large number of tourists visiting the country each year is also to thank for it.
Freelancing/ IT Services
Some people would rather have freelancing defined as a job. However, it has its reasons for being included as one of the top 10 small business ideas in Singapore. Look at it from this aspect, as a freelancer; you sell your service, and the party receiving it is the consumer. You have complete freedom to state your price, and it is for the customer to decide whether or not to take it. With technology taking over the world, freelancing will take you a long way if you have relevant skills. Specifically, in Singapore, you will always find business startups demand great software or website. You are in for a treat if you know how to connect, work and do research for the business.
Not only in Singapore, but Commerce will also be in the top 10 small business ideas all over the world. You have seen sites like Amazon and Alibaba, and you can have an e-commerce website providing similar services. Or, you could also try to make your name in affiliate marketing. You can individually help a third party sell their product online or get a commision for every item sold. Also, there are many other concepts associated with e-commerce. You will need some practice before you can bring back good returns.
Courier Services also makes it as one of the best small business ideas Singapore. There are various business houses in Singapore, and you make it work on your favor. When you open your courier service, you give businesses a flexible pick-up or a drop off time. This will make them willing to work for you. As smaller courier fix your schedule according to theirs, businesses in Singapore prefer to work with them rather than those of big companies who have a tight schedule.
So, opening a courier service in Singapore means you will have a busy routine. You will be making some good money all the time.
Financial Consultant Services
This is for you if you have a clear understanding of the maths of the commerce world. Businesses in Singapore have a busy time figuring out their finances, due to which they lose their precious work time. You can come to the rescue, and provide services such as financial auditing, tax calculation, e.t.c. Services like these are more than welcomed in Singapore. It is always a good idea to open a business making use of your financial knowledge. Thus, financial consulting services is a must know for ones willing to venture into the world of commerce. This is because it’s one of our top 10 small business ideas in Singapore.
How many people do you think switch apartments every day in Singapore? How many people do you think wants to get a real estate in the city-state? Well, answering questions like these will help you figure out why home business is one of the top 10 small business ideas this year. There is a wide range of services you could offer under this category like home inspection service, home staging, and relocation services. All of them will turn out to be very productive if you go about them in the right way.