Small Business Ideas In Singapore – During the global health crisis caused by COVID-19, Singapore claimed the top spot as the world’s best place to be during Covid. Many multinational companies and their subsidiaries find Singapore’s foreign trade-friendly laws friendly to international and local businesses. In 2020 alone, there were over 280,000 small businesses in the country that easily transformed with the help of government support.
Singapore is a ripe country with demand for any local or foreigner and there is a need for good small businesses in Singapore. These 15 business ideas could give you your big break.
Small Business Ideas In Singapore
Fancy Opening A Business? See our business loan guide and our articles on what business to start in Singapore.
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Online marketing is a progressive industry that has seen steady growth over the past decade. The growing roles and convenience of search engines make them an efficient tool for spreading brand messages, product awareness, and more. Search marketing strategists are very familiar with current Google and search engine algorithms, pay-per-click or impression advertising strategies, and working with online content teams.
Search engine giant Google leads among its competitors in search volume and quality, with Singapore accounting for 85% of all online search engine traffic in February 2022. Even if the industry you are in faces a lot of competition, you will likely have a lot of clients to rank for on search engines and grow your network.
The pandemic spurred the growth of the e-commerce industry to new heights due to restricted movement, forcing many Singaporeans to turn to online ordering and using e-commerce services to get the items they need.
You can run an e-commerce business using an established platform or create and market an e-commerce business yourself. Sellers can use Shopee, Lazada, or Carousell to sell on established e-commerce platforms. You need to find good hosting for your own business, decide your e-commerce business style, and consider these other aspects if you want complete e-commerce business freedom.
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As of January 2022, Singapore’s e-commerce market continues to grow. It had a total market cap of 16.2% during this period, and the entire ecommerce business industry is expected to grow in the coming years.
Social media management includes managing multiple social network accounts, managing communities, and being a brand representative of communities and chat inquiries. Social media management services are responsible for creating, scheduling, and analyzing social media posts in order to find the right content, schedule, and network for maximum brand visibility.
Digital marketing agencies include social media management as part of their business packages. Alternatively, sole proprietors and freelancers can build their own social media management brand and use a variety of tools for quick and accurate posting, analysis, and reporting to their clients.
Singapore has at least 84.4% of the country’s total population on the social network. You can expect that many brands and businesses have social networks to reach their target market and spread awareness and work with their expertise to achieve their social network goals.
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Graphic design is a separate practice from graphic arts. Graphic design deals with marketing, professional representation and symbols that accurately portray a brand. On the other hand, graphic arts deals with complete creative freedom with minimal to zero regard for any brand or symbolism.
Graphic design agencies and business marketing departments work together to create advertising visuals in print and digital media, logos for businesses, letterheads, website banners and more. Alternatively, individual Singaporeans and foreigners from the country can start their own solo graphic design business as freelancers or agencies.
According to JobStreet Singapore, the demand for graphic design does not diminish as long as designers remain competitive, are proficient in digital art tools, and have extensive professional networks.
Without web designers the internet would not be what it is today. The practice has evolved from grid-based design to a modern single-column and page approach for mobile responsiveness and exceptional UI and experience for visitors.
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Web designers typically work with copywriters and graphic designers to create branding materials. Designers plan the overall web page layout, button placement, slider usage, and other technical and navigational website aspects.
Web design is still an ever-growing industry, with a high demand for freelancers to run any web-designing online business and provide maintenance, search engine optimization, and website updates and optimizations.
The increased internet connectivity has made it possible for various businesses to outsource work to low cost countries. Virtual assistants have become a product of the advanced internet speeds we have today. Often referred to as remote workers, virtual assistants take on the role of office secretaries, professional duty traffickers, and more.
Virtual assistant agencies educate and screen suitable potential assistants to assist their clients. On the other hand, businesses can hire independent virtual assistants who are sole proprietors of their VA business.
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Virtual assistants have many responsibilities depending on the scope of their duties. For example, a virtual e-commerce assistant would be responsible for uploading new products, writing product descriptions, proofreading blog content, and more. A web design virtual assistant may focus on a specific design subtask, such as backend coding and technical revision.
The continued growth of Internet technology and the rising cost of local Singaporean recruitment and “Singapore first” policies may lead to the continued dependence of many Singaporean businesses with the VA. The most reliable people come from countries with a low cost of living and work with VA agencies.
Traditional and digital editorial jobs in Singapore still pay highly. An online business with a website will require a professional willing to act as one of the following:
Freelance writing and editing in Singapore are two of the country’s cornerstone industries that can support an online store, e-commerce shop, or any business idea that requires a writer to generate content, write copy, and create a great written impression. Can afford for what attracts the attention of the audience. Attention.
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Everyone needs smelling and clean clothes to wash on a daily basis, but most people have zero time to do laundry. A laundromat is very profitable in Singapore. Even if it has a lengthy registration and permission process, having a laundry business in Singapore can be smooth sailing.
According to an established Singapore laundromat franchise, their laundry business model can generate 30-35% immediate investment return and pay back everything in full later. Furthermore, the franchise says that the industry is one of the most resilient and well-insulated against any economic or health crisis that the country may face.
As a delivery business, you manage the logistics and timelines to fulfill orders for Singapore e-commerce, pre-packaged goods and cloud kitchen businesses. This means you’ll need a warehouse to temporarily store and sort products, vehicles to deliver them to select points, drop-off zones where dispatchers can drop off items, and delivery couriers to pick them up. and send them to your warehouse.
Given these requirements, you need to have a warehouse, several vehicles of different sizes and a huge capital to keep additional equipment to run your business. However, your investment efforts will not be in vain as this sector continues to grow with very positive predictions till 2025.
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Fitness coaching is seeing a huge demand among Singaporeans who want to get fit. Traditional in-gym and nutrition coaching has always scored great marks until the health crisis in 2020. However, fitness training saw a great demand between 2020 and 2021 as sedentary lifestyles encouraged many people to stay fit indoors.
Even today you can choose to become a fitness coach remotely or in a gym. You’ll need to pass a few tests, make sure you know your craft, and register yourself before you can get started on one of the best small business ideas Singapore has to offer.
Affiliate marketing is a traditional and digital strategy that involves third-party publishing to generate leads and make a profit. For example, a blog may feature various Amazon products by using Amazon affiliate links in its reviews. Each referral made from their content can help them earn profit, encouraging bloggers to write well-written and transparent content.
You will not need any registration or license to become an affiliate. Register an affiliate account with your chosen established businesses, create your own publication, place the link strategically in your content, pay attention to restricted publishing methods, and you are all set.
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Livestreaming is often synonymous with video games, but it is also relevant to many top brands and businesses. For example, Singapore-based Madada garnered millions of views in a single livestream event.
You can introduce your brand, products and services during your livestream. An engaging livestream should be entertaining, informative and generally helpful to viewers. Furthermore, you will not need to incorporate your solo livestreaming business to earn thousands per month.
Singapore is known for its exceptional internet infrastructure, which makes streaming an easy business idea to implement. Globally, the demand for livestreaming in sports and other industries could grow by up to 18% over the next few years.
Freelance accounting services are small business ideas that require little capital but depend to a large extent on your initial specialist education. Following these steps will ensure you get better leads, create attractive accounting packages for future clients, and learn proper service marketing to generate more leads.
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If businesses of various sizes still need proper inventory and financial management, the demand for freelance accounting may never subside. Because of their specialization, freelance accounting services are highly competitive, but an older or