Thinking of starting a business in the beautiful and growing country of Singapore? In this article, we will look at why doing business in this country is lucrative and what important information you should keep in mind. Additionally, we will also present you with a list of the top startup ideas you should consider.
Doing Business in Singapore
Irrespective of where you are located, you can easily start a business in Singapore. Small business and startup ideas thrive in this country because of its:
- Healthy and conducive business ecosystem.
- Proximity to major players like China and India.
- Reputation as a major global hub, with a highly used and traveled international airport and one of the world’s busiest seaports.
- Interest in foreign investments, and more.
These reasons make Singapore highly attractive to individuals with blossoming startup ideas and interests, and the finances to make it happen. Whether it is using toll free Singapore numbers or connecting on social media platforms or hosting major events, these businesses can take advantage of the country’s fast-growing economy to boost themselves.
2020 Singapore Startup Ideas
So, what are some startup ideas that you should consider when starting a business in Singapore? You can check Singapore business review before starting a new business in Singapore.
The restaurant industry is thriving in the country, with services ranging from meal prepping and delivery services to custom baking. Additionally, technology and electronics is a field that continues to grow and gain traction. Freelancing and marketing services such as SEO, web design, social media, etc., are also gaining popularity as digital marketing continues to gain a reputation across the world. Furthermore, it seems that daycare and elder care services are in demand in Singapore. And virtual services such as receptionist, scheduler, assistants, etc., are also sought after.
Here is a list of some startup ideas to pay attention to:
- Financial Services
- Farming
- Hospitality Businesses
- Fast Food Joints
- Meal Prep and Delivery
- Home-Based Restaurant
- Personal Chef
- Custom Bakery
- Laundry and Dry Cleaning
- Janitorial and Cleaning
- Travel and Tourism Agencies
- Transportation
- Aerospace and Aviation
- Auto Part Sales
- Electronics
- Appliances and Repair
- Biotechnology
- Telecommunications
- Information Technology Services
- Computer Maintenance
- Online Marketing and Advertising
- Freelance Writing and Copywriting
- CV/Resume Writer
- Photography
- Web and Graphic Design
- SEO Marketing Consultancy
- Translator
- Social Media Consultant
- Career Coaching
- Education
- Professional Course Training
- Home Tutoring
- Elderly Care
- Day Care Services
- Errand Services
- Fitness Training
- Healthcare Consultant
- Clean/Sustainable Energy
- Eco-Friendly Retail
- Fashion Retail
- Thrift/Vintage Store
- Online Retail Consultancy
- E-Commerce
- Courier and Shipping Services
- Event Planner
- Virtual Assistants
- Virtual Call Center Agents
- Remote Bookkeeper
Starting Small, Growing Slowly
With startups and small businesses, you generally start small and grow gradually. To support your business during this time, you need the right tools. Depending on which startup ideas you go ahead with (one or more), you may require:
- Product development tools
- State and governmental licensing and tax requirements
- Bank accounts
- A marketing team
- Physical office space and office supplies
- Communication tools
- Cloud-based phone service provider, for example, globalcallforwarding.com
- Employees
- Website and social media accounts, and so on
Ready to Start Your Own Singapore Business?
Singapore has a lot of potential and room for new business ventures and startup ideas. Here you can watch your small business take root and grow. So, what are you waiting for? Consider starting a business in Singapore today!
Meryl D’Sa writes about a variety of topics for different publications based on travel, communications, business, relationships, and more.
