Singapore is such a country whose market economy is greatly developed. It is traditionally based on prolonged entrepôt trade. The country is considered to be one of the unique Four Asian Tigers. The economy of Singapore is also known as the most innovative, dynamic, freest, competitive and business-friendly. There are lots of business opportunities in Singapore for both the locals as well as the foreigners.
According to Forbes, the country retains the capacity for embracing individuals from all over the regions of Asia Pacific, having multicultural backgrounds and credentials. Singapore also has a distinctive place in the continent of Asia; it enables lots of new and latest enterprises to have a way for flourishing and growing in the country.
Anybody interesting in starting a business in Singapore, he/she must go through the following new small business ideas in Singapore.
15 New Business Opportunities in Singapore in 2018
1. Business of Videos and Editing
The production of videos and their editing is such a skill that is highly demanded these days when business not just needs text but videos content is also very important for promoting their products and services.
There are lots of companies in Singapore that keep on looking for experts for creating various campaigns for viral videos so that they can post them on their social media profiles.
This is a lucrative small business in Singapore. Initially, you can start alone as a freelancer. Later on, you can make an entire team and make up your video editing company. The best part is that it does not require a heavy capital to start this business.
2. Becoming an Insurance planner
It is a crucial skill to plan one’s personal financial budget. Insurance planning is also a central and the most important part of this kind of planning. Undoubtedly, life is always unpredictable and uncertain. Healthcare is also quite expensive these days. Starting an insurance business can be a great idea if you have a proper know how related to the subject.
Later on, you can also specialize in the field. It is one of the best small business opportunities in Singapore indeed. The population of Singapore is separated in different colonies.
The insurance planning can be designed on the basis of the personal backgrounds of the people and the background of their country to which they belong.
3. Becoming a Home Baker
The idea of becoming a home baker also has great potential. Now-a-days, there is a great trend to order cakes and other bakery items on different occasions. This culture is also common in Singapore.
You can start this business on small scale in the beginning by getting orders from your friends, family and colleagues. Later on, if your business starts flourishing then you can also make a proper bakery. You can advertise your business through Social media. You can earn a handsome amount of money every month by starting this kind of business.
4. Photography Business
If you have a professional camera, you are good at taking pictures and have your portfolio, then you can surely run this business of photography. People always love to take pictures. Lots of people hire photographers on various occasions like birthdays, wedding anniversaries, graduation and different kinds of parties.
It is an amazing idea to start a small business in Singapore if you have the above qualities. Attaining these qualities is not a big deal at all.
For building your portfolio, you can make a Facebook page initially and post your entire photography samples along with your water. Later on, you can make a complete website for your work.
Related: How to Start a Photography Business?
5. Becoming a Graphic Designer
The skill set of graphic designer is also greatly specialized for bringing you big bucks. An additional benefit of this business is that it is flexible to a great extent.
You can start working being at home or even being at a coffee shop or a juice corner. You have to make your portfolio for this business as well, so that you can show your sample work to the clients. They can offer you both short-term and long-term jobs depending upon your skills and their requirements. It is one of the great business opportunities in Singapore.
6. Becoming a Fitness Instructor
You can become a fitness instructor if you are experienced and an expert in this. Yoga is an amazing exercise and lots of people in Singapore join Yoga classes. So you can become an instructor if you are good at it to the individual clients as well as corporate clients.
Having a certification of being a physical trainer can be a plus point. It is also used as a proof that you are an authentic instructor. It is one of the great new small business ideas in Singapore for the years 2018-2019.
7. Farming Business
It is a fact that there is a limited land in Singapore that is arable; however, the country still depends largely on the agro-tech for the production of agricultural products and their consumption.
The agricultural products’ demand appears to outweigh the quantity supplied day by day. This is because there are very few people who are working into the sector of agriculture.
Somebody starting the business of agriculture in Singapore is highly likely to make an amazing profit from this business. The bottleneck in this business is that you must be able to bear the technology cost that might be needed to boost the agricultural production.
8. Business of Elder Care
According to one of the Singaporean laws, it is the responsibility of the children for taking care of the aged parents. You can say, this law actually created a great demand for a number of elderly homes and old-houses in the country to provide the elderly people health care and other services.
If you are thinking of “what business to start in Singapore”, then you must consider this option of making an elder care, if you want to provide them the real care.
The services that you have to provide them include making their meals, housekeeping, health services, etc. Along with your emotional satisfaction, it is also a lucrative business indeed.
9. Fashion Retailing Business
The people of Singapore are very trendy and fashionable. They have an amazing sense of dressing. They also love to keep up with all the types of latest trends in the world. Lots of international brands like Zara, H&M, Levis, etc. are making great profits in the country.
If you have a good taste in fashion and styling, then you can make your our boutique in Singapore. Initially you can start an online business if you do not have enough capital. Later on, if you start earning a great amount of profit then you can also make your outlet. It is one of the most successful business ideas in Singapore.
Read Also: 10 Most Profitable Fashion Business Ideas
10. Fast Food Business
People of Singapore also love to eat snacks, pizzas, and lots of other fast food items. Therefore, the inventors have an amazing opportunity for carrying out this lucrative business of fast food eateries.
The capital that the business requires is also quite little in the beginning. Moreover, there is no need for any formal certifications.
Some other business opportunities in Singapore are as follows:
11. Transportation Business Opportunities in Singapore
12. Electronics Manufacturing and Retailing
13. Janitorial and Cleaning business
14. Professional Course Training
15. Information Technology Services