7 Business Ideas in Singapore for 2022
While claiming the top position as the World’s Best Place to Be During Covid, Singapore was also hailed as the top jurisdiction for multinational companies to base subsidiaries. With these favourable conditions the city-state has to offer, it is high time you should start considering the best business ideas you can start here in the coming year.
If you could do something with a headache or a cough and cold without leaving your home or falling in a queue to have a medical expert diagnose you, which one should you choose?
Under the new Health Services Act, Singapore will start licensing telemedicine in 2022. Telemedicine is viewed as the answer to crowded hospitals amid the pandemic. Public hospitals, private health care providers, and even traditional Chinese medicine acknowledge how the pandemic has changed the way of doing business. Thus, there is a high demand to shift toward teleconsultation services is deemed an important and lucrative business venture in the future.
What you should keep in mind:
Graphic design will forever be one of the best businesses to start because there are so many businesses out there in need of graphic design services but they either can’t or won’t hire a graphic designer on staff. If you’ve got the design chops and have always dreamed of going out on your own, go for it.
The demand for digital marketing has continued to grow along with the increases in ecommerce, content marketing, and social media. The industry is expected to experience double-digit compound growth rates through 2020, and you can hit the ground running without incurring a bunch of startup costs.
If you’re starting a digital marketing business, you may want to consider specializing. As the market expands, it’s also becoming more crowded. You’ll be better served by choosing one thing to do really well—Facebook ads, social media campaigns, SEO-based content marketing—rather than trying to tackle it all to mixed results. This is especially true if you’re starting your business as a side hustle or one-person shop.
Unique business opportunities
14. Create digital products or online courses
Digital products and online courses are some of the most profitable businesses you can run. You create digital products or courses and earn recurring income from them. Begin by creating simple courses, such as tutorials on using applications, languages, or business marketing.
15. Make and sell hand-crafted goods
Do you love hand-crafted items? If so, you can make money by selling the items on sites like Etsy and Amazon. To increase business exposure and profits, advertise and brand your crafted items.
16. Build an audience and monetise it
You can make money by monetising your following. If you have a large fan base, you can use social media platforms like TikTok to make money. Depending on your audience, you can make money using sponsorship, selling merchandise, and creating in-feed ads.
17. Sell photographs
You can make money by using your creativity and monetising your skills. Start by looking for a high-quality camera. The good thing is that some phones have a perfect camera that you can use to start. Here is what you should do to make an income out of it:
18. House and pet sitting
As a house and pet sitter, you will take care of someone’s home and pets in their absence. Design a home and pet sitting package and advertise it on your social media platform. You can design a website to help you market your products and get reviews from your clients. That way, they will be confident they are leaving their homes and pets in safe hands.
Most profitable small business ideas
19. Auto repair
Consider starting a mobile auto repair business if you are a skilled mechanic. Some maintenance and repair jobs don’t require complex tools. You can offer services such as oil change, fluid refills, battery swaps, and headlight repairs.
20. Food trucks
Food trucks are becoming a big thing in major cities. If you are good at preparing delicacies and have a truck at your disposal, consider starting a food truck business. Depending on how well you market and structure your business, the food truck can help you earn S5000,000 to S$5,000 per month.
To start, register your business, get a trading licence, design your menu, customise the truck, and market your delicacies. Suppose you plan to sell food in the Marina Bay area. In that case, you will need to apply for a Non-Renewable Temporary Occupation Licence from the Singapore Tourism Board. You can refer to its map on possible food truck locations.
21. IT support
Mobile IT support services are in demand as more people embrace working from home. To start this business, you will need certification, experience, and expertise in dealing with the most common IT issues. You can make your business more holistic by selling software and applications.
Like any business, you need to register your IT support business and brand it. Advertise your business far and wide. With advanced technology, you can offer your services both locally and internationally.
22. Marketing copywriter
If you are good with words, a copywriting business will earn you a decent income. At the end of this year, the copywriting industry will be worth more than $400 billion. With so many businesses online, the income you can earn is uncapped.