10 Business Ideas to Start in Singapore – Singapore is a very interesting country.
Many years ago, when it was trying to declare it’s own independence, many countries did not expect it to survive more than a few years.
But fast forward 56 years, we have a thriving and respectable economy and nation.
As the years passed, many businesses set up show in Singapore and also many different trades thrived in this small economy.
What has gotten Singapore to this position are dependent on a few key points:
- Clear policies set for by the government
- Hardworking and daring populace
- Funds flowing in from around the world
- Strong Financial Hub
- Position as a trade hub and also Financial HQ for South East Asia
This points and not limited to them are a strong reason why many businesses are still using Singapore as their Regional or Asian Headquarters and for some their Global Headquarters.
Just to name a few:
This really shows that Singapore is a great place to run your businesses and also to set up your company.
Either as a new startup business or as a regional HQ for your growing business.
So let us start now by sharing with you what are some of the business ideas that we believe you can start in Singapore.
We shall start our article on “Business Ideas to Start in Singapore”.
1. Hot Business Ideas to Start in Singapore: Crypto Currency
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Cryptocurrency is something really new to the finance industry and also to Singapore.
Singapore, being one of the leading financial hub is still observing them and trying to figure if we should write them into law.
There are many popular cryptocurrencies in the market and the most popular one is definitely Bitcoin.
Bitcoin makes up the biggest chunk of the crypto market and there are many new currencies also founded and started in recent years.
The cool thing is, Singapore is the top location for businesses to launch their crypto currencies in the world.
For a period of time in the late 2010s, Singapore became the top location for ICO launches.
We still believe Singapore is one of the top places for you to launch your Crypto Currency.
We also believe Singapore will remain and thrive as one of the best financial hubs in the world.
2. Best Business Ideas to Start in Singapore: Crypto Currency Exchanges
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When there are many ICOs, there are many exchanges.
The fact is Singapore will also be a great place to start an exchange because of the friendly laws here.
Singapore enjoys being the leader in financial industries.
There are many reasons to be at the forefront of new things because we can take this advantage to take a lead.
An exchange will also means that some people who want to have their crypto changed into fiat to be stored somewhere can do so in Singapore.
Singapore has a strong banking industry to support this.
Singapore has been coming up with new laws to govern crypto currencies and we look forward to see how this will allow the industry to thrive in Singapore.
3. Top Business Ideas to Start in Singapore: Micro Loans / Business Loans
There are many businesses and there are definitely financing needs.
Not everyone is keen on getting new investors in exchange of shares.
The fact is if they can get some small loan to keep going they will make it.
Business Micro loan startups are extremely popular now because they fill a gap where the banks don’t.
Banks do not want to lend to startups that are not proven to make money or they are too young.
Banks like to have the best businesses that come to them to take loans and this leaves many small startups starving for funds.
4. Popular Business Ideas to Start in Singapore: Food & Beverages
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Singaporeans love to eat.
Many say Singapore is a foodies heaven and i will believe so.
Many Singaporeans or Foreigners are willing to pay top dollar for good food.
There are also many places in Singapore to get yourself some booze.
Food and Beverages such as alcohol are a great way for you to make a good buck if you have a good theme to it!
Find out some of the weirdest ideas and test it out on an audience!
5. Good Business Ideas to Start in Singapore: Self Driving Vehicles
For the new technology of self driving cars, Singapore is definitely a good place to do localised testing.
Singapore also has a very strong sector for such developments.
With many engineering graduates to tap from the local universities, Singapore is a preferred choice for many.
If you are into building the next generation of technology, you can consider going into this side of tech in Singapore.
6. Great Business Ideas to Start in Singapore: Digital Marketing
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There are many businesses based in Singapore.
The fact that we are a finance industry leader and also a low tax regime, we attract many businesses.
For most businesses, there is still an intense need for marketing.
Marketing is also out of the traditional and into the Digital.
If you are someone who is able to do very good SEO, SEM or Facebook/Instagram Marketing, you will definitely have an edge.
Digital Marketing is still the way to go for many businesses going forward.
But what we do suggest is to have a automation or system to help businesses improve their digital marketing and also for them to do it themselves.
Because even though good digital marketing is a good start up idea, you can still do something that helps the digital marketers!
7. Hot Business Ideas to Start in Singapore: Funds Management for High Networth
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There is no coincidence when this news just came on recently: Google co-founder Sergey Brin’s family office to open in Singapore
The fact that Singapore has one of the best tax regimes and also is a very politically stable place in this region of the world makes it a great spot for wealth.
Most of the rich in the region will place their cash right here in Singapore.
Either to keep them away from their own government or to ensure that deflation of their home currency will not affect their wealth.
Singapore also has one of the highest concentration of highly qualified financial personnel, attracted to Singapore for this very purpose.
Fund Management is up and coming and will continue to grow as Singapore becomes one of the biggest hubs for wealth in the world.
8. Best Business Ideas to Start in Singapore: Education Technology (EdTech)
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Singaporeans spend a ton of money on their children’s education.
Education technology is definitely a good new direction for anyone who wants to get into the game of education in Singapore.
With Covid-19 causing more difficulties for face to face classes, Edtech is the way to go right now.
If you are able to come up with a good Mobile Application for your business to run anywhere and any time, you will gain that extra edge over your competitors.
We are partners with Originally Us, Singapore’s best Mobile Application Developers, let us know if you need an introduction.
9. Top Business Ideas to Start in Singapore: Live Streaming
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In the generation of Social Media Marketing, Live Streaming on YouTube and Facebook has become so popular.
The live streaming industry has created many great sales people online.
You can sell virtually anything if you are entertaining and fun.
Most end up selling products of basically E-Commerce items.
Live Streaming for sales has become a very popular means of making money especially during the lockdowns in Singapore and around the world.
10. Cool Business Ideas to Start in Singapore: New Age Food Sources
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Why do i say new age, because there are so many ways that you can produce food now.
There are new technology that are coming up from 3D printing food sources such as meats and vegetables.
In Singapore there is a lot of funding going around to secure Singapore’s food sources.
So as a country, we are sure to be keen to work on ensuring that Singapore is able to get some form of food independence.
Singapore is one of the top locations in the world to start up businesses that are innovative and also with financial inclinations.
We at K Cloud Accounting work closely with our customers to deliver high quality accounting and corporate secretarial services.
If you require assistance in other help such as Singapore Corporate Gifts or Business Loan Brokering.
Speak to us now so that we can assist you with any help you need for your business.
10 Business Ideas to Start in Singapore