Business in Singapore has turned many expats into successful entrepreneurs. The investor-friendly regime has ensured that Singapore is fertile for the growth and development of businesses.
Consequently, Singapore witnesses one of the top business destinations around the globe, and many foreigners are starting businesses in Singapore.
With a focused and concerted effort, one can reap matchless benefits. At the same time, it is good to know Singapore’s top 10 successful business ideas.
You can choose the one that suits your business acumen and go ahead with company formation in Singapore.
Which is the best business to start in Singapore? What are some of the most profitable companies in Singapore?
If you’re looking to start a business in Singapore, here are some profitable business ideas in Singapore for your consideration.
Successful Business Ideas in Singapore
1. Construction Sector
Singapore is continuing its growth by establishing infrastructure facilities, skyscrapers, industrial units, etc. You can consider trying your hands in the construction field.
A business in Singapore’s construction sector offers excellent growth prospects if you have enough experience and expertise.
Alternately, the firms offering construction materials also have great scope and are among the best businesses to start in Singapore.
2. E-Commerce Solutions
In the contemporary Singapore Market, E-Commerce solutions are the best among the successful business ideas in Singapore.
Unlike most other business fields, setting up an e-commerce business in Singapore doesn’t require a significant investment.
E-commerce solutions are witnessing exceptional growth, especially after the COVID-19 pandemic.
3. Travel and Tourism
Singapore has already been one of the top tourism destinations in the world. Singapore doesn’t have petroleum reserves and earns money from tourism, investment, business, trade, and other similar activities.
With an eye on increasing tourist footfalls, several additional attractions are frequently added. Hence, you should try your hands at travel and tourism if you wish.
4. Real Estate Agency
The arrival of numerous immigrants with and without family opens another business field; real estate.
Consider starting a business setup in Singapore that provides real estate investment services in commercial, residential, and industrial fields.
5. Health Sector
Singapore provides widespread opportunities for businesses in the health sector. Obtain requisite approvals and go ahead with your business plans to set up a business in the health sector.
Reach out to us if you need support in business setup formalities or guidance on any related issues.
6. Handyman Business
People, companies, and organizations would require technicians, electricians, plumbers, and other technical professionals to maintain, repair or replace items.
They require a person who would carry out the task without their supervision or interference.
Your company can attain optimal growth if you provide a responsible handyman who is qualified, experienced, capable, and reliable.
7. Consultancy Service
Those who have qualifications along with ample experience in a particular field can establish a business providing consultancy service.
Make sure that you have all the approvals before setting up the company and starting business activities.
Talk to us now to have detailed info regarding various consultancy businesses in Singapore and the prerequisites.
8. Beauty Salon
Are you a qualified beautician? Or you have a taste in the field. Then, go for the beauty salon business. The firm can be started at a low investment. It could be expanded subsequently as you grow.
9. Restaurant Business
Food is one of the basic needs. A restaurant that offers quality food will be a success in Singapore.
Since Singapore has numerous expats staying alone, the restaurant business in Singapore has a high probability of success.
10. Cleaning Services
One can form a cleaning company in Singapore without much complication. It could be a residential, commercial, or industrial cleaning service.
An industrial cleaning business may require heavy equipment, a high workforce, and vital infrastructure. Check out the infrastructure, investment, and labor requirements. Select the one that is suitable for you.