Singapore is no longer just a simple tourist and hospitality hub anymore; it happens to be an up and coming global business hub for entrepreneurs round the globe. The diverse locales, multicultural environment and a thriving business atmosphere calls for entrepreneurs round the globe to establish their business ties here in the country.
The country obviously has something for everyone looking forward to starting a business!
You can yield something of value every single time you decide to transact with the country. In fact, Singapore has recently been lauded as the best value city for global entrepreneurs.
The country is no alien to conducive business factors – a robust and steady legal structure, a strong and reliable financial structure, free market economy, efficient infrastructure, competent workforce, and a strategic geographical local.
Singapore is definitely the investment hub you should look forward to.
Starting a business in Singapore is pretty easy. What is difficult is deciding what kind of business you are going to start.
Here are top business ideas to begin within Singapore.
Tourism
Singapore is known for its beautiful locales and travelers. In fact, the country is loaded with people ages 15 and above who invest in traveling every single year.
It definitely makes the travel and tourism industry a lucrative one.
As a foreign entrepreneur, looking forward to setting up a company in the Singapore, travel and tourism is the industry you definitely would want to hit.
But you cannot go about opening yet another travel agency or an online hotel and travel booking website in the country. The new and more edgy way to setting up a travel and tourism business is to tap on the market with a travel activity organization business. Businesses like these are a hit with the masses because they provide people with touring and activities – the experience of looking around the country as a local, all under one roof.
The business idea, added with customized travelling options and deals is a win win situation for you and your potential customers.
The key is to localise your concept!
Fashion and retail
Singapore is also famous for being a fashion capital. New York, Milan and Paris have an upcoming competition by fashion-forward and snazzy bunch of people in the country.
Everyone loves to keep up with all the latest trends in the country; everyone loves to keep their best foot forward and being voguish at all times.
International names like Aldo, Levis, H&M and Zara are already well-established, esteemed fashion names in the country, tapping on profits.
Not just locals, Singapore is also a hub for tourists all across the globe.
This is when your business idea enters!
Starting a fashion company or a fashion retail business in Singapore is therefore something you should look forward to. You can reasonably attain your chunk of profits too.
E-commerce business
E-commerce is not just the favorite of budding entrepreneurs in Singapore, but is also the favorite of the whole world. There is a mushrooming growth of thousands of E-commerce businesses all around the globe, which is why E-commerce is your top business choice in Singapore.
It takes absolutely minimal capital to begin with, you can transact your business with customers all across the globe and earn a humongous profit in no time.
E-commerce is your one stop solution to being a success overnight.
Information Technology
The advent of technology, AI and IoT has brought a new edge to the IT industry. It is gaining a better momentum, and booming more now than ever before.
Today, everything – from our work to our personal lives, everything depends on IT. The convenience it can bring to our lies is something to look forward to. Which is why IT is another top business choice in Singapore.
Singapore and modern technology go hand-in-hand. Most successful IT businesses and IT firms are well-established in the country, only yours is awaiting now!
Yes, it comes with its challenges but starting a business in Singapore is easy! Your business will thank you later.
