3 Low-Cost Business Ideas for Budding Entrepreneurs in Singapore

singapore company registration
Singapore Business Incorporation

Do you want to ignite the entrepreneurial spirit within you by venturing into company incorporation Singapore? Is tight budget deterring you to pave the way for your entrepreneurial dream? A robust business idea which is lower on the cost side may help you triumph over the rigors of the shoe-string budget. Many young and smart entrepreneurs have created their niche in Singapore market by implementing low-cost business ideas at the time of bootstrapping.

There is a popular belief that incorporating a business needs a hefty amount of investment. This is not applicable for all types of businesses. You can prove this old belief wrong as low-cost business ideas will help you excel in your endeavor by spending a small amount of money. It is worth noting that, you can invest as low as S$1 while incorporating a company in Singapore, as per the requirements of ACRA (Accounting & Corporate Regulatory Authority). Thereby, all you need are a smart business plan, a low-cost idea, and a small capital to become an entrepreneur. Nevertheless, you must fulfill some compliance requirements of ACRA at the time of Singapore company registration.

This blog will provide three low-cost business ideas which will serve as the entrepreneurial ladders for many aspirants.

Cleaning Business:

Cleaning business requires minimal capital to be invested in cleaning equipment and professionals. For opening a cleaning business in Singapore, you do not necessarily require to get trained through any professional course. Similarly, having a unique skill to manage this kind of business is not needed. You can build a profitable business that generates high revenue in a short span of time.

The cleaning business is highly flexible in nature, and it can be operated on a part-time or full-time basis either from home or commercial space. Low-cost investment and flexibility give the cleaning industry a strong appeal to a wide range of entrepreneur aspirants who are running low on capital.

Child Care Service:

Hectic lifestyles and rising need for double income have opened up a market for child care service in Singapore. It is a lucrative option as it necessitates a small amount of investment. What drives the beginners to start this business is that they can start it from home. On top of it, you do not need to make a huge investment in infrastructure. You would have to make a few investment on purchasing books, toys, and games for the toddlers. Additionally, you would have to redesign your home to make it child-friendly and appealing. The amount of Return-On-Investment (ROI) in child-care business is impressive.

Bookkeeping Business:

If you are a number lover, good observant, and honest person, a bookkeeping business is an ideal match for you. Most of the businesses do not like to do the mundane task of record-keeping of their financial transactions. The good news is that a bookkeeping firm or professional bookkeepers can help them out. Luckily, you could be one of those who is providing record-keeping services to the businesses.

Independent firms and bookkeepers are in demand even during the recession period. And, you just required to invest is to sell your skill. Hence, an independent bookkeeper can grow its business with zero investment.

Even though the ideas mentioned above require a trivial amount of investment, you must put some extra efforts and time in the process of company incorporation Singapore and the business operation. Your hard work and valuable efforts will be paid off in the long run.

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