The World Bank’s Ease of Doing Business Rank puts Singapore on top as the easiest place in the world to start a business. Because of Singapore’s strategic location, politically stable and business-friendly environment, the Southeast Asian island city-state has attracted foreign investments and business entrepreneurs.
If you are planning to enter the Singapore market, it’s vital to know first the best businesses to start in the Lion City.
In this article, we list down the 4 business ideas you can do in Singapore.
Food Business
Food industry never goes out of business. It’s pretty obvious because there’s a universal need for food. Singapore is widely known as a food paradise with so many food courts and hawker centers scattered across the country. However, this also creates tough competition. To keep up, you need to be innovative so you can offer something that could entice Singaporeans and visitors.
Agriculture
Singapore has never quite been an agricultural nation because of limited arable land. The country largely relies on food imports. This creates an opportunity for business entrepreneurs to enter Singapore’s small agricultural sector. If you are willing to spend on modern technology to boost the production of agricultural products, then you are likely to make huge profits.
Biotechnology
Singapore’s biotechnology sector is believed to be the key driver of its future economy. Therefore, the country is aggressively developing the said sector. The government has been spending a lot on research, development, and recruitment of top international scientists to boost the sector.
Investing in the biotechnology sector in Singapore will make sense, however, this requires solid background knowledge and a huge capital.
Online Marketing
There’s a growing demand for online marketing professionals in Singapore. If you are an experienced content writer, social media marketer, SEO specialist, or web designer, you have room to fill in Singapore. Businesses which attract customers via the Internet are always on the hunt for people who can help them boost their online sales.
Also read: Top Trending Industries in Singapore
