50+ Most Successful Small Business Ideas 2022
Gokul Pradeep
Many of us might have the thought of setting up our own business and being an entrepreneur. But, entrepreneurship is a broad term; and you will have to pick a business ideas that you are passionate about to start your business.
To start with, the key is to come up with brilliant business ideas. This may feel tricky to aspiring entrepreneurs, especially in a world where everyone’s already swooped up every good idea for a business. At the beginning articulating your idea might seem tough but if your idea is good enough then there’s always room to grow over time.
Digital Marketing
If you’ve got the chops in areas of digital marketing, pay-per-click, SEO, social media management, web app development, content management, etc., then this is an excellent startup opportunity, that would give you the freedom to work from home.
According to blogging statistics, tens of thousands of bloggers are creating profitable content on topics like travel, film, lifestyle, home cooking, business, and more. The best part? It doesn’t cost much.
Your first step is to get into the technical side and then understand what your audiences want. Even if this takes some time, on the go, with the combination of revenue streams like affiliate marketing, email subscribers, and blog sponsorship you’ll be able to grow blogs into a six-figure business.
The best business ideas to start in Singapore
1. Consulting services
Singapore is known for its low corporate tax, making it a very popular business hub. Many global firms have set up their offices in the country, creating an opportunity for consultants. As a Singapore citizen, you can help global firms in the following ways:
Since you understand the dynamics of the country, set up a consulting firm to help global firms plan and strategise. The strategies will help them achieve their key performance indicators.
You can offer a broad array of consulting services in Singapore. The good thing is you can work from the comfort of your home. To start the consulting business, follow the steps below:
2. Translation services
Singapore is a centre for trade, and it’s perfect for translation services. With the high number of global businesses, you will find a market for your translation services. A translator in Singapore can make an average monthly income of S$6,880, depending on the job’s complexity.
Register a sole proprietor business if you would like to start a translation business. Translation business does not require any certification. However, it’s best to have the certificates showing your knowledge in multiple languages, as it gives your clients the confidence to trust in your work.
3. Video editing
If you are creative and detail-oriented, consider setting up a video editing business. Companies use video to tell their brand story and market their products. As a result, videos have become an important marketing component for every business.
You will need video software skills, and you can make an average income of S$4,000 per month from the comfort of your home. To start, make an explainer video showing the services you offer and share it on your social media platform.
4. Bookkeeping
If you are experienced and have the expertise, you can earn an average income of S$32 to S$52 per hour from your bookkeeping business. With accounting systems online, you can run your bookkeeping business from the comfort of your home. Bookkeeping is a lucrative field in Singapore, and you can charge per transaction, per hour, or a fixed monthly charge.
To operate a business from home, you must register for the home office scheme and follow the relevant regulations. According to the scheme, you can use part of your residence as an office. You are allowed to hire one to two non-resident employees.
Online business opportunities
5. Blogging
A blogging business involves writing and publishing different media on your website. Blogs are updated frequently, allowing you to interact with the readers. You can make an income on your blog through ad networks, affiliate links, and selling digital products on your blog.
6. Digital marketing
Over 75% of Singaporeans own mobile devices and can access the internet. This makes it increasingly crucial for businesses to develop a digital marketing strategy. Now more than ever, people in Singapore and the world over look for products and services online, making it important for businesses to have an online presence.
As a digital marketer, you can offer content writing, search engine optimisation, and search engine marketing services. You will need to learn the necessary skills and get a digital marketing certification so you can offer the best services. As a digital marketer, you can make up to S$4,500 per month, depending on how much work you handle. Follow the steps below when starting your digital marketing agency:
7. Affiliate marketing
Affiliate marketing involves selling products belonging to another company for a commission. An affiliate marketing business is one of the easiest businesses to start. You identify the product you want to sell or join an affiliate programme and get a commission for every sale you make.
Globally, approximately 81% of companies with an online presence offer affiliate marketing programmes as a way of boosting their sales. To succeed in the affiliate marketing business, follow these steps:
8. E-commerce
The increased cost of marketing and the pandemic has pushed many business owners into e-commerce. It’s a great way to sell your products locally and internationally. Here is how you can start your e-commerce business:
9. Social media management
A social media management business is easy to start as you don’t require any capital. Design your social media management packages with appropriate pricing, and start advertising on your platforms. It helps to have a social media management certification to increase confidence and trust.
About the Author
Moubin Ghafoory
Moubin Ghafoory is a freelance content writer who formerly worked for a prominent digital marketing firm. Writing is his profession and his passion, and in his off time, he studies and practices writing fiction. He lives in Northern Virginia and drinks coffee by the gallon.
By Moubin Ghafoory
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Sources:
https://www.neoito.com/blog/most-successful-small-business-ideas/
https://www.singsaver.com.sg/blog/business-ideas-singapore-to-start
https://www.gobankingrates.com/money/entrepreneur/small-profitable-business-ideas/