At some point, the vision of having ones own business must have crossed many people’s minds, even if it’s just a small scale business. The reasons to start a business can be many, whether due to the want to earn an extra income or to the extent of having a complete paradigm shift to gain a living. While most business concepts start from either a talent, a passion or innovation, the idea of starting a business may be intimidating to some. There is always that fear of shelling out a significant amount of money to invest and risking it without knowing if the business will succeed.
If you are one of those who gets butterflies in your stomachs while thinking of starting a business, these small to no fund ideas may get you started with your entrepreneurial skills and surprise you with the money you will be earning from them. Some on the list may even be done at the comfort of your own home.
7 Small Scale Business Ideas
If you love dogs and the outdoors, this might be a perfect business for you to start. Not only do you get to bond with these adorable animals, but you also get a chance to pump up your daily steps and give your body that dose of exercise that it needs. So it works three ways – earn an income, enjoy good company, and take care of your health. It’s a complete win-win.
Are you a great driver and own a vehicle? Then you might want to try a delivery service business. Show that smile to your clients, as a bit of rapport can get you repeat customers that can get your business going. To get a feel of this business, you might opt to join delivery apps to see how it goes.
Intimate gatherings are starting to be popular these days. If you are a great cook and love experimenting in the kitchen, offering party trays might be an ideal small scale business for you. Many are now more adventurous when it comes to food and are more open to tasting food that has a twist. Remember, people love celebrations, and if you hit that palette, you will find your business growing because of word-of-mouth promotions and recommendations. On the other hand, if you have the capacity to make huge portions, you might also want to look into partnering up with an Event Planner so that you will have a greater chance of landing a job with a more significant market.
Do you possess a niche skill like coding, web developing, graphic designing or maybe fluent in other languages? Many are now looking into learning new things, and now is the best time to share what you know. If you have that passion for teaching your skills to other people, then tutoring is an excellent business for you. Since you are already knowledgeable on the subject you will teach, all you need is your confidence and creativity to teach your students effectively. Also, the upside of this business is that you can tutor online, anywhere, anytime.
E-Commerce has been around for many years now and is growing more popular day by day. Many people nowadays tend to do their shopping online rather than going to the actual stores. If you have a product to sell, may it be your own craft or reselling retail items, starting an e-commerce business and selling online is one of the best ways of reaching your market.
Even big companies have their own digital platform for selling their products as the consumers find it more convenient in buying online. As commerce continues to evolve in the digital arena, placing your products online can open up to a vast market not just locally but internationally as well.
Social Media Management
As the digital world continually develops, there are many platforms that a business can promote and sell its products and services. With this, some companies, even small ones, need people to manage their social visibility. Suppose you are good at managing multiple digital platforms. In that case, you can offer social media management services wherein you create content that will be posted on various social media sites, interact with your audience and perform the maximum engagement to the market.
Knowing how the algorithm works in the sites is also a big plus in managing social media. Furthermore, keeping up with the latest and upcoming trends is also vital in managing social media as this would retain and attract new audiences to the sites.
Food and Beverage Franchise
The food and beverage industry is also starting to evolve in terms of reaching a more comprehensive range of their market. In recent years, the sector faced a lot of challenges in terms of maintaining and gaining customers. With this, it has started to adapt to the changes that are happening. As more people opt to use delivery services to avail of food from their favourite restaurants and food stalls, it is seen that the F&B franchise is continually growing.
If you are detail-oriented and up to learning how to manage a food business, you can look into franchising. Research the brands that will best suit you regarding investment, franchise fees and royalty fees. Franchising is a great way of having your business as you will get support from your franchisor, and you will be able to learn a lot from the process.
These are just some of the small scale business ideas you can start from. If you happen to start thinking of doing your business, there are always a lot of angles to look into. First, always think of something that you like. This will start that spark of motivation in entering a business. Besides, wouldn’t you want a business that you really enjoy having or doing?
Second, keep your motivation. Once you are in the groove of having your business, new ideas and inspiration will grow into you. You can actually start multiple businesses and make a good amount of profits from the comfort of your home.
Additionally, make sure to check if you require to register your business and get the right business licenses before you embark on your entrepreneurial journey.
Lastly, keep in mind that business is a roller coaster ride. There are big dips, high peaks and sometimes even circling around challenges. No matter how familiar you are with the ride, there will always be surprises, good or bad- embrace it, and surely you will be grateful for every bit of it.
Interested in starting a company in Singapore? Contact us today. We also provide additional services to ensure your company remains compliant after incorporation, like company secretary service, nominee director, and registered office address.