Top 5 Online Business Ideas to Set Up and Grow Your Business
Singapore has been a notable choice as one of the best countries in the world for entrepreneurs. This year, it was ranked no. 8 on the list for the most entrepreneur-friendly country as detailed in the 2018 U.S. News & World Report. Singapore was also recognised by The Economist newspaper for its “world’s most tightly packed entrepreneurial ecosystem,” with a start-up environment that fosters growth. However, entrepreneurs do not just thrive. They are exemplary results of hard work, resilience, dedication and risk-taking. With today’s technological era, the digital space has become a new platform for producing notably successful and leading entrepreneurs in the world such as Jack Ma and Mark Zuckerberg.
A standard feature among many entrepreneurs is diversification and foreknowledge. They do not keep all their eggs in one basket, and they like to stay informed with the latest trends and news. If you are keen on becoming an entrepreneur or you are already one and wish to learn more, read on below on the top five online business ideas to get started on your entrepreneurial journey.
The cost of renting space in Singapore’s malls and business centres is at an all-time high. This is disheartening for start-ups as they would require spending substantially on recurring operational costs at the expense of productive activities such as marketing and product development. On the contrary, setting up an online shop attracts significantly lower costs.
You can run the e-shop from a dedicated work space and store your products conveniently in a self-storage in Singapore. With the positive forecasts attributed to e-commerce in Singapore, your business is set to flourish. As one of the Singapore’s cheapest self storage providers, Work+Store offers work and storage units from 88 sqft onwards depending on your business needs, either e-commerce, start-ups or businesses that need to store and carry out order fulfilment duties. Equipped with 24-hour keycard access and aircon in the unit, you can store your merchandises while conducting your business tasks efficiently in the work space.
With the rise in connectivity, digital marketing is also on the rise. The internet continues to be a critical platform for the acquisition of new clients and is gradually conquering markets traditionally held by platforms such as TV and newspapers. You can invest in social media marketing, website development, or content marketing and receive substantial returns in your business. Digital marketing is an excellent way to widen your market reach and a great business idea to start on.
How about having another business within your existing business? Affiliation is all about endorsing other products and businesses that you believe in. The fun part of it is that you can get paid for every item that is sold through your promotional efforts. All you need is a substantial online audience base that listens and trusts your recommendation.
Online Courses and Educational Programs
Many universities and other educational institutions have realised the benefits and underlying profit potential of providing opportunities for remote learning. It does not have to be restricted to only big institutions. You can offer knowledge and advice in specialist areas through an online platform and get paid for it. Start by recording your sessions, put them up as a link on the web where learners can purchase a copy of it. It works as an excellent way to impart knowledge and monetize your expertise.
Digital Content Development Services
For those who are trained or are gifted with a faculty for English, a great business idea to start would be digital content development services. Start small with short articles, resumes and cover letters. As your customer base grows, you can diversify the services you offer and net to more customers through other services such as book writing, copy editing, proofreading, or even simple animation such as videos and Internet memes through free tools online. All you need is a good workspace, a computer, some web presence and a decent knowledge on editing software.
To conclude, online businesses are becoming increasingly popular as they attract a growing number of patrons. The above ideas make the best option for a thriving, successful business. No matter your choice of entrepreneurship, Work+Store offers various sizes of self storage in Singapore that are inclusive of a work space for all your business needs, with flexible lease terms and all-inclusive rental rates. If you wish to find out more about Work+Store and our other storage options, feel free to contact us at +65 6578 9966 or WhatsApp us at +65 8345 9966. Alternatively, you can email us at firstname.lastname@example.org for more information!