Online businesses in Singapore have been expanding at an impressive rate. If one wishes to start an online business in Singapore, certain steps must first be taken. Research must be conducted and a plan must be formulated. After this, incorporation of the online business is required.
However, in Singapore, just as in any other country, some online businesses are easier to enter than others.
In reselling, which is also known as the white-label industry, the provider of the service or seller of the product is not behind the main operation or production. These are done by a different company. The reselling business allows for a higher profit margin for sellers, as they are able to choose their own prices. Among the services offered by resellers include pay-per-click advertising, social media campaign management, and search engine optimization (SEO).
One of the more successful reselling companies is SEO Reseller. SEO Reseller’s adherence to industry best practices, evolving and dynamic environments, and emphases on customer focus, transparency, and support have allowed it to establish over 400 digital agencies in 12 countries, bringing in over 386 million visitors to clients’ website annually.
2) Affiliate Marketing
Affiliate marketers help promote another company’s services or products. They receive a suitable commission after sales are made due to their marketing. Most affiliate marketers share news about products through social media. Some also attempt to draw attention to the products they market through product reviews on their website. A competent affiliate marketer must be able to accurately identify the target audience of a product, as well as write copy which is compelling enough to cause people to want to buy what is being marketed.
Matuloo, one of the world’s leading affiliate marketers, has been in the industry for almost two decades. His adaptability and flexibility have helped him turn a sizeable profit through his websites and SEO.
3) Online Travel Agencies
Due to the difficulties sometimes associated with making travel plans, some travelers prefer to use online travel agents to ease their burden. In Singapore, a travel agency licence is required to become a travel agent. This licence requires proper company registration, paid-up capital of at least S$100,000, a company website, a physical office with a signboard, and the selection of a key executive. The company’s executive and managerial appointments must also be deemed to be of good moral character.
Expedia is among the most well-known online travel agencies. Established in 1996, Expedia broke away from Microsoft in 2001. Today, Expedia is regarded as one of the most admired and best-managed companies in any field.
4) Medical Transcription
The job of medical transcriptionist is one of the few that can be done online. A medical transcriptionist listens to recorded medical dictation, then transcribes it. Medical transcription also involves editing documents created with certain computer software programs. One of the main advantages of starting a medical transcription business is the fact that startup costs are relatively low when compared to other online businesses. A successful medical transcriptionist must have good grammar and research skills, while also possessing a functional understanding of various medical terms.
Datamatrix Medical has emerged as a prominent medical transcription company. The company prides itself on being highly knowledgeable about electronic health record (EHR) services and using technological advances to tailor its services to match each specific EHR system. Today, Datamatrix Medical’s services are used by over 250 medical practices and hospitals across the US.
5) Kindle Direct Publishing
Kindle Direct Publishing (KDP) was launched by Amazon in 2007. KDP allows clients to publish books on Kindle and Amazon. These books can be purchased by any online buyer. KDP is free to join, and Amazon does not charge printing costs unless someone orders a physical copy of the book. Amazon’s rising influence has increased KDP’s inherent potential. KDP is an easy online business to enter because of the lack of startup costs and the fact that a website is not required before entry. People who succeed in KDP may either write their own books or get others to write for them. Those who write their own books must have good writing and proofreading skills, while those who hire writers require a suitable budget.
Paranormal fiction author Amanda Hocking rose to international recognition after self-publishing on Kindle. Just a few days after publishing her novel My Blood Approves on Kindle, its sales skyrocketed. Her novel became so profitable that she quit her previous job and became a full-time writer.