Singapore Company Incorporation with Paul Hype Page
Company Registration at Paul Hype Page Singapore

Starting an online business in Singapore is becoming lucrative day-in-day-out. As the price of rent and the total cost of maintaining a business in Singapore are continually escalating, many entrepreneurs and businessmen are shifting their business online. Therefore, starting an online business in Singapore is a good idea as it enables the business owners to significantly cut down their expenses and increase sales and profits.

The benefits of starting an online business in Singapore

Among the merits of starting an online business in Singapore are:

  • Ability to Capture a Large Market Base
    Unlike the fixed location business that is limited to a specific area, taking your business online will expose you to a relatively large number of people and expand your business base.
    E-commerce or starting an online business in Singapore will imply that your business is available to everyone as long as you maximize its marketing strategies. There is no limit to how many people can access an online store as long as they can access the internet and are aware of your business.
    Therefore, once you have taken your business online and implement essential strategies to reach people, then you are sorted. Singapore has excellent internet penetration. Apparently, the internet penetration rate in Singapore is at 91%.

  • Cost Saving
    The cost of renting a business space is not cheap in Singapore. Therefore, if you resort to starting an online business in Singapore, you will save a significant amount of money you could have otherwise paid as a business space rent. Besides, you will not have to pay for additional security services for large stores or branches that might be scattered at various places. Other expenses, like cleaning services, internet fees, and other miscellaneous expenses, are also reduced when you start an online business in Singapore. Saving on the costs of expenses will generally boost your income earnings.

  • Global Market Penetration
    Starting an online business in Singapore will allow you not only to sell within Singapore but also capture a global market. Getting into the online business makes you at the same level as the giant e-commerce stores like Amazon, Alibaba.com, and other international e-commerce businesses. The primary advantage of getting into an international market is to help you expand your market base and thus increase your sales. The increase in sales volume will reciprocate in the amount of earning.

  • Flexibility
    Starting an online business in Singapore, just like at any place on earth, will allow you to have 24 hours presence. Your online presence will allow your buyers and potential clients to shop at their comfort without worrying about time. Besides, time zones are different, and various parts of the continent will have a chance to shop at the time they are comfortable. A flexible business allows you to reach people who are located at places you might not be able to reach if you were to do your business physically.

  • Freedom
    Imagine not having to report to an office daily or your store, yet you are managing your business. That is one of the perks of starting an online business in Singapore. As long as you have the necessary equipment, you can choose to operate your business from anywhere. The fixed 9-5 job schedule is not only rigid but also mind-numbing. Changing your work environment and working under desirable conditions will positively influence your productivity and, thus, your business’s general performance. You will not have fixed time restrictions, and hence you only work when you are comfortable or when you have the morale. With the available freedom accompanying starting an online in Singapore, you can maximize your productivity if you implement proper strategic skills.

What do I need to know before starting an online business in Singapore?

  1. Competitive Market Structure
    You should note that the online market is highly competitive. The underlying reason that leads people choose to start an online business in Singapore is the high internet penetration rate in the region. Besides, the COVID-19 pandemic pushed many business owners to change their business tactics with a relatively larger number starting online businesses in Singapore. However, that should not scare you away. There is a space for everyone to operate an online business in Singapore provided that the services that you are providing are essential and solving immediate problems.
    The other way that you can be sure that you understand the market well is by researching the possible threats and weaknesses of starting the online business in Singapore. Proper planning and strategies will also help you to boost your business performance and managerial skills.
  2. Business Registration
    Are you convinced that you have researched all the essential information for starting an online business in Singapore and gained a sufficient understanding of every market dynamic, including potential consumers? If so, you can now proceed to incorporate your business in Singapore. All businesses need to be incorporated with the registrar of companies. However, the process of starting an online business in Singapore is easier as there are no involving procedures. The incorporation process of businesses in Singapore will require you to avail of all the necessary documents and payments for it to be successful.
    Nonetheless, you should not worry as Paul Hype Page will guarantee you the successful incorporation of your Singapore online business.
  3. Licensing and Business Permits
    All businesses in Singapore should have licenses and business permits for them to operate. Therefore, before starting an online business in Singapore, you should ensure that you have in mind all the requirements and legal procedures to obtain a business license or permits. The permits or licenses will vary depending on the business that you are operating. Failure to comply with the licensing requirements will lead to fines or jail terms. Starting an online business in Singapore that deals with the supply of goods and services will attract Goods and Services Tax (GST). However, the taxation rate of GST is relatively lower as it is at 7%.
  4. Creating and Organizing your website
    Website creation and organization should be among the first things you need to consider when starting an online business in Singapore. You should have a simple website that your potential clients can easily navigate. The nature and simplicity of your website will have a positive impact on your business, and it also has the potential of increasing the number of your shoppers. You can choose to design your website by yourself if you have the skill, or you can hire an expert to design and create your website. Remember that you will have to host your website.
Want to Start business in Singapore
Want to Start business in Singapore

What are some of the online businesses to start in Singapore?

There are numerous online business ideas in Singapore that one can start.

  1. Affiliate marketing business
    In affiliate marketing, you earn by getting a commission when you help someone else promote their goods or services. If someone purchases an item or service from your traffic, you get paid. Some of the sites where you can start affiliate marketing business are Amazon, ClickBank, JvZoo, iherb, and market health.

  2. Sales Company/ online store
    Irrespective of goods, products, or services that you are willing to sell, you can always have a simple website and promote your goods or services. You will market the business and wait for orders then make deliveries of the products.

  3. Tutoring
    Professional tutors can also expand their skills online. There are many learners are seeking tutors online. For this reason, creating a website that is geared towards offering services can help you earn additional income.

  4. Copywriting
    If you can create excellent content by communicating ideas and passing information, you can venture into the copywriting business. Many companies seek such services, like creating sales copy, advertisements, and compelling content for websites.
    Other online business ideas that you can start are social media marketing, stock trading, internet security consulting, blogging, consultant services, and others.
What are some of the online businesses to start in SG

Starting an Online Business in Singapore FAQs

Why should I consider starting an online business in Singapore?2020-11-03T10:00:41+08:00

Starting an online business in Singapore can help in increasing your market base. It will, in turn, increase your income or profit. 

Is the process of starting an online business in Singapore complicated?2020-11-03T10:01:15+08:00

Starting an online business in Singapore is simple and straightforward. After doing market research, you incorporate your company, build your website, then do the business. 

 

What can I sell online in Singapore?2020-11-03T10:01:29+08:00

There are numerous products that you can sell online in Singapore. Electronics, furniture, fashion, and others are the popular choices of many entrepreneurs. 

Which products sell the most online in Singapore?2020-11-03T10:01:39+08:00

Fashion, technology products, second-hand sales, books, and other educational courses sell the most online in Singapore. 

2021-01-27T16:32:12+08:00November 29, 2019|2 Comments

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2 Comments

  1. Keerthi U T December 6, 2019 at 11:58 pm - Reply

    I wants to start online business. Please advise. Thanks

    • Kumaran Tiwiyah December 12, 2019 at 5:14 pm - Reply

      Hello Keerthi,

      If you would like to start an online business in Singapore, you will need it to be incorporated with ACRA’s approval just as is the case for any offline business.

      Please contact us at any time for further information on incorporation Singapore.

      Thank you.
      Paul

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