2021 has been a mixed year for businesses. Many companies have been incorporated – some have seen tremendous growth while others have experienced great decline due to the nature of changing environments and consumers’ behaviours. Let’s take a look at the fastest growing industries and declining sectors in Singapore!
Business Opportunities in Singapore
Singapore is widely known as an economic powerhouse in the region and a centralised hub for businesses tapping into the Asian market. Although the nation has been impacted by the pandemic, we’re excited for what’s to come – especially in the fastest growing industries, creating business opportunities accelerated by digitalisation.
Entrepreneurs and investors can tap into these industries with high business potential when deciding to incorporate a company in Singapore.
Growing Industries in Singapore
The pandemic has brought about the need for digitalisation and putting the focus on oneself. As such, the fastest growing industries in Singapore spark new business opportunities in these spaces.
Robotics
With the advent of 5G, robotics will transform the way we do things or operate a business. Service robots are already being deployed across retail and F&B establishments to power business efficiency and productivity.
- Deep Tech
Artificial intelligence lauded as the next big thing, and right so as it is a key component in Deep Tech. Sectors who are leveraging on Deep Tech includes Med Tech, Autonomous Vehicles, Life Sciences, and many more.
- Telehealth Services
The power of technology has driven the adoption of telehealth services, especially in the Covid-19 pandemic. Such services not only help to minimise direct contact between the patient and doctor, but also offer an alternative solution to those who seek medical attention.
- Biohacking
Ever heard of keto diet? That’s one way of biohacking to improve your performance and health. The target audience for such an industry is for busy urban workers, who are time-starved but yet are looking at ways to enhance their physical and mental well-being.
- Plant-based Products
Impossible burgers are now of one the more popular burgers in Singapore, and that is largely thanks to the trend of eating clean and to reduce our meat intake. These trends are predicted to stay for a long time, as people become more conscious of what they eat and the impact on the environment.
eSports
As we spent more time at home, more people are looking into ways for entertainment – eSports is one of them. This trend is set to grow in Singapore and the region, with more gamers expected to push the industry’s revenue in years to come.
- Pet Wearables
Getting a pet during the lockdown has been a common sight. People are becoming more interested in having pets, and pampering them. This is great for the pet wearables industry, as pets’ well-being is a top concern for pet owners.
- Manufacturing
Singapore’s manufacturing industry saw the biggest growth in 2020 with a growth rate of 7.3%. This tremendous growth in the industry is attributed to the development of biomedical manufacturing, electronics, and precision engineering clusters.
- Finance & Insurance
The 2nd biggest growth by industry in Singapore in 2020 is the finance and insurance industry at 5%. When the pandemic hit the nation, the population started to put a stronger focus on getting themselves covered in terms of insurance and their monetary wealth, especially amidst the uncertainty and market downturn.
- Healthy Junk Food
Eating healthy has been a growing trend for the past few years and individuals are craving for new innovations when it comes to healthy junk food. There is a strong market for low calorie snacks with health-conscious individuals leading the pack for such products.
Key Industries in Decline
While the pandemic has brought in new business opportunities for the growing industries above, some are victims of this situation. According to the Economic Survey of Singapore 2020 by the Ministry of Trade and Industry, the industries that are struggling include:
- Construction
- Accommodation
- Transportation & Storage
- F&B Services
- Retail Trade
- Administrative & Support
- Real Estate
- Other Service Industries
Starting A Business in Singapore
Top business and entrepreneurial opportunities are still plentiful in Singapore despite the pandemic. Key industries that have strong business potential thanks to the changing habits of consumers are fruitful for entrepreneurs or businesses to tap into.
Thinking of setting up your company in Singapore? Reach out to us for free consultation on company incorporation and other corporate services like visa application today!
FAQs
- Create a plan that is in accordance with your business idea.
- Work on your capital and how to finance the entire project from incorporation to management.
- Create your website,
- decide on the business structure,
- consult on the tax obligations, and
- finally register your office address.
This guide, will help to you about how to register a company in Singapore
With the growing technology, there is an increase in demand for cleaning services in Singapore. The services are required in apartments, offices, and shops. Others include private tuition, events planner, and photography.
There is quite a number. However, it would be best if you focused on online business:
- online marketing,
- blogging, and
- freelancing.
If capital is not a problem, then electronics will definitely do wonders for you. It is one of the largest and booming sectors of the manufacturing industry in Singapore.
Professional services like accounting, bookkeeping, and freelancing require little to zero capital to start.
Hello, Myself Omvir Singh from India
I just want to start a new business of export. I am working on some ideas like organic food, cashew, Indian spices and handicraft to export. And I am looking to cater Singapore, can you please guide me which business opportunity is good in Singapore among above mentioned business.
Looking for your some positive reply
Note- Even I don’t know whether I am asking this question to right person or not but please guide me
I am desperate to work for Singapore
Regards
Omvir Singh
Hello Omvir,
We understand that you have many ideas for starting a business in Singapore. They are all viable options. However, we apologize because we cannot outright tell you which of your suggestions provides the most business opportunities. This is because the market in Singapore is dynamic; its demands and desires are always changing with the times.
In any case, you clearly seem interested in conducting business activities in Singapore. Therefore, for people like you, we offer a package which costs $3,155. It will allow you to move to Singapore by way of an Employment Pass and have your company established there.
For further information on any of these matters, please contact us.
Thank you.
Paul
i am looking to get a start for our concern in Singapore can you give a quote for in corporation in Singapore include employee pass
Hello Kandasamy,
Our incorporation package which includes an Employment Pass will cost you S$3,155. It includes company registration, a registration fee to be paid to ACRA, the appointment of a company secretary and nominee director, an Employment Pass application, and a registered office address.
Please contact us for further information.
Thank you.
Paul
Tell me what is the disadvantages doing business there.?
Tell me how much is the taxes for big business.?
Tell me how easy or hard to move my income later to my country any time I want.?
Tell me what are the proof of all that.?
Dear Meen
The challenges doing business in Singapore are as follows:
1) High rental and manpower cost are normally a big barriers for Singapore businesses start up
2) Our Singapore tax system is one tier and uniform for all types of private limited company and there is no difference in term of tax brackets based on sales or paid up capital.
Company Tax rate is 17%
See link for detail: https://www.paulhypepage.com/singapore-income-tax/
3) Singapore banking system does not has any restriction for you to remit fund overseas. Singapore tax office – IRAS does not tax on profit or dividend paid back to shareholder.
After the company is taxed on profits, there is no more further taxation apply.
4) You can visit government website – http://www.iras.gov.sg for details
Paul Hype Page
I am a Saudi national interested on doing business there .
Can I own the business 100% .?
Thanks.
Dear Meem
Accordingly to Singapore company law , any person or corporation regardless of overseas or local can own 100% of a Singapore company.
There one thing you need to take note is that at any point in time, a Singapore Company must have a local resident director on the company’s board of director.
A local resident director is defined as someone who has the rights or is staying in Singapore, normally they are
– Singapore Citizen
– Singapore Permanent resident visa holder
– Singapore Employment Pass Holder
– Singapore Dependent Pass holder who has MOM letter of consent to work for the company
– Singapore Entrepass Pass holder
You can check government website for Singapore company Law : https://sso.agc.gov.sg/Act/CoA1967
Paul Hype Page & Co
Are you still interested?
Dear Meem,
It is best if we get in touch so we can better understand your situation.
Please contact us for more information.
Thank you!
Best regards,
Paul
Hi,I am a Ghanaian who is looking forward to dealing in general goods and export from Singapore to Ghana.Kindly advise on what i need and the charges for your services.
Also i have some friends who are looking forward to working in Singapore and wants to know the available jobs on of offer for both skilled and unskilled labour as well as graduates.
Dear Edmund,
You can consider our all in one package of Employment pass with Incorporate to start your company and get the right work visa to work in Singapore.
As for job applicants for your friends, they can refer to Job DB or Jobstreet Singapore.
Cheers
Paul
i am wanting to invest in a business in Singapore, with the aim of relocating from South Africa at some point in time, can you assist.
Dear Pulen,
We would need more information regarding the nature of the business you plan to be involved in, so we are able to better advise you further. Do drop us an email at paulhypepage@php-cpa.com.sg to discuss further.
Best Regards,
Paul
we are doing textile retailers in past 75years.(in India. Tamilnadu). I wish to setup a shop for my son. He completed his graduation. And he studied his higer studies in England. How is opportunity to do clothing and garments. Please give me some suggestions.
Dear Pooventhan,
We would recommend our all-in-one Incorporation with Employment Pass package as the quickest and most efficient way to set up a successful business here. Do drop us an email at aulhypepage@php-cpa.com.sg to set up an appointment.
Best Regards,
Paul
Am a private investor and am looking forward to a business in singapore to invest in good faith , any clue please contact me on
sabadobernadoloan@outlook.com
Thanks
Mr Sabado.
Dear Mr Sabado,
Thank you for reaching out to us. We would be happy to help you with your request. We would suggest our all-in-one Incorporation with Employment Pass as your best solution for quickly starting up a business in Singapore. We would like to have a further discussion with you on what you had in mind so we would be better able to advise you on the next steps.
Do drop us an email at paulhypepage@php-cpa.com.sg to make an appointment. We look forward to hearing from you.
Best Regards,
Paul
hi there,
I am a Filipina, i’m interested to open up a business and move with my kids in Singapore. Do you have any suggestions on what is the best ideas in putting up a business in Singapore? Hoping for your reply.
Thanks
Maine
Dear Sharmaine,
Absolutely! We can help you establish a business quickly and efficiently with our Incorporation with Employment all-in-one package. You’ll be ready to get your businiess started in no time.
Do drop us an email at paulhypepage@php-cpa.com.sg and let’s talk more.
Best Regards,
Paul
Sir,
I am an Indian and having 16-year experience of petroleum product retail business. Is there any chance of start petroleum retail business in Singapore?. Kindly guide me.
Dear Salai,
There are many business opportunities available in Singapore, and our Incorporation with Employment all-in-one package is the fastest and best option for entrepreneurs to get started with a successful business.
Do drop us an email at paulhypepage@php-cpa.com.sg so we can help you get started and discuss your options.
Bes Regards,
Paul
Dear paul, this is saravanan im in dp. i wish to start a small restaruant or food stall.kindly reply if im eligeble to takeover a food stall.thanks
Dear Saravanan,
In order to better advise you on the matter, we would need more details regarding your situation and what your business plans involve.
Do drop us an email at paulhypepage@php-cpa.com.sg . Have a great day ahead.
Bes Regards,
Paul
Hi, I am about to create a company in Singapore to be the hub for a startup venture throughout asia. I would not be living in Singapore nor would I have employees in Singapore. I do not want to give anyone ownership in the company other than the mother branch in the USA (80% ownership). What is the best type of company I can set up (I assume, PLC) but would like to retain full directorship. How can this be done
thank you
regards
Robert Bellavance
Dear Robert,
The best solution for your situation will be to incorporate a company in Singapore with nominee director. This package allows you to have 100% ownership and open a Singapore bank account if needed. Furthermore, our online incorporation system allows you to incorporate without leaving your home. Do give us a call to arrange for an online meeting.
Looking forward to serving you.
Best Regards,
Paul
Hiii
I’m 31 years old Indian citizen and wish to start business in Singapore like 7-Eleven or like $store.
I heard from people and read it on some websites that I need one local partner but I don’t have, so how it will be possible for me to start business ?
I having capital or I can invest around 200 thousand sg$.
In feb 2011 I came to SG on tourist visa and I got the job in food manufacturing company as a production supervisor and worked for this company until oct-2015.
Please suggest me what should I do
Eagerly waiting for your reply
Thanks…
Dear Archit,
We recommend that you consider our incorporation with nominee director services, and we will be able to assist with the incorporation procedures as well as the employment pass application (if required). We would love to hear more about your company so we can better advise you on what to do. Do drop us an email at paulhypepage@php-cpa.com.sg for more details and charges.
Best Regards,
Paul
hii,
Iam an Indian national working in Saudiarabia,aged 58 years,as a part of my retirement plan from here,i have established a trading company in UAE.This company deals in importing and exporting of plastic raw materials,this company has just been registered and about to start operations.At the same time ,i feel that starting a trading and export import business in singapore will help my over all business.Can you advice me the way i can make this come true?,What will be the procedures and approximate investment involved,can i get multiple entry visa?
Thanking you,Viswanath..
Dear Viswanath,
The best solution for your situation will be to incorporate a company in Singapore with nominee director and you can go for employment pass later after the company is up and running with good sales records. We will email you shortly for your consideration.
Paul
Hi,Holding DP.
Can i start any business here(Singapore)
If yes what type of Business?
Please let me know….
Thanks
Dear Kiran,
You can obtain an LOC (Letter of Consent) to work in Singapore. DO contact us for more information.
Paul
Hi Paul.
I am a US citizen willing to export medical/dental supplies, technology and services to Singapore.
I’m inquiring about the legal process and other helpful resources…
Kind regards,
Kalana Starke
HI Kalana,
Our Corporate Specialist will drop you an email with more details
Paul
Hello
I am Pranab Kumar Saha Bangladeshi Citizen .and i want to start business in Singapore. so please guide me.
Thanks
Dear Pranab,
There are a few different type of setups you can consider for your company in Singapore depending on your business model. If you are considering to relocate to Singapore, we will recommend setting up a Private Limited company with Employment pass. We will email you with more details.
Paul
Dear Paul.
Greetings of the day.
I am an Indian, i am interested in formation of company with an objectives of construction, Finance and Investments with some suitable ancillary objects in Singapore. Please kindly revert me the procedure and required investment for the above purpose.
Thanks & Regards
Ahmed
Dear Ahmed,
To start up, you will need to incorporate a company in Singapore. Paul Hype Page offers different company incorporation with work pass application package that will suits your business needs. We will email you with more details
Paul
Hello,
I am a graduate in Entrepreneurship from the best business school of Pakistan. Currently I am operating real state and oil business in Pakistan which is owned by my father. I look forward to expand my horizon and for this purpose I am visiting Singapore in early January to sense some business opportunities.
I would be glad if I can set up an appointment with you in Singapore so that I can discuss the opportunities between both the countries in more details. Thank-you.
Osama.
Dear Osama,
Thanks for your interest.
Understand that you would like to set up a new company in Singapore as an expansion to your father’s real estate and oil business in Pakistan. You may make an appointment with us from the link below.
https://www.paulhypepage.com/book-now/ and book an appointment under Justin or Eric.
We look forward to discussing with you soon.
Thanks,
Paul
Hi,
I am Indian PR and i want to start business here. so please guide me.
Hi Rajan,
Thanks for your inquiry.
Yes, we can help. We’d like to ask you some more questions about your business plan so that we can assist you better. We will be in touch with you on separate email shortly.
Thanks,
Paul
Hi Paul.
I am a brazilian citizen willing to export brazilian products to Singapore.
Kind regards,
Samuel da Rocha
Hi Samuel,
Thanks for your interest. We can help you to set up a trading company in Singapore, then you can choose either to apply for your employment pass or appoint a nominee director.
We can discuss more about your business plan via email. We will send you an introduction email shortly.
Thank you,
Paul
Der sir.I m srilanka.I have a above 10 years real estate work experience. I m now 35 years old.pl.tell me can I start a my business in Singapore and can I get t a licean of real estate.
Dear Daglas,
Yes you can start your own business in Singapore and we can help you on that. Our representative will be in touch with you shortly.
Paul
Dear , Sir,
I am interested to start business in Singapore
, can you inform us ? Which products/projects of business can start in Singapore these products/projects would be fast viable & fisible..
Jayesh Hirpara
Dear Jayeh,
There are many good business opportunities in Singapore. We usually advice our client to continue a business you are familiar with and related to if possible. Different kind of business set up depends on the kind of work visa required if any and services offered. Do contact us for a discussion to setup your company.
Paul
Please inform us , which sectors/business very big opportunity in in Singapore…
Thanks.
Jayesh
Dear Sir,
I want to start a retail unit (groceries and textiles). Is it permitted in Singapore ? Please advise. I confirmed to start a business in Singapore with my family.
Thanks and regards,
M.Dhanapandi
Dear Dhanapandi,
There are many good business opportunities you can venture in Singapore and retailing is always a vibrate market here. Whats is important is that you must have a good and right setup of your company to ensure hassle free EP application as well as DP pass for your family.
Please contact our corporate specialist for an appointment to discuss in details.
Paul
Sir, I am a Nigerian with keen interest to do business in Singapore. I m into Bitter kola. In a Small scale, can you extend your helping hands by linking me out there? Thanks
Dear Yemi,
You can start with setting up a private limited company in Singapore. We will be please to assist you further. My colleague will be emailing you shortly with more incorporation details.
Paul
Hi,
I am interested in exporting castings & forging to Singapore. Please give buyers & companies for the same .
Regards
Hi,
I have a construction company here in Pakistan working since 1997. I am 38 years old and and BCS. I intend to start a new business ie construction ,importing cars and vehicles from Japan etc.
Kindly help me out moving in right direction without any loss or waste of time.
Dear Saddaaf,
It will depends on your business model and if you will be relocated to Singapore for us to guide you the right kind of company setup that will be best suitable for you to incorporate in Singapore.
My consultant will email you with more details.
Thank you.
Paul
I am an Indian citizens. I want to start import & export with Singapore and Malaysia. Can u help me
Dear Muru,
My colleagues will email you with more details shortly
Thank you
Paul
Hello Sir,
I am an Indian citizen and my age is 32 years. I did MBA(Business Administration) from United Kingdom in 2011, before that I did LL.B. from top Indian University in 2008. I visited Singapore a lot of time on tourist visas. I have work experience of approximately 3 years as a Business Administrator in an Indian pvt. company in India. I am also a registered lawyer in India, but I prefered my Administration Job. I want to start a business in Singapore with small investments or interesed to get a job in Singapore.
Can I get any work visa or employment pass of Singapore? How much minimum investment is needed to start business in Singapore? I am interesed in promotion of tourism industry business or job.
Thanks
Best regards,
Kultar Singh
Dear Kultar,
The most recommended way to setting up your business in Singapore is thru Paul Hype Paul Solution – Singapore Incorporation with Employment Pass.
Do book an appointment with our incorporation team to understand better.
Looking forward to welcoming you to Singapore!
Paul
Hi my name is Harika,
My husband want to start a business in Singapore.he can invest 500000 in Indian rupee. Can we start with this amount or we want more money to invest
Dear Harika,
The start-up capital of a company in Singapore can be as little as SGD2, what’s more important is your type of business and mode of operation.
My incorporation team will contact you shortly to give you more information.
Paul
hi
i am indian national
want to start a backpacker hotel in singapore and also want to move with family. i can invest above 70,000 singpore dollars. please tell me what is the procedure .
Dear Joga,
You will need to incorporate a company in Singapore and we will suggest you apply for Employment pass, once your employment pass is approved, you will be able to apply for dependent pass for your family. My colleague will email you the detail procedures and step for your consideration.
cheers
Paul
Hy I am interest in business inSingapore pls give some detail how invest in Singapore,how much fund require,visa process,time limit.I am indian and my own business of bulk vegetable trade & distribution.
Hi Vijay,
We can assist you from setting up your company to applying work passes as well as registered office address and work space to get you started with your business. Do give us a call to arrange for a meeting.
Looking forward to serve you.
Sincerely
Paul
Dear Sir,
I am about to start working in Singapore and waiting for my EP. My husband suppose to receive DP as my legal spouse. He is specialist of Iridology, Chiropractic and Acupuncture. He is Belgian citizen. My question is: Can he open a private practice/studio in Singapore and what are the requirements for this?
Thanks in advance,
B.Panova
Dear Bianka,
Your husband can apply LOC to start working in the company but as a DP, he can not be the director of the company. Do book an appointment with us for a detail discussion.
Best Regards
Paul
I am a citizen of India and aged 60 years. I had been to Singapore about a month back and I was highly impressed with the country, its people, culture and public life. On the way back to India, I was thinking of the possibility of having a business contact with Singapore. I do not intend to settle there. I cannot also make big investments. Could you please let me know whether I could start a small business in Singapore, such as working as an agent for some companies in Singapore or promoting tourism to the country etc?
I shall be grateful to receive your reply.
Thanking you,
T.Sadasiva Kumar
Dear Sadasiva,
Yes, there are many business opportunities in Singapore that don’t require high investment cost. Do make an appointment with us so we can assist you with more options.
https://www.paulhypepage.com/book-now/
Yours
Rachel