20 Pandemic-Resilient And Most Profitable Small Business Ideas In Singapore
During the COVID-19 pandemic, the global business environment changed, offering problems that have never been seen before and resulting in the closure of a great number of businesses. Businesses have been suffering from interruptions, closures, and economic concerns in Singapore.
Nevertheless, in spite of these challenges, there are business ideas that have not only survived the pandemic but are also continuing to grow and be profitable.
In this article, we will look into 20 viable small business ideas that have shown resilience during the pandemic.
These small business ideas will give hope and motivation to those who are interested in starting a new business in Singapore.
20 Pandemic-Resilient and Most Profitable Small Business Ideas You Can Try
Despite the pandemic, these 20 small business ideas are growing and becoming more profitable. Moreover, we can observe that some of these business ideas arises due the impact of the pandemic.
Health and Wellness Products
Keeping one’s health and well-being in good condition has become more important as a result of the pandemic.
Launching a business that offers health products that are organic, manufactured locally, or sustainable is one method to capitalise on the growing market of individuals who put a high importance on their health and wellbeing.
This market is always growing. Some examples of these items include dietary supplements and piece of exercise equipment.
Online Tutoring Services
As a result of the disruptions that have taken place in traditional learning, there has been an increase in the demand for services that provide mentoring over the internet.
Businesses have the chance to leverage on this trend by providing students of all ages with individually personalised and accessible learning experiences.
Digital Marketing Agency
There is an increasing need for internet marketing tactics that are successful as a result of the relocation of corporate activities on the internet.
Internet presence, customer acquisition, and income might all be improved by launching a digital marketing company.
E-commerce Store for Niche Products
During the pandemic, e-commerce has shown its durability and resilience. Through the establishment of an online shop that specialises in niche items, business owners are able to cater to the unique interests and requirements of consumers, therefore cultivating a client base that is loyal to their brand.
Delivery and Logistics Services
There is a rising need for dependable delivery and logistics services as a result of the growth of online business transactions.
A firm that focuses on prompt and effective delivery and caters to both companies and consumers is a good option for entrepreneurs to consider beginning.
Home Renovation and Improvement Services
Due to the fact that more people are spending more time at home, there has been a growth in the demand for services related to home remodelling and house renovation.
Those homeowners who are interested in enhancing their living spaces might be the target audience for a firm that is starting in this industry.
Remote Team Building and Training
The necessity for remote team-building activities and training programs is expanding as the practice of working remotely grows more and more prevalent in the corporate world.
Entrepreneurs have the ability to develop creative solutions that may improve the engagement and cooperation found inside teams.
Subscription Box Services
People are looking for curated and personalised experiences that may be delivered to their home, which has led to the success of subscription box services throughout the pandemic.
Through offering of subscription boxes that are tailored to certain markets, proprietors of businesses have the chance to benefit on this trend.
Online Fitness and Wellness Classes
An increase in the number of people looking for online fitness and wellness programmes has occurred as a result of the closure of fitness studios and gyms during the pandemic.
Entrepreneurs that have knowledge in the field of fitness might provide virtual lessons to consumers in order to meet the demands of this expanding sector.
Eco-Friendly Products and Services
Sustainable practices have become more popular, and companies that provide environmentally friendly goods or services have seen a steady increase in customer demand.
It is possible for entrepreneurs to investigate the possibility of offering environmentally friendly solutions for day-to-day life.
Virtual Event Planning and Management
On the other hand, virtual events gained popularity while real events were subject to constraints.
With the ability to provide customers with a flawless and engaging experience, entrepreneurs have the opportunity to enter into the realm of virtual event planning and management services.
IT Support and Consulting Services
Given the growing dependence that businesses have on technology, it is very essential for them to have a solid support structure for information technology.
Entrepreneurs who are competent in information technology may give assistance and consulting services to companies in order to simplify the adaptation process for enterprises to the digital world.
Online Counseling and Mental Health Services
Due to the pandemic, more people are aware of mental health concerns. Online therapy and mental health services may be offered by healthcare businesses to fulfil the rising need for mental health help.
The demand for mental health services is likely to rise.
Home-Based Gourmet Food Services
Due to dining restrictions in place during the pandemic, there has been an increase in the demand for gourmet home-cooked meals of the highest possible quality.
Those who are skilled in the kitchen have the ability to launch a gourmet food service that operates out of their homes and caters to food aficionados who are searching for memorable dining experiences.
Mobile App Development
Cutting-edge smartphone applications remain crucial. Business owners with programming skills might start a mobile app development firm to serve corporations or specific clients.
E-learning Platforms for Skill Development
Pandemic emphasises constant skill growth. Entrepreneurs may build e-learning platforms with courses and resources for skilling up.
Smart Home Technology Installation Services
Smart home technologies are gaining popularity due to awareness and demand. Small businesses may capitalise on this. They can offer smart home devices installation and integrations to home and building owners.
Online Retail of Sustainable Fashion
As sustainable fashion is growing in popularity, buyers are becoming concerned on their purchases. Entrepreneurs can take advantage of this trend by starting online fashion store that sells sustainable products.
Cleaning and Disinfection Services
Demand for professional cleaning and disinfection has increased due to hygiene concerns especially during the pandemic. Launching a cleaning services business may take advantage on this need.
Remote Consultancy and Coaching Services
Professionals increasingly seek online coaching due to distant employment. Entrepreneurs with diver experience may provide remote consulting and coaching to meet client demands.
Are you planning to start a new business in the near future? Don’t forget to read these helpful tips for starting a business in Singapore.
The Bottom Line
Covid-19 has caused global business closures and economic instability. Despite challenges of pandemic, there are small business trends that survive and continue to be profitable.
Innovative, flexible business ideas survived the pandemic and flourished in the shifting market. And, we hope that our list gives you inspiration on the type of business to start.
Looking to get funded for your SME? Reach out to our professional advisors and apply with an SME loan from Capitall today.