Home-based businesses in Singapore are booming! When you scroll through Instagram, you will see at least one account posting about a home-based business – whether it’s in support of a friend or promoting their own side hustle.
Are you considering starting your biz at home? But where do you start?
First of all, Singapore residents are allowed to carry out small-scale home-based business activities without requiring approval from HDB. However, the living environment must still primarily be used for residential purposes.
Examples of Permitted Home-Based Business Activities
To carry out a home-based business, you must make sure that the business activities will not cause any inconvenience to your neighbors. Additionally, you must observe Safe Management Measures, such as limiting the number of people entering your flat and using the SafeEntry or TraceTogether app.
Here are some home-based business activities that are permitted by HDB:
- Food business such as baking on a small scale
- Hairdressing, facial and beauty (excluding massage), manicure, or pedicure services
- Private tuition for not more than three students at a time
- Sewing services
- Work as a freelance artist, journalist, photographer, or writer
Curious to find out more? Here are a few lucrative work-from-home business ideas to get you started.
Lucrative Work-from-Home Businesses
1. Sell Things on Etsy
Want to monetize your arts and crafts? You can sell your handcrafted items on Etsy. You can sell a wide range of items from accessories, craft supplies, art pieces, and more. In fact, you can also sell digital and printable items on Etsy so you don’t have to worry about production costs.
How To Get Started?
First, you need to sign up as a seller on Etsy and open your Etsy shop. You can select your shop language, country, and currency. However, to reach more potential customers, you need to put in time and effort.
For instance, you’ll need to take good pictures of your products and optimize your product titles and descriptions. In doing so, people can easily find your products.
Possible Income
Pricing is up to you. But keep in mind the fees and charges that come with listing a product on Etsy. For instance, a Singapore-based accessory shop sells its handmade knitted bracelets at around S$11 apiece. The shopping listing showed that the seller has sold 223 pieces, which translates to S$2,453.
2. Offer Translation Services
Are you bilingual? Why not monetize it by becoming an online translator? Freelancing websites, such as Upwork and Freelance.sg offer remote translation jobs. Translators are paid after completing a translation project or assignment. Some of these projects are time-bound yet still pretty lucrative.
How To Get Started?
Sign up on freelancing websites, like Upwork. Or you can sign up on translation websites, like Gengo. You may have to go through a two-part test for an assignment of skills – a pre-test and a standard test.
Once you’re accepted, you will be able to look and apply for jobs. Keep in mind that these freelancing websites have a rating system. The higher your score, the more you’ll have access to better-paying jobs.
Possible Income
Your possible income will depend on several factors, such as base rates in the industry, the language being translated, and how many assignments you’ll finish within a certain period.
However, payment per assignment can range from S$20 to S$1,500. Some translation services may charge USD$0.03 per word for standard-level translators and USD $0.08 per word for more experienced translators.
3. Participate in Paid Surveys
You can earn extra cash by participating in online paid surveys. Although it isn’t the most profitable side hustle idea, it’s still worth considering.
Several survey sites pay you to answer surveys. However, not all survey websites are reputable so make sure to do your due diligence. For one, never participate in surveys where you’ll have to pay first. Next, check the eligibility requirements before answering.
How To Get Started?
You’ll need to find a reputable survey website, such as OpinionWorld, Toluna Singapore, and more. Some of these websites offer several other ways to earn extra money, such as taking online offers, doing small online tasks, downloading apps, and more.
Possible Income
The rates may differ depending on the survey website. However, you can earn anywhere between $1 to $25 per survey.
4. Teach Online
Offering online tutoring services is a lucrative home based business in 2021. As we adjusted to the new normal brought about by the COVID-19 pandemic, many educational institutions have shifted to virtual learning. In 2022, online learning is still gaining traction.
That said, if you have expertise in a particular subject or you have relevant academic qualifications, you can offer your tutorial services online. With this home based business, you can earn money on an hourly, weekly, or monthly basis. It’ll depend on the number of sessions you provide.
How To Get Started?
Sign up on freelancing websites, such as Upwork or Freelance.sg. You can also sign up on an online tutoring platform, such as Snapask which allows students to ask questions and quickly receive answers. With this platform, tutors can communicate with up to 10 students at a time which makes it more flexible.
Possible Income
Tutors in Singapore can earn around S$1,675.45 a month for an hour or two of answering questions at Snapask.
5. Start a Blog
Do you have a blog? You can monetize it to earn extra income. Blogging is an enjoyable side hustle since you’re in complete control of when to post. Plus, you can do it from anywhere.
So how can you monetize your blog?
- Advertising
- Sponsored posts
- Affiliate marketing
However, it isn’t a get-rich-quick scheme. To start earning money from your blog, you need to put in the effort. First, you’ll need to post high-quality and valuable content. Plus, you’ll need to optimize your content to reach your target audience.
How To Get Started?
First, you’ll need a blog. You can start with a free WordPress blog. If you want to look more professional, you can pay for blog hosting services, such as GoDaddy, SiteGround, or BlueHost. Choose your blog name and the theme. Lastly, write compelling, valuable content.
When starting a blog, you need to choose a niche. It could be anything but it’s best to choose one that you’re passionate about. For instance, if you enjoy writing food reviews, then write content about the top restaurants in your local area.
Possible Income
The amount of extra income you’ll earn from your blog will depend on how you monetize it.
Say for example you’re using it for affiliate marketing. According to Exabytes Affiliate Program, affiliate commissions can range from S$50 to S$100. The average commission for each affiliate is around S$2,240.
6. Become a Virtual Assistant
A virtual assistant helps keep businesses functioning like a well-oiled machine. As a virtual assistant, you’ll support your clients in various activities from a remote location. It can be tasks in administration, project management, digital marketing, and more.
What services can you provide as a virtual assistant?
- Data entry
- Setting or booking appointments
- Social media management
- Blog management
- Project management
- Proofreading
How To Get Started?
Since this is a remote business, you’ll need a stable internet connection and a computer or laptop. You can then sign up on platforms, such as Upwork to find virtual assistant jobs. You can also reach out through LinkedIn.
Potential Income
The potential income you’ll earn per month will depend on your rate or how many clients you take on. Some virtual assistants earn around USD$4,000 to USD$5,000 a month.
7. Sell Home Bake
If you’re confident with your cooking and decorating skills, you can sell cakes, cookies, and other pastries. You’ll find that there is a high demand for your services. You’ll need to use high-quality ingredients and have unique recipes to build your customer base.
Most importantly, when you’re a home baker, you’ll need to follow the food hygiene standards issued by the Singapore Food Agency (SFA). Here are some things you need to consider:
- Personal hygiene
- Kitchen hygiene
- Food safety
- Storage safety
- Fire safety
How To Get Started?
A license is not required to run a small-scale home-based baking business. However, you’ll still need to register your business. You may be exempted from registration if the name of your business is your full name. If your business name includes descriptive words before or after your name, you must register your business.
Potential Income
How much you earn will depend on how much work you put into baking and marketing. Some home bakers may earn between USD$200 and S$400 a month. It’s important to manage revenue by controlling costs and having a good pricing strategy.
8. Offer Videography Services
If you have video editing skills, you can always offer a videography service. This service is in-demand during weddings, birthday parties, and even for corporate events. In fact, with the booming popularity of creating YouTube channels, you can offer your video production skills to influencers, companies, and organizations.
How To Get Started?
First of all, you’ll need to have the necessary skills for video production. If you’re confident with your abilities, then you’ll need good equipment.
To get started, you can be a part of 90 seconds which is a cloud video production platform. Here, you’ll find different video requests and you can take up any project that suits your skills. Another option is to showcase your portfolio through a YouTube channel, Instagram, or other social media channels.
Potential Income
The rates you’ll charge will vary depending on the scale of the project, the area where you’ll be shooting, the equipment used, and more. A standard shoot video production service in the 90 seconds platform may cost around USD$1,072 to USD$5,882.
9. Operate a Home Sewing Business
Want to make money out of offering your sewing services? You can make clothes, hats, scarves, and other accessories in the comforts of your own HDB flat.
Or you can offer alteration services for people who want to make adjustments to their clothes. If you have the skills to do both, you can build a lucrative work-from-home business.
How To Get Started?
You’ll need to invest in a good sewing machine. Get one that is perfect for the services for your offering. For example, an embroidery machine is different from a regular sewing machine. Next, you’ll need to promote your business. You can do this by creating an Instagram profile dedicated to your business.
Another option is to sell your handmade creations through online platforms, such as Etsy.
Potential Income
How much you’ll earn from your home sewing business will vary, depending on different factors. For instance, some local businesses in Singapore offer custom suits at S$310 while others charge S$510.
That said, it’s up to you how you charge for your sewing or tailoring services. Of course, when pricing your services, you’ll need to consider a few things, such as your material cost as well as the time it takes to finish a product.
10. Manage the Social Media of a Company or Organization
Do you spend hours on social media? Are you always updated about the latest TikTok or Instagram trends or the latest hashtags? You can make money out of your hobby by becoming a social media manager.
As a social media manager, you’ll be working with a brand and creating a social media strategy. It is your job to boost their online presence and increase their engagement on different social platforms.
How To Get Started?
You’ll need to at least have some copywriting, basic design, and project management skills. You can also consider getting a crash course on marketing to help increase your chances of getting projects.
To find social media management jobs, you can check out platforms such as Upwork or LinkedIn.
Potential Income
Several factors may affect your potential income, such as your rate per hour, your experience and skills, and the project you’re working with. Some social media managers can earn around S$2,000 to S$3,500 per month.
Do You Need to Register Your Home Business?
According to section 5 of the Business Names Registration Act (BNRA), all types of businesses – with a few exemptions, must be registered with the Accounting and Corporate Regulatory Authority (ACRA). This includes online, work-from-home businesses, or home-based businesses such as home-baked goods.
Are there exemptions for home businesses?
If you wish to carry out your business as an individual under your full name, you are exempted from registration. However, if you add descriptive words before or after your name, you’ll need to register your business.
The Business Registration Process
Step 1: Apply online via the BizFile+ website. The application process only takes around 15 minutes.
Step 2: Depending on the type of business you want to register, you may be required to seek approval from the relevant regulatory authority before registration.
Step 3: Upon registering your business, you will be given a business profile. This contains all your business details, as well as a Unique Entity Number (UEN). This identification number will be used when transacting with government agencies.
Requirements
- A SingPass login for online application
- Entity information
- Business activity
- Business address
- Business owner(s)’ details
- In-principle approval from referral authorities if required.
Also check out on how to start a small business in Singapore!
Closing
With the changing work landscape due to COVID-19, a single 9-to-5 job is long over. More and more Singaporeans are hoping to monetize their passions and earn additional income. Setting up a home business will help you earn extra cash while being your own boss and having your own work hours.
Key Takeaways
- Singapore residents are allowed to carry out-small scale home-based business activities without requiring approval from HDB.
- Make sure that the business activities will not cause any inconvenience to your neighbors.
- All types of businesses – with a few exemptions, must be registered with the ACRA, including online, work-from-home, or home-based businesses.
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