Could you be the next Mark Zuckerberg? From networking events to courier services, and even government grants, here are some handy tips to help you get that start-up started!
Spend more time at work daydreaming about your game-changing business idea than actually doing your job? Then it might be time to stop thinking, and start doing! Starting a business in Singapore is surprisingly straight-forward; with low taxes, multiple channels of government funding, and a stable economy, our little red dot is a prime location to take the plunge. But taking that first step is often the hardest, and if you don’t know where to begin, here are a few handy hints to help you on your way (just don’t forget us when you’re the next big thang!).
1. Contact an SME centre.
These government-run centres have been specifically set up to help promote and champion small businesses. Offering a range of services – from start-up advisory sessions to identifying suitable government grants – it should be the first port of call for all budding entrepreneurs.
2. Know your target market and test your product.
So you think you’ve got a good idea, huh? We say ask your friends and family (and anyone else who will give you the time of day!) to gauge whether there genuinely is a gap in the market, and whether you’ve got the product to fill it.
3. Get savvy with service providers.
Find reliable service providers that can make your business more efficient, and your life easier! Organisations such as Zyllem can assist with last-minute courier requirements, and offer a speedy same-day service. Need to get your product to a customer or papers to your accountant, pronto? Sign up online and give yourself one less thing to worry about. What’s more, you don’t need to commit to any lengthy contracts; the perfect sitch for small businesses and start-ups!
The small business community in Singapore is very supportive and welcoming. Attend events, make connections, and be inspired by your peers. The Honeycombers’ very own Honeytalks series is a great place to start.
5. Get good advisors.
Your advisors can be anyone you trust, but make sure you have several. Having a core group of people you can call upon for advice will be advantageous throughout your entire business career. Books are also a great source of inspiration, and there are thousands you can turn to for guidance. A few of our faves include The 4-Hour Work Week by Tim Ferriss, and The Business of Happiness by Ted Leonsis. Happy reading!
This article is sponsored by Zyllem