Businesses you don’t want to start in Singapore

Are you interested in starting your own business? If you want to become your own boss and make truckloads of money you should open a company in Singapore. But why exactly Singapore? There are many places in the world where you can embark on a business venture, well, you see, Singapore is one of the easiest places in the world to set up a business, no matter its function. The registration of company is that much simpler if you seek the help of Singapore company incorporation consultants. The reason for setting up a business organization in the Lion City are many. However, you have to understand that you can’t establish just about any business in Singapore. You can, but you don’t have guarantee that it’ll be a successful one. So, what are the businesses that you don’t want to start in Singapore?

General bookstore

You’re the type of person that likes to retreat from the world and read a good book. Consequently, you’ve taken into account the possibility of opening a general book store. You think that bookselling is a great idea. Generally speaking, it is, but you’re forgetting the fact that the Lion City isn’t like the rest of the world. They have Books Actually and other brand names, so the people here aren’t oblivious when it comes to culture. The matter of fact is that Singaporeans are very pretentious, so they will expect your general bookstore to meet their needs. Are you able to do that?  You have to have lots of inventory, not to mention that you have to actually transport the goods to the customers. It’s not that opening a book store is a bad idea. Far from that. It’s just that it’s a challenging undertaking.

Baby day care centre

For women it’s hard to be independent, especially when they’re required to take care of children. The good news is that there are baby day care centres to help them balance professional and personal life. There isn’t a mother in Singapore that doesn’t need help with their little one. So, establishing a baby day care centre isn’t such a bad idea. Or is it? First of all, there’s lots of paperwork to handle. Okay, there are people who can help you with Singapore company formation, but what do you do about the local laws and regulations? It’s easy to screw up. The point is that it’s almost impossible to comply with all the laws and regulations.

Tutoring agency

You don’t have tutoring skills yourself, but you do know people who have the right skills. Why not start a tutoring agency? You can make money just by putting in contact tutors and interested parties. Chances are that this business idea has crossed your mind at least once. Yet, you should forget all about it. While Singaporeans are in need of tutoring, the market is so competitive that prices are very low. In simple translation, you don’t stand to make a significant profit. So, think about something else.

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