Only four decades ago, Singapore’s economy was beset with severe unemployment and a shortage in housing. However, by the end of 1985, the country’s economy was ranked as one of the world’s strongest and most competitive. And today, it continues to exceed predicted expectations. However, even with all of its industrialisation, Singapore’s job market still struggles. As the demand for its exports continues to grow, employment steadily declines. This is specifically the case for the manufacturing sector which has experienced a dip for 11 straight quarters.
Turning to Self-Employment
This lack of opportunities has led many Singaporeans to freelance, consult and become self-employed. With over 14% of the population being entrepreneurs, many in this workforce feel that they have more control over their wages. Not only that, but according to a joint graduate employment survey of over 10,904 fresh graduates taken in 2015, an overwhelming number of them planned to become entrepreneurs and felt that they could better serve the business community in this way.
Pros and Cons of Self-Employment
This isn’t to say that self-employment is the magic pill that will solve everything. As with many things, this style of living comes with its own set of pros and cons. And each can be perceived differently from one person the next. Let’s take a quick look at what the self-employed can expect.
Pros:
Self-employment offers a sense of personal freedom. Unlike individuals who are bound to a certain number of hours, spent with certain people in a specific place every single day, the self-employed individual has more options. The choice of when, where, and with whom to work is, for the most part, completely up to them. They have more control.
Cons:
Self-employment requires a great amount of self-discipline. Sure this individual has more personal freedom, however, a lack of structure could lead to a lack of focus. If not careful, this freedom could easily become a handicap, because there is greater responsibility.
Pros:
Self-employment offers greater control over income. One of the biggest benefits of working for yourself is the ability to decide how much you are willing to work for. This great news for those who are struggling with Singapore’s low wages.
Cons:
Self-employment does not always ensure a stable income. While an individual can create their own wages, this does means that they will always be able to secure the amount of business they need to reach their monthly financial goals. For the self-employed, things can change very quickly, for better or worse.
Pros:
Self-employment allows you to choose a career based on your interests. This means that individuals do not have to follow the traditional route. They can be more open to new ideas and career objectives.
Cons:
Self-employment may lead to resistance from relatives. This is especially true if the individual is from a traditional family. While some friends may be able to appreciate this modern approach to success, the family may encourage the person to seek out a career that is salaried.
How To Start A Business
If you are interested in starting a business in Singapore, you’re in luck. The process is pretty straightforward. Start by choosing the type of business you are interested in such as sole proprietorship, partnership, LLC, and more. Next, choose a name for the business. You should then acquire a business license. If the entrepreneur is not from Singapore, they should apply for a visa for themselves and everyone on their team. The person may then register the business.
Awesome Freelance Ideas
1. Writer:
Do you have a way with words? Well, there are many companies who are willing to pay you for writing about your expertise–whether for their blogs, ad copy or more. The best part about writing is that you get the chance to learn more about your field. The most challenging part of writing is communicating with clients who may not be sure about what they want. You can register yourself with portals like HireWriters.com.
2. Web Designer:
With the rise of online marketing, one of the most sought out freelancers today is the web designer. If you have an interest in technology and graphic design, then you may be a perfect fit. The best part about working as a graphic designer is that you can develop a loyal list of clients. The most challenging part about web designing is communicating with the clients to ensure that you understand what they need. You can use portals like Freelancer.com or Upwork.com to find jobs.
3. Fitness Trainer:
Perhaps you would prefer to get a little exercise. Well, if you have the right certifications, you could land a job as a personal trainer. The great part about this job is being able to change people’s lives in a positive way. The most challenging part is building up a loyal clientele.
4. Caterer:
If you have a reputation for cooking delicious meals, then consider starting your own catering company. Catering gives you the ability to work with a variety of different personalities and attend several interesting and fun events. One of the most challenging parts of this job is working on the weekends or during special holidays.
5. Photography:
Photography is a great job for those who enjoy creating beautiful aesthetics. Photography gives people a chance to be creative. However, good cameras can require sizeable investments.
6. Driver:
Are you someone who loves to travel? Well, you may be interested in being a limo driver. Driving allows you to have the freedom of the open road. The most challenging part of being a driver is maintaining the vehicle. You can register yourself with Uber or Grab.
7. Maid Service:
Do you enjoy keeping things clean and in order? Why not start your own maid service? The great thing about this is that the better your reputation is, the better your income. The most challenging part of this job is the physical demands.
8. Marketing Consultant:
If you have business experience that you think will be valuable to startups, you can act as a consultant. This job gives you the ability to become an expert in your field. However, depending on how many clients you have, it can take up a great deal of your time.
9. Caregiver:
Perhaps you are certified in the healthcare industry. You may be able to use these skills and knowledge to become a caretaker. The great thing about this job is that you get to see the results of working with clients who need your help. The most challenging this is that this job can be emotionally draining.
10. E-commerce:
Do you have a product that most people would like? Do you know how to get their attention? Well, try e-commerce–selling your goods or services online. The awesome thing about this job is that the earning potential is limitless. The most challenging part about e-commerce is that it takes time to find the perfect marketing strategy.
11. Music Instructor:
Individuals who have music abilities can teach those who would like to learn. This job can be satisfying in that lessons you teach will remain with students for years. The most challenging part is marketing.
12. Vehicle Mechanic:
If you have a talent for repair vehicles, consider becoming a car mechanic. The great thing about this jobs is that you can scale the business up. The most challenging part is the amount of liability.
13. Virtual Assistant:
Are you especially organised and efficient? Are you great with administrative tasks? Try becoming a virtual assistant. This option is especially great for part-time students or those in between jobs. However, it can be very easy to become overwhelmed if you take on too many clients.
14. Motivational Speaker:
There are some people who know how to push others to be the best. Motivational speaking can be the ideal career for them. The awesome thing about this job is that you get to inspire people. The most challenging part of this job is building a brand and reputation.
15. Childcare:
Do you have a love for children? Well, you should consider childcare. It allows you to take care of children while helping them to learn and grow. The most challenging part of this jobs is how stressful and physically draining it can be at times.
16. Hairdresser:
Would you like to be apart of the health and beauty industry? Try hairdressing. This career allows you to be creative and work with a lot of interesting people. However, it can be physically demanding.
17. Videographer:
Videographers are always where the action is. Not only do you get a chance to film cool events, but also ad touches of your own creativity. The challenging part about this career is the long hours.
18. Blogger:
While blogging has been around for quite some time, it is still a great way to earn money. While freelance writing usually requires you to write for others, bloggers can write for their own websites. The great thing about this job is that it is scalable. The challenging part is that it takes a lot of time.
19. Logo Designer:
A new business is started every day and most of them are in need of logos. Logo designing is great because it allows you to be creative. The hard part is finding clients.
20. Dog Trainer:
If you have a love of animals, then you should consider becoming a dog trainer. The great thing is getting to make their owners’ lives easier. The difficult part is that it takes a lot of patience.
Why Partner With MediaOne
No matter what industry someone chooses to pursue, they’re going to need an online presence that lends credibility. And as an award-winning SEO company, MediaOne knows just how to do this for them. We also know that there are other SEO specialists who share some of our skills and goals. We’re looking for business owners who would like to refer or resell our services to future and current entrepreneurs. Not only do these referrers and resellers get high commissions, but also discounts off of their own SEO services. Expect to expand your customer base, become an expert, and help your clients get top rankings. As Singapore’s job markets change, so do people’s career strategies. Getting a digital marketing reseller programme with MediaOne just makes sense.
