Looking for side hustles in Singapore? Explore easy opportunities to boost your income and overcome financial constraints. In the aftermath of the 2020 pandemic and ongoing economic uncertainties, many individuals face the challenge of stagnant earnings amid rising costs. Discover how side hustles can help you adapt and thrive.
The COVID-19 pandemic has shown us all the importance of being prepared for the unexpected. With widespread job losses, lockdowns, and financial instability due to the widespread virus, a lot of people had to dip into their savings. It later on, became more apparent that whether it’s through freelancing or starting a side hustle, having multiple sources of income can provide a safety net and grant you peace of mind in case of emergencies.
In the current state of today’s economy, it’s more important than ever to have multiple streams of revenue. Don’t wait for another crisis to hit before you start exploring alternative sources of income – take control of your financial future as soon as you can! So, are you ready to take the leap and start your own side hustle? Read on to learn more about how it works in Singapore and discover the possibilities for yourself.
Why should you take up side hustles?
2022 ended with the ongoing conflict between Russia and Ukraine remaining unresolved. Inflation remains a concern for many countries, with the US raising interest rates to combat it. The resurgence of Covid-19 adds another layer of uncertainty to the world economy. The already unstable economic conditions are made worse by the threat of extreme weather and supply-chain disruptions. In light of these challenges, people must start planning contingencies.
Side hustling in Singapore is a great way to achieve financial security and supplement your income. With the cost of living in Singapore being one of the highest in the world, it’s essential to have various sources of revenue to ensure financial stability in times of unforeseeable economic conditions. A side hustle can help you achieve your financial goals or simply have a cushion for unexpected expenses. By taking advantage of the many opportunities available in Singapore, you can create a more secure financial future for yourself and your family.
But besides saving up for the future, what advantages do side hustles provide?
Do what you love. By doing a side hustle connected to your passion on the weekends, you can earn extra income while still having time and energy for your primary source of income. Not only will you feel like you’re getting paid to do something you love, but it can also improve your overall well-being and sense of fulfilment. For example, a teacher who loves photography can take on photographic projects on the weekends to enhance their skills while earning extra income. This can also present them with opportunities to exhibit their work and gain recognition within the photography industry. Additionally, turning your passion into a profitable business can bring a sense of pride and accomplishment, reducing stress and burnout from your primary job.
It is an avenue to express your creativity and ingenuity. Taking on side hustles during your free time can give you the challenge you need to stimulate your creative side. It can inspire you to come up with fresh ideas or methods of doing tasks.
For instance, an artist who works on commissions on the weekends can utilise these projects as an opportunity to explore different mediums and styles and push their creative boundaries. It can help them to develop their skills and refine their craft. A chef who starts a small catering business on the side can use this opportunity to experiment with new flavours and techniques and to develop their unique style of cooking. It can help them to stand out in the culinary industry. You can exhibit your originality and cleverness when side hustling and push yourself to develop original concepts and strategies.
Grow your skills and confidence. You can expand your skill set by beginning a new endeavour outside your comfort zone. A side project can keep your mind engaged amid the repetitive nature of your day-to-day tasks in the corporate world. Receiving positive feedback directly from your clients can also help boost your confidence. Even if growth is gradual, making a small amount of progress toward what you’re actively working toward can give you more self-assurance in all facets of your life.
Start your career change. Side hustling can offer you opportunities to build your portfolio and clientele. A side business can also open up new opportunities and connections. It can lead to new collaborations, potential clients, or even a full-time opportunity in the field you are passionate about. It also allows you to develop your skills and knowledge, which can benefit personal and professional growth. And with the right mindset and hard work, it could even turn into a successful and profitable business venture.
For example, an entrepreneur who starts a small online business on the side can use this as an opportunity to explore new business models and marketing strategies to reach a wider target audience and test new ideas.
By starting it as a side business before leaving your day job, you can gain new skills and experience. In this manner, while you expand your clientele and portfolio, you will be able to do so without worrying about running out of funds. But ultimately, it is essential to weigh the potential benefits against the risks and to determine whether a side hustle is right for you.
Side Hustle Opportunities in Singapore
Side businesses are now more common than ever. More and more people are choosing to start a side hustle, especially now that there are many opportunities to earn money online. Starting a side business has so many benefits! Whatever your reason, the time to start a side hustle is now!
Here are some side hustles you can pursue in the Lion City:
1. Graphic Design
Are you passionate about graphic design and looking for ways to turn your hobby into a source of income? Good News! Talented graphic designers are in great demand both in Singapore and globally. With the rise of digital technology and the need for visually appealing and effective designs, businesses of all sizes are searching for professionals to help them stand out and grab the attention of their target audience. It is particularly true in Singapore, where the government has invested in e-commerce and the digital economy, causing graphic designers more job opportunities.
Whether you’re looking to build your portfolio, increase your earning potential, or do something you’re passionate about, graphic design can be your perfect side hustle. Thankfully, side hustling allows for project size and time commitment flexibility. You can take on smaller projects with a quick turnaround time if you have limited time to dedicate to your side hustle or larger projects that truly draw your interest. Try checking out the available postings from Upwork SG, Glance, People per Hour, and CreativesAtWork to look for projects to take.
2. Pet Services
Engaging in pet services may be the best way to enhance your income if you love animals, want to earn under a flexible schedule, and have no plans for the daily grind. Even retirees can take up this side business. Joining K9 Petcare, PetBacker, and Pawshake allows you to apply for flexible work schedules while spending time with some fluffy friends. There are a variety of jobs available, including those in dog walking, pet sitting, pet grooming, and pet care.
A pet service side hustle can also benefit an individual’s health. After all, spending time with animals has been shown to lower stress levels and improve overall well-being. Caring for pets can also increase physical activity, as dog walking or pet sitting often involves spending time outdoors and getting regular exercise. This sideline is both good for your health and wallet!
Blogging has become one of the options for many writing enthusiasts to make a living in this digital age. If you love to share your thoughts and write, this might be something you can look into. You can blog about numerous topics, from personal experiences, travel, food, fashion, and beauty, to technology, business, etc., while making a profit.
Blogging can also open up other opportunities, such as brand collaborations, sponsored posts, and book deals. The key is to find a niche, build an audience, and consistently create quality content that resonates with your readers. However, it’s important to keep in mind that building a successful blog takes time and effort. It may take months or even years before you start seeing significant traffic and earning income from it. But with consistency and dedication, your blog can grow and become a reliable income generator. If you’re thinking of starting a blog, research, find your niche, and start writing!
4. Personal Shopper
People who cannot shop for themselves due to time constraints or other reasons benefit from personal shoppers. The products can range from food to clothing. Consider this side venture if you are resourceful, sociable, and love shopping while exploring new locations. You can specialise in catering to a particular demographic or a specific product.
Like blogging, this side hustle will take time and effort to build before you can get clients. An established social media presence or a robust social network can help you attract potential clientele and increase your value as a personal shopper.
5. Online Translation Services
As Singapore is a country that promotes multilingualism and has four official languages, translation services are a great side hustle you can try if you have knowledge of one or more languages and have some free time on your hands.
Many companies and important individuals are always looking for translators to help them overcome the language barrier. If you are just starting, you can offer your translation services to the following companies to get started:
Related Article: Signals That You Should Incorporate Your Business
When your side hustles bloom into something more
Earning more than your primary source of income with your side hustle is an outstanding achievement. However, deciding whether to take the next step and make it a full-time career can be difficult. Consider these three factors before making a decision.
1. Your previous clients have frequently contacted you to take on more projects.
You’re in the right direction if your business has a large following of devoted clients with glowing recommendations. It is one of the best ways to determine whether your company is expandable. Repeat customers and their reviews show how your product or service improves people’s daily lives.
You might have too many projects lined up and contemplating hiring a team. But before considering expanding your workforce, it’s a good idea to incorporate your business as a separate legal entity. This choice will aid business development and growth in the long run. Here are 5 other reasons why you should incorporate your business.
2. Your profit from your side business can more than cover your expenses.
If you’ve noticed that you have been earning more on the side than in your main job, you might consider scaling up your side hustle into a full-on business. As this side hustle steadily grows, investing time and effort into your business may be worth your time which can eventually turn you from being a worker into your own boss!
If things are going well, consider incorporating your business. As your business grows, so do your liabilities. It will be safer in the long run if you can establish your business as its legal entity to protect you and your assets.
3. A unique chance to work full-time on what you’re passionate about.
It’s in our nature to take pleasure in our talents. Being able to run your own business and pursue your passions can make you feel successful, accomplished, and content every time you complete a project. If you start feeling these more with your side hustle and the other two conditions, consider making it a full-time job.
When we love our work, it is natural to work hard and invest in it. Incorporating allows you to protect the integrity of your brand and relationships with your clientele while delivering quality service.
Contact Lanturn if you want to know more about how we can help your business move forward.
To help you in making the decision to incorporate, check out the following articles and ebook:
- The Comprehensive Guide to Starting a Self-Fund Business in Singapore
- Incorporating a Business? Consider These Three Things
- Incorporation in Singapore: What Do You Need and How Much?
Launch with Lanturn
Are you ready to turn your side hustle into a successful business? The brand-new Lanturn programme, which was just made available, is ideal for first-time entrepreneurs. Lanturn created this program to help reduce some initial business costs.
After assisting international and local business owners in establishing their businesses in Singapore for years, we’ve developed the “Launch with Lanturn” programme to help entrepreneurs get their business up and running for a fraction of our usual cost. Furthermore, Lanturn ensures convenient and timely incorporation through our self-guided incorporation tool.
These are the features of this cost-effective programme:
- Up to 35% off our annual corporate secretary and accounting fees. (The discount is valid so long as your business continues to meet the Launch requirements.
- Use of a Qualified Registered Business Address for an entire year (if you conduct your business primarily online or have not found the perfect space)
- Lanturn’s team of experts will prepare and maintain the registers for your company.
- Lanturn will be your corporate secretary for a whole year.