6 Top Business Ideas to Beat Recession

by Leslie S. Professional Content Writer

Don't let any recession demotivate you. You should remember that people have needs and want. You should try to uncover these before committing to a business incorporation Singapore. It is the way to success.

Recession-Proof Business Ideas

If you are a foreigner opting for an easy Singapore company registration, appoint a registered filing agent. These firms can interact with ACRA on your behalf, pay ACRA fees, and submit necessary documents for your business incorporation in Singapore.

I mean, you should search for recession-proof business ideas. Find something that resonates with you. Test the idea in the market by talking to its actual users. This group will be your target customers. Let us start with a few business ideas that will help you thrive even during an economic recession.

Bookkeeping and Accounting

Even though the economies the world over are in a recession, businesses have to comply with the rules. Regular bookkeeping and accounting is part of it. They also need to submit business accounting statements, annual returns, and taxes to the authorities. Providers of accounting services help them do it.

Cleaning Company

A clean environment is a healthy environment. The government, companies and people spend on it. Now, due to the Covid pandemic, there is much emphasis providing safe shared and public places. The establishments like banks, hotels, restaurants, and offices, ensure it by hiring cleaning companies. Today, running a cleaning business is a profitable thing.

Home Delivery Services

People are changing their ways. Now, a large number of them expect things to be delivered at their doorstep. Home delivery services have gained momentum during the Corona epidemic. They deliver food, gourmet food, grocery, medicines, courier, and other things at your doorstep. People even use them to send gifts to their dear ones.

Repair Services

Equipment that is used in homes, kitchen, offices, and for manufacturing goods and transportation can break down at any time. Customers need a repairer or a maintenance specialist to get them right, especially if the equipment is helping them earn money. They also need someone to maintain their tools regularly.

Healthcare Services

People enjoy being healthy. Accidents, diseases, ill-health make them search for healthcare professionals like doctors, nurses, physiotherapist, etc. They also need specialized care providers, ambulances, medical laboratories, etc. They also need doctors to take care of their pets.

During the ongoing pandemic like Corona people also needed services of medical equipment providers for respirators, oxygen cylinders, masks, etc. This makes healthcare-related services a high recession-proof business.

Baby Products and Services

Every parent wants to take care of their newborn baby to the best of their ability. It means they need someone to sell them reliable products and services. Depending on the circumstances, they need baby formula, clothes, diapers, bathing products, cribs, etc. They also buy toys to entertain and educate their babies. For a little older babies and kids, they need providers of a daycare centre and other services.

Certain products and services are essential. People cannot do without them. If you want a steady business, try implementing a recession-proof idea. If you have any questions regarding Singapore company registration, call us on +65-6536 0036 or email us at info@sbsgroup.com.sg for answers.