Note: The information contained in this article does not constitute financial, legal or tax advice. If you are in doubt as to the action you should take, please consult your financial, legal, tax, or other professional advisers.
The global digital landscape has changed the way many of us live and work.
While working in the office was previously the norm, hybrid (office and home) arrangements are becoming more commonplace.
This has allowed individuals to explore different home-based side hustle ideas as a way to earn an extra income. If you’ve always wanted to explore avenues for a business side hustle, and are looking for some inspiration, we’re here to help.
We share 8 ideas to consider in Singapore, with some important factors to keep in mind before deciding. We’ll surface the advantages and disadvantages of each of the ideas on our list, and list the factors to consider before starting.
While some are motivated by profit margins, or return on their investment, it’s important to appreciate the time commitment a side hustle involves. With that in mind, we list three important factors to consider before you start – ease of starting, cost of starting
and ease of maintaining
. Ease of starting refers to the complexity of starting the business, while the cost of starting refers to the amount of financial investment needed. Ease of maintaining refers to the relative ease of maintaining the business over time.
Read on as we go through our list!