The year 2020 is every working person’s nightmare. It is almost impossible to keep doing business in Singapore the way it was before when there was no COVID-19 pandemic. Everyone is now wondering how they can do business “normally”. The “new normal” requires everyone to wear masks and practice social distancing. But the truth is, it is still possible to do business in Singapore, as long as activities are executed with extra caution.
Which Businesses Can Be Opened Without Pandemic Risks?
You may be wondering how to set up a company in Singapore despite the pandemic. To do this right, you first need to define the type of business. Some industries, such as construction, require a lot of manpower working and living in close proximity to each other. This may explain why the dormitories of foreign workers in the construction field are hotspots for covid infections. However, other businesses such as restaurants have been able to keep doing business in Singapore by implementing social distancing rules. You just have to prevent any person suspected of being a covid-19 virus carrier from getting into contact with healthy people.
The Internet is vital to business success. Many companies may actually become very profitable by offering their goods and services online. For instance, you might set up an online shopping marketplace based in Singapore. The online shopping platform can post photos and a brief description of each item is included with each photo. Consumers may submit orders, give payments, and receive their purchases without having to ever get close to the seller. This means you can sell anything and everything online, with zero-to-minimal contact with any other person. We might need more Internet-based businesses actually, to help consumers keep buying and paying for purchases without exposure to the virus.
Will Existing Businesses Be Forced to Shut Down?
Unfortunately, some businesses will indeed have to be shut down. The earlier mentioned construction industry is a good example of a business that may have to remain closed until the pandemic goes away. You can also say goodbye to spas and other luxury service industries like it that require close human contact. Restaurants that are losing big money since they don’t have take-away service will also go belly-up.
What Should Be Done?
If you want to know how to keep doing business in Singapore, you need to figure out what consumers want. You then think of ways to deliver what consumers want without physical contact. You look for systems that will allow you to communicate with consumers or clients in real-time. The Internet will definitely grow in importance – so why not set up an online business as well? Smartphones are also very important tools for trade activities, especially those in e-commerce and financial services businesses.
In these pandemic times, it is very important not to panic. It takes knowledge and creativity to continue doing business in Singapore despite the pandemic. If you haven’t figured out yet what business you should enter, look around Singapore. Who would stand to benefit from a business? Then you can determine how you can help those consumers or clients by setting up your own company. This applies to all new company owners (regardless of whether they are citizens of Singapore or temporary residents only).
If you want to register a new company, you can talk to an incorporation company. They will make the process easier during this time of the pandemic.