New Study Reveals Top 20 Profitable Side-hustles In Singapore

The top income-boosting side hustle ideas for 2023 include refurbishing furniture, starting a ‘kitchen table travel agency’ and becoming a YouTube tutorial star. With inflation reaching a 14-year high, a series of side-earners have been revealed – such as opening a mobile pet grooming service and learning enough about tax to do other people’s returns for them.

Money can even be made by renting out space on your driveway or creating ‘experiences’ for Airbnb visitors, and by testing websites for cash.

The list was compiled by smart accounting firm Osome, who have also created a tool to reveal what sort of side hustle [https://osome.com/sg/careers-test/] is right for you.

A spokesperson for Osome said: “Almost everyone is looking for ways to generate a little bit more cash in Singapore at the moment.

“This could be done by saving money elsewhere, or by creating more income – which is where our side hustle test comes in.

“The test matches you with the side hustle best suited to you and will  have something for almost everyone, whether you’re a DIY expert, a crafting extraordinaire or a master of coding.”

The list of side hustles comes after research of 1,000 adults in Singapore found two thirds (66 per cent) would like to run their own business one day.

But nearly seven in 10 (68 per cent) confess they aren’t totally sure what type of business they would be best suited to operate.

The top business respondents would like to run are a business or café, selected by 19 per cent, while nine per cent would like to be an ecommerce store owner, and sell things through Amazon, Shopify or similar.

But 46 per cent feel chasing their goals would be too financially risky, while 41 per cent worry about the stress they’d bring.

Just under three in 10 (29 per cent) think they would be too far out of their comfort zones, and 37 per cent fear they don’t have enough experience.

Respondents think decision making is the most important trait to someone starting their own business (61 per cent).

This is followed by passion (55 per cent), motivation (53 per cent) and a relentless positivity to overcome any obstacles (52 per cent).

And a huge nine in 10 (89 per cent) say the idea of being their own boss appeals to them, according to the OnePoll figures.

But on average, those with business aspirations have been waiting for more than five and a half years to turn their dreams into reality.

Osome’s spokesperson said: “Especially as you get older, the years go by so quickly that before you blink, half a decade has gone.

“Many of our respondents have been waiting a decade or longer to start their own enterprise – which is time that could have been spent building the business.

“Everyone has to choose their own path in life, but turning a passion into a business can mean you never feel like you’re ever really ‘working’.”

OSOME’S 20 SIDE HUSTLES TO TRY IN 2023:

1. Sell homemade crafts on Etsy
2. Refurbish and resell used furniture
3. Start a kitchen table travel agency
4. Buy and sell pre-owned jewellery
5. Rent out your speciality gear
6. Become a mover
7. Become a notary
8. Create an Airbnb Experience
9. Start dropshipping
10. Be another Shopify store owner
11. Prepare people’s tax returns
12. Test websites for cash
13. Rent out spare space on your drive
14. Get paid to teach your hobby on Skillshare
15. Take up programming projects
16. Offer part-time consulting
17. Earn passive income through vending machines
18. Slide into a repairs side hustle
19. Create YouTube tutorials
20. Open a mobile pet grooming service