Singapore is a fantastic place for entrepreneurs. Starting a business here is straightforward, and there’s plenty of support to help get your startup off the ground. The size of the market also makes it easier to find the right people to connect with and pitch your ideas to. workbuddy is Singapore’s largest network of coworking spaces. Here are some tips from workbuddy’s own community of entrepreneurs on how to succeed as a startup in Singapore:

Build your network

Singapore is perfect for building a strong network. Many entrepreneurs talk about how supportive the business community is here. People are great at promoting others in their industry through word-of-mouth, and there’s a real sense of camaraderie among fellow entrepreneurs who understand how challenging (and sometimes lonely) the journey can be.

Networking events are a must—even if you don’t consider yourself a “social” person. You never know who you’ll meet or what opportunities might come your way. Co-working spaces often host regular events where you can meet new people and spread the word about your venture. It’s also worth joining relevant trade associations and support organizations, such as Enterprise Singapore, the Association of Small & Medium Enterprises (ASME), Action Community for Entrepreneurship (ACE), and the Singapore Business Federation (SBF).

Find the right team

It might seem cost-effective to do everything yourself in the beginning, but as your business grows, this can become unsustainable. Plus, it’s unlikely you’re an expert in every area. So, as soon as your budget allows, start bringing in experts to fill the gaps. You can also consider outsourcing tasks like admin or accounting to third-party services who can often do it more efficiently and affordably than hiring a full-time team.

When it’s time to recruit, make a list of the key attributes you’re looking for in your team members and prepare clear paperwork so employees know what to expect during onboarding. It’s also helpful to create an employee handbook that outlines your mission, company culture, and expectations. Pairing new hires with experienced team members can also help them settle in more smoothly.

Prepare to go international

While Singapore’s small market size is a benefit in the early days, after a few years, you might feel like a “big fish in a small pond.” Many entrepreneurs find it challenging to keep growing their customer base after establishing themselves locally.

The advice from our community? Start thinking about international expansion early on. Even if your plan is to stay local for the first few years, setting up the right structure from the start will make it easier when you’re ready to go global. This means investing in

software that can scale to international markets and educating yourself on physical overheads, labour laws, and the bureaucratic steps involved in expanding globally. Factoring in these additional costs early on can save you headaches down the line.

Keep costs down

One of the biggest expenses for startups is rent. Finding ways to reduce rent costs can help you reach profitability much sooner. Many people choose to work from home or co-working spaces to keep overheads low.

If your business allows, make sure your team can function online, too. This gives you the flexibility to navigate the ups and downs of the early stages. You need a setup that can handle changing team sizes and avoid long-term office contracts that might not suit your needs as you grow.

workbuddy is a great option for startups because it gives you and your team on-demand access to more than 50 professional co-working spaces for as little as $129 a month. If you’re looking for a flexible space for your team, we can help you find the perfect solution within your budget.

Try workbuddy free for a week with the code FREEWEEK.

All the best for your start-up journey!

This is a partner post in collaboration with our valued partners. The information provided is for general guidance and does not constitute professional advice. Always consult with a qualified expert before making decisions based on this content.