You are trying to secede from the big company you joined few years back because you think that you are ready to build your small business. You gained all the knowledge and experience that is why now you are confident to build your small business. As long as you have the vision, you will always thrive here in Singapore.
If you just want to know the list of the most profitable small-medium business industries in the world, you have to refer to a study conducted by the Sageworks. Sageworks is financial data services that analyze the net profit margin of sixteen thousand small businesses from September 2014 to August 2015. These small businesses earned less than ten million dollars.
Here is the list of the most profitable small-medium business industries in the world:
Accounting, tax preparation, bookkeeping and payroll services: According to Sageworks, this industry is consistently on the top of the list these past few years with 18.4% of net profit margin. The economy is fluctuating but people still need accountants.
Management of enterprises and companies: The industry is comprised of privately-owned bank companies as well as other kinds of holding companies. This industry has 15.5% of net profit margin which makes it the second most profitable small-medium business industries in the world.
Real estate: You have to know that this industry heavily relies on the status of the economy. It is the third most profitable small-medium business industry in the world because of its low operational costs – all you need is brokerage license and agent. It covers 15.19% of net profit margin.
Automotive rental and leasing: There is an increasing demand for cars. Many people are now contemplating about car rental or leasing. It covers 14.55% of net profit margin.
Legal services: People who already know some lawyers are aware that lawyers do not come in cheap. Lawyering is lucrative because of its low operating costs but high return. Legal services do not just include layers, it also include settlement officers and other agents. It covers 14.48% of net profit margin.
Dentistry: Like physicians, dentists are also in demand these days because of their recurring patients. Starting is usually expensive however the returns are quite big after few years. It covers 14.41% of net profit margin.
Power companies: Power companies in charge for the electric power generation, transmission as well as distribution cover 14.02% of net profit margin. The electric companies include fossil fuel powers, geothermal, win, solar, nuclear and hydroelectric.