SINGAPORE: In a social media post on Tuesday (Oct 20), former Temasek Holdings executive director and CEO Ho Ching wrote about the possibilities of home-based businesses in Singapore.
Not only can they offer additional income streams for Singaporeans, but they also have the potential to hit it big.
“In the digital world, home-based businesses can also go global.
So every HDB home can be the equivalent of a startup garage.
This gives our people additional avenues to make a living by offering their products, skills and hobbies as a service to others,” she wrote.
Mdm Ho began her post by expressing how glad she is that the restrictions on home-based businesses imposed some years ago have been lifted, noting that it took much time and effort from several people, including Members of Parliament.
The Housing & Development Board (HDB) eventually came up with doable regulations, and also ensured that necessary infrastructure such as power and electricity was upgraded and in place.
“This has given our folks the opportunity to indulge in their hobbies, including omakase and private dining in their homes, or making festive cakes or special goodies during various festive milestones,” she noted.
Mdm Ho gave the example of housewives who earn a little extra with their culinary skills, hobbyists who see profits through doing something they enjoy, and even highly skilled workers, such as those who repair antique watches, who have customers from around the globe.
She added, however, that reasonable restrictions still exist in order to prevent inconveniencing those living nearby. Mdm Ho took the opportunity to thank the individuals who made the way for home-based businesses to exist and flourish, adding, “I wish everyone all the very best, as they take the courageous route of starting their home-based business, however modest.”
Her post sparked a debate among commenters, some of whom were more in favour of home-based businesses than others.
Some mentioned the highly successful local bakery chain Bengawan Solo, which has its origins in the founder’s HDB flat kitchen in Marine Parade way back in the 1970s. The company’s cakes, including Pandan Chiffon Cake, dubbed by CNN as “Singapore’s national cake”, have become iconic food souvenirs.
Another mentioned was Mustard Seed, a pop-up private dining experience that began at a Potong Pasir HDB.
Others expressed concerns, such as home-based businesses competing with brick-and-mortar shops for customers in an already crowded food and beverage market. /TISG
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