20 Small Business Ideas in the Philippines for 2020
Photo c/o Small Business Sense
There are plenty of good reasons to start a business this 2020, especially if you have the skills, the opportunity, and the resources needed to do start something new. Have you ever heard about the phrase, omission bias? Omission bias is the tendency to favor an act of omission over one of commission. It’s when you start to worry more about doing something than not doing anything. When you start a small business and then things start going wrong and you fail, you worry about people thinking you’re a failure. If you don’t start a business, nothing will go wrong, and no one will see that something has gone wrong.
This kind of attitude is exactly what prevents people from doing something great. This is what kills great ideas and stops businesses from flourishing.
This 2020, try to get rid of this mindset if you have it inside of you! Then ask yourself again. Are you interested in starting a business in the Philippines?
If your answer is yes, then here’s a list of small business ideas and possible investment opportunities that you can explore today. Time to put on your entrepreneurial cap!
Agriculture has always been a hit for entrepreneurs in the Philippines. And with the increasing interest in organic farming and farm-to-table initiatives, there is a growing demand for services and retailers that bring fruits, vegetables, and other agricultural products to greater heights. Take your cue from businesses like Session Groceries to get an idea.
Year in and year out, tourists visit the country for leisure trips and vacations. Usually, it was only during the summer when people would look for these activities, but surprisingly, tourist numbers have continuously climbed up throughout the year. So, there’s always great reason to start a business that can cater to tourists. It can be about accommodation, transport services, tourist guiding services – whatever works for you!
Filipinos tend to always go after the latest in tech, which is why smartphones, tablets, computers, and other accessories sell like pancakes. We even have entire mall buildings dedicated for this purpose alone. This means people support such ventures and that you’ll have a large market to cater to. If you find a supplier who can import high quality tech devices, then you should tap into this opportunity!
- Processed food
Just like how agricultural businesses flourish, the country remains a good market for processed foods. Think meat products or preserved fruits. You only need to find that one great recipe that will trump everyone else’s. Who knows? You could be the next Delimondo or 7D Mangoes if you play your cards right.
- Water business
Water is life, so what better idea than to start a business around it. It’s lucrative. It doesn’t go out of season. Everybody needs it. Water businesses fall under different categories. There would be water refilling stations where people can come to buy clean water to drink. Or you can add some twist to the regular water and make it fancier, like designing your own artisanal or sparkling water to be sold in special bottles. Do some research first to see what works for the audience you want to target specifically.
There are a ton of unique markets in the metro that cater to clothes and shoes. They’re always teeming with people from all different walks of life. You can do so many things. You can start your own clothing line, produce accessories and other fashion items. Some would even go as far as designing an entire shoe line even if there are more established names in the market.
- Real estate
If you are interested in the property industry in the Philippines but cannot afford the required investment, you can become a real estate agent instead. These people make a lot of money without much capital other than their people skills.
- Transport services
Speaking of houses and lots, another business you can start right away is all about vehicles. Businesses in this sector fall under different categories. Some of the more popular ones involve car hires or van rentals. There are also those who use their vehicles for on-demand vehicle platforms like Grab. Some choose to be involved in things as simple as school service businesses. There is so much movement happening on a daily basis here in the country especially in the bigger cities so there’s always a constant need for people carriers.
- Courier services
Another low investment business would be parcel or mail delivery services similar to Lalamove. Because online purchases have become big these days, the demand for delivery services have skyrocketed. Such businesses also offer people with flexibility because the drivers can do it whenever they want and at their most convenient time.
- Maintenance services
If you are an electrical engineer, a plumber, or into some other professional trade, then you can easily start a business around maintenance services. More and more Pinoys are realizing the need for these services because it’s always better to get things repaired than to get them replaced completely.
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Photo c/o FeedbackExpress
It’s also easy to start a construction company of your own if you’re currently in a related field like engineering or building. It would be easy to gather a group of workers to deliver projects involving building dream homes or commercial establishments.
- Recruitment agency
Recruitment agencies play a great role in linking the unemployed to those who need to hire people. An even bigger business awaits those who are keen on targeting the OFW market, sending staff to places like the Middle East or in the cruise line industry. Just make sure to go through all the necessary paperwork when starting this kind of business because sending manpower abroad can be a rather fragile undertaking.
- Solar energy
Solar energy is a money spinner these days. People are looking for ways to make their electricity bill lower, so they turn to these services. You can start a business in this sector either by being an installer or by directly supplying customers with solar options for their properties. First, you probably should have an electrical background or maybe some experience at a solar products company. You can look into companies like Solaric to check if this kind of business is right for you.
- Used goods sales
There is a market for people who want to buy old records or books. This could be a lucrative venture, too. Old CDs, for instance, fetch high on the market – sometimes for as much as you originally bought them 20 years ago especially when they’re limited edition on when they can’t be found elsewhere in the market. You can observe places like Planet CD, an 18,000-strong local Facebook group about records and Second Hand Books Philippines to get ideas.
- Wedding planning
Weddings have never been trendier as they are today, so a lot of people are starting to open businesses related to weddings. Think always keeping yourself up to date about wedding trends and color palettes. You can offer your mostly female clientele with services such as helping them pick flowers, choosing the venue, and hiring a caterer.
- Repair shops
Everyone would have gotten something broken at some point. Whether it’s a phone repair, watch repair, appliance repair or whatnot that you’re eyeing, you need to be able to plan, start slow, and build your customer base according to recommendations and referrals from your existing ones on the basis of doing your work well and only going after quality workmanship.
- Printing businesses
You can use desktop publishing software to lay out and print personalized shirt designs, button pins, lanyards, and mugs. There are many businesses like this already; what will make you stand out is good design skills, plus unique and creative thinking. You also need a good customer base that will provide you with more business.
- Flowers and gift services
Although such businesses are seasonal, you can make a killing out of your venture when you’re smart with your timing. If you do it right, your earnings will be enough to cover your earnings for the entire year. You should go all out when the demand is high like during Valentine’s Day, Mother’s Day, All Saints’ Day, and the like. You also need to get good suppliers that will always give you a fair price and help you make a profit.
Anything related to beauty would be popular and lucrative. But since the market is already saturated, you need to step up your game and do something that will make your biz stand out. An example would be to go homebased, so you don’t need to rent a space. Generally, you need to have some experience in hairstyling, make up, mani and pedi, or facials. Another way to stand out is to venture into extremely specific things – like doing microblading for eyebrows or only doing special effects make up.
There are so many businesses that you can do online. You have so many options that can make your head explode! But whatever you choose, it will all boil down to how committed you are. You need to exert time, effort, and resources to make it work. Selling online? It takes a lot of patience. Drop shipping? You need hard work for that. Social media marketing? Consistency is key! You need to have all of these traits because not only do you need people’s attention; you also need to keep them engaged as attention spans have turned staggeringly low.
No matter which business you choose to start this 2020, you can turn to Blend PH for financial assistance. Allow us to become your business partner as you start doing something great this year!
Visit https://blend.ph to find out the financial options available to you.
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