If you’re looking for new business ideas to start here in Philippines, there are a lot of new opportunities you can choose from. If you want to become your own boss, this is the perfect time to make it happen! Wake up that entrepreneurial blood sleeping in you.
To help you ease your selection process, provided below is a list of business opportunities you can start. You just need to choose what opportunity best fits you. Next is to work your way to hit your business goal this 2018.
Based on the latest statistics, the top industries in Philippine economy last 2017 are the following: Construction, Manufacturing, Tourism, Hotels & Restaurant, Gaming, and Recreation.
DOLE also released a list of in-demand and high paying jobs for 2018. IT sector, social media, and other software development related jobs are still very lucrative. If you got expertise in these fields, you definitely got an advantage.
Knowing these top industries, you can narrow down your choices of businesses with higher chances of profitability and success. Without further ado, here are the best small business ideas you can start in the Philippines this 2018:
1. Food Business
There’s no doubt, Filipinos are food lovers. This is a good opportunity if you want to delve in this business. You have a lot of options if you want to start your very own food business. It depends on your initial capital, location, and your target market.
For low cost food businesses, you can start at the comfort of your home. If you got mid range capital, you can go for things like food cart. For restaurants and cafes, be ready to invest larger startup capital.
The basic idea is to start a food business that already has a market. If you’re a risk taker, you can experiment with different food concepts. However, if you want to earn fast, you can utilize what’s already working.
If you want to check out different Filipino food business suggestions, you can read: Profitable Food Business Ideas in the Philippines
2. Online Business
One of the best opportunities you can grab with very low monetary investment is starting an online business. While it takes time to learn the technicalities and ins & outs of things, the returns you can get from this business is huge.
Setting up your website, social media marketing, and other free promotional strategies online can actually give you an enormous source of income. You can sell products online, provide services, do coaching, and many more. It’s up to your chosen niche.
If you want to know more about internet businesses or other things you can do online to earn money, you can check out these articles:
- Online Business Ideas You Can Start In Philippines
- Legit Ways to Earn Money Online in Philippines
- How to Earn P30,000 Monthly With Blogging
3. Start a Laundry Business
One of the hardest and tiring chores at home is washing clothes. This is why many people look for laundry services from lavanderas to wash their clothes for them.
People get busier nowadays and washing clothes can really become a time-consuming task. It’s a good opportunity for us business minded individuals to offer solution that solves this need.
The key in starting a profitable laundry business is to get a good location where your target customers are residing. Average earners and above are the ones who usually go for these kind of services.
Finding the right washing machine for your business is also vital. You need to have the right equipment with you. It should be able to clean clothes at any given time. You can search online the most trusted brands business owners use for their laundry business.
4. Online Selling Business
There are a lot of ways to sell stuff online. All you need to do is to find a market that has sufficient demand and a supplier where you can get products for low price. You can start your market research on forums, Facebook groups, blogs, online shopping sites, and other channels.
I previously wrote an article where I shared our experience selling perfumes online. We turned our offline business to a successful online selling business. If you want to know more about it, you can check it here.
I’d like to give an update regarding the status of my sister’s perfume business. We tried selling products in different online platforms such as lazada, olx, and etc. As of now, the major sources of customers are coming from Facebook and Shopee. You might want to start on that too.
5. Graphics Design
One Graphics Designer shows his income in Upwork, one of the most known third party online jobs sites in Philippines. He earns a lot from every project he is doing. The figures sums up to 6 digits monthly. This just proves how lucrative Graphics Design business is.
If you’re skilled in doing graphics design or wanted to become a graphics designer, there’s a bright future ahead of you. You can’t go wrong choosing this field because there will always be a demand for graphics design works.
Setting up your business doesn’t require much. As long as you have a laptop or desktop with graphics card that can handle your tasks, you’re good to go. Typical software such as Adobe Photoshop and Illustrator are also essential in graphics design industry.
There are different Graphics Design services you can provide. However, it is recommended to choose a niche where you can specialize so you can earn more. Here’s a reference of different graphics design services you can choose.
6. Construction Related Businesses
Construction works keep on growing every year. This is a good opportunity for those who will dive into this industry. If you’re clueless about this business, you can start by looking for connections and learn from that.
You can actually earn big through referrals. You just need to have an agreement with construction firms or contractors, negotiate things, and start giving them clients. At minimal cost, you can actually make a living.
If you’re good managing projects, you can become a contractor yourself. First thing to do is create your own construction team and get as many connections as you can.
You can also work on the supply end. You can supply construction materials, electrical supplies, and even the furniture. Imagine having a wide network of contractors and you supply all their construction needs, that’s really a big business.
If you still don’t have the capital to buy supplies, no worries. You can start by acting as a middleman connecting construction firms with suppliers and make money through referrals and commissions. Once you have the money, you can now build your own construction supply shop.
7. Recreational Businesses
Many Filipinos are becoming more conscious about their health. Because of this, many are engaging into different kinds of recreational activities. Whether it be biking, going to the gym, playing badminton, or whatever sports people do, these are all opportunities for us business minded people.
If you are into sports, you can dive in these lines of businesses. There are a lot of sports you can choose from. It’s just a matter of love for the things you do. You just need to know your passion. Find where your heart really is then start your business from there.
If you are adventurous, you can start a business around things like mountaineering, traveling, spelunking, trekking, paragliding, and things alike. You can sell products, gadets, consumables, accessories, tools, services, or anything that are inline to your chosen niche.
8. Website Development
If you’re into web development job before, you might want to take it to the next level. Create a portfolio of your own web development works and market your business to different marketplace.
Selling your own services is much profitable as compared to working under an agency or company. Working schedule is much flexible and scaling the business is much easier.
You can start as a simple freelance web developer while still in your day job. If you’re planning to move to the next level, you can develop your own workflow and build your own web development agency.
For more tips on how you can make the most out of your web development business, you can check these articles:
- How To Make More Money with Online Freelancing in Philippines
- 8 Tips To Earn More Money as Independent Web Developer
9. CAD Business
If you’ve been working for a company for quite some time now, better move to the next level. You can demonstrate your skills and professionalism through your portfolio. You can also get certifications for whatever line of works you are in.
To start your CAD business, you need a computer with fairly high screen resolution. Computer’s processor and graphics card should be enough to do complex calculation and design instructions.
You can start your CAD business from home. There are opportunities to work for local and international clients that need your services. Civil and architectural works, interior designers, fabrication shops, machining shops, and construction firms can give you regular source of income.
10. Travel Related Businesses
If you love traveling, why not start a business around it? It’s a win-win situation. How about running a business while traveling the world? This has been many people’s dream. You just need to work your way and strive hard to become successful at it.
One of the best things you can do to get started with your travel business is to blog about your own experiences. One way to earn is through affiliate commissions by promoting travel packages or travel gadgets and accessories. You can even start selling your own products and services.
You can check these posts how to create your very own blog.
I’ve seen a lot of travel bloggers who started their blogs as hobbies. Because of their passion for what they do, they’re now having their own travel agencies and other travel related businesses.
As long as you love what you do and you keep on grinding and praying, things will eventually fall into their proper places.
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