Even before last year was put out to pasture, market analysts from different industries were forecasting 2017 to be one of the worst years in our history. But trust me when I state that you will have great opportunities for best small business ideas in the Philippines for 2017!
Whether your enterprise fared well last year or not, remember that there will always be an opportunity for business. You can choose to switch enterprises or diversify to improve or change your value proposition.
The key is to have an open mind so you can find opportunities when they present themselves.
To guide you, I have made this updated list of the best small business ideas in the Philippines for 2017. There are quite a few additions which I feel present themselves as viable options for you.
Best Small Business Ideas in the Philippines for 2017
1. Virtual Assistant Business
Virtual assistants, freelancers, telecommuters or home-based workers. They all mean the same thing. Professionals who get paid to work from remote locations.
More and more people are getting into virtual assistance work because demand for these services continues to remain sky high. Companies outsource work to virtual assistants to streamline costs while generating income. The Philippines is a hotspot for virtual assistance talent!
If you’re proficient with the computer, the Internet, spreadsheet, and word processing software and your level of English is good; you can have a good career as a Virtual Assistant.
Be ready to invest in a good desktop PC, headset and subscribe to a reliable Internet provider.
2. Blogging Business
Are you a good writer? Do you believe you have the chops to create compelling content? Then consider blogging as one of the best small business ideas for you in 2017!
There is high demand for blogging services because content marketing is fast becoming the preferred online marketing strategy of many companies. But businesses prefer to outsource content writing to save money.
Writing is one of the fastest moving jobs in online work platforms such as Upwork, Freelancer, and Guru.
3. Software Development Business
Did you hear about the teenager who taught himself how to design apps and was paid $30 Million by Yahoo! for a news app he made for the company?
Maybe not everyone can be like Nick D’Aloisio, but the fact is, businesses are always looking for apps that can push their company ahead of their competitors.
If you have an idea of what kind of app can service the needs of the general population, then you could have a goldmine in your fingertips.
4. Tutoring Business
More parents are looking for tutors for their kids because they have less time to attend to their educational needs. Traffic, the high cost of commodities, spiraling gas prices are among the few reasons parents are working harder than ever to make a living.
If you enjoy teaching children, have a knack for giving instruction and academically qualified, you could have a windfall of clients as a tutor.
Most tutorial centers only focus on the fundamentals of Math and English. Parents want tutors who can guide their children in their homework and when preparing for exams.
5. Gym/Fitness Center Business
A 2014 study showed that budget gyms were beginning to account for most of the memberships in the fitness industry. If you look around your neighborhood, you may find a new gym or fitness center opening up.
These budget gyms only charge 50 Pesos per workout or 500 Pesos for a monthly membership. Many of them are packed during the early mornings and late afternoons.
The cost of setting up a budget gym is lower because treadmills and stationary bikes are becoming relics. Most people prefer to do functional training to get fit.
This means you can have a serviceable gym with barbells, dumbbells, kettlebells, medicine balls, yoga mats and a few pieces of jump rope.
6. Coin Laundry Business
I saw the first coin laundry in 2015. Now they’re all over the metropolis. There’s even one that offers franchising packages.
For those who have traveled abroad, the coin laundry is a mainstay in motels and in the city. But the concept is very new in the Philippines. The coin laundry business has caught on because it is a cheap way to get laundry done and it appeals to those who put in long hours at work or school.
This can be quite capital extensive, but you can try to negotiate a lease program or a monthly cash payout with an equipment supplier.
7. Bakery Business
I’ve said it before: Filipinos love their carbs! It’s so hot in the Philippines that we just sweat out all the calories from carbs before they hit our waist!
A bakery has been a traditional small business idea in the Philippines because there is a steady market for it. Pan de sal, coco bread, Spanish bread and Pan de Luma are standard breakfast and merienda fare.
It also does not require much capital. All you need is a reliable oven and packaging materials. Spoilage and wastage are very minimal because bakers prepare only what they can sell for the day.
8. Photographer/Photography Business
If you have an eye for beauty, human interest stories, and still life, photography can be a lucrative career.
There are many types of work available for photographers: fashion, food, events, portraits and print ads just to name a few. But the required investment can be considerable.
Professional digital cameras can be expensive. In addition, you have to buy lighting equipment and photo-editing software. But if network hard and get into arrangements with event planners, publications and big companies you could have steady work for the year.
9. Convenience Store Business
Convenience stores are often referred to as a Sari Sari store in the Philippines. But the ones I’m referring to are different.
The stores are built out of concrete, they have more storage space, offer more products and services, and some have a built-in technology. But the prices are not much higher than Sari-Sari stores.
These are becoming more popular because they are cleaner and can sell merchandise in volume. They are also more profitable because they run more professionally. They do not honor credit and allow family and friends to take advantage of them.
10. Load Retailer Business
Load retailing will always have a steady, growing market in the Philippines. All you need is a cell phone. Once you register as a load retailer from any of the local carriers, you can start your business.
The margins in this type of business are not high. Expect to earn from 5% to 10% on every load you sell but then the costs are low. Don’t believe anyone who says you can be a millionaire selling a load.
But this can be a good side business to help you pay off some bills.
11. Real Estate Agent
All you need is to land 1 deal to get a large payout. That is the allure of getting into the real estate business. Agents can earn up to 3% of any property they sell. If you are able to sell a house for 20 Million, you will earn a commission of 600,000!
First, you need to take up 120 hours worth of classroom instruction from an accredited real estate training center. Then you need to pass your licensing exam from the Professional Regulation Commission or PRC.
A big part of the job is networking. You have to build your property and leads list.
12. Digital Marketer/Digital Marketing Business
Internet marketing has rendered traditional marketing obsolete. Businesses are looking for talent who can design and implement an effective digital marketing campaign for them.
If you have an understanding of web development, SEO, social media marketing, PPC Advertising, link building and content marketing, you could have a busy career as a digital marketer.
On average, digital marketers charge $500 to $1,500 for basic services. They net approximately half of that after they’ve paid off other team members. If you can land 10 clients, you could have a job that pays out 100,000 Pesos every month!
13. Fruit Stand Vending Business
This is another fast rising small business idea in the Philippines. Fruits have always been popular with Filipinos but more so today perhaps because it is summer or we all just want to get healthier.
You don’t need a large space as a fruit vendor but you should have a reliable supplier of fine quality fruits. With good inventory controls and forecasting, you can limit your rate of wastage and spoilage.
14. Internet Shop Business
If there is an inflation-proof business, it would be the Internet shop. It doesn’t matter if your neighborhood has 5 internet shops in a row. They will have a good business.
Filipinos love video games and Facebook. For 40 Pesos an hour, it’s a good deal for consumers.
This is another capital intensive business but there are computer suppliers that offer a lease to own programs which make it easier to put up the Internet shop.