After living in the Philippines for nearly 3 years, I’ve come to understand a lot about Filipino culture and their way of living. I’ve also conducted several seminars and spoken at many events while meeting lots of different people from all walks of life.
From all of this, I’ve learnt there’s a handful of small business opportunities that are really doing well in the Philippines. Of course, each country has their own advantages and disadvantages. Some business ideas may work, some may not.
In this article, I’ll be sharing with you some of the best small business ideas you can start in the Philippines. These ideas are also based on the upcoming trends and opportunities that are currently booming in the Philippines and people should be taking notice right away.
Great Small Business Ideas In The Philippines
Just like in a company where a CEO has a personal assistant to assist his/her various tasks, a virtual assistant does the same thing also. A virtual assistant is hired to do the same tasks as a personal assistant would do, respond to emails, research information, book accommodation, book flights, maintain sites etc.
Virtual assistant or VA for short, is booming in the Philippines. The main reason for this is the public awareness of having an affordable person working for you. Many books such as “The 4 Hour Workweek” by Timothy Ferris covers this concept immensely.
Many business owners are being inundated with so many tasks and finding it difficult to catch up. By hiring a team of VA’s outsourced in the Philippines, businesses can reduce their expenses (or investments) by over 50%.
Hiring staff in Australia could cost around $30 per hour which is P1,200 per hour. However if you hire staff in the Philippines, the cost is substantially smaller, it’s around P200 per hour which is $5 in Australia.
This opens a huge opportunity for the Philippines and also for countries outsourcing. It’s a Win/Win scenario.
With the boom of major call centers popping up all over the Philippines, many people who used to work in Call Centers are now starting their own one in house. All it takes is a computer, microphone and good training.
Combined with a wide range of technologies at our disposal and affordable prices to setup a call centre in the province, setting up a call centre is a dream within reach.
It is advisable to know the industry and to have experience within it. Many companies are trusting their brand with you and expect great customer service. Therefore, proper training is necessary to ensure you deliver the best results for your clients.
Call centers or BPO industries in the Philippines is a billion dollar market. Securing just one account can translate to tens of thousands of dollars.
Real Estate and Consulting
Just recently, Donald Trump and Hilton has started developing properties in the Philippines. Everywhere you see in Manila, you’ll see buildings being constructed, condominiums for sale and more.
There’s been a huge boom in real estate and consulting in the Philippines. Many people are becoming real estate agents and selling properties online and offline. By selling one property, you earn huge commissions, which translates to around 6 months pay for the average Filipino worker.
Although the Philippines is booming in real estate, there is the fear of a real estate bubble that may burst. There are no statistics that support this case at this present moment but it’s always smart to have a back up plan if you’re an investor.
Learning how to sell Real Estate is a powerful skill to have. If you’re an excellent salesman, you’ll become so successful beyond your wildest dreams. The ability to sell is the cornerstone of a successful business, if you’re good at selling and you build up your skill in this area, you can start any business and sell any products/services you desire at any price.
All companies, corporations and businesses all require IT support. They need someone to help setup the networks, build the website, design logos, build a brand, create a social media campaign, create internet marketing pieces and more.
There will always be a need for IT experts and the Philippines offers the same skills offered all over the world but at a lower price point. Once again, outsourcing to the Philippines is a great move.
If you’re good with IT, know how to build a website or any other skill with the computer, you’ll be able to find work online and offline.
Last Word On Small Business
If there’s one thing I’ve learnt in the course of my years in business, it’s the fact that time is very short. Work will take a large portion of your time and it’s really important to do something you love doing.
If you’re starting your journey in business, my recommendation is to find something you’re passionate about and love to do.