Ramon Martin P. Revilla Professor Jorge Saguinsin
MBA Standard SP Entrepreneurship S10
Ateneo Graduate School of Business September 16, 2013
Potential Business Opportunities in the Philippines
It's no wonder that investors are pouring in for the Philippines in the last five years—with a steady positive economic growth, stable government and overflowing workforce, today is the best time to start your own business in the country. Starting your own business is no easy feat—you have to have ample capital, right suppliers and market so that once you are ready with your product or service, ROI is easily attainable. Here are several business opportunities that might give Juan Dela Cruz a good start:
Virtual offices, in layman's term, virtual offices are a "mobile or remote work-environment equipped with telecommunication links and basic office furniture, but without a fixed office space." In the Philippines, this is a fairly new concept and though it is more expensive to set up than a retail or grocery store, there are emerging clients in this industry because the clientele is mostly foreign businesses. In setting up a virtual office, it has to be in a prime location, with top-of-the-line facilities and equipment's and knowledgeable virtual office assistants. Having these three requirements require sufficient capital so might want to have other partners.
Philippine Tourism is widely promoted since the Department of Tourism released its "More Fun in the Philippines" campaign in 2012. And since then, local and foreign tourists are flocking to different beaches and trying out new adventures that every Philippine province has to offer. Because of this, tour and hotel accommodation packages are a booming business and as early as today, you should take advantage of the situation because for sure, this will only get bigger in the years to come.
Philippine Coffee industry, the Philippines is the largest coffee drinkers in Southeast Asia and if that does not give you a clue on what should your business be this year, then, it's about time to wake up and smell the coffee.
But the focus here is not about establishing your own café, rather, focusing on exporting coffee beans. The Philippine soil and climate is ideal for planting different varieties of coffee; but the downside is, prices of land gets higher every year; so as early as today, invest in land and plant coffee.
Investment brokering, like I mentioned earlier investors are pouring in and they are going to look for potential moneymakers that will help them broker deals. Setting up an investment-brokering firm should be your obvious choice if you have experience in investment banking, brokerage, etc. This is also good business because there are many aspects that you can choose from including foreign exchange, real estate, stocks, corporate papers and insurance.
Above all these opportunities, what is important for entrepreneurs are their passion on what business they would pursue. Business opportunities can determine success rate, and show potential profit but without interest and passion on what you do it would not be sustainable. Innovation with passion leads a stable and growing business. < hi Martin please submit something new that came from your creative imagination/insight, yung pagkakaperahan>
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