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Superb Business Concepts for Filipino Entrepreneurs this 2014

According to a Chinese proverb, “Pearls don’t lie on the seashore. If you want one, you must dive for it.” And it’s true, if you don’t take any risks, you will most likely not get anything worth having. So this 2014, you should learn to gamble and seize opportunities. How exactly? Well, how about becoming your own boss? According to a news article, more doors are opening for Filipino entrepreneurs this year. So why don’t you try and take a whack at some of them. Below are some business ideas that you might find interesting.

Mini Mart

With the growing BPO industry in the country, more and more young professionals are looking for new shops to raid during breaks and after shifts. Small shops that offer food and beverage as well as any random stuff that young professionals might need such as toiletries, school supplies, clothing or books. If you’re thinking of trying this out, make sure to choose a favourable location. Somewhere in prominent business processing zones or near them would be a great choice. Moreover, having round-the-clock store hours may also be a good idea. For this venture though, it might be best to also conduct some form of feasibility study, just to find out if the location you’ve chosen really does need another retail store. The study may also help you determine which products the target market may be inclined to purchase, helping you know which items to stock up on.

Filipino Restaurant

A-dish-of-fresh-lumpiaEating is one of the favourite activities of many Filipinos. So, of course, a business that would be offering food would be one of the top choices for entrepreneurs. However, just because Filipinos love eating, that does not mean they will just accept anything that’s declared edible. As a matter of fact, many Filipinos have very discerning palates and are actually not so shy about declaring their opinion about a dish or a food place. So what should you do if you decide to put up a restaurant serving Filipino cuisine? Well, come up with a great dining experience. Don’t just focus on the food, but also think about the interior décor, ambience and the quality of service. More often than not, people don’t mind paying a little higher than your food may deserve if you can also provide them a lovely dining experience.
Water Refilling Station

Not that the country’s water provision is really unclean, but people are just increasingly wary of drinking tap water these days. It could be because the country has witnessed the devastating effects of water-borne diseases or it could just be because people are becoming overly conscious of their health. Either way, you are bound to have a ready target market for this kind of enterprise. You just have to make sure that your distilling or purifying system really works and there’s not a lot of established competition around your area.

Mobile Development

Another great idea for a start-up or a small business is one that takes advantage of popular trends today — namely the internet and mobile technology. According to a DOST article , the IT industry has grown significantly in the past few years and this trend is expected to continue until at least 2016. Also, mobile devices have taken the country, and the rest of the world, by storm. Gadgets such as tablets and smartphones have become quite common and everyone is always connected to cyberspace through them. As a result, developing mobile apps and mobile websites are quite in demand these days. And you wouldn’t be short on talented workers either since more and more students are taking up information technology and many professionals are even becoming interested in coding and programming. To ensure that your enterprise prospers, just make sure to take care of your team, have an office space with a great business address, and you’ll be good to go.

Aside from the business concepts above, you might consider putting up an electronics shop, a novelty bakeshop, an online clothing store or an event planning business instead. Whichever business idea you might decide to pursue, the important thing is you take that first step and make that required leap.