Let’s face it, working a full-time job can be exhausting, not to mention the stress of daily commutes. Today, with the promising growth of the business sector, many people are leaving their jobs and focusing on establishing their own businesses.
Small and start-up businesses in the Philippines will boom in the coming years. In fact, as much as 53% of small business owners aim to boost revenue and staff growth in 2019. That’s an increase from 46% in 2017. Plus, the number of entrepreneurs planning to hire more staff heightened from just 9% to a staggering 22% in the same year.
But, with so many small business ideas this year, it can be quite hard to figure out what’s worth pursuing. Remember, knowing what’s trending in business can help you become profitable and at the same time make sure it can last for the long term.
If you’re dreaming of setting up your own business this year, you’re in luck — we have rounded up the best trending business ideas.
1. Web Development
Have you ever tried creating a blog or website? If you’re into this business, it’s a good move this year. The internet is considered a very competitive market. In fact, there are 1.3 billion websites across the globe, hence, you’ll expect many potential customers who’ll avail of your services.
With more than 3.81 billion internet users spanning the globe, providing web development services for businesses and various markets is a good business idea in 2019. They want to establish an online presence to reach potential customers, but not everyone has the knowledge, skills, and patience to create a well-designed website. Creating business websites is in-demand and you can work with clients from all over the globe.
Online shopping has gained immense popularity over the past years. The millennials, who are now the largest living generation on the planet, spend about $600 billion each year. In 2020, millennials are likely to devote roughly $1.4 trillion, representing 30% of the total retail sales in the country. Moreover, at least 2.14 billion people worldwide are likely to purchase services and goods online in 2021, which is higher than 1.66 billion global digital buyers in 2016.
Starting an e-commerce website is more convenient and hassle-free compared to creating a physical store. Since it’s accessible, you can expect more customers, and in turn, your business will boom and gain more profit. This year, investing in e-commerce can spell success for entrepreneurs.
3. Financial Advising
The services provided by financial advisers and planners are expected to boost with a growth rate of 30% by 2026. Many people, from both the business and corporate world, want to become financially literate. They want to learn the ropes of properly managing their finances.
Thus, they will seek out the services of reputable advisers. Investing in a financial advising firm is a good move this year with many business opportunities to profit from.
Have you decided on what business idea you want to try? Studying every possible opportunity for business is crucial to properly and wisely invest your hard-earned money. These latest business trends will help you determine what best suits your interest, preference, and capital.
Do you have more trending business ideas in mind? Share your thoughts in the comments section below!