There are many profitable businesses anyone can start in Manila, Quezon or anywhere in the Philippines, but capital is often a major challenge as with many other places in the world. Last year the Bangko Sentral ng Pilipinas raised the benchmark rate by 50 basis points to 4.5%, the highest recorded since 2009.
Even though this is lower than interest rates in many other countries like Nigeria (currently at 13.5%), not every aspiring Filipino entrepreneur is able to access loans to start a business in the Philippines.
Thankfully, there are now several profitable online businesses you can start with as little as $0-$100 and start making money almost immediately. And the best part; they are businesses you can do with your online using your desktop, laptop, tablet or smartphone.
In this post, I’ll be highlighting 4 such businesses so you can make your pick and learn some more about the business of your choice, but first…
What is an Online Business?
Online business is simply any business done online over the internet. As long as you have an internet enabled device and internet connection, you can do online business.
40 Profitable businesses you might be interested in
- Accounting Specialist
- Online Advertising
- AI Expert
- Affiliate Marketing
- App Creation/Development
- Baking Expert
- Big Data Analyst
- Binary Trading
- Chatbots Creation
- Content Creation
- Cooking Recipes
- Customer Service Agent
- CV Writing
- Dance Instructor
- Data Entry
- Digital Marketing Consultant
- Domain Flipping
- E-commerce Importation
- Facebook Marketing Consultant
- Facebook Messenger Automation
- Flight Booking
- Foreign Admissions Consultancy
- Forex Trading
- Google Ads Specialist
- Game Development
- Graphics Design
- Landing Page Design
- Instagram Marketing Consultant
- Machine Learning Expert
- Music Instructor
- Personal Fitness Trainer
- Photographer, and many more
And here are…
10 Reasons Why You Should Start an Online Business Today
- Low entry barrier
- Low startup cost
- Ability to work 24/7
- Work from anywhere
- Unlimited earning potential
- You’re your own boss
- Anytime vacation
- Plenty of work to choose from
According to TMF group in a recent article about starting a business in the Philippines:
“There are massive 16 procedures to navigate when starting a business in the Philippines, taking an average of 36 days to complete. The long and arduous nature of setting up a corporate entity has placed the country 161st in the World Bank and IFC rankings, which is a good indication of how complex the process is.”
With an online business, you skip majority, if not all of these processes.
Now here are…
4 Online Businesses Filipinos can start between $0-$100.
Dropshipping business runs on a retail fulfilment model. With dropshipping, you sell other people’s products without needing to buy physical stock or keep inventory.
Here’s how dropshipping works:
- Create a webstore or e-commerce store, e.g Shopify
- Install certain dropshipping automation apps like Oberlo
- Obtain product pictures/images from suppliers on AliExpress, for instance, and display in your online store
- Market and advertise your store e.g with Facebook Ads
- Customers visit your store and buy from you at your own price which you decide
- You keep your profits and forward the cost price and customer details to your suppliers
- Your suppliers kit, pick, pack and ship products to your customers anywhere in the world.
Isn’t that cool? Everything literally is done for you, all you have to do is market and market. To succeed at it, you have to learn more about how dropshipping works, startup cost and how to make thousands of dollars from dropshipping hot selling products.
You can start this as a side business and keep tabs on your store through your smartphone, to track sales and customer communication.
Blogging presents another wonderful online business opportunity for Pilipinas. As with dropshipping, blogging can also be very profitable and requires very little to start.
If you have niche knowledge about any thing, you can start a blog writing about such topics and things that interest you. It could be about
- home improvement,
- international relations,
- Kung Fu,
- school, technology, etc.
As long as you have expert knowledge or experience, you can make money blogging. Most bloggers didn’t have niche knowledge but they had the interest and set to acquire the knowledge.
All you need to start blogging is a website and a topic/niche. Neil Patel’s blog is a great place to learn about blogging and how to write an effective blog post, plus how to monetize your blog.
3. Forex Trading
Forex is a $5.1tr a day industry that trades foreign exchange as currency pairs. Banks, individuals, businesses and institutions all participate in this large but volatile market.
Unlike dropshipping and blogging, forex trading carries a considerable risk of losing all your funds, and should not be entered into unadvisedly. There are many online resources that teach forex trading basics.
Because it is highly risky, it can also be very profitable. You can either lose or make a lot of money in seconds, minutes, hours or days, depending on your trade duration. There are many reliable brokers like FXPro, Alpari, FXPrimus, etc. Because of the high-risk nature, Forex Brokers are highly regulated. Make sure you only trade with platforms that are regulated.
Most brokers now operate PAMM accounts which allow trusted forex experts trade on your behalf for a small commission. You can start with even $50. Profit/loss is shared among all investors who contribute equity.
4. Online Tutorials
If you are a niche knowledge expert or even retired school teacher, you can earn a good, recurring income by delivering online lectures or tutorials.
With the rapid expansion of the internet, more and more people are seeking for knowledge online. If you have such knowledge, then they’re looking for you.
Platforms like Udemy, Tutera, Eliademy, etc, allow tutors to create and upload tutorials for students and learners across the world. If your courses or tutorials are loaded, well crafted and delivered you can have good ratings which are a good thing in such knowledge marketplaces.
There are so many online businesses you can start in the Philippines. Do not let paralysis of analysis cripple you. Take action today to learn more and see which works out for you.
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- Profitable businesses Filipinos can start between $0-$100 - May 31, 2019