Financial Blog

The number of registered online businesses in the Philippines surged more than 40 times in the past five months as people turned to the Internet for income amid one of the world’s longest lockdowns. Due to the pandemic, online business plays a key role that makes people think about how they can future proof their income.

Why Should You Start an Online Business Today?

Starting a new business online has a lot of advantages. It also has less risk because you don’t need that much capital. You can also reach more potential customers online because almost all of us are on our smartphones and desktops. Starting an online business will help you in improving your business brand visibility, traffic, and sales. 

If you’re quietly contemplating the idea of starting something of your own, here’s a list of the best small online business ideas.

Online Business Ideas

Set-up an Ecommerce Store

We could all use a little extra money here and there – and creating an online store is a perfect way to bring in some additional income. Online retail is a booming business. There’s a lot to do when you’re first figuring out how to start an ecommerce business. It can seem overwhelming to take that first step, but it doesn’t have to be.

Sell your Hobby (Art, pastries)

We’ve all got hobbies! But we don’t typically make money from it. You might want to take it seriously enough and become your stream of income.

Print/Design Demands (T-shirts)

Express your creativity and sell shirts online. However, not all of us are cut-out for the operational work that comes with starting a t-shirt business. Some of us simply want to design and sell shirts without worrying about production, delivery, and such. Everything from printing to delivery is handled by shirt.ly, so all you have to worry about is designing and selling. This business makes a great online business for new entrepreneurs.

Dropshipping

It is an order fulfillment method that does not require a business to keep products in stock. Instead, the store sells the item and then forwards the sales order to a third-party supplier, who fulfills the order to the customer. It’s also a great way to get started in business because you can sell to customers without holding any inventory. You do not have to pay for products in advance. And if you’re serious about your new venture, you can build a sustainable source of income in the long run.

Be a Vlogger

Start a vlog and earn money by selling products to your audience. Making YouTube videos will not only help you tell better stories and provide more valuable content to your audience, but it will also help you get profitable speaking opportunities.

Tutoring

Tutoring gives you incredible job flexibility. When you tutor, you have an impact on the lives of students and help them achieve academic success. Tutoring also allows you to manage your schedule and set your rates.

Real Estate Broker

You can act as a middleman between buyers and sellers to ensure a smooth transaction. Create a strong client base by assisting them in the purchase and sale of commercial and residential properties. You can also put together a small sales team to approach customers more effectively.

Freelance Developer

If you have coding and design skills, creating mobile apps, websites, and other digital products can be profitable. All you need are your skills and a good laptop or computer.

Digital Marketing Agency

If you enjoy strategizing and implementing plans, digital marketing may be the right business for you. Because digital marketing is an important part of a brand, you must respond to developments in your clients’ marketing strategies. Everyone, from small businesses to large corporations, requires assistance in getting their message out on social media.

Business Blogging

Not only does blogging increase website traffic and promote your products and services, but also helps you build trust with potential customers. It is a marketing strategy used to increase your company’s online visibility. A business blog is a marketing channel that helps in business growth. It can actually be the driving force behind a number of different businesses.

Become a Virtual Assistant

This is one of the best home-based online business ideas. As a virtual assistant, you would answer emails, write content, and perform other tasks for businesses. The role can range from data entry to the researcher, so be willing to try new things and learn new skills while getting paid.

SEO Consultant

One of today’s hottest jobs, and a gold mine for tech-savvy entrepreneurs. If you are an SEO expert, you may want to consider offering your services to other businesses rather than working for a company. You will need to invest in marketing, education and business organization in order to reap profits from the business.

Graphic Designer

If you’ve always imagined yourself as a commercial artist, this might be the business for you. Design is a skill that many businesses can acquire, but only the truly gifted graphic designers can take it to the next level. With today’s great software, you can create logos, letterheads, brochures, product packaging, and mail order catalogs — pretty much anything that requires a design.

Become a Transcriber/Translator

If you are gifted with more than one language but do not want to teach others, try translating. Consider starting a small business to monetize your skills.

Buy and Sell Domain

Whether it’s your domain, or whether you’re looking to buy someone else’s site and flip it, this can be a good source of online income.

ESL Teacher

Dreaming of being able to control your teaching schedule, work location, and even your hourly class rates as a teacher? Good news: it’s all possible if you work as a freelance online English teacher.

Content Writing Services

Commercial enterprises understand that publishing relevant web content is the best way to connect with the majority of online users. Given the rise of content marketing, blogging, and social media, it appears that the demand for good writers will continue to rise. It may seem incredible that a significant number of people make a good living writing freelance. Your earnings will be determined by your skills, ability to market yourself, and the economics of the writing niches in which you choose to specialize.

Be a Personal Shopper

If you enjoy shopping, you might be able to turn it into a business by offering a service to those who don’t have time (or don’t enjoy) doing their own. Personal shoppers are paid to shop and run errands for clients who require assistance in purchasing various items. Some skills will be required depending on the type of errand service you provide. Your success in a personal shopping business is determined by how well you can persuade people of your value.

Payment Center Business

Customers can pay their bills at payment centers. Payments made through payment centers include utility bills, phone bills, medical bills, and collection bills. Customers use payment centers to avoid mail delays and late fees, as well as for convenience. They are available both online and in physical stores across the country.

Pro’s and Con’s

Pros of Online Business:

You might consider and realize the good sides of online business. It gives you a big help to understand and measure your capability if you are ready to take another step for this.

1. One of its great advantages is you get to work at the comforts of your own home.
2. Become their own boss.
3. Flexible working time.
4. Cost savings.
5. Great opportunities to manage your business from anywhere.
6. Greater customization.
7. Greater reach.
8. Ability to adapt.
9. Potential income.

Cons of Online Business:

It’s not all smooth sailing for online operations, sometimes you may also face some distinct disadvantages. Knowing how to address and handle this kind of situation will increase your chances of survival.  

1. Lack of credibility.
2. Customer service challenges.
3. A High volume of competitors.
4. Poor internet connectivity.
5. It may be hard sometimes to guarantee the quality of the product.
6. Online reviews: unbiased feedback.
7. Lack of interaction.
8. Huge risks for security and credit card fraud – online scamming.

How to Start an Online Business?

Starting an online business in the Philippines is as easy as starting a traditional one. However, the country recently made a lot of strict regulations regarding online businesses adding more steps to them. This article doesn’t go into a step-by-step guide into starting a business but don’t worry, here are the details you can take note of and a recommended blog might help you further.

1. Think of an online business you could start or select from our list above.
2. Secure suppliers if needed.
3. Register your business in DTI, SEC, and BIR. (Read more: How to Register your Online Business in BIR and DTI)
4. Create a website or social media pages.
5. Promote your online business

Read more: Tips on Starting Your Own Business

Final Thoughts

These ideas and insights about online business are only some of the many ways you can make money online. Think twice and make sure to research the venture you want to start and study your market. Research is important before starting an online business at home.