Why is Online Business in the Philippines Good in a Pandemic?

In these difficult economic times, having an additional source of income can help you remain afloat or make ends meet. In the event that you already have an emergency fund in place and a substantial sum of money in your bank account, it makes sense to look for ways to grow your money, such as starting a business.

The task of starting a business in the middle of a pandemic is not an easy one. The current limits may prove to be a stumbling hurdle to your future success. Although a pandemic is a terrifying prospect, any business may survive with the proper knowledge and preparation. All you have to do is learn to adapt.

Related: The Advantages and Disadvantages of Online Businesses

What are Online Businesses in the Philippines?

Here are some examples of online businesses in the Philippines.

Art Buying and Selling

An art business is defined as the practice of selling art to collectors or accepting commissions for original works of art. People purchase art because it has an emotional impact on them. It is also a sort of long-term investment for collectors who regard art as a valuable commodity to be accumulated over time. 

Even if the global art market is expected to decline by 22 percent in 2020, budding digital artists are still earning thousands of dollars through virtual auctions each year.

Mobile Coffee Shop

Selling coffee out of a truck, van, or any other type of vehicle is acceptable. Filipinos are expected to boost their coffee consumption by 32 percent over the next five years8, according to projections. The ongoing societal limitations that are forcing coffee shops to limit the number of customers means that now is the ideal time to start a mobile café and provide people with a unique coffee experience.

Writing Services

Writers provide assistance with technical writing assignments and generate online content on a variety of topics for clients. Finance, marketing, technology, and education are all areas where there is a steady demand for professional writers with specialized skills. Furthermore, in the digital era, when web content management is becoming increasingly popular, there is a growing demand for outsourced content writers as well.

Why is Online Business Good During a Pandemic?

Here are 4 reasons as to why Online Business is good during a pandemic.

Everything is Online

There is no way around having a presence on the internet. As the new coronavirus wrecked havoc across the country, many companies made the decision to move to a remote workforce. Brick-and-mortar organizations that did not have internet strategy were forced to adopt digital marketing tactics as soon as possible. 

The digital world moves at breakneck speed. It is awake at all times. Competing in the internet world is extremely difficult, but it is necessary in order to succeed. Even if you’ve heard the adage that it’s “better to be known by your enemy than to be unknown by your enemy,” you probably understand why waiting until things are back to “normal” can be detrimental to your career and financial prospects.

Work From Home 

Perhaps, like many other Americans, you’ve been assigned to a remote work schedule and lifestyle. The result is that the likelihood is that you’re saving money on your commute and are better equipped to utilize and maximize your free time than ever before. 

Numerous research and polls have discovered that, after the implementation of COVID-19, an increasing number of people are spending their money on passion projects, personal interests, and hobbies.

Having some leisure time at home is an excellent opportunity to begin working on a company idea. Perhaps you’ve been thinking about beginning this particular business for a long time but haven’t had the opportunity to do so because of other commitments.

More Potential Employees

The fact that there is a considerably larger pool of talent available to online enterprises is extremely beneficial. In contrast to traditional enterprises, you are not restricted to a specific geographical area. The universal business model is evolving, and the gig economy is still alive and growing, let’s be honest about it. 

Not only can you create a business with a minimal barrier to entry, but you also have easy access to independent contractors and freelancers all around the world, which is a huge advantage. You may hire people to construct websites, design graphics, and even sketch prototype representations on platforms like Upwork or Fiver.

Entry Requires Little Effort

It is simple to establish an online business. Making headway in an oversaturated market is the difficult part of the equation. Start-up businesses on the internet are so simple to operate that practically anyone may do so. As a result, everyone tries! If you are just beginning, this is where the difficulty lies for you: you have no idea where to begin.

However, you should be aware that time is often the most important factor in achieving success in the digital realm. Of course, it can vary substantially depending on the industry in which your company operates. However, you’ll discover that time spent actively investing in an internet business is a solid predictor of success in the majority of cases, according to research.

Related: How to do SWOT Analysis for Online Business?

Increase in Online Shopping in 2020 Philippines

In the wake of the coronavirus disease 2019 (COVID-19) pandemic, Filipinos have increased their online shopping by 57 percent in the first half of 2020 compared to the same period the previous year, according to a report by an electronic commerce aggregator. This is the largest increase in online shopping in Southeast Asia, according to the report.

According to the iPrice Group’s Map of E-commerce Report, this amount represented more than double the average “basket size” growth recorded by the region’s six largest economies, which was 24 percent. The term “basket size” refers to the amount of items that have been added to a “online cart” on digital purchasing platforms.

According to a press release from iPrice, Filipinos are now spending an average of P1,311 per month on the company’s platform alone. The increase in the basket size was equal to Singapore’s 51 percent increase in the basket size. There was a 38 percent increase in the economy of Thailand; a 31% increase in Vietnam; a 24% increase in Malaysia; and a 17 percent increase in Indonesia.

Philippines shoppers spent 53 percent more time using shopping apps on Android phones in the second quarter of 2020 compared to the first quarter of the year, making it the country with the largest rise in usage of shopping apps on Android phones. There were 4.9 billion sessions in shopping apps in total, according to data.

See also: Business Model Canvas Explained with Online Business Examples

Make Business Pandemic-Proof with Ginee

In order to prosper, the top businesses demand the best tools. It is feasible to take the first step toward starting a low-cost internet business with the help of Ginee Philippines. Because of this, you may manage several internet shop operations at the same time from a central location. On the internet, you can find numerous instances of company opportunities to consider.

Simply looking for small business ideas in the Philippines, or making a bigger investment in the Philippines, is all that is required of you. It’s entirely up to you. Registration for a free trial from Ginee can assist you in taking the first step in starting your business. You’ll have no idea what you’ve been missing out on till you give it a shot yourself.