Home-Based Businesses: A Key Business Trend in the Philippines in 2023

The COVID-19 pandemic has dramatically changed the way Filipinos live and work, and it has accelerated the digitalization trend in the country. With lockdowns and quarantine measures in place, many Filipinos found themselves at home, looking for alternative ways to earn a living. This situation provided an opportunity for people to rediscover their passions and explore creative ways to make money from home.

This has led to home-based businesses becoming an increasingly popular option since 2020 for a plethora of reasons. Home-based businesses are very easy to set up and maintain, require almost no capital except for equipment, and offer what every corporate employee long for–flexibility and control over one’s time.

Here are some tips to get your home-based business up and running:

Explore what you love (or what you’re good at)
Find the activity, hobby, or things that make you genuinely happy. This could be anything from baking, web designing, virtual assistance services, or even repairing things if you love tinkering with gadgets. But it does not end there. Each individual has something he loves to do, it’s just a matter of finding what it is. If you’re still unsure, leverage your skills or expertise acquired through your work or education to get your earning in the meantime.

Practice your craft
Once you’ve known your passion or skill, practicing and honing your craft is the next best thing to do. For example, if you’re into internet services such as search engine optimization or content writing, you can start by doing pro-bono work for friends or family. If you’re interested in the food industry, have neighbors or friends taste your food for free and listen to their feedback. This will help you find points for improvement and the opportunity to work on it until you’re confident that you could do the same things for a fee as a professional.

Offer your services
Once you’re confident in your craft, the next step is to seek out clients. Look for legitimate platforms where you can showcase your services, such as online marketplaces, social media, and business directories. To attract potential clients, craft a well-written proposal that highlights your skills, experience, and unique selling proposition.

This is where it gets tedious, as competition might be stiff, as the Philippines has been one-upped by other countries like India in the online service department, while others have risked it all even before COVID-19 and have already started their own small food brand.

Home-based businesses have become a key business trend in the Philippines in 2023, as the pandemic continues to change the business landscape. With a little creativity, passion, and hard work, anyone can start and succeed in a home-based business in the Philippines. (GFB)