Similar to the financial crisis in 2008 that affected countries all across the world, COVID-19 has also impacted businesses and how we transact with one another across the Philippines. One question commonly asked during this time is what the best businesses are during this pandemic in the Philippines?
Throughout today’s article, we will be covering the best business to start during this pandemic in the Philippines and going over some business ideas after COVID-19. Additionally, for those looking for some added tips, we have also included some simple but effective tips for this unprecedented time.
Pandemic Business Ideas Philippines / Businesses During Pandemic Philippines
1. Blogging & YouTubing
Statistics show that websites such as YouTube are receiving massive traffic compared to similar times over the last several years due to this pandemic, which brings different business ideas to the Philippines during COVID-19.
We have spoken about YouTube previously as many businesses are now turning to video format as an extra stream of income for their business, and some are turning to YouTube as a full-time living.
Many believe that blogging and YouTubing are oversaturated. Even though this may be true for some wildly competitive industries such as fitness or food, there are many niche categories and sub-niches that go untapped.
Besides a niche-specific blog or YouTube channel, a great business idea in the Philippines could be something unique you have within yourself during this pandemic. This could be a particular skill or a hobby that can be turned into a full-time business online.
2. Antibacterial Ecommerce Stores
This is perhaps one of the best business ideas after COVID-19 in the Philippines, and during this pandemic, antibacterial equipment and products are in high demand. Experts believe that public demand will continue as we look into the next several years due to fear.
Products are one of the most important things to a business, including the buying price. Business owners can increase their profits by purchasing equipment in bulk or through imports.
If importing items from China or India, then it’s important to note that there may be taxation fees and shipping costs; however, in some cases, overseas warehouses include import tax in their calculations, but it’s something that needs to be arranged before ordering.
We have recently documented how to set up and start a soap making business in the Philippines; towards the end of the article, we mentioned how some soap making businesses are now turning to antibacterial products to increase revenue, so this may also be an option if an antibacterial ecommerce store isn’t for you.
3. Personal Development Businesses
When we look at the best businesses to start during a pandemic in the Philippines, it’s important to highlight areas that matter most to us, including personal development businesses.
Many people find this pandemic incredibly challenging, and thus, negative feelings such as loneliness, anxiety, solitude, and many others can arise.
If you are looking for a business idea during COVID-19 in the Philippines and wish to help people, then a personal development business or a lifestyle coach may be an excellent option for you.
One of the benefits of setting up this business is that during this time, the service can be run remotely from your home, and costs are low for this type of business model.
4. Home Made Products
An excellent option for some entrepreneurs in the Philippines is to build a homemade product business. A popular website for listing and selling handmade items is Esty.com.
The great thing about selling homemade products and using third-party channels such as Esty is that you can reach a whole new group of people and sell internationally, opening up your business to many new opportunities.
I am an Esty seller. I love that they have made customers fully aware that covid has affected delivery times, removing added pressure from new business owners as many customers now expect a slight delay.
5. Virtual Classes
Businesses during this pandemic in the Philippines are turning to virtual communication. This opens up the door to an industry that has been sitting in the back for many years, slowly moving forward, and that is virtual classes.
There are many different business models and nitches virtual classes can fall into. One of the most popular and well-known is English teaching. However, there are many virtual classes such as yoga classes, business mentoring classes, and cooking classes.
Similar to the above personal development businesses that we spoke about previously, virtual classes and business models revolving around this can often be set up relatively cheaply, and maintenance costs are often low, which is one reason it is one of the best business ideas in the Philippines during COVID-19.
6. Affiliate Marketing Businesses
Affiliate marketing is massive, and I mean massive! ($12+ billion industry) We have spoken about affiliate marketing here at Filipino wealth before. It is such a profitable business if you can build your traffic.
Affiliate marketing is the process of informing people about a specific service all product and referring them to purchase the item. If they purchased an item on your referral link, you would receive a small commission per transaction.
If you are looking to make money online in the Philippines in Covid-19 or just looking for some passive income during a pandemic Philippines, I would highly recommend reading our complete guide on affiliate marketing, which explains why it is one of the best businesses in the Philippines in this pandemic.
7. Home Delivery Services
For a long time, lockdowns have taken place around the country, and even though we can go to the shops and do what we need to do, this hasn’t stopped a surge in-home delivery services.
When we think of home delivery services, we may think about services such as FoodPanda, but there are many different delivery services outside of food in reality.
An example is a story we came across a few months ago where a young entrepreneur set up a visa delivery service where he delivered necessary visas to foreigners. This is a small story, but it shows different delivery options available if you wish to try this.
8. Professional Cleaning Businesses
As you are aware, areas in the city have gone under several deep cleans during this pandemic. When looking at the best business ideas in the Philippines during COVID-19, we have to include an ever-increasing demand for cleaning services.
At this moment in time, I can only speculate (as it’s not been announced by the government at the time of me writing this). Still, I assume that many businesses that serve the general public will need to have an official covid friendly clean before opening a business.
But what about if a cleaning business is not for you? Are there any other covid friendly business ideas in the Philippines? We have one more business idea that may be suitable for you.
9. Lazada Seller
Lazada is a massive corporation that sells products all across Asia, and similar to YouTube and other websites, Lazada has seen an increase in traffic during COVID-19, which gives a perfect opportunity for entrepreneurs looking to start an online business.
We have spoken about Lazada previously and have mentioned it is not always the most straightforward business to start. There are certain perks to becoming a Lazada seller. One of the most common perks is that you could choose fulfillment by Lazada, meaning that they deliver your items straight to the customer on your behalf.
Some of the downsides are the terms of service and fees you will need to pay as a Lazada seller. Apart from these business ideas in the Philippines during a pandemic, what about business ideas after COVID-19 in the Philippines?
Business Ideas After Covid-19 Philippines
At some point (we all hope), COVID-19 will slow down, and things will slowly start to get back to normal. Maybe this will happen next year or in a few years. Still, entrepreneurs will start building businesses whenever it does happen, and the economy will start to increase speed once again in many industries across the Philippines.
So the question is, what business ideas after COVID-19 in the Philippines are the best? We have put together a shortlist of covid friendly business ideas.
1. Gyms & Personal Training
Many personal testimonies worldwide have suggested that there have been significant amounts of weight gain and unhealthy habits that have been picked up during this pandemic. Many experts have joined the debate, and some countries have given healthy living advice to their residents.
In the Philippines, excess weight can become an issue. It can affect a person’s self-esteem and confidence, but it can also affect their overall health, leading to many serious diseases such as heart disease and cancer.
Gyms and personal trainers are not the best business ideas for Covid-19 in the Philippines at this moment in time because many parks and gyms are closed; however, when things get back to normal, there will likely be a surge of demand for this industry.
2. Tech Businesses
The tech industry in the Philippines is also vast. It is continuously growing thanks to the rapid speed of innovation in the Philippines and worldwide.
This business idea after Covid-19 in the Philippines is not explicitly written due to the pandemic. Still, it is written as it is one of the most fastest-growing industries in the economy.
When looking at some of the most popular products sold on platforms such as Lazada and Shopee, you will often see the highest selling items tend to be technical items and personal electronics. When looking at other Southeast Asian countries, this product demand continues.
3. Investment Brokers
The third post-COVID-19 business idea in the Philippines is very closely related to our number four option. More and more Filipinos are starting to notice several other investment vehicles rather than traditional banking options.
Cryptocurrency is one of these investments that get a lot of attention, but whether you are for or against Bitcoin, you will notice we are changing how we handle and invest our money.
Many people are starting to understand just how important it is to minimize risk by diversifying their investment portfolio. This is where investment brokers come in.
4. Crypto Business Models
Lastly, we have cryptocurrency business models which can cover many different types of businesses, not just the traditional buying and selling of cryptocurrency.
Over the last few years in the Philippines, there has been an increase in demand for cryptocurrency. Still, there are many different types of cryptocurrency investments that are being utilized.
An example of one is cryptocurrency staking, which is staking (often in a liquidity pool) to share a cryptocurrency reward. In other words, an investors’ cryptocurrency is earning more cryptocurrency.
We have spoken about cryptocurrency businesses in the Philippines previously. Even though it may be an exciting business after COVID-19 in the Philippines, it is also a very high-risk business.
Coins.ph operates a very popular platform, but many cryptocurrency options are not available; thus, if you are looking to target the local market, there may be an opportunity for innovation.
Tips For Businesses During Pandemic Philippines
Keep Some Money To The Side: From looking at many different areas of the economy in the Philippines, it is clear that some industries are fluctuating, and even though this is normal at times, it is also unpredictable; thus, it’s best to keep some money to the side for a rainy day.
Network With Others: Businesses during COVID-19 in the Philippines need all the help they can get. This also includes generating new customers and encouraging repeat business. Networking with others is vital in building a solid customer and business base and should not be neglected.
Focus On The Online Streams: Traditional businesses in the Philippines are some of the most hard-hit businesses as some cannot take the business online, but if there is an area of your business that you can take online, all can be continued for a much lower cost then it may be wise to do so.
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