Updated: August 26, 2016
Let 2016 be the year that you will become an entrepreneur. And to help you get started, I’ve come up with a simple list of business ideas that you can consider.
I’ve divided this list into three main categories, which I believe are the niches that have the most potential to earn this year.
However, do keep in mind that as with any business idea, you still need to do market research and validation before you pursue them, or you risk wasting time and money going after an idea that was bad in the first place.
ELECTION YEAR
We will be electing a new president this year, act fast and take advantage of the money that will be going around during the campaign period. Consider putting up these:
- Events management for campaign rallies and other election-related events
- Media house that composes music jingles or produce campaign videos
- Website creation and development for political parties and candidates
- Social media and online reputation management business
- Tarpaulin, poster, and other print media businesses
- Corporate giveaways business that produce campaign materials
- Food catering business for those rallies and victory parties
ASEAN INTEGRATION
The ASEAN Economic Community will continue its projects towards greater cooperation and integration among Asian markets. Be there to take advantage of upcoming opportunities on:
- Bed and breakfast for tourists or accommodation for business travelers
- English and Asian language tutorial services
- Asian cuisine restaurant and other food-related business
- Entertainment, leisure, and tour guide services for Asian travelers
- Souvenir and local products store
- Business consulting company that can help Asian and local companies set up
- Manpower and business process outsourcing company
MILLENNIAL MARKET
The Philippines just entered the demographic window, which coincides with the entry of the millennial generation into the work force. Profit from their purchasing power by providing:
- Communal living spaces and tiny home rentals
- Mobile app and online tools development
- Co-working spaces and offices
- Organic or vegan restaurants and artisanal cafes
- Specialty stores that feature local products and unique services
- Gyms that act as healthy and active lifestyle centers
- Indoor and outdoor facilities that can serve as their “third home”
- Arts and crafts, clothing novelty, and hobby stores
These are the business ideas that I came up with, can you give more ideas? Also, if you’re interested to know more details on any of these, then just ask in the comments section and I’d be glad to share more thoughts.
If you’d like some further reading, then you can check out these past business articles that I wrote:
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Photo credit: tgkw
Thanks for the tips!
Nice ideas