5 New SME Trends Entrepreneurs Should Watch Out For
Gone are the days when you need to stick to a tried-and-tested business model and/or idea
With the significant growth of the digital space and its influence, we’re seeing a shift in the business landscape. Gone are the days when you need to stick to a tried-and-tested business model and/or idea, because now, there’s a growing demand for more unique products and personalized services.
Here, we’ve gathered some of the most interesting – and potentially profitable – business opportunities that can complement your existing business and expand your market.
MEAL KITS + DELIVERY
We’re seeing the shift to more healthy living, and many Filipinos are seeking help to get them on the right path to mindful eating. One of the most promising business ideas is meal preparation and delivery. Create custom menus and allow customers to avail of the weekly meal plans by subscription. This brings greater convenience to the customer and more business for you.
People will never tire of appreciating and investing in great design – more so if it’s ergonomic and sustainable. If you have an original idea and unique aesthetic, easily monetize your talents by developing your own line, whether it be paper products, bags, accessories, or clothes. Grow your operations by either investing in your own printing equipment or hiring a team of designers and creatives to help you push your production.
Riding on the wave of mindful consumption, eco-products such as organic makeup, biodegradable toothbrushes, shampoo bars, stainless straws, and the like fill a great need for customers. If you can create an eco-friendly alternative to your existing product, then your business has great potential. Investing in research and development is key, and maintaining that standard of production is a must.
Especially in the city, where office work and traffic eats up most of the day, people are looking for more ways to buy more time to relax. Cleaning services – those that can be easily booked via an app or website – is a great business opportunity as it helps city-dwellers manage their household with ease. From laundry to carpet shampooing, general cleaning and beyond, see your business grow with every booking.
Filipinos have the heart – and insatiable appetite – for food. As curious eaters, we are always on the lookout for new exciting gourmet finds. A great factor for the success of any food business is location and presentation. A food truck is able to solve both as not only does it catch the eye of customers with its Instagram-worthy design (care of you, of course!), but you can also bring your food truck to different venues.
If you have a brilliant idea for expanding your business, the market is ready for you. But don’t let the lack of capital or financing hold you back.
BDO SME Loan is your reliable partner for growth, offering flexible financing options and different loan facilities to help you manage your cash flow more efficiently or acquire property and equipment for higher productivity. Apply now and avail of a financing package worth up to P20M to expand your business!
Learn more about BDO SME Loan, click here.