ENPRENEURSHIP
TREND AND
ISSUES
Discussant: Jonard
llagas
TREND
S
TRENDS
Trends are new developments in a market or industry that
affect the business environment. They're typically new
ways that businesses hope to achieve their goals or
improve their performance among their competitors.
Why is it important for entrepreneurs to look for
trends?
By being aware of emerging technologies and market trends, you
can identify gaps in the market and develop new products or
services that meet the needs of your customers. This can help you
to expand your business, attract new customers, and increase your
revenue.
TREND
S
Delivery
Business
Delivery businesses in the
Philippines boomed at the start of
the COVID-19 pandemic and during
its peak. Businesses were able to
capitalize on the fact that people
didn't feel safe going out into public,
which meant that they were willing
to pay more for a delivery service
than they would have otherwise.
TREND
S
Food Carts/Food
Stalls
Food carts are gaining popularity in
the Philippines due to the trend of
eating out in Asia. These carts are
found in malls and universities,
where students sell snacks,
sandwiches, and other food items as
a side hustle or passion.
TREND
S
Eco-friendly or "Green"
Products
The Philippines is witnessing a
growing trend of environmentally
conscious consumers purchasing
eco-friendly products, including
recycled materials like bamboo and
juice containers, which could
potentially spread to other Asian
markets.
TREND
S
Beauty and Wellness
Business
The Philippines' beauty and wellness
services are gaining popularity due
to its high-consciousness
population, leading to an increase in
salons, spas, nail bars, and
barbershops, with a growing trend
for premium, sophisticated barber
shops for men.
TREND
S
Water Refilling
Station
The country has a big problem with
water scarcity. There's also a big
issue with water potability, which
makes it difficult to drink tap water
straight from the faucet or even use
it for cooking without filtering it
first. This is where water refilling
stations come in handy.
TREND
S
Bill Payment
Centers
Bill payment centers are new
business trends in the Philippines.
They allow customers to pay bills
and make transactions from
different companies at once. The
centers are usually located near
malls and other public places, so it's
convenient for people to stop by.
TREND
S
Laundry
Shop
Laundry shops in the Philippines
cater to busy individuals who don't
have time for their own laundry,
offering various services like
handwashing, machine washing, dry
cleaning, and tailoring, making them
convenient for dropping off dirty
clothes.
TREND
S
E-Loading
Business
The demand for mobile load credits
is expected to rise in the Philippines
due to the increasing popularity of
online gaming and social media
platforms, which require specific
credits for users to access their
devices.
TREND
S
Car Wash Business
There are many car wash businesses
in the Philippines today, and they're
growing rapidly because of their and
affordability. It can also use by
offering additional services such as
waxing or polishing, which most
people don't usually do themselves
at home anymore, so they'll
definitely appreciate having this
done professionally instead.
TREND
Milk Tea & Other S
Cold
Beverage
Stands/Cafes
Milk tea stands are very popular
among Filipinos because it is an
affordable way to hydrate and cool
down during hot weather without
spending too much money. As a
result, people are willing to spend
hours at milk tea cafes because they
offer more than just drinks-they
provide a place for customers to
relax and enjoy themselves.
TREND
S
Online
Edcation
While online education might not
sound like it's going to be very
profitable, it actually has become a
lucrative industry in the country
right now. In recent years, there's
been an increase in demand for
online education services like
tutoring and coaching services
provided over Skype or Zoom video
calls.
TREND
S
Digital Marketing
Services (Gig
Economy)
The gig economy has fueled a surge
in online marketers and
entrepreneurs in the Philippines,
with numerous freelance digital
marketing professionals providing
services to clients worldwide, often
aiding companies in marketing
campaigns and social media
management.
TREND
S
Vlogging/Becoming an
Influencer
Influencers in the Philippines,
particularly on Instagram and
YouTube, are earning significant
incomes, prompting businesses to
hire them to create content and
promote their brands.
TREND
S
BUY AND SELL
Buy and Sell is a popular online
business trend in the Philippines
due to its ease of start and low
initial investment, making it an
excellent choice for those with time
and dedication.
ISSUES
ISSUE
S
Issues is that entrepreneurs face challenges at every stage of their business journey,
from securing funding and attracting customers to scaling operations and adapting to
market changes. These hurdles require strategic planning, resilience, and adaptability
to overcome.
Why is it important for entrepreneurs to look for
issues?
It's important for entrepreneurs to identify and address issues because doing so helps
them anticipate challenges, minimize risks, and seize opportunities for growth. By
actively seeking out and addressing issues, entrepreneurs can improve their business
strategies, enhance their competitive advantage, and increase their chances of long-
term success.
ISSUES
Poor Public Utility
Services
Entrepreneurs in the Philippine provinces, are
continuously annoyed by brownouts, slow internet
connection, supply of water, and etc. These poor
services do not only destroy the efficiency of their
business operation but also cause them a lot of stress
ISSUES
Lack Of Financial
Support
Startup founders in the Philippines face challenges
in obtaining government financial aid or loans due
to collateral requirements and operating income
requirements. Banks and the government may not
support these ventures.
ISSUES
Lack of Marketing
Skills
You need to sell, build great customer relationships, earn lasting
profits, and continuously grow your business. But many aspiring
entrepreneurs in the Philippines don't care to spend enough on
marketing campaigns. They rely too much on their product
while forgetting about the other elements of marketing such as
place, price, people and promotion which are the most
essentials.
ISSUES
Ineffective Management
You might have passion for business, but don't have any
passion for management and leadership. Managing and
organizing things inside a business is a tough job. Leading
people is an even tougher job. Without the ability to motivate
employees and build stronger teams in your company, you
cannot succeed and grow your business.
ISSUES
Lack Of Customer Care
You need to consistently satisfy and make your
customers happy. If don't give satisfaction to your
customers, your business can never survive in the
long run. Many entrepreneurs focus on making
money rather than winning loyal customers which
makes them fail over tine.
ISSUES
Inability To Innovate
As new business processes and marketing
strategies emerge you must be innovative so as to
blend seamlessly with these changes. A lack of
innovation in business means a loss of productivity,
reduced customer engagement and an inevitable
decline in profits.
ISSUES
Lack Of Self-
growth
Filipino entrepreneurs often struggle with
personal development, lacking self-control,
self-leadership, patience, compassion, and
love for their customers. These qualities are
crucial for achieving business growth and
advancing in their careers. Without these
qualities, entrepreneurs may not succeed.
THANK YOU!!!
