More than three quarters – 77% – of Filipino employees have a side business on top of their regular jobs, according to cloud platform for independent ventures GoDaddy.
Seventy-seven percent of these workers want to increase their earnings while 40% said they wanted to pursue their interests or test entrepreneurial skills, reported BusinessWorld.
“The survey shows that most Filipinos who have a full-time job and a side business juggle both in the hope of becoming their own boss in the future,” GoDaddy said.
Moreover, 72% of the participants hope to achieve this goal within five years, according to the Gig Economy Survey.
But what side business? Fifty-five percent of respondents said that expanding their digital presence is crucial to advancing the business. Online tools of choice were social media (69%), Web sites (43%), e-commerce platforms (37%) and digital marketing (35%).
The trend is not unique to the Philippines. “The results of our regional survey show side businesses are highly common in the Philippines, Hong Kong, and Singapore,” said Roger Chen, GoDaddy’s vice-president for APAC Region.
“It tells us also how entrepreneurs are embracing the online marketplace and how e-commerce continues to fuel business growth.”
In the three markets, e-commerce ventures are most popular among would-be entrepreneurs.
For Filipinos, 55% wanted to pursue e-commerce, 43% food services and hospitality, and 37% consumer products.
“Having a Web site that is fully integrated with social media and e-commerce tools can greatly benefit small ventures, facilitating their growth and support the desire to transform into full-time endeavors,” said Chen.
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