In 2008, local economists prophesied that the Philippines will feel the global economic meltdown in 2009. January 2009 sees Intel closing down, causing more than 2,000 Filipinos to lose work. This is just the beginning of this crisis. This, of course, has an echo effect. Companies supporting the Intel business, materials supplier and services provider, will either downscale their operations or close altogether. Again, the loser will be the ordinary Filipino worker. So, a rough estimate of people affected will be about4,000 workers.
Now, don’t think I’m a doomsayer. Far from it. I am just painting our current reality now. Are we hopeless? Is working abroad the only solution? I beg to disagree. Time and time again, successful business men will always say, opportunities abound when times are down. Opportunities are out there. We are no longer limited with what we can do. Thanks to the Internet, we now have the whole world as our potential market, all from the comfort of where you are sitting right now! If the physical world around you is in recession, well, here’s the good news, the virtual world of the Internet is flourishing!
Why is doing business online good?
1) You have a much wider reach and market, close to unlimited. As of December 31, 2008, there are close to 361 million Internet users in the world (http://www.internetworldstats.com/stats.htm). Each of this user is a potential customer
2) Contrary to popular belief, doing business online is cheap; no large investments required as compared to putting up a physical business.
3) Online business is simple - a computer (preferably your own), DSL connection, a credit card, and you’re set to go.
I will be honest with you. There is a lot of studying to do. No, nothing technical, but just like any brick-and-mortar business, maintaining an online business requires (a) good business ethics (b) good quality service or product (c) on time-delivery of service or product.
You probably would be wondering now what kinds of businesses are available on line. Lots, I say, so, watch out for my next post, and I will introduce you to 10 Ways to Make Money Online.