MORE THAN three quarters of Filipinos are engaged in side entrepreneurship businesses, according to a new survey.
GoDaddy, the world’s largest cloud platform dedicated to small, independent ventures, said results of its recent 2017 Gig Economy Survey show that a “high prevalence” or 77% of Filipino respondents have or have had a side businesses on top of their regular jobs.
Of this, about 61% said the side business was to increase earnings while 40% said they wanted to test the waters of entrepreneurship or to pursue their interests.
“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 in a statement on Thursday, noting 72% of the participants hope to achieve this goal within five years.
Also, the survey found that 55% believe that the expanding their digital presence is crucial to advancing their businesses.
Online tools of choice for side business owners were social media (69%), followed by Web sites (43%), e-commerce platforms (37%), and digital marketing (35%).
“The results of our regional survey show side businesses are highly common in the Philippines, Hong Kong, and Singapore. It tells us also how entrepreneurs are embracing the online marketplace and how e-commerce continues to fuel business growth,” notes Roger Chen, GoDaddy’s vice-president for APAC Region.
Study participants in the three markets saw e-commerce ventures as the top platform for would-be entrepreneurs.
In the Philippines, that translated to 55% of total respondents, followed by food services and hospitality (43%) and retail and consumer products (37%).
“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 Mr. Chen.
The 2017 survey focused on professionals, both male and female, from ages 18 to 64, who work full-time and also have side businesses. — Janina C. Lim