Applying the 2024 startup trends in the Philippines to your business will make you look attractive to prospective investors.
We’re at the brink of the new year! As a student entrepreneur, knowing the latest trends in the industry you’re interested in breaking into can make or break your future entrepreneurial ventures. As we move on from the COVID-19 pandemic, the landscape of entrepreneurship in the Philippines has changed. The evolution of technology has impacted the way businesses are conducted as well so let’s find out the 2024 startup trends in the Philippines and the importance of staying updated on the current trends!
What is the Significance of Knowing the 2024 Startup Trends in the Philippines?
These are some of the reasons why staying updated with the current trends is crucial for the success of your entrepreneurial ventures:
Identify market trends
Consumer behavior and preferences consistently change. Technological innovations drive how customers behave and how businesses are conducted. Student entrepreneurs need to stay updated on these market trends to help them:
- improve strategies
- make informed decisions
- remain relevant
- overcome challenges
- adapt to changes
Gain competitive advantage
Study the startup landscape of entrepreneurship in the Philippines to know how you can stay ahead of your competitors. This way, you can innovate your products and services to differentiate them from theirs.
Open funding sources
If you are a student entrepreneur who is looking into starting an entrepreneurial venture, applying the 2024 startup trends in the Philippines to your business will make you look attractive to prospective investors.What are the 2024 Startup Trends in the Philippines?
Here are some of the 2024 startup trends in the Philippines to watch out for
Digital solutions
Businesses without an online presence will become irrelevant in the coming years. Digital marketing, social media, and e-commerce platforms will remain prominent.
Even other sectors, such as healthcare and education, will pivot to technological advancement in providing remote services.
Generative AI
Data shows that the Generative AI market size in the Philippines will reach USD 233.20 in 2024.
Generative AI, such as ChatGPT, is artificial intelligence that can generate text, images, or other media. Research shows that businesses must consider adapting Generative AI to enhance customer service experience.
Sustainable technology
Sustainability is at the forefront of most consumers due to climate change. This includes environmental-friendly technology like electric cars or bikes and ethical methods in sourcing product materials.
Accelerate your Business Growth at CIIT
Only by studying the best college courses in the Philippines can you enhance your business acumen. Secure your success in entrepreneurship in the Philippines with CIIT. CIIT programs offer industry-based learning to help student entrepreneurs become industry-ready.
Apply here to build your foundation as an entrepreneur and learn the basics of accountancy and business management as early as Senior High School. Enroll in our Bachelor of Science in Entrepreneurship to learn how to leverage digital transformation to succeed in your future startup business!
