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The COVID-19 pandemic has caused dire, adverse effects to our country. Our economy is among those that bore the brunt of the crisis that we plunged into recession for the first time in 29 years. Without a doubt, this year has left us with money problems and financial instability that have been both the cause and effect of job loss and businesses shutting down.

Despite this, Filipinos continue to strive and rise above the hardships. Concentrating on the economic sector, we've witnessed this through the birth of budding entrepreneurs and the inception of small businesses. Even celebrities adapted to this new normal, with the likes of Aiai Delas Alas venturing into an online pastry shop, Dingdong Dantes starting a delivery service app, and Benjamin Alves opening an online flower shop with his girlfriend Chelsea Robato:

In an exclusive interview with long-standing entrepreneur and President of the Association of Filipino Franchisers, Inc. (AFFI) Jorge Wieneke, he tells GMANetwork.com how this affects our local economy.

He says, “Maraming na-lay off, maraming natanggal sa trabaho so most of them opted to be part-time entrepreneurs. So they relearned their skills before, and those learnings ginawa nilang negosyo. So may business sila ngayon. It is a good tool for them to save their family. Ngayon, the effect of this in the market is of course umiikot 'yung pera, may circulation ng money. So 'pag may circulation, of course, there's going to be income and at the same time, purchasing power. So that's also good 'no. So the impact is good for the local economy.”

While this is a good maneuver to keep homes and the industry afloat, it also comes with its own set of challenges.

He continues, explaining, “And the same time, ang impact naman, mas maraming entrepreneurs. Mas marami tayo, mas steep ang competition.

“You have to be relevant. Your product must stand out in order to survive competition. Kasi they said 75 million are in the social media. More than half of the population nasa social media. So ngayon you have to make a way, you have to make a plan na stand out 'yung produkto mo.”

What will sell in 2021?

According to Jorge, he foresees the same products profitable this year will remain as the hot products for the coming year.

He enumerates, “Definitely the food is going to be okay because it's part of the essentials. The food industry will be okay kasi everybody must eat.

“Number two, I think franchising is going to be okay. Why do I say that? Marami kasing na-redundant. Maraming na-lay off. Maraming natanggal. Maraming nagsaradong kumpanya. The only way for them to survive is to open a business. And the fastest way to open a business is through franchising. In franchising, there's a proven business method. Naka-fix na 'yung structure ng supply chain. Tapos meron kang guidance doon sa franchisor.

“Of course all safety products like the pharma, vitamins, etc, 'yung mga delivery, those will be the businesses we have to look out next year, 'no. Kung ano 'yung sumikat this pandemic, I think sila pa rin 'yung sisikat next year.”

However, Jorge encourages Filipino entrepreneurs to step up and further challenge themselves, believing that anyone can set the trend for businesses in 2021.

This faith comes from his almost 40 years of experience, being the innovator behind the flavored French fries that gave birth to Potato Corner, creating affordable meals through Tokyo Tempura, and his involvement in developing Waffle Time and Maxi Mango that paved the way for more food trends.

Jorge says, “As I teach innovation, as I teach product development, 'yung trends kasi nanggaling siya sa soundbites ng irritants, needs at wish ng market. For example, 'yung delivery, maraming nagbubukas nung delivery. Aside from Angkas, Lalamove, others are opening because they saw the need. Malaki 'yung demand because of the need, because of the situation.

“Ang palagi kong sinasabi is we observe what the market needs and provide them what they need, and you will be the one to create the trends. 'Yun ang tinitingnan ko on a perspective ha. Kasi 'di ba lahat naman ng hinihingi ng market nagiging trends? So you have to listen to them.”

And since the end of the COVID-19 pandemic is nowhere in sight, he shares a prediction about what could also be profitable in the coming year.

He illustrates, “So let's say for example, bored sila. 'We're bored in the house. Nakakulong kami sa house.' So anong trend ngayon? Halaman. So again, that was based on the need of the market. What can they do inside their houses? Do-it-yourself house renovations, do-it-yourself decorations. Those are the things that might be a trend next year. Kasi if we're going to still stay in the house, we'll have more time in the house to decorate.”

The trends are always changing and part of entrepreneurship is taking risks.

If you've been intending to start your own business, build it from Jorge's ideas but also remember that its success lies in your hands.