4 Millennial-Approved Small Business Concepts

greenhills

The term “millennial” has gotten a lot of bad press, often used to portray a generation that
seems difficult to decode by the ones who have come before it. But as with any generation with their own stereotypes, millennials carry their own dreams and ambitions. Although having different motivations, there is one thing that bridges the generation gap: the ambition to succeed in life.

The millennials are born in the age of information, and are willing to take informed risks to be able to start up a business. With its community of entrepreneurs, Greenhills is the perfect place for starting small businesses and making it big. Curious about what startups you can do? Read on to find out what ventures are sure to thrive with a millennial’s touch.

Proud to Be Local

In a move to bolster their national and cultural identity, there has been a renewed interest from millennials in supporting everything local. Even with influences from different cultures, this interest (and willingness to spend on said interest) is growing stronger than ever. It also comes with a broader understanding that supporting small businesses would greatly boost the local economy. Greenhills is a favorite shopping spot for both tourists and expats wanting to bring home a piece of the Philippines. One can find exquisitely crafted furniture, paintings by local artists, and even local delicacies from different parts of the country.

Art Attack

The arts and crafts community has carved its own steady niche. With its steadiness, it has
successfully captured the fleeting attention span of the millennial market. This generation is said to be constantly glued to their phones, but they are also the generation who grew up to witness the beginning of so many forms of technology available to us today. Keeping that unique in-between in mind, millennials often yearn to hold onto something more concrete. Arts and crafts is both a profitable and fulfilling small business concept for the highly idealistic and highly driven millennial. By offering pieces of their vision in the art that they make, they earn from doing something they love doing.

Fun Fashion Finds

Quench the thirst of the thrifty fashionista with offerings of affordable clothes and accessories. Want to capture the hearts of the penny-pinching millennials? There’s a way for these reluctant spenders to make way for the high fashion brands of their hearts’ desires. Indulge in fashion favorites without hurting your bank account by opening a clothing rental service. This does not have to be strictly for parties or formal events. You can also offer streetwear, semi-casual, or even everyday office attire.

Sustainable Entrepreneurship

The millennial market has more depth than what media has portrayed them to be. With the
ready access they have to information, the platforms they come in contact with allow them to have a better understanding of how the society moves with the world’s changing times.
Millennials are made more aware of how their actions could affect the environment. Because of this, millennials are willing to spend up to three or four times higher for more sustainable options. Businesses that sell reusable items like metal or bamboo straws, or steel travel mugs or tumblers, have become more popular to people who consciously want to reduce the plastic waste they produce.

Millennials have their own quirks, just like every generation before and after them. As a mall that has witnessed numerous changes since its opening, Greenhills is the ideal starting point for every starting millennial entrepreneur. With the right motivations and tools, Greenhills and these millennial entrepreneurs can jumpstart their own dream businesses.

Greenhills is part of Ortigas & Company, one of the pioneers in the Philippine real estate landscape. For more information on millennial-geared business opportunities, feel free to visit  our website.

Sources:

https://www.nielsen.com/ph/en/insights/news/2015/the-facts-of-life-generational-views-about-how-we-live.html
https://businesstips.ph/small-business-ideas-for-millennials/
https://www.entrepreneur.com/article/326724
https://www.entrepreneur.com/article/269995
https://www.entrepreneur.com/slideshow/299282