This article will give you some ideas for business opportunities in the Philippines. We incurred a lot of additional charges just so we could get the orders out within the day, which hurt our profit margins. My mom helps me a lot by baking the cookies before she goes to work and I prepare the pandesal before I clock in, but with the number of orders I’ve been getting, it’s become really tiring. “The best time to start is NOW. Hopefully, we'll find our balance soon!” - Nicole. I thought giving my suppliers the go signal for production pre-lockdown was enough for everything to run smoothly. We all have different ways of coping, while some people are into cooking, exercising, and binge-watching Netflix, we are into decorating our rooms! “I like going out, trying new activities and traveling, so personally, I think this new business really helped me get through the quarantine. If you have a friend who has a packaging business, consider teaming up with her so you can both benefit from your venture.”, Business: Virtual Assistant Services and Social Media Management, Why she started her business: “It was actually pretty random! “With my new cosmetic business, I love how I can use it as a platform to make people feel more confident and free to express themselves. I had to put an extra mattress on my bed every time I was on my period to make sure I don’t stain my bed. Now let’s go into the details of the best business opportunities in the Philippines. When COVID-19 was classified a pandemic earlier this year and governments started to impose lockdowns and quarantines, we knew that small businesses would struggle to stay open. Different countries have taken various approaches to reduce the devastating impact of COVID-19 on SMEs and employment, some being more aggressive than others. ? This could come in the form of grants, affordable loans, or temporary tax exemptions. It's still a work in progress for us. “My pre-pandemic job is in the wedding industry, we do fairs and we sell wedding accessories. For someone whose work life has been all about flying in and out of countries and always being on the move, the shift to becoming an active online seller from home lets me focus more on researching trends, planning my content, and executing my ideas. An innovative small business idea in the Philippines is a self-serve laundry centre. For July, I’m partnering with Bake Sale for Better PH which brings together several bakers for one giant bake sale so we can pool together funds for several causes, and Candid Clothing, an ethical clothing brand that gives the Taytay seamstresses who’ve been out of work a job. I literally got asked, ‘, cookies?’ My parents would’ve been more than willing to split the veterinary expenses with me, but I didn’t want to ask. MANILA, Philippines — One in every three Filipino micro-entrepreneurs started a business during the COVID-19 pandemic, a survey conducted by web-hosting company GoDaddy showed. It can get crazy!” - Janelle, Why she started her business: “Ever since the COVID-19 pandemic hit, there were so many changes that happened at work (and around the world, of course), so this business was my way of keeping sane. It’s scary at first, but what isn’t?”. When my dogs were sick, I had the money and people knew that, but it would seriously leave a dent on my finances. In this program provided by the Federal Council, loans of up to CHF 500,000 are fully secured by the Confederation with zero interest. It was an internal challenge of figuring out what I wanted then eventually how to make it happen.”, “Definitely positive feedback from other women. As an entrepreneur, if you understand and adapt to your challenges, you could start a thriving business during this pandemic. The bonus was everyone was doing it anyway: Online businesses were popping out here and there.”, How different is this business from your day job? Many small businesses have been hit hard by the pandemic. This puts the livelihoods of millions of Filipinos at risk, and their households could become highly vulnerable to hunger and poverty. We decided that I would be in charge of design and production while he took over creatives and marketing.”, “I’ve been in working in corporate since I graduated, so starting a business is a totally different ball game. The Philippines entered into recession last August wherein the country’s gross domestic product (GDP) growth rate declined by 16.5% in the second quarter of 2020, which was the lowest recorded quarterly growth since 1981, according to the Philippine Statistics Authority. 20 Small Business Ideas in the Philippines for 2020. “All I’ve ever known is nonprofit work. Before I had to go on leave, I barely had time to explore my other interests. So if you’re considering investing in a wine and liquor franchise business, it may be a good idea to offer online deliveries to adapt to a post-pandemic society. Trust me, we didn't know what we were doing and we don't know what we got ourselves into but it's worth it!” - Nicole, “And don't forget, mental health over everything. So we’ve decided to hire someone to help me with the orders. If you’re planning to start your dream small business at this time to help with your finances, check out their stories below: Why she started her business: “Even before the pandemic, I’ve been selling cookies on the side to a small network of customers and two establishments. If you’re looking for a way to make a significant change in your life this 2020, I hope this article will give you a head start. Baking cookies gets a little lonely with just the sound of music, clinking of the steel bowls, and the alarm of the oven. Back in my corporate job, I had to work from 8-6, from Monday to Saturday. Every entrepreneur faces challenges, doubts, managing risks, and making big decisions during this period. There’s an onslaught of requests for “deep cleaning,” which is a thorough cleaning and disinfecting, particularly for commercial establishments, stores, schools, offices and even for homes. It’s been a good investment because now I can take in more orders! When lockdown started, I realized I had a lot of free time on my hands—more than I’ve ever had to be honest—so I figured it was now or never!”, How different is this business from your day job? “Definitely positive feedback from other women. Metro Manila (CNN Philippines, September 3) — The Department of Trade and Industry says over 73,000 online businesses have registered with the agency during the COVID-19 pandemic… When the COVID-19 pandemic hit the world this year, we all had to make major changes in our lives. 15 Best Small Business Investment Opportunities in the Philippines in 2021. I also definitely miss the free aircon during shoots and gigs! We use cookies to ensure you get the best experience on Cosmo.ph. Rest when you need to but don’t give up. Source: [1] Freelancing taking root in the Philippines – study (Schnable, Rappler, 2018) Moneymax. I never would’ve known it was worthy to be put on display in a coffee shop, and little did I know it would save me from unemployment and its mental and emotional repercussions during this pandemic. The kitchen gets seriously hot when the oven is on for hours even with  four electric fans.”. On top of my personal experience, I also heard different stories from other women about their period problems. Before, I would hustle just to find ways to treat myself while not compromising my obligations. You’ll honestly never be 100 percent ready. It is a time of initial struggle. When COVID-19 happened and working from home became the norm, I decided to relaunch it with the help of my boyfriend. Since we're also a new business, our team is only small so we work day and night to get everything done. But when I got the hang of it, it's actually really nice.”, What’s the best thing about opening your new business? Credit constraints and weak consumer demand were among the reasons why recessions have dealt a disproportionately more catastrophic blow to MSMEs relative to large businesses. “I have no business experience or background. With the help of my family and friends I composed myself and started with baby steps. T he shock and fear in society will remain long after the pandemic ends. I'm a solid introvert so it's quite difficult for me to constantly have to talk to people. Editor’s note: John Paul Flaminiano is Associate Director and a Senior Economist at the Asian Institute of Management - Rizalino S. Navarro Policy Center for Competitiveness (AIM-RSN PCC). are all set for you. SMEs usually have lower cash reserves and are more susceptible to going out of business, especially during a crisis. Bonus points that I don't commute or spend money eating out!”, “It was a bit hard communicating with my clients at first. I almost quit Emilia because it was taking a toll on my mental health but Nicole swooped in and saved the day. And most importantly, support your friends who also have businesses! SMEs and their contribution to jobs and employment. As an employee, your KPI’s, targets, etc. For example, some countries unveiled their response package as early as March, while it took other countries up to April to come up with a response. Grab and Angkas also have promos for merchants so check those out. There will be days when you feel like you can’t keep up in this fast-changing world and that is okay. Haha!”, What were some of the challenges you had to face when you opened your business? Here are 11 pandemic-friendly business ideas to consider. We asked 16 smart CEOs and business owners how they’ve adapted to our new virus-ridden reality. 26 million Americans are without a job right now, and that's just in the U.S. alone. Haha!”. I made use of my available resources in order to make ends meet and fulfill my plans for Lash Party.”, “My beauty business has allowed me to express more of my artistic side that I don’t really get to maximize in-flight. Local movie theaters are seen as less safe during a pandemic because they encourage the gathering of people in a small space. In the Philippines, the enhanced community quarantine, done as a response to mitigate the spread of the COVID-19 pandemic has brought economic activity to a standstill. Before I had to go on leave, I barely had time to explore my other interests. While there are many COVID-inspired business ideas sprouting in the business world today, there are many ways "traditional" businesses can be adapted during COVID-19. I never would’ve known it was worthy to be put on display in a coffee shop, and little did I know it would save me from unemployment and its mental and emotional repercussions during this pandemic. Check out our massive list of the most profitable small business ideas in the Philippines. A large number of countries have enhanced direct lending to SMEs, and in some cases, new loan instruments have even been set-up. What’s the best thing about opening your new business? Even before the crisis, many of our SMEs already had problems obtaining credit as working capital and to pay their workers. Sari-Sari Store. Social media is free: Facebook Live and Instagram Live are available at no cost to users. Under the HK$20 billion SME Financing Guarantee Scheme (SFGS), small businesses in Hong Kong are granted faster access to loans that are fully guaranteed by the Hong Kong government. I always grounded myself with the belief that I started my brand of period panties, not to merely sell a product, but to sell a comfortable and confident experience for women out there.”, What’s your advice for Pinays who want to shift careers or start side hustles and small businesses now? I realized how blessed I am to still be employed and to have the capacity to start my passion project. The little things like giving tips on how to apply false eyelashes or recommending which type of falsies enhances my client’s beauty make me tick and hopeful for my brand. ‘What would make BARE stand out?’ Another one was navigating through this pandemic. 13. Adapt to survive indeed. I was open to my friends, family and followers that I was struggling with the loss of work and they were the first to support me in my new venture. This could suggest business ideas for post-pandemic commercial activities. It's a website, so mostly it's digital-focused in terms of marketing and components.”, What were some of the challenges you had to face when you opened your business? I had to relearn everything I knew about photography, and scour my brain for memories of watching my friends do product and digital content shoots because wala naman kaming budget to hire a photographer or food stylist. You should be proud that if you need extra money, you’re willing to work for it. Since we're also a new business, our team is only small so we work day and night to get everything done. It was so tiring. 20 Small Business Ideas in the Philippines for 2020 Manny January 15, 2020 263 Comments Making a living in the Philippines can be hard if you are only looking in one direction, and that is, employment. What were the challenges you faced when you opened this new business venture? To SMEs, the government also unveiled a financial aid package worth billion. The low-cost yet profitable small business ideas in the Philippines in 2021 entrepreneur. My obligations before, I use the same tricks to produce content for beauty SMEs already problems... “ believe in myself and my reasons for doing it in the pandemic ends unique selling point a... By choosing from the COVID-19 pandemic in full swing, Filipinos found creative ways with business!: 15+ Lucrative business ideas to start their own businesses and pandesal dough before clock! 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