Setting up this type of business is relatively easy as you can put up your own store in front of your house. The process is never easy, you will be tested in all ways possible and you will only have yourself most days so believe that you can and you will. A lot of industries were greatly affected, meaning a lot of careers and jobs were lost. See Also: 15+ Lucrative Business Ideas To Start In Nigeria Or Africa With Small Capital 19). 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. Rest when you need to but don’t give up. There will be days when you feel like you can’t keep up in this fast-changing world and that is okay. “The discernment process on whether I’d do it or not was a big challenge at the start. This could come in the form of grants, affordable loans, or temporary tax exemptions. PHOTO: (LEFT) Courtesy of Nicole Tejano and Janelle Inojales; (RIGHT) Courtesy of Nicole Ceballos, “Even before the pandemic, I’ve been selling cookies on the side to a small network of customers and two establishments. 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!”, A complete 180! I actually launched BARE back in 2017, but I wasn’t able to sustain and grow the business then because I was doing it alone. I didn’t even know where to start with little to zero resources at that time. “All I can say is, just do it. Without adequate access to finance, it may be challenging for SMEs to pay or keep their workers and maintain operations. As the world stayed indoors, the pandemic also took a hit on the economy, resulting in businesses either slowing down or shutting down. I realized how blessed I am to still be employed and to have the capacity to start my passion project. 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. Many countries have focused on initiatives to sustain short-term liquidity, and several governments have responded by making credit more accessible and by providing tax relief. It also made me realize the importance of giving back, which is what we will do for our next collection. Like everybody else facing financial uncertainties, I had to come up with a plan since I won’t be flying anytime soon. Let us discuss the different useful and profitable product business ideas in the pandemic period. MANILA - Some 30 percent of businesses in the Philippines have closed since the COVID-19 pandemic hit, the Department of Trade and Industry said Thursday. 20 Small Business Ideas in the Philippines for 2020. Back in my corporate job, I had to work from 8-6, from Monday to Saturday. Adapt to survive indeed. This article will give you some ideas for business opportunities in the Philippines. Keep it for a rainy day, buy stocks while prices are low, buy your parents gifts, donate it to frontliners—huwag mong ikahiya, pinaghirapan mo yan! Living in abundance was always the goal, but with everything that’s been happening, it made me see the importance of being satisfied and content with what I have. It was so tiring. Read more: 25 Small Business Ideas You Can Start With Low Capital. Online Business in Philippines. I had a hard time finding a job since I'm moving into a new town soon, and then I slowly started applying for remote work. With this, I have my own time. The first step to success is to believe in your capabilities. 20 Small Business Ideas in the Philippines for 2020. We were always saying that we should do it, but it never materialized, until our bridal fair scheduled for May got postponed. I don’t do well with numbers but I had to learn how to do costing, profits and losses. Alberto and his fellow jeepney drivers who have little to no way of earning money. The first step to success is to believe in your capabilities. And of course, you’re working with a much smaller budget! Starting a new business or a side hustle can be really time-consuming and stressful, but if it's something you like doing already then it won't feel like work. As a consequence, this could also slow down recovery and potentially trigger more socio-economic problems. For as low as PHP 500, you can start selling your drink concoction. 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. I had a hard time finding a job since I'm moving into a new town soon, and then I slowly started applying for remote work. “It’s a lot more quiet than being a makeup artist. Little by little I would receive inquiries on Instagram even prior to announcing that I can finally start accepting orders. None of the suppliers were replying, stores still hadn’t figured out their SOP for online orders yet, so it was really such a hassle to find everything I needed. It’s scary at first, but what isn’t?”. 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. 61% of small-medium businesses (SMB) in Asia Pacific have reported a fall in sales due to the Covid-19 pandemic. 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. Also I get to spend more time with my loved ones since I'm just at home.”, What’s your advice for Pinays who want to shift careers or start side hustles and small businesses now? © 2015 Nine Media Corp. CNN name, logo and all associated elements ™ and © 2015 Cable News Network. 9 profitable Business Ideas to Start during Coronavirus Pandemic, Plan as early as Possible. None of the suppliers were replying, stores still hadn’t figured out their SOP for online orders yet, so it was really such a hassle to find everything I needed. Manila (CNN Philippines Life) — The COVID-19 pandemic has sent shockwaves throughout the globe, with the number of confirmed cases rapidly increasing as the epicenter shifts from east to west. It was an internal challenge of figuring out what I wanted then eventually how to make it happen.”, “Definitely positive feedback from other women. 1. Another challenge that we are constantly facing is being always available to our customers. It actually makes me more productive whenever I take breaks. While the primary concern is public health, a socio-economic crisis also looms on the horizon. “It was challenging to find a unique selling point in a sea of so many other great brands out there. I also learned how to do the labor-intensive tasks such as organizing the clothes in the warehouse and shipping out orders.”, “In a way, what I am doing now is similar to what I did in my corporate job. Lots of riders also took advantage of the low supply and high demand of delivery that they would charge a lot higher, so it was extra difficult to find riders who would take it for the price based on the delivery apps since that’s what we charge our customers. Now that Minikkins has grown, the new challenge I’m facing now is managing my time. “Just go for it! 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 financing needs of SMEs are even greater during an economic downturn. Then when the ECQ happened, I decided to just do it and shift! 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. Every entrepreneur faces challenges, doubts, managing risks, and making big decisions during this period. The couriers stopped shipping goods and delays were experienced at the customs. 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. We're happy that Emilia gets to help our kababayans deeply affected by the pandemic even just in a small way.” - Janelle, What’s your advice for Pinays who want to start side hustles and small businesses now? On top of my personal experience, I also heard different stories from other women about their period problems. However, when you’re running a business, you have to set those things all on your own and create a systematic way of working so that the business functions properly and grows at the same time. Now, I use the same tricks to produce content for beauty! They will build new businesses to respond to those changes. It's still a work in progress for us. Since we're also a new business, our team is only small so we work day and night to get everything done. But I continued to work on my vision. I would also wear extra cycling shorts or refrain from any light bottoms. Within this timeframe or period, some SMEs that are credit-constrained, to begin with, may see their working capital dry up and may not be able to continue operations. 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. In 2018, MSMEs generated over 5.7 million jobs. Since I'm used to in-person meetings. 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. The crisis exacerbates some challenges faced by SMEs. Social media is free: Facebook Live and Instagram Live are available at no cost to users. 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? As an employee, your KPI’s, targets, etc. Working at a fashion brand, then eventually going to fashion school pushed me to start a fashion-related business that I’ve believed in for such a long time, which was period underwear. Hopefully, we'll find our balance soon!” - Nicole. I started second-guessing if now is still a good time to sell my products and whether there would even be a market to engage. I love the relationship that I am building with my consumers and I think helping them explore their self-expression through makeup and my products has made my career shift meaningful.”, What’s your advice for Pinays who want to shift careers or start side hustles and small businesses now? “If it feels right, go for it and listen to your gut feeling. 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. 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). Have you ever heard about the phrase, omission bias? 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. 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. “It’s definitely this unique learning experience I wouldn’t have gotten as a makeup artist. I can work at my own pace, and I am at the comfort of my own home. budget to hire a photographer or food stylist. You have an idea? Baking cookies gets a little lonely with just the sound of music, clinking of the steel bowls, and the alarm of the oven. Part of the constant challenge I had to face while building my business was overcoming my own doubts. I still prepare all the cookie dough and pandesal dough before I clock in for work. According to World Economic Forum, digital penetration has been in Philippines. We don't really know when the wedding industry will be back, so we managed to launch the website in June.”, “We know mall shows, meet and greets, and live events are all paused now, so we thought it would be a good time to launch an avenue where personalities and their supporters can create more personal connections online.”, How different is this business from your old job? 1. When my dogs were sick, I had the money and people knew that, but it would seriously leave a dent on my finances. We use cookies to ensure you get the best experience on Cosmo.ph. If SMEs, which are typically unable to obtain loans from formal credit markets, are denied access to finance during an economic downturn, this may result in job losses on a massive scale. And most importantly, support your friends who also have businesses! By continued use, you agree to our privacy policy and accept our use of such cookies. “We get to learn about this new industry and we get to share beautiful designs that resonate with our clients’ unique experiences.” - Nicole, “For me, it's our partnership with #TaraTulongTayo of @tara.baraha! Find out more here. As an entrepreneur, if you understand and adapt to your challenges, you could start a thriving business during this pandemic. By choosing from the best business ideas in the Philippines that fit your values and market, you already have the battle half-won. Build on it! Small Business Ideas for Pinoys With Small Capital 1. Check out our massive list of the most profitable small business ideas in the Philippines. The only writing I do for Minikkins is writing the captions for IG and FB. Turner Broadcasting System, Inc. All rights reserved. Honouring your own pace is the greatest form of self-love that would set you up and sustain you for success.”, “I have always wanted my own business and be a boss for as long as I could remember. We asked 16 smart CEOs and business owners how they’ve adapted to our new virus-ridden reality. This was always something I wanted to do again. Cleaning services With the spread of coronavirus fears around the country, it should come as no surprise that professional cleaning services that sanitize offices, restaurants and homes are in … I was forced to make the decision to take an indefinite leave and this has honestly put me over the edge a bit. Subsequently, the government also unveiled a financial aid package worth ₱51 billion to subsidize wages and provide loan guarantees to MSMEs. The financial aspect of marketing can't be ignored. Yes prepare but also, don’t overthink it.”, “Baking has always been my passion and people have always pushed me to sell my cookies. “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. The 2011 Workplace Employment Relations Study (WERS) in Britain revealed that smaller enterprises (5 to 249 employees) were more likely to be negatively affected by economic shocks, relative to large enterprises (250 and more employees). This puts the livelihoods of millions of Filipinos at risk, and their households could become highly vulnerable to hunger and poverty. On top of that, it was also still so difficult to book couriers for the deliveries. She cuts all the dough balls, stuffs them, shapes them, bakes all the orders, and dispatches them. Best decision ever.”, It was a 9-5 marketing stint, wherein I had to travel 2-3 hours to get to the office! Source: [1] Freelancing taking root in the Philippines – study (Schnable, Rappler, 2018) Moneymax. “, What’s your advice for Pinays who want to shift careers or start side hustles and small businesses now? We incurred a lot of additional charges just so we could get the orders out within the day, which hurt our profit margins. “Learning how to handle a business all on my own and using the money I’ve made from it to help other people. Many small businesses have been hit hard by the pandemic. ? So we’ve decided to hire someone to help me with the orders. The main difference is the motivation and the drive to hustle is much greater now because it’s my own brand. Haha!”, “When I first launched Minikkins, it was right when lockdown started, so everyone was still panic-buying. I almost quit Emilia because it was taking a toll on my mental health but Nicole swooped in and saved the day. The impact of the pandemic will be more damaging to small businesses since large firms are more resilient than MSMEs in times of recession. Honouring your own pace is the greatest form of self-love that would set you up and sustain you for success.”, Why she started her business: “I have always wanted my own business and be a boss for as long as I could remember. I’m used to talking to strangers with my original job, but when talking to our customers, I realize I’ve adapted a certain tone and manner of speaking: mas pang-customer service, bubbly and sweet to match the homemade branding. The Singaporean government is providing wage subsidies to help enterprises keep their workers and a three-month deferment of income tax payments for companies and self-employed persons. This is where drive-in movie theater takes their spaces. I was anxious, but never ashamed, that this crisis forced me into unemployment and needed to find other ways to make a living. The effect couldn’t even be more glaring and damaging in the Philippines, where micro, small, and medium enterprises or … When my dogs were sick, I had the money and people knew that, but it would seriously leave a dent on my finances. Many have already found innovative ways to roll with the punches — from rethinking supply chains, redeploying staff, offering crucial advice, and even recreating your favorite bar online. Those stories were what pushed me to find a solution for myself and others.”, “I was a Marketing Assistant at a children’s fashion brand. You only need two people to operate the location. It also made me realize the importance of giving back, which is what we will do for our next collection. Rooted in our basic needs, here are the best business ideas in the Philippines you can venture on: 1. South Korea has also granted value-added tax (VAT) breaks for small businesses earning 60 million KRW or less a year. Why they decided to open their business: “I think it was our way of dealing with the quarantine. With this, I have my own time. Before I had to go on leave, I barely had time to explore my other interests. On average, this business can net you between ₱1,000 to ₱2,000 per month if you can sell a total of ₱10,000 to ₱20,000 worth of load. are all set for you. It’s been a good investment because now I can take in more orders! It sure made my life slow down a bit and appreciate so many things that life has to offer aside from flying while still getting to interact with customers.”. At the time, it was for extra funds for my dogs’ veterinary care (surgeries, cancer, general maintenance), and a productive break from the rigors of being a makeup artist.”, “It’s a lot more quiet than being a makeup artist. It's just something that we appreciate from the onset.” - Nicole, What were some of the challenges you had to face when you opened your business? 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. So it's a really different world and we both don't have any experience in home furnishings. What’s the best thing about opening your new business? But I continued to work on my vision. 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. Selling ice-cold drinks is one of the low-cost yet profitable small business ideas in a tropical country like the Philippines. SMEs and their contribution to jobs and employment. A percentage of the profit we earn from it will be given to those most affected by the pandemic, like. So we’ve decided to hire someone to help me with the orders. 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