Nowadays, starting our own business has become much easier through the help of innovation and technology.
This helps us in providing a faster, more convenient, and more efficient way of performing business transactions.
The fast-growing economy of the Philippines offers a lot of opportunities, even for young and new entrepreneurs. If you’re a corporate employee who is sick of running the race to go to your office, a college student who is looking for an extra income, or a housewife that wants to provide additional income for your family’s daily needs. Starting your own business is now possible even if you only have a small amount of money as capital.
To help you out, we have provided a list of ideas for small businesses that require around twenty thousand pesos capital:
1. Online Retail Business
Thanks to the Internet and technology, opportunities for small businesses can now compete with bigger companies. You can actually start an online retail business even with the tiniest of budgets and the best things about it is that you can work practically everywhere.
When you are planning to do online retail business, you can also opt to create an online business page where you can promote and showcase your services or products. You will also get to enjoy more exposure and free advertisement from satisfied customers, plus, the fact that you don’t have to pay monthly rental space and utilities.
2. Photo Booth Service
Photo booth service caters event and gatherings that will give the guests hours of entertainment and preserve a memory of their event. This service is popular and it is now possible to ditch that office or retail job and make incredible money doing something that is fun.
This type of business requires a printer, a reliable DSLR camera, screen monitor, a makeshift booth and some props. Although the cost of the brand new equipment may exceed 20,000 pesos, you can also opt to buy second-hand items to start your own photo booth rental business.
3. Sari-sari Store Business
Sari-sari stores are small retail outlets that can be found in every corner of the street in the Philippines. This was considered as the most typical small business by people who want to have a business from the comfort of their homes or one that does not need much capital.
Starting a typical sari-sari store can cost as much as 20,000 pesos or below, but be prepared to put in a lot of work and dedication.
4. Party Needs Business
Here in the Philippines, there will always be children’s parties, baptismal, wedding parties, and other events that will need balloon decorating, souvenirs, entertainers, and other party accessories to complete the setup. Party needs business requires only a small starting capital, but there are plenty of opportunities to expand and make big profits.
If you’re planning to start this kind of business, make sure to team-up with reliable suppliers where you can get the items you need quickly and easily, and at a reasonable price.
5. Home-based Food Business
If you have the passion for cooking, then starting a home-based food-related business might be for you. This business is a trend right now and even produce some of the best desserts and home-cooked dishes in the market. Besides this, you don’t have to set up a real store or a restaurant just to have customers.
The cost of starting a home-based food business can be less than 20,000 pesos if you already have the cooking equipment needed. All you have to provide is the food or the product you are selling and the right marketing strategy to attract customers. But just like other business, running a food business from home has its challenges, but it’s convenient and cheap.