Best Business Ideas For 2018

DTI  Secretary Ramon Lopez encourages everyone to find the most suitable business for you. It could be the business which is most in demand in your local community or the business which you know about. Knowledge of the business you want to start is vital for your business to succeed. I could be acquired through experience or studied.
Having a sustainable business could give you a good income that you can use to sustain your daily expenditures, in paying your bills, loans, rentals or even house mortgages.

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We often hear people say that nobody could get rich just by being an employee. Business could be the key no matter how small you started, with diligence and hard work, your business will eventually grow bigger.

What are the best businesses to start this year?

1. Convenience businesses.
-food /grocery deliveries
-prepared food distribution/deliveries
-meals on the go
-private kitchen service
-catering service
-laundry service
-part-time house cleaning services
-part-time driving services
-handyman services

2. Health businesses
-gym
-sports training/courses
-healthy food

3. Caregiving businesses
-kids stations
-retirement centers
-center for special cases.

4. Tourism
-tour packages
-transport services 
-BNB
-tour guides
-gifts and souvenirs
-agri tourism
-farm tourism
-eco tourism

5. 24-hour service businesses
-convenience stores
-food/retail carts
-wifi cafe
-events planning
-recycling themed businesses

6. Waste Upcycling
-bags/accessories
-furniture

7. Technology Themed Businesses
-apps development
-online selling
-online lending
-bio-technology—oil extracts, perfume, food ingredients, personal care.

DTI  Secretary Ramon Lopez encourages everyone to find the most suitable business for you. It could be the business which is most in demand in your local community or the business which you know about. Knowledge of the business you want to start is vital for your business to succeed. I could be acquired through experience or studied.


This article is filed under: Business Ideas, Business Tips, Business Ideas in Philippines

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You Too Can Be A Millionaire By Doing This Business

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Many people say that you cannot be rich just by being an employee in your entire life even if you are having a high salary. The way to being rich is to study the best business options, start your own business and learn how to make it grow bigger.

This saying seems correct to the lives of Reynante and Raquel Manimtim, a couple from San Juan in Batangas, who once decided to resign from their regular job and put up a very small business starting from P1,000 capital.
They started selling banana cue at first, then they added more items as their capital begins to roll. Later they added "turon", sandwiches, pancit, lumpia, spaghetti, kikiam— they vend it around their neighborhood and after a tiring day, they earn only P100 to P150, not even enough to buy food for the two of them in one day.
Eventually, they decided to sell "siomai". After some time, their siomai sales has grown and they were able to buy a bicycle with a cart made of bamboo and tarpaulin roofing. Using this new transpo equipped with a charcoal stove for steaming their best selling siomai, they can even reach more places and of course it means more sales.
One of their customers introduced them the idea of taking a small business loan from the bank. They loaned an amount of P25,000 and bought a motorcycle, made a mobile food cart. that was on 2015.
A year later, they were able to  purchase more motorcycles. The business that started by Manimtim couple — named "Princess Siomai", has now 11 motorized foodcarts roaming around different parts of Batangas and even reaching Calamba, Laguna.

Their dream house was also built, and now has 1,300 sqm stock room, and another parcel of land in Batangas. With the help of their business which started small, they had also fulfilled their dream to have a church wedding.

Their diligence and hardwork were also recognized by their local government . They were given an award at the 15th CITI Microentrepreneurship Awards.
Reynante and Raquel Manimtim once again proved that riches could start from small beginnings. From earning P100-P150 a day, now they can earn as much as P50,000 in just one day!

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Starting your own business doesn't require having a huge capital. It doesn't even need for you to sell your house. Food businesses are the best small business option. Everyone wants to eat and at the end of the day, you can determine how much profit you got and you can roll over your capital in buying more products for your daily operation. 

Determine your skills and capability and make a specialty from your own recipe and as you start building clients, make your products consistent. Your market will build-up overtime if  you maintain the good quality of food and service. You'll never know, as you enjoy doing your business, money will continuously flow and before you know it, you already got lots of it.

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The very basic ingredients that you need are diligence, hard work and a strong faith in God. Anyone can be a millionaire from a business that started small. 

This article is filed under: Business Ideas, Business Tips, Ideas for Business, How to be a Millionaire

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5 Most Common Reasons Why OFWs' Business Fails

In spite of high salaries they received from working abroad, many Overseas Filipino Workers (OFW) still wants to go home as early as they can to be with their families. This is one reason why many OFW work hard and save harder to have a capital to start a business at home. 

Some OFWs succeed in their chosen businesses, but there are a lot of OFWs failed and forced to go back again to abroad for a living. Although there's a lot of factors why one business fails, as an OFW it is important to be aware of some common reasons or mistakes we may commit when starting a business.

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1. Entering a business or investment without a proper knowledge about it. 

This is very common to OFWs. We pour our hard-earned money into something we do not know. Just because we heard that our friends are earning big, we also want to join the bandwagon and put our money into it without carefully studying the venture if it is legal or scam.

Same also with starting a business, just because we see our neighbor's business is booming we try to imitate what they have and start our own as if we have same the same knowledge and business skills of our neighbor. Imitating a business is not bad, but make sure you have the knowledge to sustain your operation.

Read More: Business Ideas You Can Start From P2,000-P350,000 Capital

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2. Failure to apply your skills and knowledge to your business

Many OFWs are skilled workers but instead of putting a business in line with their skills and talent, they venture into something different or new to them. Nothing is wrong with starting something new, but in business, skills and talent of the owner are important to make the business grow. 

For example, a cook or chef abroad might start a carenderia or restaurant business in the Philippines. An engineer may venture into small construction firm and a bartender may start his own bar. As the saying goes " When you are good at something, don't do it for free."

According to the study of Economic Resource Center for Overseas Filipinos, 76% of business put up by OFWs failed not only because they lack the skills but because they were lured into business enterprises that they have no background about.

Read More: Top 12 Business / Investment Ideas With Small Capital
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3. Partnering with people who are incompetent or inexperienced

A business partnership is common with OFWs. Because they are working abroad, the tendency is to look a partner who will manage the business in the Philippines. A wife or another family members or a friend can be a OFWs' business partner.  Without direct supervision, the OFW is compelled to rely on the fate of the business to its business partner. This is the reason why OFW should choose a business partner who is competent to do business and how to run the business.

Read: 5 Franchise Business For As Low As P200,000

4. Not preparing their mind and heart for a business

Yes, capital is very important when starting a business, but OFWs should prepare mentally and emotionally for the ups and downs of having a business. There are many OFWs who are excited to start their own venture and when a problem arises they easily give-up and later realized that they have not prepared themselves emotionally and mentally. This lack of mental preparation has caused a lot of OFW businesses to fail.

Read More: 5 Best Water Refill Station Franchises in the Philippines

5. Lack of planning and poor management

Without a particular plan, a business won't survive. As an OFW, ask yourself, where your business will be in the next few months to the next few years. Failure to make a plan will damage your business. On the other hand, poor management also contributes to the early demise of your business. Examples of poor management are the inability to listen, micro-managing, lack of trust, working without standard or system, poor communication etc.. If you want your business to grow you have to consider these things because feedback is important in doing business.

There you have it Kabayans. If you want to start a business, consider five things mentioned above although there are a lot of reason why a business fails. The important thing is we do our best for our business that might give us stable income in the Philippines. Just continue learning and be ready to face the challenge.

OFWs can also ask help in TESDA for skills training and Department of Trade and Industry (DTI) for their business ventures.
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OFWs Who Wants to Settle Down? Here's Top 5 Business Ideas For You

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No Overseas Filipino Workers (OFW) wants to work abroad for rest of their lives. Almost everyone if not all, wants to go home to spend time with their family. 

But this is not all the case. Many OFWs are still working abroad for how many years now. Even others become senior citizen working in the other countries for their families.

But don't you know that there is business perfect for OFWs who want to stay for good in the Philippines? This is not easy, but worth trying. All we need is determination and persistence in learning this business and we should be financially smarter too.

Read: Top 10 Small Business Every Filipino Can Start With Minimal Capital

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1. REAL ESTATE

Aside from house for a family, many OFWs has already invested in some properties home, such as vacant lot, another house, an agricultural lot among others. Without income, these idle properties may cost yours in paying real property tax. But enough knowledge, OFWs can turn this property into income generating tools. 

Read: Top 12 Business / Investment Ideas With Small Capital

Owners can transform these properties into a boarding house, or apartment. You agricultural lot can be rented by someone who wants to farm. Your vacant space can be opened to people who are looking for space for rent. With these, your properties will be earning money for your family.

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2. FOOD INDUSTRY

OFWs can put up their food business, depending on their budget, knowledge, and skills. This industry offers a wide variety of business. You can choose from a simple carenderia to a small restaurant.

This is one of the most lucrative business in the Philippines. If you are OFW with passion in food preparation or culinary arts such as cooking and baking, this one is good for you.

You can venture in the food industry, open and offer something new to the public. If you want to venture with much lesser risk, you can buy the franchise from a renowned company. It will be easy for OFWs to penetrate the market since franchisors will aid them on the how to’s of running the business.

3. TRAINING CENTERS AND PLACEMENT FIRMS

With many years of experience working abroad, many OFWs have already know the know-how when it comes to working overseas. With their experience in techniques, they can start a training center or placement firm for potential migrant workers.

This is not just a good business opportunity, but also you can help your fellow men to look for a job abroad.

Skills training and job placement are both offered by a single company that coordinates with labor agencies overseas to look for possible job offers.

Read: Top 10 Businesses You Can Start Under Php 10,000 Capital

4. FRANCHISING

Franchising is not only for food stall because you can buy a franchise for lottery outlets, pharmacies, convenience store, remittance centers, gasoline stations, among others. With franchising, OFWs can have instant business set-up.

Usually, franchise owners will help buyers in every aspect of the business, starting from training personnel, acquisition of necessary documents, logistics, and others. While there are franchises that can be acquired with modest capital, bigger and more prominent brands require millions of pesos for the initial investment alone. However, these brands are renowned and the probability of success is much higher.

(7 Eleven is open for franchise)

(Petron Bulilit Station is open for franchise)

5. TRAVEL AND TOURISM

Like a food business, travel and tourism are a lucrative business for OFWs who wants to settle down for good. Aside from traveling back and forth from the Philippines to abroad for work, OFWs do travel too while in vacation here in the Philippines.

OFWs can take advantage of this as they know traveling better than anyone else. Travel and Tourism are good for OFWs who are exploring opportunities. Back in number 1, OFWs who have idle lands in a good location can convert it into resorts, hotels, or restaurants.

Read: DTI to OFWs: "Mag-Negosyo" as Alternative Livelihood
These are just few business for OFWs who want to settle down. So for those who are working abroad, invest on things you can use in the future for your families. Working abroad is not forever, so we have to think for our future.
This article is filed under: Business In the Philippines, OFW Business Ideas, Business Ideas, Business Tips

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For OFWs To Stay In The Country For Good: "Put Up A Business Here” - DTI

DTI urges OFWs to put up their own business here in the Philippines and to help with that, OFW loans are being offered to give them capital.
According to the Department of Trade and Industry, putting up a business here is the answer for the OFWs to stay here for good without the need of working abroad  and leaving the family for bigger income.
President Duterte in a speech with the Filipino community in Japan, stressed that this generation of  OFWs should be the last, and if they have to go outside the country will be just for travel and vacation.

OFWs seek jobs abroad  because of growing unemployment in the country . Lack of  opportunities due to age limit, and even if you found a job, it will be short lived because of contractualization. Investors that could have been job generators for the Filipinos do not want to invest due to rising criminality; fearing for their security.
The Duterte administration on its first 100 days addressed these issues accordingly, with war on criminality and drugs first on their list, security concerns for the Filipinos and foreigners alike are now handled accordingly, with thousands of drug addicts surrendered and caught, drug related crimes like rape, robbery, and burglary are minimal compared to the previous leadership.
Contractualization and age discrimination has been addressed as well.A new law that prohibits age discrimination in  hiring new workers has been passed.
The OWWA and the DTI  is also doing their part to strengthen the reintegration programs for the OFWs who wish to stay in the country for god. Livelihood programs and financial literacy programs is being conducted in different areas.
 DTI has put up a total of 300 Negosyo Centers to assist the OFWs who wants to start  a business in the country.
Putting up a business with regards to  Agripreneurship like livestock raising, convenience concept services like online selling, and services that  can bring the business direct to home.

According to Senator Cynthia Villar, it is important that the OFWs put extra attention in saving. She encourages OFWs to save and invest their money right .

DTI Secretary Silvestre Bello III said that they  already established  a mechanism for business and employment opportunities for returning OFWs.

This article is filed under: Business Ideas, Business Ideas for OFW, DTI, Business Tips, OFW Finance Tips

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Top 10 Businesses You Can Start Under Php 10,000 Capital

Many Filipinos are struggling to earn money either locally or overseas.  Probably, everyone would agree that no one really gets rich being an employee. And as the day to day cost of living in the Philippines becomes more and more expensive. Many are looking for ways to earn additional income, in spite of fear of  taking up risks as they enter into business. Starting on small capital business is the best way to test the waters and develop  entrepreneurial skills. 

If you want to start a small scale business, this list may help you develop an idea on the best business that you should enter into. 

10 Businesses You Can Start Under Php 10,000 Capital

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1. Online Business

(Photo by www.velquest.com)

Online Business offers wide ocean of opportunities as most people conduct and spend their day to day lives using internet. In this type of business, it is important to have a computer/ laptop, a good Internet connection, a website (maybe of your own), a bank account and trustworthy suppliers. Even through mobile apps and social media, you can conveniently boost your way of selling online.

Online business is not limited to goods like buying or selling. There are many service providers and professionals too who provides online services. Examples are those in IT sector providing website hosting and other professional services. Online advertising is also among the best online business.
You can do buy-and-sell online for lower prices and sell it in higher prices or sell products like jewelries, shoes, gadgets and clothing. If starting this kind of business, take advantage of social media and let your network of friends spread information and ask for their help in promoting your business.

To enhance your skills on this type of business you might want to take FREE online courses in TESDA for IT and more

Start-up Capital: Php 8,000+

2. Sari-Sari Store Business

(Photo by www.moneymakerphilippines.com)

One of the most common businesses in the Philippines is sari-sari store. It works by buying and selling commodities. This is a good business for those who want to gain profit with small capital. Although the competition in this kind of business is quite high specially in the Philippines where you can find sari-sari store or retail store in almost every street. The good thing about this is that it is easy to set-up conveniently within your backyard.

Start-up Capital: Php 5, 000+

3. Pastry Goods Services

(Photo by pastrieslikeapro.com)

Since Filipinos are known to have big appetite, pastry goods like brownies, cupcakes, and donuts can be a good business to start. If your hobby is baking, this business is perfect for you! Also, these fluffy baked products can easily attract customers if you beautify it with different candies and other toppings. You can start in your home and make use of your existing baking utensils. first target customers can be your friends, relatives, and neighbors either online or personal. Also, you can start accepting personalized cake orders for various events. And post advertisements online for your baking products.

To enhance your skills on this type of business, you can take up TESDA courses for culinary and baking

Startup Capital: Php3, 000+

4. Street Foods Business

(Photo by insidemabie.blogspot.com)

Almost every Filipino digs into street foods anytime, anywhere. Eating “inihaw” has been a modern culture emerging in our country because of its delightful taste at very affordable prices. Take note that this type of business is more applicable in places with high human traffic. Moreover, this kind of business can also attract customers based on how it tastes and how much it costs. “Uling,” Griller and other equipment should be prepared for barbeque, isaw, adidas, etc. Hence, be prepared also in providing “sawsawan” or condiments for your street foods which is consumers’ all-time favorite! Street food business is of course not limited to ihawan, but can also include any food that can be prepared or cooked even on side walks. Some street food business include ready to go siomai, fishball, peeled mangos and santol, burger and many more. There are endless possibilities, be innovative.

To enhance skills, TESDA have training centers that teach food preparation and culinary skills. 
Startup Capital: Php7, 000+
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5. Ukay-Ukay Business

(Photo by www.topten.ph)

More Filipinos continue to patronize “Ukay-ukay” or local stores offering imported products at low prices. Bags, clothes, and shoes are few of the products sold from different countries. You may sell “ukay-ukay” by opening an online shop and by using social networks like Facebook so you can make use of your network or connections to inform them of your new business. In addition, you can try buying products online, re-designing and cleaning it and selling it for an appropriate price. Just be patient and learn to manage it well and slowly your business will grow.

Startup Capital: Php8, 000+ for at least 150-200 pieces of apparel

6. Poultry Farming

(Photo by www.beginningfarmers.org)

 Yes, for a small capital, you can start poultry farming as a new business! With this type of business, it is good if you are into the hobby of taking care of animals like pigs and chickens. Poultry farming can be your new career if you have big space like in your backyard, or an open field where you can utilize the animals’ place to avoid stinky smell and loud noise. Proper management is needed to watch over the animals as they grow.

You might also want to take advantage of FREE Trainings and Poultry courses online through the Department of Agriculture to earn management skills for this kind of business.

 Startup Capital: Php6, 000 for around 15-20 chicks.

7. Cellphone Loading Business

(Photo by www.beeconomic.com.ph)

 In our modern generation, a lot of Filipino today has cellphone. That is the reason why cellphone load selling is a perfect “sideline” for people who go to office every day. In that case, your customers would be your co-workers in the company. The advantage of cellphone loading business is that cellphone load won’t get spoiled compared to foods. For example, a load of Php 1,500.00 will last for even a year! You just need to go to the respective loading stations and ask for assistance in load selling. In this type of business, you need a retailer sim card, a cellphone for load selling and the balance which you will sell.

Startup Capital: Php4, 000+

8. Palamig/ Shake Business

(Photo by doxo.com.ph)

One of the businesses that can earn easily during summer and even regular days is selling “Palamig”/ Shake. This is good business for people who travels to work, school, anywhere just to quench the thirst they felt as they travel. Remember that consumers want cold drinks with a nice taste so be sure to mix the ingredients of making juice and shake perfectly. Be ready to look for a nice container where you will put the palamig and also the plastic cups to be used. You may also use bottled juice and label it simply with printouts of the brand you created.

Start-up Capital: Php 8,000

9. Burger and Fries Business

(Photo by www.recipeshubs.com)

Most of Filipinos can’t afford to buy a franchise for a business, so in putting up a burger and fries stand, you can sell in front of your house, making sure you have the necessary business permits. You should also be aware of the equipment to be used for cooking fries and burger such as burger griller and LPG gas and the raw materials to be sold. You may also look for a supplier that gives cheaper cost of raw materials you need. Also, you should provide a proper storage for your food to avoid spoilage.

Start-up Capital: Php 5,000+

10. Gourmet Delicacy

(Photo by www.notey.com)

 Bottled "tuyo" and "daing" are gourmet delicacies you can try for business. You can sell it to your online friends, balikbayan visitors you know and even your relatives. Even in bazaars, gourmet delicacies can be sold. You just need to prepare the needed ingrediates and packaging for making gourmet delicacies. Moreover, you can also create new "pasalubong" favorites by the ideas you researched from internet. Take note of checking possible leakage in sealed bottles to avoid rejects and spoilage.

Start-up Capital: Php 5,000

This article is filed under: Business Ideas, Business Tips, Low Capital Business Ideas

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