The Philippines has seen stellar economic growth in recent years. Last year, this Southeast Asian country that has long lagged behind its neighbors posted the fastest economic growth in China, growing even faster than bigger economies like China and Vietnam.The Philippines has seen stellar economic growth in recent years. Last year, this Southeast Asian country that has long lagged behind its neighbors posted the fastest economic growth in China, growing even faster than bigger economies like China and Vietnam.
The Philippines’ economic growth is a good sign for those who are planning to set up businesses in this country. You don’t have to be a billionaire to start a business in the Philippines. There are a lot of small business ideas in the Philippines with small capital that you can use to start earning while being your own boss.
10 Small Business Ideas in the Philippines
Here are 10 small business ideas in the Philippines with small capital. If you’ll notice, these business ideas in the Philippines provide some of the basic needs of locals. Filipinos are known to be eager consumers, so these small business ideas in the Philippines are guaranteed to bring money to your pockets in no time.
1. Mobile Phone Prepaid Load Retailing
Because the country is known to be the texting capital of the world, this small business idea in the Philippines will surely make money. Prepaid load has become a basic commodity in the Philippines because almost everyone has a mobile phone, so this business is definitely a good idea. It’s easy to start this business: you just need a phone, a retailer SIM Card which can be purchased from mobile service providers, and you’re on your way to making money. What’s good about this business idea in the Philippines is that you don’t need a stall or store for it. You can provide mobile phone prepaid load from your own house.
2. Carinderia Business
Filipinos love to eat, so small eateries known as “carinderia” can be found in almost every street in the Philippines. Because locals love filling up their tummies, this small business idea in the Philippine is a sure winner. Of course, you need some basic things for this business idea in the Philippines. You will need a space, even a small one. You will need some basic kitchen utensils for cooking and serving food. Needless to say, you will also need a skilled cook and probably some servers. The logistics in setting up this small business idea in the Philippines might be a little tricky, but it will surely generate some cash in the long run.
3. Rice Retailing Business
In the Philippines, rice is considered a staple food. That is why putting up a rice retailing business can be a good small business idea in the Philippines. The major thing you need for this business idea in the Philippines is a reliable rice supplier. You will also need a small store and some basic items like weighing scales. You will also need to secure government permits for this kind of business, especially from the National Food Authority.
4. “Ukay-Ukay” Business
Selling second-hand clothes or locally known as “ukay-ukay” can also be a profitable small business idea in the Philippines. Filipinos are generally thrifty, and they are inclined to buy second-hand items to save some money. What you can do is find night markets where you can buy second-hand clothes, and then resell them in a small store in your area to make some money.
5. Photo Booth Business
Filipinos love taking pictures, especially during special occasions, so offering photo booths can also be a money-making small business idea in the Philippines with small capital. Of course, you have to invest money on equipment like the camera and the printing facility, but the rest can be easy. All you have to do is establish connections with people you know so that you can be invited to weddings, birthdays and other events. It really takes some good word-of-mouth marketing to succeed in this business.
6. Laundry Shop Business
Here’s another small business idea in the Philippines that will definitely attract customers. Washing clothes is a necessity, but a lot of people, especially those studying or working, do not have time to do it. You just have to procure the necessary equipment like washing machines and other implements for doing laundry like detergents and fabric softeners, and you’re on your way to making some cash.
7. Catering Business
This is also a good business idea in the Philippines, because Filipinos love two things: having fun and food. Locals in this country never seem to run out of reasons to eat, celebrate and hold festive events, so setting up a catering business in the Philippines can be profitable. All you need to have are good cooks, waiters, and basic catering supplies. A business like this also requires planning, so make sure you have the time and skills for this. You can also get some ideas from these best caterer in the Philippines.
8. Lotto Outlet
A lot of Filipinos try their luck on lottery every day, so you will certainly make good cash with this small business idea in the Philippines. The biggest requirement for this is a bond worth at least P300,000 for cash bonds and P700,000 for surety bonds, to be placed with lotto’s Treasury Department. Other than that, you will just need a small space where people can place bets. Just be mindful of zoning requirements, because lotto outlets are prohibited near churches and schools.
9. Meat Shop Business
Filipinos love eating meat, so setting up a meat shop can be a good small business idea in the Philippines too. What’s crucial about this business is finding the right supplier who can give you some quality meat products. You will also need some space for your meat shop, and you’ll also have to secure government permits, including sanitation permits.
10. Convenience Store Franchise
In the past year, having a convenience store franchise can cost up to 3 million pesos. These days, this capital has already lowered to a million pesos, so if you have this amount, it might be a good business idea in the Philippines to venture into the convenience store business. Locals like one-stop shops where they are able to find everything they need, and convenience stores provide them with a place to do this.
These are just 10 small business ideas in the Philippines with small capital. There are so many other small business ideas in the Philippines where you can earn some good money. Take advantage of the economic growth and start your own small business in the Philippines now.
Feature image credit: opensource.com