small business planning in the philippines

• Skip to primary navigation
• Skip to main content
• Skip to footer

150+ Profitable Small Business Ideas & Opportunities in the Philippines

Last Updated on – Apr 22, 2024 @ 8:29 pm

What’s the best business idea to start in the Philippines? When starting any type of business, don’t expect it to make you an overnight millionaire. It takes research, hard work, and resources.   That said, some of the best business ideas with the biggest earning potential are often service-based that include freelancing, consulting, and brokerage because of their low capital investment. You also don’t need to worry much about high operational costs.   Online selling is another extremely profitable business idea. Whether you want to sell on an e-commerce platform, post on FB marketplace, or try live selling, this will enable you to expand your business’ reach to a wider audience (and sales) quickly.

See our Editors’ Top Picks

Dreaming of setting up your own business in the Philippines but don’t know where to start?

You’re in luck—here’s our massive list of small business ideas to kickstart your vision into reality.

Why is it a good idea to start a business this year?

Answer: The Philippines is experiencing some serious economic growth right now making this a great time to ride the wave.

Our study shows that the preferred investment strategy for most Filipinos (27%) is to start their own businesses, rather than choosing other investment vehicles.

It surely is the best time to start investing to build your own business.

What is a Business?

An entity or an enterprise that is committed to providing goods or services in exchange for some form of payment. In its most basic form, to do “business” is to make a living through commerce.

Best Small Business Ideas in the Philippines [Editors’ Picks]

Here are our top picks for the most promising business ideas to pursue – carefully handpicked drawing upon the wealth of insights and lessons we’ve gathered from brainstorming and starting our own businesses.

1. Online Selling

It can be very lucrative to sell your products online because it lets you operate your business without a traditional shopfront.

What’s more, your customers can purchase your products any time and from anywhere. In the Philippines, there are popular shopping platforms like Shopee, Lazada, and Facebook Marketplace where you can sell your products easily .

You just have to create a seller account. If you lack the funds to start an online shop, you can try dropshipping. In dropshipping, you receive an order, you forward the order to the supplier, and then the supplier fulfills the order.

2. Street Food

Is there anything more classic than the fish ball stand?

For decades, the classic favorites: Fish balls, kikiam, squid ball, isaw, barbecue, tenga, betamax, balut, manggang hilaw, and others have been a part of the Pinoy’s daily culture.

Selling street food presents a lucrative opportunity, especially in places with a vibrant street food culture like the Philippines, thanks to several compelling advantages.

With lower startup costs than traditional restaurants, entrepreneurs can easily enter the market with just a cart, basic cooking equipment, and initial ingredients.

The high demand for street food, driven by its affordability, convenience, and variety, caters to a wide audience, including busy students, workers, and tourists seeking authentic experiences.

Vendors benefit from operational flexibility, choosing when and where to operate for maximum sales, and enjoy lower overheads, leading to higher profit margins. The rapid preparation and service of street food ensure a fast customer turnover, boosting both satisfaction and profits.

Moreover, street food’s cultural appeal and the opportunity for innovation allow vendors to experiment with minimal risk, potentially creating unique offerings that attract attention and build a sense of community.

3. Short-Term Rentals

Short-term rentals refer to the practice of renting out furnished living spaces for short periods, typically ranging from a few nights to several weeks, as opposed to traditional long-term leasing agreements.

These rentals are often facilitated through online platforms like Airbnb, Agoda, and Booking.com, which connect property owners or managers with travelers or individuals seeking temporary accommodations.

I heard from Tim Ferriss’s interview with AirBnB co-founder Joe Gebbia that they initially rented out Airbeds for their paying guests, hence the name, Air Bed & Breakfast or AirBnB.

For the uninitiated, AirBnB allows owners of houses and condo units to rent out their spaces to guests for a fee. They are significantly cheaper versus staying in a hotel that’s why popularity has been steadily rising in the past few years. If you have the space, you might want to check this one out.

4. Vending Machine

If you’re looking for a business with minimal supervision, this one’s a good choice.

Regular maintenance and re-stocking will be your prime tasks here, virtually no manpower for day to day operations is required.

5. Digital Marketing Services

Having online presence and making sure people can easily see a company’s website online can make or break a business. Digital Marketing services offer solutions to website owners who want to reach a wider audience and generate more potential customers /revenue.

As a provider, you can sell your expertise in SEO, Social Media, Content & Email Marketing to businesses looking to grow their brands online.

You can easily find clients to work with through freelancing websites such as Upwork, Freelancer.ph, and Manila Craigslist. And eventually scale by starting your own website where you can promote your services, and by building a team who you can delegate tasks to complete your projects.

6. Meal Prep Service

A meal prep service is a business that prepares and delivers cooked or ready-to-cook meals to customers’ homes or workplaces.

These services typically offer a menu of meal options, which might include a variety of dietary preferences such as vegan, vegetarian, low-carb, or gluten-free meals.

Customers can order meals for the week ahead, selecting from a range of dishes based on their dietary needs, preferences, and goals (such as weight loss, muscle gain, or simply enjoying healthy, balanced meals without the hassle of cooking).

Why is it a good business idea?

7. Dropservicing

Dropservicing, also known as service arbitrage, is a business model where a person or company sells services to clients and then outsources the work to freelancers or other service providers, often at a lower cost.

The dropservicer acts as the middleman between the client and the service provider. This model is similar to dropshipping, which is used in the retail sector, but instead of tangible products, dropservicing deals with digital or professional services.

The key advantages of dropservicing include lower overhead costs, as there’s no need to employ a full-time team or invest in product inventory.

It also allows entrepreneurs to start a business in various niches without needing to be experts in the field themselves.

However, challenges include managing client expectations, ensuring the quality of work from third-party service providers, and navigating the competitive landscape.

Here’s how it typically works:

The dropservicing business markets a service, like graphic design, web/app development, content writing, video producing, social media, or SEO services, to potential clients

Once a client is interested and agrees to purchase the service, they pay the dropservicing business at the price set by the business.

The dropservicing business then hires a freelancer or another company to perform the service at a lower cost than what the client paid.

The service is delivered to the client under the branding of the dropservicing business. The business makes a profit from the difference between what the client paid for the service and what the dropservicing business paid the freelancer or service provider to do the work.

8. Party Equipment & Needs Rental Services

A party rental service provides a range of items and equipment for rent to enhance parties, events, and gatherings. These services cater to various event types, from children’s parties and family gatherings to more significant events like weddings and corporate functions.

They offer a convenient solution for hosts looking to create memorable experiences without the need to purchase all the necessary equipment. Beyond the basics like karaoke machines, tents, tables, and chairs, here’s a short list of unique and engaging items that can be rented out for parties:

9. Smart Home & Automation Services

For engineers and techies who are abreast with the latest in smart home tech and automation systems, this is one practice you can excel at.

We’re a bit behind in terms of these types of modern conveniences (like smart locks, smart security systems, appliance control, and pet care) and it’s about time that we catch up.

You can start small by offering consulting services at first, and having your clients buy the necessary equipment while you take care of the technical side for installation and maintenance.

10. Ready-to-Assemble Furniture

Thanks to the natural abundance of wood, our country is home to skilled woodworkers who produce world-class furniture for local and import.

With the right channels, you can set up a business by sourcing (or through consignment) from a local manufacturer while you focus on logistics/delivery system and marketing.

11. Storage Rental Services

With living space becoming such a premium commodity these days, having a dedicated area to safely tuck away your important stuff or memorabilia is important.

Storage services are popular abroad, and in the Philippines, sites like Kahon.PH and StorageSpace.PH offer the same experience to our fellow Pinoys.

You can start small by renting a small industrial space or warehouse where you can build several storage units you can rent out.

12. Junk Shop

Junk shops earn money through buy and sell. Scavengers sell them junk which they buy per kilo. The shop will then sell it to partner recycling agents who will convert the junk to recyclables.

13. Home & Office Furniture Rental

This is a niche market for those looking into leasing their products instead of selling them. I’ve seen ads online where they offer short and long term “contracts” depending on the client’s needs.

Why rent furniture?

Like renting apartment houses, vacationers who stay in the places they visit for longer periods of time (a few months to a year) can make their living spaces feel more at home with rented furniture.

Definitely saves on money and effort versus importing their own furniture from abroad.

Entrepreneurs can use this same concept when building their companies from scratch. Instead of buying furniture for their rented office space, they can lease them for a year and just renew as they see fit.

They’ll save on start-up costs and can easily “dispose” of the furniture should the business fail. Aside from furniture, you can also choose to lease out computers and other office equipment to business owners (or even offer rent-to-own options for all your products).

14. Business & Company Incorporation Services

Building a business is no easy task. With all the legal paperwork required, you’ll probably need professional help to make sure all bases are covered and with zero loopholes.

Incorporation services make the process streamlined and easy for clients. If corporate and legal matters are your thing, this is a potential business venture.

Also read: How to register a corporation in the Philippines

15. Videography Business

We Filipinos love documenting our lives. From a baby’s christening to its 1st birthday, graduation, debut, wedding, reunions, and pretty much anything else.

Videography services can be a lucrative business if you have the skills and a creative team behind you. Outside family events, there are also other opportunities you can delve into that would pay lot more, such as covering conferences/conventions, producing online video commercials, cinematic real estate videos, as well as live recordings of concerts and festivals.

Other Negosyo Ideas Worth Exploring in 2024

We have also curated other entrepreneurial opportunities below (or what we can consider as honorable mentions) – that focus on innovative and proven profitable business ideas.

Out-of-the-box & Creative Business Ideas

We know you want more, so we’ve created this section for the more creative thinkers out there looking for maverick business ideas.

Have you ever seen those “Sleep Pods” in Japan? These are tiny “rooms” that people book solely for sleep because that’s all you can really do inside given the miniscule space. Cute concept, huh?

Around the world, the concept transformed itself into full-blown relaxation havens called Sleep Capsule Hotels that combine sleeping amenities with relaxation options to make it more enticing to guests.

This New York times article reported that Electric Bikes (E-Bikes) are getting a significant boost in adoption worldwide. Sales of these battery-powered bicycles are starting to reach new highs that numbers are projected to grow to 35 million in 2018 worldwide.

What makes E-bikes an interesting business proposition? For starters, units costs a lot less versus owning a car/motorcycle dealership and more people are starting to love the concept of an electric-assisted bike.

What is a 3D Printer, you ask? It’s a device that turns a design into an actual, physical prototype.

Cool, huh? So if you ever wanted to design a plastic keychain of your head, (not sure why that’s the first thing that came to mind) this is what you’ll use.

These things are pricey but prices have actually gone down significantly since they were first introduced years ago. Aside from manufacturing stuff from scratch, you can also customize or improve existing items for your customers.

Image Credit: ICO Pulse

Unless you’ve been living under a rock in the last 5 years, you probably heard about Bitcoin and other types of these so-called Cryptocurrencies . Yes, it is really happening.

Globally-recognized companies have already started investing in these and even governments and banks of some countries are starting to test the waters of this digital mode of payment.

This rising adoption translates into a steady increase in Cryptocurrency owners.

That’s where Crypto ATMS come in. Aside from being a hub for existing owners to buy and sell cryptocurrency with cash, it makes the process of getting into cryptocurrencies for newcomers easier due to the physical nature of transacting with a machine they are familiar with.

As an owner or a Crypto ATM machine, you’ll earn via transaction fees.

Image Credit: Turbo Future

Don’t let its name intimidate you. It’s essentially an internet-cafe business sans the shop and computers but with boosted WiFi coverage area.

If you’ve ever tried connecting to a public wifi network and got routed to a web page asking you to log-in, that is basically it. But before you can do so, you’ll be asked to buy credits so you can connect and surf using that wifi connection.

Simple enough, right? Citywide Prepaid Wifi Hotspot Services aim to do the same thing—but at a much, much wider scope.

Remember that scene in the movie, “Jerry Maguire”? Cuba Gooding Jr was talking to Tom Cruise (his agent) over the phone when he started yelling “Show me the Money!” As an agent, it’s Tom’s job to find and land a great contract for Cuba.

If pro athletes, movie stars, authors, celebrities, etc., hava agents, then perhaps the same concept can be used for “ Influencers ” , right? These are the people who command a gigantic following in social media.

Their thoughts, opinions, and even the stuff they use greatly influence their followers.

An agency or talent management for influencers (or even video game streamers) can serve as their own agent that will handle contract negotiations, business and legal deals, and finding more clients.

Image Credit: Yahoo! News

As of 2017, there are 220,000 registered public jeepneys nationwide but 90 percent of these are in service for more than 15 years.

A modern jeepney franchise will allow you to operate a fleet of new jeepneys that are approved by the Department of Transportation (DOTr). And while one might argue jeepneys numbers are slowly dwindling, they are never going away.

There’s a need for this type of transportation so demand will always be there.

Image Credit: Dota Buff

Did you know that some Dota 2 players here in our country consistently bag millions of pesos from tournaments?

That’s right, millions. And we’re not talking about 1-million peso team winnings here, but multi-million pot earnings that when totaled can reach almost the hundred-million peso mark. Google “TNC team earnings” and you’ll see exactly what I’m talking about.

TNC is a local Dota 2 Pro team.

Given the right players and resources, an esports team can start winning tournaments local and abroad and cash in on the big bucks. Who knows?

E-sports ain’t like basketball, you don’t have to be tall and be blessed with basketball genes to be a serious competitor (companies like TaskUs also started investing to start their own esports team ).

And teams like TNC proves that we can compete and win tons of pot money in a competitive arena.

When Grab and Uber started catching fire in the Philippines, thousands of car owners started driving their own vehicles as a side hustle. Others had bigger plans in mind, so they started buying multiple cars and hiring drivers similar to the concept of owning a fleet of taxis.

Ride-sharing platforms like Angkas, JoyRide, and Move It are steadily becoming an essential part of the lives of thousands of commuters in the metro today.

All three are modeled after Uber, and the same core concept of fleet ownership can be applied (own multiple Angkas licenses and hire several riders, for example) with you running the whole thing as the operator/owner. 

The concept is not only limited to a ride-hailing platform like Grab. You can apply the same core structure to other business ventures.

Sharing economy platforms like Raket.PH, Gawin.PH, CleaningLady.PH, and MyKuya, serve as online marketplaces where you can hire professionals and freelancers to do tasks .

Others, like Transportify and Lalamove offers logistical services allowing you to hire vehicles to transport your stuff.

Applying the same framework, you can create your own fleet of service professionals or transport vehicles and provide service through these online marketplaces.

Rage rooms are places where people can come in and start smashing stuff up with the goal of venting out pent up anger.

Some say it’s therapeutic, because the actual physical act of destroying things lets off steam and stress. Rage rooms (sometimes called smash or anger rooms) have been around for a while now and can be found in various cities around the globe. 

These are essentially soundproof tiny offices, about the size of a typical office cubicle, that can be installed anywhere. The purpose is to give users a space where they can work and have privacy.

In Japan, these are commonly known as Telecubes, and can be found in hotels, buildings, and even convenience stores. It provides a convenient and decent space to get things done whether it’s for work or personal stuff. 

“IV”, which stands for intravenous, is a method for delivering fluids to the body through the veins. IV therapies are administered by healthcare professionals to ensure proper procedures are followed.

The actual IV solution will vary depending on the customer’s needs. Some IVs contain different types of vitamins and minerals, antioxidants, and even antibiotics.

A Mobile IV Therapy business can function as a per-session service (can come visit the patient) or serve as a kiosk for walk-in customers.

Although a relatively new concept, ADU is another investment Filipinos could look into. These auxiliary apartments serve as secondary houses or spaces shared with the primary home for affordable alternatives. 

According to statistics, CALABARZON, Western Visayas, and Central Visayas are three of the most prominent migration places in the Philippines in 2018. Individuals over 15 years old have experienced migration (regional or local) in the Philippines primarily for educational pursuits. 

With these insights, ADUs will likely thrive in areas where there are offices or colleges nearby. It will be a plus if your location is situated near a tourist spot too! These economic accommodations provide a win-win situation for the business owner and those who are looking for accommodations at competitive prices within the metro. 

You can go eco-friendly and check for container van suppliers nearby. There are pre-fab ones that you can check to make the transition more accessible and convenient.

In its October 2020 issue Labor Report, the PSA cited that the employment rate has risen to 91.3 percent from 82.4 percent back in April of the same year. The current economic outlook is optimistic, with more vaccine roll-outs given to the masses. 

With the economy slowly opening up, businesses may soon resume the usual working environment. And when this hits, you need to be poised to take the opportunity. 

Enter Edu-ployment . 

For this, you basically need to search niche markets and check those that are highly in demand . Search Google and job boards to see the kind of skills you’ll be offering to the market. From here, you can provide training materials to help these individuals to succeed in their chosen industry. 

Edu-ployment such as Acadium has already established itself as a dominant player in this expertise. Using apprenticeships, the business serves as a platform to link an apprentice to a company. You can also take advantage of local Facebook groups and use them as a job board to train potential apprentices. 

Draw inspiration from influencers of your chosen niche. You can then start providing valuable content through Youtube—or even start a podcast. These mediums could serve as a lead generating machine to help you network and find potential individuals to teach the skill.

We are no strangers to a work from the home set-up. From a study done by Lenovo, there’s a 72 percent shift in the workplace environment from offices to work-from-home set-ups in 2019. The potential demand for this could spell M.O.N.E.Y for you. 

A workplace should provide as much comfort as possible. Find furniture, office accessories, and gadgets that promote health optimization. For example, you can look for equipment and other accessories that promote better back alignment, better hand rest, and even better headsets. The key is to provide optimum quality of work-life—even from home. 

Architects may also find a good pool of clients in this niche if they offer home interior design for home workspaces. You can act as a consultant in helping them utilize even a limited space.

NFT means “Non-Fungible Token”. They are unique tokens in cryptocurrency which represent a one-of-a-kind asset or good. Blockchain technology creates these tokens, which can be bought, traded, or sold.

When you use these tokens, you can earn cryptocurrencies which can be converted into cash in the real world. An NFT game that you can try is Axie Infinity, where you can earn cryptocurrency called Small Love Potions (SLP).

Players of the game can earn money by exchanging SLP for other cryptocurrencies and real money, by breeding and selling Axies to other players, and buying land plots which can be sold for a higher price. You don’t have to be a player yourself. You can choose to invest in e-sports players/gamers. The minimum initial investment for Axie Infinity is Php40,000 – Php60,000.

Many Filipinos love drinking coffee, so it is no surprise that mobile coffee shops are growing in popularity. If you have no idea what a mobile coffee shop is, it is basically a food truck or food cart that sells coffee.

Needless to say, you will need a vehicle of some kind to start this type of business. With a mobile coffee shop, you can “open” your shop at one location and then transfer to another location the next day. Some people think this is an advantage because you can go “where the people are”. 

You’re not going to believe how many people are willing to pay you just to get a good night’s sleep. This is where sleep optimization comes into the picture.

This industry is forecasted to become a $112.7 billion industry by 2025. If you ride on this trend, you may hit the jackpot.

But what exactly is sleep optimization? Sleep optimization is the process of optimizing the sleep of a person by monitoring his/her body statistics and the environment around it. It includes sound therapy, optimized lighting, and appropriate temperature in your bedroom, among many others.

By understanding the process of sleep optimization and the technology behind it, you can create a business out of it. You can provide your services to hotels, hospitals, and individuals.

To say that there are tons of opportunities in this industry is an understatement.

Other products that are related to this sleep optimization include sleep-enhancers such as:

• melatonin gummies
• meditation & healthy sleep apps
• gravity blankets
• sleep masks
• top-notch mattresses and pillows.

You can also capitalize on sleep education and release courses, videos, and books.

We also highly recommend checking out this list of small business ideas curated by Juan Investor !

Freelancing Business Ideas

It’s almost a requirement these days for businesses to have their own website. If you know how to build and design websites, there’s an ever expanding market both local and abroad.

These days, we use apps for different things: to order food, to pay bills, to watch shows and movies, and many others. While app development can be lucrative, you will need to invest plenty of time and effort upfront.

However, if you believe that you have a great idea for an app and you think the app will be a financial success, then go for it and develop your own app.

If you have no idea how to develop an app, you can hire individuals to design, develop, and deploy it  for you. 

Offering your camera skills to capture memories (weddings, birthdays, etc) or for professional purposes (businesses, commercial use) makes great use of your creative skills while generating a handsome fee.

Ever wondered how your friend pulled off that amazing aerial shot of an island in that video he posted in Facebook?

Thanks to drones, you can produce footage that were only previously achievable through professional and expensive video equipment. Offering drone services for a variety of purposes (creative video, security surveillance, filming, etc…) can be a unique way of generating income.

Did you know that the most popular online job in the Philippines right now is Virtual Assistant? Filipino VAs are popular to clients abroad thanks to our natural capacity to handle tasks and assist in a variety of ways.

Learn More: Virtual Assistants – what do they do and how to become one

If you love making other people look good through styling, hair and make-up services can be a cool way of earning extra bucks.  

Put your creative juices to good use! Companies and clients pay a handsome fee for services that produce rich and amazing multimedia content.

Editing skills will always be in demand as long as content for both print and the web is produced.

If you love writing, you can write content for websites (blogs, articles, product reviews, etc) and get paid for it.

Writing e-Books as a Ghostwriter commands a much higher fee that easily goes beyond more than a few thousand pesos.

If you’re interested in producing written content from audio and inputting data in systems or spreadsheets, this is another potential income source.

Translation services typically command a higher fee due to the expertise required on a certain language(s).  

If you have the passion for teaching others, you can help while earning money at the same time. So whether your a Math savant or a Voice coach, get out there and earn while helping someone be good at something!

You can share your skills by tutoring students online. Some of the things you can teach are language and different school subjects.

In case you didn’t know, there are websites where you can post your resume and where potential clients can contact you for lessons. It is usually free when you make an account on these platforms, but there are those that also offer paid premium plans that let you promote your profile or contact possible clients directly.

In love with beautifully-crafted lettering? Lots of people appreciate the exquisite art of calligraphy and are willing to pay you to teach them how.

Spying on someone can be a good thing, and you can even get paid for it. If you’re up to the demands of the job and have the skills, you can set up your own private security firm and charge a fee for detective work.

With our natural capacity to speak and write in English, telemarketing and phone support is a solid way of earning moolah.

And you can do this at home! Talent sites like UpWork and Freelancer allow contractors like you to find clients who are willing to pay for your phone skills.

Related:  Business Process Outsourcing to the Philippines [Complete Guide]

Does Apo Whang Od ring any bells? Yes, the booming tattoo industry is sought by many (if not thousands) Filipinos looking to get inked.

The latest style and trends range from minimalist wave tats to hard-core realistic designs. It’s a definite tell-tale sign that this industry is going to fly high. 

Take advantage of the current demographics to start your tattoo business this year. Look into popular trends and ride the waves. Do your research diligently and snoop around forums and social media groups to see what your potential clients would go for.  

With a little bit of creativity and a few thousand pesos to buy for materials, starting a tattoo business will only require you to follow health protocols mandated by the Department of Health. If you have a passion for teaching, you can begin a course targeting those who might be interested to learn the trade. 

Niche down if you must. You don’t want to be labelled as a ‘so-so’ tattoo artist. You can specialize in specific tattoo designs such as minimalist, text, cover-ups, and many more. Once you’ve chosen a niche, look into other artists doing the same and follow what they do. You can start building a portfolio using your social media accounts (hello, Tiktok !).

Food & Beverage Business Ideas

If there’s a business that will never go out of style, it’s eat-all-you-can buffets. There will always be a market for buffets because of the fact that Filpinos are food lovers.

You can have your own buffet restaurant by purchasing a franchise or building your own. This business can have a huge potential especially if you are knowledgeable about certain types of food.

You can focus on desserts, Filipino foods in general, foods in your province, or international dishes such as Mexican, Italian, and Asian.

Related: 14 Food Business Ideas

Love to bake? Folks love a good cake and other baked goodies. Whether it’s a creamy red velvet cupcake or an Elmo-inspired birthday cake, there will always be demand for rich, delicious bakes

Buy them by the sacks, sell them by the kilo. With rice as a Filipino food staple, there will always be customers.

Demand for a good source and delivery service of drinking water will never run out. And with more Filipinos opting to live in condominiums , snagging a whole floor or building of customers for water delivery sounds very profitable indeed.

Filipinos love events. And what does an event needs to make sure attendees are happy? Good food. You can start by catering your neighbor’s birthday party and then move up to more commercial events like weddings and small corporate events.

The family that eats together, stays together. Filipinos love eating out. So whether its a simple neighborhood eatery or tapsilogan, you can always count on FIlipinos’ love for good food for demand.

My favorite is Sago’t Gulaman. I’ve seen Palamig stands in MRT flocked by thirsty commuters for their Buko Pandan and Pineapple coolers.

And there are also many local delicacies to explore, think about all the “kakanin” you have craved over and over again – because most likely – you’re not the only one craving for them.

As an ingredient used on a wide variety of foods and a breakfast must-have, eggs always had strong demand from both household and commercial customers.

Pork chops, beef strips, whole chickens, and a whole lot more—meat shops are one-stop stores for customers looking to stock up on their meat supplies.

From moms looking to cook her kids caldereta to the cook buying chicken wings for his food stall, expect customers to score their favorite cuts by the kilo.

The boom of Food parks in the last few years is testament of the Filipinos craving for a good spot that serves a variety of food. If you have a good product, you can sign up for a spot on a food park.

Even the classic Buy-1-Take-1 burger joints and siomai stands are good alternatives if you prefer to take the solo route.

Have the know-how to brewing beer? Thanks to the internet, having access to the equipment and ingredients to start brewing your own servesa has never been easier.

If you have a winning product, you can start offering it to bars to spread the brand name or sell it on your own online.

Health aficionados helped drive the sales of organically-produced food in the recent years. And with more Filipinos becoming conscious about their health, you can target this demographic and get yourself a solid customer base.

You can also sell your products to restaurants of course.

The Philippines has a growing coffee culture and the increasing demand for community-centric spaces where people can relax, work, or socialize over a cup of coffee.

Additionally, the versatility in coffee shop concepts, from local kapehan to specialty coffee, offers broad market appeal, tapping into both the traditional and modern preferences of Filipino consumers.

Online food delivery services like Foodpanda and Grab make it easy for Pinoys to order their food online. Others cook and deliver home-packed meals to busy working Pinoys who don’t have the time to leave their desks for a delicious meal.

Opening a craft beer pub attracts other folks with the same passion for craft beer. It’s akin to finding a niche product and having a solid base of enthusiasts willing to be paying customers.

Also commonly known as food trucks, Mobile Kitchens are essentially customized vans/mini-trucks equipped with cooking equipment. 

It provides plenty of flexibility and mobility in terms of when and where you want to set up shop.

More importantly, it possesses a certain charm that makes it very popular among food fans. In the US and other parts of the globe, food trucks are a part of the culture, and a thriving business niche on its own.

Aside from being valued at USD 140.3 billion 1 , anyone who is into health-related niches will find themselves in a sweet spot. 

A study shown in Rakuten Insight showed 68 percent 2 of the Filipino respondents have taken natural supplements more often after the COVID outbreak. The current health expenditure in the Philippines account to 47.9 percent 3 on household out-of-the-pocket cost. 

So, what does this tell you? 

Health is becoming a priority among Filipinos, and joining the health supplement bandwagon is a no-brainer. 

Start with research. Look into trending supplements in the local market and see what consumers are looking for. You can check Google Trends.

Start researching manufacturers and look for product lines that are predominantly purchased by your target market. And finally, you can talk about these through your social media and even set up an e-com platform where your clients can check out the products.

Retail Business Ideas

How many times have you been told to find your passion and make it profitable? This is where you can apply it.

There are a lot of people who want to play a certain sport but its equipment is not accessible. If you are knowledgeable about a certain niche sport, you can sell the equipment yourself.

This can be true for more popular sports equipment such as golf clubs, baseball bats and balls, basketball rackets, surfboards, or stand up paddle boards. 

You can also focus on sports that don’t cater to the mainstream crowd, some of them you may not have even heard of, such as:

• Slippery stairs
• Underwater hockey
• Chessboxing

Got an eye for fashion? You can source your inventory directly from clothes makers/printing shops or buy in bulk at Divisoria and set up a boutique to house your products.

If you and your family have a bulk of used-but-not-abused items you can run a garage sale and profit from your second hand stuff.

A core business strategy . Buying and selling stuff is an age-old business model that covers almost every possible item imaginable.

From gadgets, clothes, food, real estate, commercial space, and others—having the skill to buy low and sell for a profit is what most businesses are all about.

Similar to buying and selling but with one key difference—you’ll act as the agent for selling the goods by the owner.

A bakeshop, for example, can offer their goods for consignment at a lower price (usually with a minimum bulk amount). Consignees can then sell the baked goodies with a markup or earn from commission.

Even with the advent of online communication platforms, texting and calling is still an essential part of the Filipinos daily life. You can apply for a load retailing business and earn from a mark up from each transaction made.

You could also expand to selling various products such as RFID reloading (for EasyTrip and Autosweep).

Plants not only make spaces look good, they’re also doing a positive contribution to the air around us. If you are passionate about plants, you can grow your own or buy it low from cheaper sources then prop them on pretty vases and sell for a profit.

Earning while supporting your community at the same time is a noble act. For example, you can source freshly-ground kapeng barako from coffee bean farmers then re-pack and sell in the metro. It’s a win-win situation for both parties.

E-commerce sites like Shopify allows individuals to easily set up an online clothing store with minimal fuss.

The classic Filipino “convenience store” is still alive and kicking throughout the years. Unlike western countries, we tend to buy things per piece or retail due to economic reasons and ease-of-access.

Thrift shops or “Ukay-ukay” are popular because of the uber-cheap prices of its merchandise.

Baguio and Bambang, for example, are well-known hubs for thrift shops and resellers flock here for items to buy inventory to sell in the metro.

And according to iMoney PH – thrift shops’ daily profits range from P1,000 – P10,000 per day 4 (and can earn as much as P15,000/day during peak seasons, which is December and January).

There’s a robust demand from both small and large retailers looking for bulk purchases at lower prices, coupled with the country’s strategic location as a gateway for importing and distributing products across Southeast Asia.

This model benefits from high volume sales and the opportunity to serve a diverse range of markets, from local sari-sari stores to big supermarkets.

Collectibles trading depends on a community of like-minded individuals looking to swap, buy or sell various items ranging from action figures to trading cards.

If you’re a collector, you can use your extensive knowledge of your item and look for deals that you can profit from.

Candle products have found a niche market in the form of spas and other relaxation spaces. It’s especially strong during Halloween/All Saints period. You can start learning how to make them yourself or get merchandise in bulk for reselling.

Selling pre-loved books is a nice way of earning money on the side. You can do a one-time “garage sale” of your personal collection or become an actual trader or buyer of used books for reselling.

Does your Embotido always get the thumbs up from relatives during reunions? Why not share the gift of your delicious creation by selling it?

Start small by selling them to your neighbors and office mates. To expand your reach, you can join trade shows or food bazaars. Note that this applies to all homemade products and not strictly always about food.

Ever seen those T-shirts with the wearer’s actual name or face in front? Or those laptops and gadgets covered in bright skins and glitters? If you love DIY or have the knack at adding a personal touch to a product, you just might have a potential business at hand.

Some customize cars, adding parts or making it look like a completely different beast via car wrap.

Yup, Vape is alive and kicking. If you are a Vape owner yourself, you probably know which products are good and which ones suck. Why not put this experience and knowledge to good use?

You can probably start low-key by in-person deals or sell online and send products via shipping.

If you have a good eye for design and you are good with your hands, you might want to try starting your own fashion accessories business.

You can start small and make the accessories you sell yourself, or you can source the products online and resell them.

There are several fashion accessories companies in the Philippines that export their products to other countries. This means that there is potential for this kind of business to grow. 

A wet market stall is a traditional business that sells meat, fish, and produce. Despite the small capital needed, this business has the potential to earn P2,000 to P18,000 per day depending on your location and the items you are selling.

A wet market stall requires early and long hours of work so if you’re not willing to man the stall yourself, you can simply hire someone to do the work for you.

The trick to making this business idea work is to find the right suppliers where you can get meat and produce at a discounted rate. 

Aside from that, you must also prove to customers that you practice cleanliness in your stall. This will encourage them to buy from you because they are sure that everything you are selling is clean and safe for consumption.  

This type of business is a common business in the country. It is usually found in night markets, near palengkes , and areas that have huge foot traffic.

To start this type of business, you first need to create a list of the items you want to sell. This can include secondhand furniture, books, old clothes, kitchenware, and many more. 

If you want to take the extra mile, you can also branch out to live selling on social media. All the stuff that was not bought from your physical store can be offered online at a more affordable rate. This will also do wonders to spread the word about your business. 

Consulting Business Ideas

As more Filipinos get financially smart and realize the importance of preparing for the future, the higher the demand for financial advisors who can explain and match them with a plan that best suit their needs.  

For a business to thrive and get a wider customer base, it needs to tap on the power of the internet and social media.

Digital marketers and social media consultants prepare and manage marketing campaigns for businesses so they can reach the right audience and build brand authority through online presence.

Just look at the number of participants at a running event and you’ll have an idea how many Filipinos are into health and fitness. Gyms have steadily risen in popularity in the last few years.

Crossfit trainers don’t even need a dedicated space: they can operate in public places without any equipment.  

In line with the rising interest in personal health, a lot of folks seek professional nutritional advice to be on the right track. Nutritionists asses their patients health and lifestyle and come up with a plan to achieve the results they want.

If you’re an expert on something, you can help others and earn at the same time.

Coaching services cover a wide range of interest, from golf newbies to professionals seeking career advice , budding entrepreneurs needing business advice to shy individuals who want to master public speaking.

Most of us can use some guidance and shared experience to better our current circumstances and this is where coaching services come in.

Building and maintaining a reputable name and brand is crucial in today’s connected world. Image and Advertising consultants take care of the grunt work required to keep a person or a business’ image untarnished.

The practice typically involves public relations, marketing and reputation management. They also spearhead all initiatives and projects to build a following and a loyal fan base.

Personal Services

You can find bill payment facilities at malls, convenience stores, and commercial buildings, among others. Bills payment centers like Western Union & Bayad Center also offer other services like money remittance, e-loading, money exchange, and airline ticketing.

Perhaps you have seen long queues at different payment centers before and thought it was a good business to invest in. The estimated total franchise investment for one of the more popular payment centers in the country is Php 475,000.

This amount doesn’t include the costs for equipment and site renovation, though. A return of investment is guaranteed within 2 years.

Do you love cleaning and organizing your home? Then why not turn this into a business? Just like Marie Kondo, you can make a fortune out of this skill. 

It’s important for people to be in a place where everything is organized. This is especially true for offices, kitchen spaces, and bedrooms.

Professional organizing is a personal service that includes cleaning and decluttering. It can be a huge help to companies and individuals who don’t have the time to organize their space.

If you know your way around computers and geek out on building them, you probably have a good amount of knowledge and experience in fixing them as well. A computer crash or malfunction is inevitable, and people will be willing to pay you to get their beloved workhorses up and running again.

In 2017, I realized there were a total of 5 coin laundry shops around our area. Why are they popular?

The answer— convenience. I personally find it indispensable as it saves on time (as you can get your laundry done the same day) and effort versus doing the laundry at home via washing machine or leaving it for a couple of days on other laundry service shops.

And if you live in a condo or small space (read: nowhere to hang your wet clothes), this makes it a no-brainer.

The long customer queue on the shop I visit every weekend is proof of strong demand for this type of service.

This is another way of earning from a skill you already have. And with summer upon us, expect a surge in demand as people flock the pools and beaches.

The benefits of Yoga to one’s health are undeniable. And with today’s hyper-busy workforce, more people are seeking the calming effect of Yoga to their frayed nerves and tired body.

Nothing beats a relaxing massage after battling a week of overtime and deadlines. But what could make it even more better? Simple: Just pull out your phone and book a home massage session.

No need to prep yourself and brave the traffic, save on time and energy. These are the main draw of home massage services, and thanks to these you’ll never run out of potential clients.

I’ve seen some online services that do specific tasks like sending someone to buy your groceries. Similar to that, getting paid to shop and buy stuff can be an interesting and fun experience.

As a personal shopper, you’ll get asked to look for and buy specific things, so it helps if you already know your way around malls and where to buy stuff.

Dancing knows no limits when it comes to age. I’ve seen kids as young as 5 years old shake it and grind it in dance studios to prep for contests and events.

Teens and young adults flock these studios to learn the techniques and improve their craft. Heck, even our Titas and Lolas make the occasional visit to a “D.I” for some serious old-school dance session.

As a father of a 3-yr old, having a safe space for him to learn and interact with other kids is essential.

Young parents of today are both working full time to keep up with the demands of an ever-increasing cost of living , and having trained-professionals to look over their kids is of great help to ensure they’re on the right track.

Offering to be someone’s go-to person for personal tasks and errands is another way of earning extra bucks. You have to be clear and offer guidelines on the nature of the tasks that can be performed to make sure you and your client are on the same page.

Need to leave your place for an important business meeting? Don’t have someone to look over your pet while you’re away? By offering house and pet sitting services, you get to help your clients remove these worries away and get paid at the same time.

With the rise of car owner numbers in the past few years, more and more Filipinos avail of car wash services. And you don’t even need to set up shop if you’re starting from scratch with zero capital.

Here’s a thought: Be unique (and resourceful)—offer to visit their homes instead to do the cleaning—ala home service.

In lieu of car wash services, you can set up an auto repair shop. Filipinos are known for finding the best bang for their money, and sometimes car owners find regular maintenance through “Casas” (official car shops) just too expensive.

Auto repair and maintenance shops typically offer the same services at a lower price that’s why places like Banawe St in QC are popular to car owners and enthusiasts.

Find auto-repair shop capital a bit too much for your wallet? Why not try setting up a vulcanizing shop instead? As long as there are cars on the street, the occasional flat tire is inevitable. Most drivers also drop by to pump some air in their tires and pays a small fee for it.

Whether it’s every few weeks, monthly, or just every once in a while, men need to get their hair cut short. Barber Shops tend to develop a loyal customer base if services are good. Tips are expected almost always for your barbers as well.

Have a tux that needs cleaning? Evening gown to look fresh for the party tomorrow? Regular washing methods just won’t work with delicate clothing—and this is where dry cleaning services come in.

Whether you’ll drive it yourself or have someone do it for you, Grab services (GrabCar, GrabFood & GrabExpress) is still a popular way of earning money on the side.

Plus there are several other platforms that you can also utilize to provide these services, such as FoodPanda, Lalamove, and Angkas.

If you have a passion for history and teaching but not within the confines of the classroom, take it outside and be a tour guide. Get paid for showing unique and historical places to others and sharing the stories behind the place.

Depending on the delivery vehicle, you can set this business up for almost any kind of item. Think of those old-school bike messenger services and you’ll have a basic framework how this business runs.

“Clothes maketh the man”. A tailor-fit suit trumps more expensive wardrobe that was bought off the shelf. Why? Because the custom fit is what makes it look perfect—no matter how simple it is.

More fashion-savvy customers know this and they will always look for these types of services for their needs.

When it comes to pets, here are a few ideas you can use.  

• Pet Shop & Pet Grooming services – For selling a wide variety of pets like dogs and cats, birds and fish. You can also offer grooming services for dogs and cats.
• Pet Sitting – If the owner needs to get away or be someplace where pets are not allowed, pet sitters can charge a fee to take care of the owner’s beloved animals.
• Pet hotel and Daycare – Same concept with Pet sitting but with an actual place where the animals can hang around. Clients are willing to pay a premium for making sure their cute little pets experience the best service while they are away.
• Selling Pet clothing and accessories online – You can source these or make them on your own. Put up a website or sell them via FB or other sites like Shopee.
• Dog obedience trainer – Requires genuine knowledge in training dogs. You’ll need to undergo the training program for this to get certified.
• Dog walking service – While the term “walking the dog” is probably more popular in Yoyo, its roots take from the literal meaning of the phrase. Walking your pet dog is both healthy for the owner and animal and people who don’t have the time to do this themselves can pay you to do it on their behalf.

Rental Services

The Filipinos’ love of the concept of “tingi” is what made the Pisonet popular when it first came out. It allowed customers (mostly students and teens) to connect to the internet for as low as 1 peso per minute.

I still see a couple of Pisonet shops around high foot traffic areas near schools and public places, proving there still a market for this type of rental business.

You can truly count on Filipinos to be resourceful, and Piso Wifi is a testament to that. Not everyone can afford to pay exorbitant fees for internet connection in their homes. This is why many prefer Piso Wifi.

Piso Wifi is a convenient vending machine that is connected to the internet, and it’s compatible with computers, tablets, phones, and other devices. Because there are no log-in requirements for users, it is hassle-free.

This vending machine allows people to access the internet by dropping coins in these increments:

• P1 = 5 minutes
• P5 =30 minutes
• P10 = 1 hour

However, you can also customize your rates. As a Piso Wifi owner, you also have the freedom to filter content to ensure your clients won’t be able to access malicious websites.

The success of Piso Wifi is dependent on its location so make sure to place them in areas such as terminals, malls, local village puroks , and near sari-sari stores.

While not as plenty as they used to be, Internet Cafes are still around and can still be a profitable venture if yox   u do your due diligence.

I’ve always thought that it all boils down to the experience—when I was in college, we looked for shops which offered the best bang for our buck.

We prefer those which had a nice balance of computer graphics power, internet speed, peripherals (mouse, keyboard and chair), comfort and price.

The rise of freelancers, home-based workers, and “Digital Nomads” paved the idea for Co-working spaces .

What is it, exactly? It’s essentially a shared workspace that houses various freelancers and small businesses to serve as their “office” – and often, students use these spaces for studying as well.

If you have the space and amenities to run this type of business, it can be a self-sustaining venture. 

We’ve rented out a couple of vans in the last few years for trips to provinces or team buildings. Services like this can be a good way to put an otherwise underutilized family van to good use.

Back in high school and college, I joined some bands. Since we didn’t have our own gear, we practiced our stuff at music/band studios. You call in advance to reserve your slot and pay by the hour.

I noticed that back then, the owners were musicians themselves or former musicians. They probably felt that setting up a venue where bands and budding enthusiasts like me back then can practice was a great idea. And it was!

Ever seen those trucks with ads plastered around its whole body? Or the buses with huge ads roving around the metro with a picture of your favorite makeup brand?

Let me clear though, you don’t need to buy big-sized vehicles for this endeavor. I’ve seen plenty of private vehicles promote products and services via car wrap. Ask around, you might just get a decent pay for doing mobile ad service.

Filipinos love hosting and attending formal events. I should know, I probably rented more than a dozen “coat and tie” during my younger days. It’s not unusual for a kid to not own a decent pair of Tux or suit, at least in my day.

I argued that I don’t really need to buy one if I’ll only be using it once or twice a year. While this thinking might be flawed, the existing Formal wear rental shops serves proof that there are some out there who had the same reasoning.

Moving from one place to another is best done with a lipat-bahay service. I personally recommend it against hauling stuff yourself as it will save you countless trips and prevent potential damage to your properties.

And with younger families constantly moving to be near their work, there will always be potential clients in this type of business. Starting one has also been made easier with apps/marketplaces like  LalaMove and  Transportify .

There will always be a demand for these types of services. Simply because not all Filipinos have cars to do it themselves or the stuff that needs to be hauled is just too large.

Try fitting a fridge in a sedan and you’ll see what I mean. If you have the capital, you can buy a truck brand new or second hand. Make sure to do your due diligence first though and test the viability first before purchasing equipment.

Parks are a great example. If you live near one or know of a place where you can set up shop, renting out bikes can be a good way to earn a buck.

Photo and video equipment rentals can also be a good source of income because there are people who although skilled in this field, there are those who opt not to buy or can’t afford to buy certain gear.

The initial investment for this type of business can be pretty steep, but the return on investment is worth it.

When renting out your equipment just make sure you have a contract with your client that will detail your responsibilities in handling the equipment as well as what will happen in case of damage or loss.

This will help you cover the costs of any possible loss and protect you and your customer.

Although seasonal, costume rentals can be a good source of income as well. If you have sewing skills, you can create the costumes you’ll rent out on your own.

You only have to be resourceful in finding the right materials to make your costume close to the original. The initial capital will vary depending on the quality of materials you’ll buy and your target market.

No need to worry as you can increase or lower the price your costumes for rent according to those criteria as well. If you are going to buy the costumes you’ll rent out, it will usually take five to six rentals before you earn back your initial investment. After which, you’ll be able to continuously make profit out of them.

As tourism starts again, people are becoming more comfortable to travel. You can leverage this by putting up a campground business, which refers to your own campsite where tourists can stay.

You can put up tents and other necessary amenities that will be useful for your clients.

There are many types of campgrounds that cater to various markets. For example, you can put up car camping sites for those who want to drive to a camping location. You can also put up tent sites for backpackers who prefer lightweight tenting.

If you want to offer a more upscale experience, glamping is the way to go. This refers to glamorous camping, where you can have amenities such as hot showers, air conditioner, and electricity.

Depending on your location, you can also offer activities that are associated with camping such as farm camping or beach camping.

Printing Services

Are you an artist who’s got a flair for designing shirts, sweatshirts, coffee mugs, pillows, and more? You can try setting up your own print-on-demand business. With this business model , your products will be sold online through a platform, where customers can place orders for them.

The POD platform is the one responsible for printing, packaging, and shipping your products. The demand for your product will determine the revenue, so no demand means no production.

Also, someone else will process your product, so you don’t have to worry about having a physical inventory. If you are not good at designing shirts, you can still start your own POD business. Just hire someone to do the designing of your products.

From witty one liners to over the top graphics, there’s always a design for everyone. You can go the traditional silk screen route or the more modern heat press operation.

I’ve seen heat press machines online being sold for as low as Php10K to as high as Php100K. From T-shirt you can also expand to printing mugs, caps and even ID laces.

Tarp printing machines command higher prices compared to heat transfer printers. But if you’re interested and have the capital, there’s still a steady demand for large-format prints.

Both personal and corporate events avail of this type of service, not to mention potential tie-ups with advertisers for your clientele.

Photocopiers are a staple around schools and public places. A quick search online revealed prices hovered around the Php30K to Php50K mark. If your place is near a school or within commercial areas, this is one potential business venture.

Note: You can also upsell other relevant services, like taking and printing Photo IDs, to maximize the business’ potential profits.

More niche than photocopying in terms of customers but still a promising business idea. Also, most mid to high range inkjet printers allow you to do this so if you already have one, you can easily set up shop without shelling out significant capital.

Home Repair & Improvement Services

Several players in the solar panel industry have popped up in the last few years. If you’re keen in getting in on the action, you must get certified first as a professional installer.

The uptick in sales of condominium units proves that the trend in living in smaller but more convenient/prime locations is going strong. And what do homeowners do to spruce up their small space?

Hire an interior designer! A pro interior designer’s mission is to bring their client’s vision into fruition, transforming an otherwise drab space into a cozy, dream home.

Modern families with dual-working parents are typically pressed for time to do some serious home cleaning. They would rather spend their precious weekends hanging out or going out for some quality time.

To make sure their space is well kept, they hire professional cleaners to save on precious time and energy.

You see them everywhere. Propping up make shift stands to hawk their products, these contractors earn a commission for each successful service installation.

If you have the gift of gab and know how to promote yourself and your product’s benefits, this can be a profitable income source.

I’m a full grown adult male but I’m not embarrassed (well, maybe a bit) to admit that I’m no handyman. My wife can’t depend on me if there are problems with our home’s plumbing or electrical system.

I always say, better leave it to the pros than mess it up even further. And trust me, there are a lot of folks out there who have the same dilemma and are willing to pay for professional handyman help.

I once read in an article that our smartphones have become extensions of our bodies. And like injuries in our bodies, we rush to the nearest technician to get our precious smartphones fixed.

Same with other gadgets—in this entertainment-driven world fueled by short attention spans, customers always need to get their devices fixed ASAP.

If you’re like me, you never let go of a loyal pair of shoes that easy. And with each torn sole or trashed stitching, it’s an automatic trip to the shoe repair shop for me.

And you probably visited a locksmith once, if it’s anything related to padlocks and keys best to have these professionals do it.

This serious problem requires a serious solution from the pros. Exterminator services cater to home and commercial space owners who fell victim to pest damage.

Urban farming and gardening is the act of growing and producing plant-based food within the city or metro.

It lets people grow and develop their own plots of land for vegetable and fruit production. Some urban farms are built for both personal or commercial use, leveraging tiny to medium-sized plots of land.

A business that helps people set up, manage, and maintain an urban farm could be a viable business since novice urban farmers will likely need help with the whole process.  

As prices of CCTV systems went down and became viable outside of business and commercial use, more and more people are getting one for the security of their homes.

You can take advantage of this growing user base by getting trained as a certified installer and offering services to these folks. You can also upsell other relevant products such as car dashcams, and other home security systems.

Economy-proof Business Ideas

When entrepreneurs get asked, which came first, chicken or egg?

They will probably reply, “It doesn’t matter, I’ll just take them both”. If you have the space and capital, a poultry business can scale well and bring in some serious bucks.

As an undying relic of Pinoy commuting culture, Jeepneys stood the test of time thanks to its cheap rates and availability (and should soon become more of an interesting business venture when Jeepney modernization gets implemented).

The same can be said for tricycles, which were the Uber and Grab of our childhood when we need to go from one spot to another within the subdivision or barangay.

While they are no longer considered the king of the streets and highways, it can still be a profitable business provided you will be prepared to all the stuff and issues that go along with managing this type of franchise.

Related: 10 Best Low-Cost Franchise Business Opportunities in the Philippines

Whether it’s making custom sofas and furniture or restoring old and worn out cushions, Upholstery services can take care of it and more.

You can probably start with re-upholstery services to keep initial costs down then start making your own sofas and furniture sets once you have enough capital.

Open Facebook and it won’t take more than a minute to see a friend’s post of their vacation or trip somewhere. What does this mean? People nowadays treat travel like a part of their lifestyle.

And with this boom, you can capitalize and set up a small travel firm to cater to the growing demands of this market. Alternatively, I’ve seen “joiner” packages online where trips will be initiated by a group or a person and the joiners will pay a fee for the whole package. Similar to paying for a field trip.

Depending on the product, you can try going the import/export route. Both have selling as its core concept and revenue generator. It’s all about how smoothly you can set up and run the logistics.

Once you have that figured, it’s just a matter of finding buyers and a target market.

Agribusiness is one of the growing industries in the Philippines.

According to Dr.Glenn N. Baticados , director of Center for Technology Transfer and Entrepreneurship at UP Los Banos, the rise of the middle class along with the increase of population in urban areas that are making the demand for more nutritious and varied food higher.

And nothing is more nutritious than food that’s naturally cultivated and grown. Getting into agribusiness allows you to take advantage of this demand for profit.

Manpower for agribusiness is also easy to come by, especially in rural areas where people naturally possess farming and other agriculture-related skills.

There are various agribusiness areas that you can explore such as mangoes, rubber, coffee, bananas, palm oil, coconut, and cacao.

The fishing business spans a wide array of categories, but it mainly involves growing or catching fish for the purpose of selling them.

Depending on your location, you can either own a few boats and hire fisherfolk to find and catch fish.

The other route is to build fish ponds for the purpose of cultivating and growing a particular breed of fish (or maybe more).

This type of venture is of course more viable in places outside of the metro where there’s larger parcels of land to accommodate fish ponds. 

Metal is a resource that can be recycled without losing quality, and this presents a wonderful opportunity for you to make a business out of it.

But before you collect scrap metals, you first need to know the difference between non-ferrous and ferrous metals. Ferrous metals have iron which makes them stronger than non-ferrous ones. This includes refrigerators, stoves, freezers, car engines, and old machinery. 

On the other hand, non-ferrous metals are more pliable and resistant to corrosion. It includes aluminum slidings, chairs, copper wires, and old computers.

Once you know the difference between both types of metals, you can start building a connection with scrap yards in your area. Then, develop your collection route for regular pickup. This can include:

• Residential areas
• Plumbing businesses
• Small businesses
• Demolition sites
• Facebook marketplace
• Auto repair shops 

While you may not earn a huge amount of cash unless you’re dealing with huge volumes of metals, this type of business is still great, especially for those who want to help the environment since it keeps unused items from ending up in landfills. 

Have a soft spot for the environment? You can start a recycling business to earn more cash. 

However, starting this type of business isn’t as easy as collecting trash from people. It needs thorough planning. 

Before you can set up a recycling business, you first need to find a niche you’re interested in. This could be:

• Used building supplies
• Scrap metal
• Junk collection
• Used clothing

After this, you must analyze your competitors and make sure you offer something unique. This could be your price point or a one-of-a-kind service. 

Finally, you can set up a facility where people can drop off recyclables and get the equipment you need. 

Real Estate Business Ideas

According to Wikipedia, “It is the operation, control, and oversight of real estate as used in its most broad terms”. As a property manager, you’ll be the owner’s PoC for handling all related stuff to managing and maintaining their property.

You’ll act as the middleman if potential buyers (if an owner is selling) or lease offers come in to bid.

Nobody likes a shabby, tumbledown space. As a building maintenance provider, you’ll take care of keeping the building in tip-top shape.

Finding clients and landing a deal are your main responsibilities. Licensed real estate brokers earn a healthy commission for setting up deals between the buyer and seller.

All three have common goals—make land and spaces livable and looking good.

If you have a background on any of these three, you can start by marketing your services to small scale projects like homeowners looking to sell their house or folks who want to renovate their front and back yard spaces.

Whichever it may be, grab the opportunity. It will jumpstart your business until you gather enough skills, resources and capital to move to bigger projects.

Building safety is of utmost importance and is required to be met throughout the building’s lifetime. Starting this type of business will require accreditation and proper certification.

Once running, you can offer your services to both government units and private building owners needing regular building safety certification.

Nope, I’m not talking about waste treatment plants. You can probably start by developing a system for collecting and segregating waste from residential units.

Trust me, residents will be more than willing to have you collect their garbage and even pay for easy and convenient waste disposal. Once you’re done with the collection and segregation, you can sell to junk shops or perhaps straight to recycling agents.

Another interesting business idea. Heavy machinery and manpower will be your main start-up costs.

Same with above, initial capital will be allocated to machinery and manpower. You can start with small residential projects then move to commercial spaces once you build enough traction and capital.

Related: Top Construction Companies in the Philippines

Finding parking spaces in the city is a real pain in the neck. This is why you can provide services to people who need parking spaces by renting out your own. You can use space on your own property, or you can rent a spot.

To make it more convenient for your clients, you can build a parking garage.

You can also increase your profitability by offering parking solutions for special events, weddings, or those in a special area for VIPs. You can even provide valet parking services.

Business Services [B2B]

You can go the freelance route and start by offering your accounting and bookkeeping expertise as a side gig. Depending on your skill level and experience, you can target high-income individuals and small business owners.

You can begin hiring a contractor or two once as you get more clients and from there expand as an actual firm.

If you have friends who have Corporate, Labor, Compensation & Benefits, headhunting and executive backgrounds, then perhaps a Human Resource firm is a viable business idea.

You will manage the company’s organizational structure, records management, payroll and benefits, and talent acquisition.

Modern businesses that rely on computer systems to operate need regular maintenance and management – which makes the business idea lucrative as most clients will pay on a retainer.

Offices run on a bunch of computers networked together (including servers), groceries have an always-on surveillance and PoS system, and your friendly neighborhood coffee shop needs its WiFi always running for its customers.

All these require IT and network expertise. For additional revenue, some even offer training services to companies, freelancers, and enthusiasts.

Security firms provide businesses with the necessary personnel for ensuring safety of their operations and assets. You’ll set up a firm which will act as an agency for hiring and assigning security personnel to clients.

If you have a gift of gab and have no qualms about constantly networking with people, then a sales business may be for you.

The great thing about a sales business (ie: life insurance and real estate ) is that if you have no employees, you get to keep all the income to yourself.

The downside is, you have to be disciplined and self-motivated during hard times when you encounter a problem in your sales business. Also, you only earn as much as you sell, so you need to work extra hard, maybe even during weekends and holidays to reach your desired income.

However, if these qualities come naturally to you then you’ll have no problem making profit and staying in this business.

If you have a legal background, you can build a small team of legal experts for preparing and processing legal and/or business-related documents for clients.

These could include drafting contracts, paperwork for setting up a business/corporation, notarization services, and other legal matters.

HVAC stands for Heating, ventilation, and air conditioning —- and the goal of HVAC services is to provide thermal comfort (either to cool or warm) and acceptable indoor air quality.

Most HVAC companies in the country specialize in the repair and management of airconditioning and refrigeration equipment. In the Philippines where the weather can be very hot and humid, airconditioning systems are important, so services that can maintain and fix these systems will be necessary.

Keeping our home and workplace clean (after the pandemic) has now been more important than ever. That’s why companies that provide professional cleaning and disinfection services are still in demand right now. They can ensure that places, equipment, and other items and locations that require continuous usage are adequately cleaned to prevent the spread of contagious diseases and viruses. 

Before you throw this idea out the window for being too ludicrous, did you know that the minimum capital to start a rural bank in 5th or 6th class municipalities in the Philippines is just 5 million pesos? 5

That’s right. However, there’s a catch. The process of establishing a bank in the country is tedious 6 . Aside from the massive amount of paperwork that needs to be accomplished, you will have to comply with many requirements.

What’s more, a rural bank has to be opened for business within 8 months of the receipt   of the notice of approval from the Monetary Board/Governor. Otherwise, the authority to start a bank will be revoked automatically.

Well, somebody has to do it—no matter how stressful this business sounds like, it’s really all about asking someone to pay their dues. It’s that simple. So get over your worries and start being open to the potential income this business will generate.

Basically, a broker solves their client’s problems for a fee. They also lend clients money for margin transactions and provide support by giving information about what’s happening on trading platforms. There are different types of brokers.

Different types of brokerage firms: 

Online brokers

This form of digital investment interacts with the client online. The main advantages of this type of brokerage are availability, speed, and low commissions.

Discount brokers

A stockbroker, they buy and sell orders but they charge a reduced commission rate.

Full-service brokers

This type of brokerage offers different professional services to clients, including tax tips , equity researching, investment advisory, etc.

Customs Broker

A customs brokerage firm is well-versed in international and local tariff laws, trade laws, and regulations for clearance of exported and imported goods. A customs clearance broker can provide assistance in filling out forms as well as gathering the necessary documents for clearance.

They can also help with computing taxes and other fees. A customs clearance broker coordinates with government offices and agencies on their client’s behalf, and complies with regulations to facilitate a fast and smooth customs clearance process. They help ensure clients can receive their cargo or have it shipped on time.

Related: Top Business Services in the Philippines

Event Planning Services

A wedding planner/coordinator is crucial to the success of a wedding. Logistics, guests, wardrobe, accessories, church visits, invites, and everything else— a great coordinator will keep things running smoothly before, during, and after the wedding.

Though peak sales are seasonal, there’s a constant demand for flowers. If you have the eye and know-how for good presentation, you can provide arrangement services.

Or you can go the supplier route instead and get product from sources and resell them to shops and customers.

If you love throwing parties, why not earn from it? Like a wedding coordinator, a party planner will manage all tasks and details necessary to throw a kick-ass and unforgettable day of fun.

A great party requires the right stuff—balloons, tables, chairs, decor, etc. And with Filipinos being fond of throwing celebrations left and right, you’ll always have clients willing to pay to give their events the full party treatment.

Concerts, parties, corporate and private events and more. Lights and sounds are what elevates events to a whole new level and gives it a more classy vibe.

With the right equipment, you can set up a lights and sounds rental business for clients looking to spruce up their happenings.

If you have the passion for running, you probably attended your fair share of marathons. Ever thought about setting up one yourself?

It may sound hard at first but with enough research and due diligence you can organize a fun run and earn a profit from it. You’ll help your clients in setting up the location, dealing with sponsors (if they have it), security, race details, promotion of the event, budget allocation and more.

I’ve attended a lot of events featuring a mobile bar and I admit, it added a touch of class not to mention the (much needed) booze. Your initial capital will cover the vehicle and initial inventory of drinks as well as bartender services.

A staple in almost all events. The long lines never cease to amaze and wear me down at the same time. Filipinos just love having their pictures taken, ‘nuff said. And you can capitalize on this by setting up your own photobooth.

I’ve seen basic setups (DSLR, Laptop, printer) to more high-end ones complete with complicated lighting setups, backgrounds and accessories.

Online & Home-based Business Opportunities

Being an online reseller can mean two things:

(1) You have actual inventory and you use the internet to promote and sell,

(2) You serve as a middleman (dropship) who sets up a virtual shop online where your customers can place and process orders and payment. Once the order is confirmed, you will then have your product source deliver it directly to the buyer.

It’s like a consignment business but here you mainly handle marketing and promotion of the products and running the website.

Learn More:

• How to build an online store (in 15 minutes)
• 100+ Best Products to Sell Online in the Philippines
• How to Start an Ecommerce Business in the Philippines

There’s a ton of ways you can profit from a website. You can earn from Ads, affiliate marketing , and selling your products and services. Whatever your strategy is, the goal is to get a good number of people visit your website.

Also Read: How to start a blog in 20 minutes and make money

You have a lot of options here. You can provide website creation and development services, teach English online, do data entry work, Ghostwriting, Virtual assistance, App development, graphics and animation work, voice talent, and so much more.

Highly Recommended:  7-Figure Online Business Ideas: 6 Ways to Make Money Online

Vlogging used to be purely recreational. Now, you can use vlogging to make money online . Just set up your account either on YouTube, Facebook, and Instagram, decide on your gear setup, shoot, and upload.

Of course, for you to grow your followers, you have to keep them engaged so spend time coming up with your content calendar as well. There are tons of ways you can earn from vlogging.

In YouTube for instance, your income in commensurate with the number of advertisers that place ads on your videos. If you reach influencer status, you can start charging companies who want you to post something about their products or go to their events as well.

Hobbies, Crafts, & Other Weekend Business Ideas

Love hanging out on Food Expos and sampling the products? So do I! On a serious note, if you have a great food product, expos are a fun way of showcasing them and attracting potential re-sellers and buyers.

Not to mention, it can provide you with the first-hand feedback from customers to help you adjust and improve your product.

You see them almost everywhere, especially around Christmas season. Why? Because bazaars are chock-full of interesting stuff that you don’t easily find in malls. And it’s usually cheaper!

Bottom line is, Bazaars are pretty popular. If you have stuff you want to dispose of or simply interested in some weekend buy and sell, simply register and set up shop. Or you can organize it yourself!

I’ve seen local entrepreneur shows feature regular Pinoys who built a business empire from selling a product or service that was born out of a hobby.

If they can do it, so can you! Soap and lotion making, scents and perfume, require only a small capital to begin with. If you don’t have the expertise yet but interested in knowing more, you can attend trainings and workshops to develop your skills.

If you’re the type of person who finds joy in planning and running events, perhaps organizing seminars or webinars can be your thing. You’ll manage everything: From inviting speakers, discussing fees, marketing, location and logistics, equipment, attendees, and more. Basically everything from start to finish.

I can’t remember the number of times I watched the “Panlasang Pinoy” channel in YouTube. It’s a lifesaver for those rare moments when my wife asks me to cook at home.

Mind you, I’m a complete noob. But if you’re someone who actually knows their way around the kitchen, why not share your skills and teach clueless novices like me how to do it, Gordon Ramsay-style? Ok, maybe not Gordon Ramsay—but you get my point. There will always be people like me who want to learn how to cook and are willing to pay for it.

I may not know which is “kangkong” and which is “talbos ng kamote” at the supermarket but I know how to play a guitar. If you have music, crafting, drawing, or any other artistic skills, you can offer tutorial services.

This is especially popular during summer, where kids have a lot of free time. Teaching others while earning at the same time is a great way of sharing your talent.

How to Validate your Business Idea

“The most important thing is a hungry market. Not a brilliant burger.” –  Gary Halbert

Legendary direct mail response copywriter Gary Halbert points out that the most important thing that determines the success of a campaign (he sold products via mail) is not the brilliance of the product itself, but rather, if you’re able identify a hungry market who is already looking for the type of product you’re selling.

Think about it.

We might think we can create a better burger than McDonalds (I know most of us seriously can). Does this mean we will be as successful?

Probably not.

And here’s why: McDonald’s’ success was not the result of the taste of their burgers.

Rather, they were successful because they found a huge demand for cheap food that can be served very quickly.

That was their market. People looking to buy cheap, fast food.

Figuring out and identifying your target market is perhaps the most important step in validating a business idea.

Why the need to validate a business idea in the first place, you ask?

Well, without it, you’re basically throwing a hail mary pass—launching a product or opening a business simply because you can—without necessarily knowing if people will be there to buy it.

Here’s a personal example. There’s a small spot along road 3 in Project 6 that I noticed seem to change stores/businesses every few months.

The first time I saw it I think it was a computer shop.

A few months back, it was a barbeque store. Now they changed businesses again and are selling cupcakes.

I won’t be surprised if it folds up too and gets replaced by a laundry shop next week.

The moral of the story? Doing certain steps to test the viability of a business is crucial to its success.

Related: How to conduct a feasibility study in the Philippines

What are these steps, exactly? Here are the top 3 ones to help you out.

A lot of successful businesses were born out of a passion for something. Michael Dell was into computers.

He loved building them from scratch.

Back then, most desktop computers were sold pre-built (IBM, HP, Compaq) and were pricey.

Word of mouth through his college brought him plenty of customers, students looking for a cheap, custom built desktop. So Dell continued building PCs which eventually turned into the global brand that it is today.

A perfect example proving that merging passion and identifying a willing market to buy it is crucial to success.

Read Next:  Top 12 Industries to Invest in the Philippines

Once you’ve zeroed in on a niche and identified your target market, it’s time to do some old-school survey and research.

And by survey I don’t mean have random people answering 10 questions about your product.

No. Rather, ask potential customers what service or product they are currently using and what do they wish it did more/better?

What would they like to see more of?

Are they price-sensitive?

Ask them if they will be willing to pay for a product like you’re planning to sell.

The more information you can have, the better you’re idea will be of what customers truly want and willing to buy.

Where can you find potential customers for feedback? When building a physical store, perhaps you can ask the people who frequent the area.

Observe how they conduct business with surrounding or nearby stores. Does the place get plenty of foot traffic?

Or you can visit and join Facebook groups or communities that seem to be a perfect fit for your product.

Say you’re planning on creating an advanced digital course on Adobe Photoshop. You can frequent online groups made for digital graphics artist and the like.

Your task will be to spot pain points and problems and see if your product can address them.

You can even ask them directly if what you are planning to build is something they will be willing to purchase.

Once you are certain that there’s a demand and confirmed your potential audience’s pain points and needs, it’s time to do a “trial run”.

You can create a rough version of the product or service with all the key elements built in based on your market research. Distribute samples to potential customers, then wait and ask for feedback.

Some forms of businesses might not be able to perform this step and that’s understandable.

The main takeaway behind this concept is to get actual feedback based on a prototype of a product without burning through capital and going all in right away.

In the tech startup world, this first prototype is referred to as “Minimum Viable Product” or MVP.

Let’s take smartphone apps, for example. Let’s say Instagram’s first iteration (MVP) was an app with a strong focus on photo sharing and a few filters.

After the beta release, it was found out through feedback that people loved filters and wanted more types of it to be incorporated.

Taking this into consideration, they added more, better filters which served as its main advantage over Facebook.

After polishing the MVP using feedback from users, the creators were able to launch a near-perfect product that is far better than what they could have made if they didn’t have the insights from the initial feedback.

While this is not accurate and merely an example, this proves the importance of launching an MVP before going all-out to creating the actual product.

It allows you to quickly (and cheaply) build a prototype customers can use and provide crucial feedback on.

It’s no different to someone who got praised for his barbeque but was advised to adjust the spiciness a bit to suit the preferences of a larger audience.

After heeding their suggestions and feedback, more people liked his barbeque which lead him into thinking, “Ibenta ko kaya to? Parang madaming may gusto”.

A thousand barbecues later, Andoks was born. Just kidding, but I know you get my point.

For a more comprehensive guide on validating your business idea, also check Foundr’s  step-by-step guide to find your startup idea .

Tips on Starting a Small Business in the Philippines

Regardless of size, starting a business entails a lot of hard work and determination. Here are some tips on starting a small business in the Philippines to guide your way:

Make sure your business is registered with the DTI (if it’s a sole proprietorship) or the SEC (if it’s a corporation or partnership ).

Also, see to it to register with BIR and secure your mayor’s permit from the city you’ll be operating your business from , as well as from local government units (LGUs) for business permits and clearances. Ensure compliance with the Philippine labor laws and regulations if you’re hiring employees.

If you’ll be hiring employees, complete your employer’s registration at PhilHealth , SSS , and Pag-Ibig as well. If you have 10 or more employees, you must register your business with DOLE too.

If your business needs any other relevant form of registration in relation to the product or service you are offering, make sure you get that covered too.

Don’t haphazardly jump into a business without first studying all its pros and cons. Make sure to have a business and marketing plan ready along with a SWOT analysis to ensure you get all bases covered.

Understand your target market’s needs, preferences, and spending behaviors. Research your competition to identify gaps in the market that your business can fill. This information will guide your business model, product or service offerings, and marketing strategies.

It pays to know the industry you are venturing into. Attend seminars/trainings, read books, and do everything you can to immerse yourself in the market before taking the plunge.

Managing the cash flow of a business is no easy feat. While you can enlist the help of an accountant, it’s also wise that you learn how to handle your personal and business’ finances first.

In small businesses, you only got yourself to rely on at the start. So make sure you know how to sustain your cash flow and manage your books as well.

Related: Best Business Bank Accounts in the Philippines

Make sure to understand your taxes and be aware of the times wherein you’ll have to pay them. This will prevent you from falling out with the BIR, and ultimately the Philippine law.

If you find the computation and payment of taxes overwhelming, consult with an accountant or an expert when it comes to tax.

Recommended:  An Entrepreneur’s Guide to Filing & Paying Taxes Online in the Philippines

Consult someone regarding how you can best utilize digital marketing channels like websites, social media accounts, and the like to promote your brand. If you have no time, you can hire an expert to manage your accounts for you.

Digital marketing will increase other people’s awareness about your brand and allow you to reach a wider yet more targeted audience which in turn can increase your sales.

Networking can significantly impact your business success. Join local business groups, chambers of commerce, and industry associations to connect with other entrepreneurs, potential clients, and suppliers.

Your employees are your most valuable asset. Invest in training and development to enhance their skills. Create a positive work culture to motivate and retain your staff.

The Entrepreneur’s Checklist

If you’re reading this, you’re probably keen on building your own business now or in the near future. But aside from having the courage and discipline to kick start a business, what are the other traits most commonly found in the most successful entrepreneurs? 

What are the usual challenges and factors to consider before taking on the entrepreneur’s path?

To help you answer these questions, here’s an Entrepreneur’s Checklist to give you a better idea of what it takes to get a better shot at success in running your business .

Some of the most successful businesses were conceived from a simple idea. But as simple as they may have been, it served as the catalyst for some of the biggest brands in the world today. 

However, ideas are but mere thoughts unless acted upon. What’s more important is the driving force to push that idea into fruition, so it can ultimately reach its best form and become a real business that has a very strong chance of succeeding. 

That driving force is passion. Some of the richest men in the world right now owe their wealth to a simple idea, but it was their passion that set forth a series of actions that actualized that vision into an actual product or business. 

Jeff Bezos saw the internet as the future for selling books. He devoted time, money, and even turned down lavish job offers to passionately pursue his idea which eventually developed into one of the biggest businesses in history. 

You’ll see similar paths taken by other world-renowned businessmen:  Elon Musk, Bill Gates, Steve Jobs, to name a few. Your confidence and passion in your idea will go a long way and carry you, especially through difficult times. 

Before creating PayPal, its founders were in the business of developing security software for handheld devices but did not find success. They switched gears and decided to focus on creating a digital wallet, and PayPal was born. 

As it was gaining traction, the company decided to terminate its other online banking operations and focus on PayPal. In two years, the company went public and sold over $61 million worth of shares. eBay eventually acquired the company a few months after its IPO , buying it from the founders for $1.5 billion. 

The lesson of the story? Don’t be afraid to adjust your game plan and always be on the lookout for potential opportunities that may offer better leverage. PayPal founders realized it was failing in the security software industry, so they looked for other viable concepts which led them to online banking and eventually to the creation of PayPal. 

And after realizing that PayPal was their main moneymaker, they adapted yet again and dropped its other businesses to focus on PayPal. In another example, Apple was mainly in the business of creating and selling Macintosh computers and iPods. But seeing opportunity in the mobile market, they adapted to the trends and found atmospheric and financial success with the iPhone.

Successful entrepreneurs know how to identify opportunities and use their adaptive nature to leverage their potential.

One underrated trait that most successful entrepreneurs have in common is their “financial savviness”. Knowledge and understanding of how money flows (expenses, revenue, and anything else in between) throughout the entire endeavor is a critical part of running a business.

Contrary to what some people might think, business owners themselves don’t take it easy when it comes to running their business. In fact, it’s usually the other way around, because they understand that true and continuous success can only come if they treat each aspect of their business with a certain degree of professionalism and care.

Making the most out of what they have and leveraging creative ways to solve problems is another common trait among entrepreneurs.

In running a business, you’ll encounter all sorts of bumps and issues, and you won’t always have the best means to get around them. In these situations, being resourceful is especially helpful, and that’s why it’s an important skill to develop.

Running a business isn’t easy, because if it was, everybody would be doing it. And those who are successful at it are people who can leverage the most value out of their time.

With everything that needs to be done (especially when you’re just starting out), time management will be crucial. Effective and efficient use of each minute can spell the difference between a business running like a well-oiled machine versus one that runs on squeaky wheels.

Leaders understand that the success of the company will depend on the people running it, which is why having the right people skills is essential.  

If you’ll read the biographies of some of the world’s greatest entrepreneurs, you’ll see a common pattern: they are laser-focused on their goals and endure hardship with indefatigable perseverance.

It doesn’t mean that they are doggedly stubborn though, it just means that they understand that success requires an immense amount of effort to achieve.

Risks are an inevitable occurrence in running a business. As an entrepreneur, it is your job to develop critical thinking skills and be proficient in taking calculated risks. 

People with a strong internal locus of control tend to be more successful than those who don’t. They firmly believe that results are dictated by their thoughts and actions, and rarely use external factors as scapegoats for failure.

Business Ideas FAQs

Still got questions about business ideas? We’ll answer them below.

1. Service Business

A business whose output/product is not an actual physical or tangible product is engaged in the service business.

Banks,  accounting firms ,  law firms  (and other types of consulting firms), review centers, training facilities, gyms, barber shops, salons, kids play centers, arcades, are some examples since their “product” takes the form of some kind of service/action.

2. Merchandising Business

It’s a business that operates under the “Buy and Sell” concept.

Typically, they will buy their merchandise or product at lower prices from wholesalers then sells it at a markup, for profit.

A merchandising business does not make any changes to its supplies or products. They simply act as a gateway for people looking to purchase products.

Examples are groceries and malls, resellers and suking tindahans.

3. Manufacturing Business

An enterprise or company that is involved with the creation of a product is engaged in the manufacturing business.

They buy raw materials in order to come up with a product they can sell.

For example, an ice cream business needs raw materials like milk and sugar in order to product their ice cream.

The same can be said for companies producing processed foods or a furniture business who needs raw timber to create beds and chairs.

You can also check out the other popular types of businesses in the Philippines in this guide: Top Business Sectors in the Philippines [According to Data]

If Service, Merchandising, and Manufacturing refer to how an organization or company conducts business, the following refer to how a business is formed or managed.

1. Sole Proprietorship

A business owned exclusively by a single person is called Sole Proprietorship.

While this is the easiest type of business to set up, it also presents the most risk since the owner is open to unlimited liability.

The owner will need to surrender  personal assets  to creditors if he goes into debt and can’t pay.

2. Partnership

Exactly what you think it is. But not strictly tied to just two owners only.

A partnership can be composed of two or more parties who combines resources into setting up and running the business.

A partnership can have unlimited liability (like sole proprietorship) unless the owners specifically set up a limited-partnership (LP) type of business.

3. Corporation

If you think that a  corporation  is a big company/organization/factory which produces goods or services, think again.

What many people realize is that a corporation simply refers to a business that is ran by a separate legal entity (can be in the form of shareholders) that is distinct from its owners.

It enjoys most of the perks and responsibilities like a normal individual has, like  loan and borrow funds , sign contracts, and even sue (or get sued).

4. Limited Liability Company

A Limited Liability Company, or LLC, are considered a form of hybrid type of business that merges traits of a sole proprietorship and a corporation.

It is not, however, considered a corporation since LLCs cannot be incorporated. In general, LLCS are easier to form versus corporations since it allows small groups of people to easily build a company.

An LLC enjoys the limited liability feature of a corporation and can elect to be taxed as a sole proprietorship, partnership, or corporation as the owners/members see fit.

5. Cooperative

If you’ve been to the province, you probably noticed that their water and electricity is provided by some sort of electric or water cooperative. These are perfect examples of this type of business.

In a nutshell, a  cooperative  is a business wherein members and owners benefit from the process of running the business.

If a corporation offers stocks to shareholders, a cooperative sells its shares to members.

These members have the some form of leverage in terms of their opinion in affecting the course of running the business.

6. Non-profit Organization

A business that is made with the intention of promoting a specific goal or purpose. For example,  charitable institutions .

Any revenue earned by a non-profit goes to paying the operational costs of running the company.

This means that there are no shareholders earning income from the company itself.

All the money earned goes back into funding operation and pursuit of the company’s mission and vision.

Not at all. Although some businesses do need a lot of money, there are business ideas that you can start with minimal capital. You just have to be creative and resourceful in finding ways to start your business without spending too much.

There are a few key factors to consider when determining if your business idea is viable. First, you need to assess the market demand for your product or service. Is there a need for what you are offering?

Second, you need to evaluate the competition. How saturated is the market? Can you differentiate yourself enough to stand out?

Third, you need to consider the financial feasibility. Do you have enough resources to start and sustain the business?

Finally, you need to evaluate your own skills and experience. Are you equipped to run a successful business in this industry?

If you can answer these questions positively, then your business idea may be viable.

Starting a new business entails a lot of risks. One risk is financial. There’s no guarantee that your business will be profitable, and you may need to invest a lot of money before you start seeing returns.

Another risk is market acceptance. Your product or service may not be well-received by your target market, which could lead to low sales and ultimately, failure.

There’s also the risk of competition. Even if your product or service is unique, there’s always a chance that someone else will come up with something similar, which could impact your sales.

Finally, there’s the risk of personal sacrifice. Starting a new business requires a lot of time, energy, and dedication. This could mean sacrificing personal time with family and friends.

Yes, you can. You can file a parent to the Bureau of Patents in the Philippine Intellectual Property Office.

You need to include a drawing if necessary to make the explanation clear. Then, your patent will be published after 18 months if all your requirements are met.

First, you need to register your business with the SEC (for partnerships and corporations) or DTI (for sole proprietorship). Then, obtain a barangay clearance and business permit from your city/municipality’s mayor’s office. Finally, register your business with the BIR.

You can do this by applying for a patent. This will give you exclusive rights to your product or service, preventing others from copying or reproducing it without your permission.

Creating a business plan for your idea is essential to laying the foundation for a successful business.

To get started, write an executive summary, followed by your operations and organizational plans. Then, write your marketing and financial plans. For a more in-depth guide on writing business plans, visit this page .

Attracting investors to your business idea requires a well-crafted pitch and a solid business plan. Start with a clear and concise summary of your business idea, highlighting its unique value proposition and potential market.

Then, provide a detailed analysis of your target market, competitors, and financial projections. It’s also important to show your own expertise and experience in the industry.

Finally, demonstrate your passion and commitment to the idea to convince investors of your dedication to its success.

You can reach out to investors through networking events, online platforms, or by seeking referrals from other entrepreneurs and industry experts.

When starting a new business, there are several common mistakes to avoid.

First, don’t underestimate the importance of market research. It’s essential to know your target audience and the competition before launching your business.

Second, avoid overspending and be mindful of your finances. The last thing you want is to over-exhaust yourself financially.

Third, don’t try to do everything yourself. Delegate tasks to others and build a strong team to support your business.

Fourth, don’t ignore legal requirements and regulations. Make sure to register your business and obtain all necessary permits and licenses.

Last but not the least, don’t forget to prioritize self-care and avoid burnout.

The decision to start a business alone or with partners varies from person to person.

Starting a business alone means you have full control over the decision-making process and can work at your own pace. However, it also means that you shoulder all the responsibilities and risks on your own.

On the other hand, starting a business with partners can provide additional resources, expertise, and support. However, it also means sharing profits and decision-making power.

Ultimately, it’s up to you to decide which option works best for your business idea and personal goals.

The time it takes for a new business to become profitable varies depending on several factors such as the type of business, the industry, the market, and the business’s financial position.

Some businesses may start generating profits within the first year, while others may take several years to become profitable.

In general, it’s realistic to expect a new business to take at least 2-3 years to become profitable. However, with a solid business plan, smart financial management , and consistent effort, businesses can increase their chances of becoming profitable sooner.

There are many resources available to help you develop your business idea. You can start by exploring online courses, books, and blogs on entrepreneurship and business development.

You can also seek advice and mentorship from other entrepreneurs or industry experts.

Need ideas on how to fund your business in the Philippines?

Don’t have enough  savings to fund your small business  or don’t have much time left to wait for money to come around? Here are some methods you can consider:

1. Sell your assets

If you have a house, a piece of land or perhaps a car, under your name, you might want to consider selling them so you can have starting capital for your business.

Related:  How to Sell your Business in the Philippines

2. Borrow money from a friend or family member

If you don’t have any personal means to produce the money needed for the capital of your business, you can borrow from a friend or family member.

Be careful though as things can get messy among close family and friends when money becomes involved. So be careful not to let this be the cause of any misunderstanding.

3. Consider a partnership

This is another option you can explore if you just need a bit more money to complete funding your business. But since you’ll be dealing with  additional investors  in your business, make sure to give their shares accordingly to avoid conflict.

4.  Get a Bank Loan

If you want to avoid the risk of ruining your relationships with close family and friends when asking them for a loan, you might want to consider asking from the bank (or  other lending institutions ) instead.

Each bank has different terms and conditions so choose one that best fits your needs.

5. Borrow From the Government

You can also borrow from either SSS or GSIS, provided that your business qualify for the criteria they set.

6. Try P2P Lending and crowdfunding

Alternatively, you can look at  P2P lending  as it allows you to borrow money at a lower interest rate, making it a cost-effective option to fund your business.

You can also use  crowdfunding sites  as it has been successful in funding several brilliant business ideas in the past.

So there you go, several ways to fund your small business in the Philippines.

Related: 10 Ways to Fund and Finance your Business

1. Stay up to date with the latest developments

Keeping yourself abreast with the latest developments in your industry enables you to quickly adapt your strategies and methods to remain profitable and competitive.

Countless companies all across the globe have been forced out of business simply because they were too focused on existing methods, failing to recognize the new patterns and trends of the ever-changing market. 

2. Check out the competition

In combat sports (boxing, MMA, etc.,) part of the training involves analyzing their competition. Knowing the opponent’s strategies and tendencies will help in developing a well-planned strategy for the victory.

In a similar vein, entrepreneurs should always be on the lookout for their competition.

What are they up to? What are the current trends? What’s the general direction of the market? How are my competitors adapting to changes?

These are but a few of the questions successful entrepreneurs ask themselves to stay competitive.

3. Get expert advice

Businesses hire all sorts of consultants to help them solve problems and improve existing methodologies and strategies.

Why is this important?

Because having a fresh set of eyes to review and provide a more transparent analysis of the various aspects of your business will keep it in tip-top shape and a better position to innovate.

Not having any problems doesn’t mean the company’s A-OK, as being satisfied with past success and doing nothing to achieve new ones could lead to stagnation. 

4. Don’t rest on your laurels

Remember Nokia and Blackberry? Three decades ago, they were household names all across the world when it comes to mobile phones. Then out of nowhere, Apple dropped the iPhone. Google launched Android.

All of sudden, the titans of the mobile phone industry saw their market share crumble faster than a child eats a cookie.

The moral of the story? There’s always someone out there looking to improve existing ideas, technologies, and methods. Strive to improve and develop existing strategies and products to help secure your company’s future.

5. Learn to adapt

Continuing our train of thought from the previous pointer, learning to adapt to trends and changes is crucial in the survival of your business, especially if you’re in a very competitive niche. What if Nokia or Blackberry used Android as its OS earlier?

They probably would have maintained a significant market share, especially during that time when they were seen as two of the biggest names in the industry.

Samsung identified this shift into improved software and touchscreen tech and launched new products with Android OS. They identified the direction of the trends and adapted faster and their actions helped establish Samsung as a premier mobile phone brand years later.

• How to Fund Your Dream Business in the Philippines.
• How to Buy a Business in the Philippines
• How to Sell a Business in the Philippines
• Top Business Sectors in the Philippines [According to Data]

Disclaimer: All information listed in this article is for information purposes only. Although utmost effort was made to ensure accuracy of information on this website, readers must not solely rely on it in making any investment or financial decision since it does not take into consideration the risk tolerance, financial situation, investment goals, and experience of readers. It is best to consult a professional financial planner or your bank before investing to make a more informed choice and limit your risk exposure.

• Grand View Research
• Research Gate
• Compliance Online

About Amiel Pineda

Amiel Pineda is the Head of Content at Grit PH.

He started freelance writing in 2010 doing product reviews and tech news. In 2018, he became a full-time freelancer, writing in the financial space and creating content for clients in various niches.

Prior to freelancing full-time, he worked 7 years in the financial services industry for a Fortune 500 company.

He also writes on his personal blog, Homebased Pinoy (https://homebasedpinoy.com/), where he shares tips and guides as a work-from-home freelancer, along with NFT-game guides.

Education: Technological Institute of the Philippines (Bachelor of Science in Electrical Engineering) Focus: Freelancing, Entrepreneurship, Financial Products, Investing & Personal Finance

Reader Interactions

May 2, 2018 at 2:11 am

My family was actually considering a trucking business and it was great to see that you listed here some business ideas that includes trucking in it. Logistics, truck rentals, lipat-bahay. I think its a good idea knowing that capital will be used in purchasing trucks and having a location to store them.

May 25, 2018 at 12:30 am

Thanks for sharing this. I went to the Philippines for a vacation. I noticed that filipinos loves bazaar. I think that it is really perfect business to start to in the philippines.

June 26, 2018 at 10:49 pm

You might wanna add website flipping to your list. It’s a sub-niche under blogging but extremely profitable especially if your reader base is from the US. I suggest starting from a niche site that reviews high ticket items on Amazon and grow from there. I once sold a Nursing blog to a US-based entrepreneur for $45,000.

June 27, 2018 at 8:31 am

We’re actually working on a different guide (a more exclusive one for online business ideas) that includes site flipping.

Thanks for dropping by – huge fan of your blog (used to spend hours scouring your history-related list posts).

June 21, 2019 at 5:04 pm

Wow! Good for you.. I am looking into business aside from Nursing. 😊

July 12, 2019 at 11:36 pm

Thank you for sharing your well researched and helpful insights for aspiring businessman like me:) May The Lord bless you more.

August 9, 2018 at 1:18 am

Great blog! very informative but now a days online services is very important like Internet service provider, an email provider, a news provider, an entertainment provider, a search engine, an e-commerce site, an online banking site.

March 24, 2020 at 3:57 am

hi John Lee.. im engaged in BPO business since July last year but i found its hard for me to manage esp in comes to maintenance, salary to agents and adm employee when i depend only on the revenue. so im planning to look for a lending with a lower rate where i can borrow for additional capital. and also i need a new campaign provider for another account after this pandemic season ends.

October 19, 2018 at 4:03 am

Other income opportunities 99% of Filipinos don’t know and can earn anonymously: Legal but not profitable : 1. PTC 2. Faucet 3. TE 4. PTP 5. GPT 6. List go on… Illegal but profitable: 1. HYIP 2. ICO 3. Mining 4. Matrix 5. Cycler 6. List go on…

November 8, 2018 at 4:20 am

I am an American with a Filipina wife. We will be moving to Angeles City soon. I own hundreds of very high value domains. I am looking to build a team of 4 web designers and marketers to help build the web business. This is an opportunity to partner with me and we share the profits. email me at [email protected] if you are honest, ethical and understand websites.

May 8, 2019 at 6:27 am

hi sir, interested, but i know only microsoft word on how to use, work experience in audit

April 11, 2020 at 1:32 pm

hi I am an Australian guy looking to set up a business in the Philippines. I have cash available. Any ideas out there?

May 23, 2020 at 8:22 pm

Hi John, Hope all is well with you today. Feel free to message me. Thank you & God bless!

September 23, 2020 at 2:13 pm

Hi, John. I would recommend you to set up an apartment building here particularly here in Davao. The City of our president. It is my very focused business idea why I am working so hard now. This business is one of the most needed here since a lot of people are moving in this area nowadays due to its booming economy.

April 30, 2021 at 6:08 am

Thrift Business.

December 25, 2018 at 4:06 pm

Sir I have a small mechanical idea however I don’t know how to make a plan were to go to put it into plan before it will be produced, I believe that my idea will sell like hotcakes and could make me rich. Will you please Sir, include in your list such concept of inventions as entrepreneurship kind of business. Selling product from our inventions. Thank you Sir,

May 24, 2019 at 1:49 pm

I would suggest that for newbies in business, they could also consider franchising or investing in reputable companies. There are also try what we call mutual funds which could help one invest, earn money, while working at the same time. The construction industry is also a very profitable business, and I’m thinking of investing in one. I heard Flexicore Construction Services has great reputation and standing in the industry, and they are currently moving forward for further growth. Investing to them could be a wise endeavor.

July 31, 2019 at 9:52 am

Hello everyone 🙂 I’m quite new to 3d printing and I have quite a few questions on the matter, so I hope you won’t get mad at me for asking here at least a few of them. I think even before I’ll get seriously into modelling I should focus on the software itself, and that’s what I’d like to ask you about. Mainly, should I start with the most crudest software there is or would it be better to start on something more complicated? I’m worried that I’ll get some undesirable quirks while working with less complex software. My second question is about the program as well: should I look for program that will allow me design and slice it in it, or should I use a different software for each of them? Does it even make a difference? Surprisingly, I couldn’t find the answer to that, as it seems like most sites want to focus on the very basics (like what is 3d printing and so on), and while the answers to those questions are fine, it seems like no one wants to go into the details (it looks like some of them even steal from each other! I swear I’ve found the same answers to the same questions on at least 3 different sites) but I’m getting off-topic… The last question is about 3d pens. Would it be possible to somehow convert whatever I draw with a 3d pen to a 3d model in a CAD software? For example, if I’ll draw a car with 3d pen, would it be possible to get its design in a software? I’m not sure how that could even work, but the very idea sounds interesting to me. Anyway, I think I’ll stop here just in case no one will answer me and all of this writing will go to waste. I apologise that I’m using your content to ask questions, but I hope you can relate and advice a beginner like me. Anyway, thank you for posting. I did learn something from this and that’s always appreciated. Thank you, and I hope to hear back from you very soon 🙂

July 31, 2019 at 10:28 am

Great tips for a startup business with how much investment required befoe starting. you know Amiel I found That info only at your blog…

August 14, 2019 at 1:09 pm

Amiel, I hate you! Because you just crossed out one of my to-do-list to create a list of Small Business ideas & Opportunities in the Philippines LOL. I want to add the following though because I think they are worth investing: (1) Document Management Services. Examples of tasks under this category would be managing electronic documents lifecycle, creating interactive PDFs, applying document version control, and performing back up, etc.; (2) Umbrella Repair Services; (3) Knapsack Sprayer Repair Services; (4) Any Type of Sprinklers Repair Services; and (5) Urban Farming Services.

August 19, 2019 at 12:56 am

Perfect lists of business ideas with numerous tips for startup business. Great work!

August 22, 2019 at 9:22 am

Wow, this is what you call a LIST! 😀 Thanks!

December 30, 2019 at 2:10 am

Hi, in running a business it is always best practice to document your transactions with well-written legal and business documents. Don’t rely only on verbal agreements.

We here at Legal Tree can provide you with these documents for your business at affordable prices. With Legal Tree, you can create legal and business documents anytime online within minutes in a simple and affordable manner. You can also customise any document you create to tailor-fit it to your situation.

If you want to learn more about Legal Tree and our services, please visit our website at http://www.legaltree.ph or send us a message on our Facebook page at https://facebook.com/LegalTreePh .

We look forward to hearing from you and helping you save on essential legal services.

February 29, 2020 at 4:03 pm

Magandang business ngayon ang Food Trucks. Pwede mo ipwesto kahit saan, Mayor’s permit lang kelangan. Maganda magpa-customize sa BONTELLA FOOD TRUCK BUILDERS PHILIPPINES. Just contact their number 0917-6581956, message their FB page https://www.facebook.com/bontellafoodtruckbuilders/ or visit their website at https://www.bontellafoodtruckbuilders.com/

March 6, 2020 at 8:17 am

Thanks…..great blog. just a suggestion to include in your list. I have several friends who are into scale modelling, their creations are generally used as either background piece or props in TV ads, movies, real states exhibitions and museums. Its not a well known enterprise but I’m sure they make good money too.

September 29, 2020 at 6:52 am

I will be on the lookout for more of your work.

November 3, 2020 at 1:52 pm

You may want to add aquascaping in your list. Its for fish hobbyist and its a new industry in our country. Kailangan may skills ka but its not hard to learn from it. You can start selling it in your area but ideally in metropolitan cities.

July 9, 2021 at 2:16 pm

The Philippines is one of the great Asia-Pacific Tiger success stories, and in just a decade it has grown into an enviable regional powerhouse with a higher GDP per capita than that of Thailand, Malaysia or Singapore. A lack of geographical barriers such as borders means the nation is ripe for trade and investment opportunities. The country’s infrastructure as well as its highly educated workforce have also served to attract growth from multinationals and SMEs alike. Furthermore, there are a number of additional small business ideas you may be interested in knowing more about should you wish to develop products for these markets. Just some examples include: agriculture; food processing; chemical industry (e.g., plastics); chemical grade steel production; electronics assembly manufacturing; and industrial exports.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We need your help!

Our team is currently conducting research for an upcoming guide focusing on starting a business in the Philippines . We would greatly appreciate your contribution, which should only require a few seconds of your time. 

Thank you in advance!

• Digital Marketing
• Search Engine Optimization (SEO)
• Digital PR & Link Building
• Social Media Marketing
• Digital Advertising (PPC & Social)
• Content Marketing
• Copywriting
• Email Marketing
• Conversion Optimization
• Web/App Development
• Ecommerce Development

Please enable JavaScript in your browser to complete this form. Name * Location of Business * Number of Employees * 1 - 10 11 -50 51 - 100 100 - 500 500+ Phone Number * Email * Insurance Company Standard Insurance AXA Philippines BDO AIG Submit

Please enable JavaScript in your browser to complete this form. Full Name * Company Name * Mobile Number * Email Address * Submit

Please enable JavaScript in your browser to complete this form. Name * Contact Number * Email Address * Target Location Preferred Developer * Ayala Land SM Prime Megaworld Alveo Land DMCI Homes Federal Land Robinsons Land Corp Vista Land and Lifescapes Filinvest Land Shang Properties Century Properties Empire East Rockwell Land Email Submit

Disclosure: Your personal details will not be shared with any third-party companies. We’ll just need your contact details so our resident real estate agents can reach you to provide you with the details for any of the listed property developments you’re interested to invest in.

Please enable JavaScript in your browser to complete this form. Name * Age * Location* Phone Number * Email Address * Insurance Company Sun Life Financial Pru Life U.K. AXA Philippines AIA Philippines Manulife Insular Life BPI-AIA BDO Life Etiqa FWD Insurance Allianz PNB Life Comment Get a Quote

Disclosure: Your personal details will not be shared with any third-party companies. We’ll just need your contact details so our resident financial advisors can reach you to provide you with the details for any of the listed insurance company you’re interested in.

• Beauty Products
• Clothing & Apparel
• Food Business
• Laundry Shop
• Water Refilling Station
• Business Registration
• Marketing Strategy
• Human Resources
• Uncategorized
• Small Business Ideas in the Philippines (2024) Business Ideas

How to Start a Business in the Philippines

By  Yesh Quijano     August 8, 2023       min read

Table of Contents

Key Takeaways:

• Business Idea: A successful business begins with an idea that matches your skills and market needs.
• Market Research: Understand your competition and potential customers through thorough research.
• Business Structure: Choose the appropriate structure (sole proprietorship, partnership, or corporation) based on your business goals.
• Business Plan: A clear and well-crafted plan is crucial for your business’s direction and attracting potential investors.
• Raising Capital: Explore various funding sources, including grants, loans, crowdfunding, and personal savings.
• Legal Registrations: Registering your business with the appropriate government agencies is essential for legality and smooth operations.
• Technology Use: Employ POS systems and accounting software to streamline business operations and enhance financial tracking.

Does owning a successful business in the Philippines and calling yourself a business owner make your heart beat faster?

Starting a business can be filled with opportunities and challenges, especially in a vibrant economy like the Philippines, a country with an entrepreneurial spirit.

If you’re considering how to start a business in the Philippines, you’re joining the ranks of an estimated 1 million entrepreneurs who launch their ventures here each year.

But where do you start?

From crafting a compelling business idea to navigating the maze of business registration, this guide will take you through each step to transform your entrepreneurial dream into a thriving reality.

Let’s dive in.

Step 1: Come up with a business idea

The spark of entrepreneurship starts with a great idea. But how do you know if your idea has the power to create a successful business in the busy Philippine market?

At Trailblazer, we believe that the  key to a successful business is its ability to solve problems, meet needs, and add value for its customers. To help you find a suitable business idea, ask yourself these critical questions:

• What are my interests or hobbies that I could turn into a business?
• What unique skills or expertise could I capitalize on?
• Is there a hole in the market that my company could fill?
• Who would benefit from what I have to offer?
• What would make my business stand out from the crowd or give it something extra?

There are many business opportunities in the Philippines for people who want to make their mark. To give you an idea, below are the top 5 most popular businesses in the Philippines according to MSMEs (Micro, small and medium enterprises):

• Wholesale and retail trade ; repair of motor vehicles and motorcycles
• Accommodation and food service industry
• Manufacturing
• Other service activities
• Financial and insurance activities

You can also check out DTI’s list of business ideas here.

Remember, each industry has its opportunities and challenges, so it’s essential to base your business idea on a field you’re interested in and know much about.

Step 2: Research the market

Once you have a good idea for a business, the next important step is to research the market. This process will give you a deeper understanding of your potential customers, competitors, and overall industry dynamics. Here are some essential questions to guide your market research:

• Who are my target customers? What are their demographics, needs, and buying behaviors?
• Who are my competitors? What are they doing well, and where are their weaknesses?
• What is the size of my market? Is it growing or shrinking?
• What trends are shaping my industry? How might they impact my business?
• How does my business differentiate itself from the competition?
• What are the potential opportunities and threats in my market?
• What are the pricing models in my industry? Where does my product or service fit in?

Effective market research can distinguish between a business that does well and one that needs help getting off the ground. It gives you essential information to help you make intelligent decisions, shape your marketing plans, and set up your business for success in the busy Philippine market.

Step 3: Decide on the business structure

Your choice of business structure will affect your business in many ways, including taxes, legal liability, day-to-day operations, and the chance it will grow. There are three main ways to set up a business in the Philippines:

• Sole proprietorship. This is the simplest form of business entity, where one person owns and manages the business. It’s the easiest and least expensive to set up, but the owner is personally liable for all debts and obligations of the company.
• Partnership . This involves two or more people agreeing to share a business’s profits and losses. A partnership can be a general partnership, where all partners share equally in rights and liabilities, or a limited partnership, where one or more partners have limited liability but cannot participate in management decisions.
• Corporation . This legal entity is separate from its owners, providing them limited liability. It requires more paperwork and is more expensive to set up than a sole proprietorship or partnership. However, it’s often preferred for larger businesses or those seeking outside investment due to its structure and legal protection.

When choosing a business structure, you should consider your business objectives, how you feel about taking risks, how much money you need, and how you like running your business. It would be best to talk to a business advisor or an attorney to determine each choice’s legal and financial effects. Remember that having the proper structure can give your business in the Philippines a strong base.

Step 4: Business Planning

What is a business plan?

A business plan is a formal written document that meticulously outlines your business goals and how you intend to achieve them. It serves as a roadmap guiding your business toward growth and success. It details what you want to do and explains how you plan to do it, making it an indispensable tool in your entrepreneurial toolkit.

Why do you need a business proposal?

A business blueprint isn’t merely a document; it’s the compass that guides your business journey. Here are a few compelling reasons why you need one:

• Clarity: It helps crystalize your business idea, giving you a clear vision of what you want to achieve and how you intend to do it.
• Strategy: It’s where you establish your business strategies and action plans. From marketing to operations, it’s the document where you detail the tactics to drive your business toward its goals.
• Financing: A well-crafted business plan is crucial for entrepreneurs seeking external funding. It demonstrates to potential investors or financial institutions that you’ve thought things through and have a viable business proposition.
• Benchmarking: It serves as a baseline for tracking your progress and making necessary adjustments as your business evolves.
• Communication: It’s an effective tool to communicate your business vision, mission, and strategies to your team, ensuring everyone is aligned and working towards the same objectives.

What to avoid in your business plan

As important as a business plan is, it’s just as important to know what to avoid when writing it. Here are a few mistakes that people often make:

• Overly optimistic projections: It’s great to be hopeful, but unrealistic sales and revenue forecasts can harm your credibility. Always base your predictions on reliable data and plausible assumptions.
• Ignoring the Competition: No business operates in a vacuum. Ensure you’ve thoroughly analyzed your competitors, understanding their strengths and weaknesses.
• Lack of Clarity: A business strategic plan is not the place for jargon or ambiguity. Keep your language straightforward and your objectives clear.
• No Marketing Plan: A great product or service is part of the story. Ensure you have a robust marketing strategy to reach your target audience.
• Skipping the Executive Summary: The first section potential investors will read is a business synopsis. Skipping or not giving it due importance could make or break their interest.

Business plan format

The format can vary, but here’s a typical outline:

• Executive Summary
• Company Description
• Market Analysis
• Organization and Management
• Service or Product Line
• Marketing and Sales Strategy
• Funding Request (if applicable)
• Financial Projections

We encourage you to review the Department of Trade and Industry business format for further guidance.

6 steps to a great business plan:

To create a great business operational plan, follow these six steps:

• Begin with a clear, concise executive summary that gives an overview of your business.
• Provide a thorough company description that explains what your business does, who it serves, and what differentiates it.
• Conduct a comprehensive market analysis that shows your understanding of your industry, competition, and target audience.
• Detail your business structure, management team, and key personnel.
• Explain your product or service, its benefits, and how it meets the needs of your target market.
• Outline your marketing and sales strategy, demonstrating how to attract and retain customers.

A well-crafted business model doesn’t just guide you as you build your business; it also helps stakeholders, including potential investors, understand your vision and the market potential of your venture in the Philippines.

Step 5: Raise your capital

To bring your business idea to life, you’ll need capital. Your business plan should help you figure out how much money you’ll need to start and run your business until it turns a profit. Here are some places you could get money:

• Small business grants. Small business grants are funds given to a business that doesn’t have to be paid back. Some government agencies and private organizations in the Philippines offer grants to help micro businesses, especially those in specific industries or regions.
• Small business loans. These are loans specifically designed for small businesses. Banks, microfinance institutions, and government agencies like the Development Bank of the Philippines (DBP) offer loans with terms favorable to startups.
• Personal Loans . These are loans that individuals obtain for personal use but can also be used to finance a business. They can be accessed from banks and other financial institutions, though interest rates may be higher than for small business loans.
• Crowdfunding. This involves raising small amounts of money from many people, typically via the Internet. Platforms like Kickstarter or local sites like The Spark Project allow you to pitch your business idea to potential backers.
• Friends and Family. Often, friends and family are willing to invest in your business by giving you a loan or buying a share.

Remember that each way to get money has its advantages and risks. Before choosing the best funding source for your business, it’s essential to carefully think about what you need, how much it will cost, and how easily you can pay it back. Starting a business in the Philippines, like anywhere else, requires money. Make sure to plan and raise yours wisely.

Step 6: Choose a strategic business location

Location can make or break a business. The right place can give your business the exposure it needs, bring in the customers you want, and affect your operating costs. When starting a business in the Philippines, thinking carefully about a strategic location is essential.

Think about what your business is about. For example, a retail store would benefit from high foot traffic, while a manufacturing business may need ample space for equipment and easy access to transport links.

Here are some factors to keep in mind:

Demographics

Ensure your location aligns with the demographics of your target market. The area’s population size, income level, and lifestyle habits can significantly affect your business’s success.

Accessibility

How easy is it for customers and employees to reach your business? Look at the transport links, parking availability, and overall convenience.

Competition

Are there similar businesses nearby? Sometimes being close to competitors can be beneficial, but other times it can lead to market saturation.

Can your business afford the rent or purchase price, utilities, taxes, and other expenses associated with the location?

Local Laws and Regulations

Different areas may have specific zoning laws and business regulations. Make sure your business activities are allowed in the chosen location.

Growth Potential

Does the location offer room for business growth?

Remember that a good location can give your business an edge. Take your time researching, look at more than one site, and ask a professional for help if needed. Choose carefully because your location is more than just an address—it’s where your business objectives come to life.

Step 7: Business registrations and permits

Once you’ve secured your capital and chosen your location, it’s time to legitimize your business. This involves applying for the necessary permits and licenses to operate legally in the Philippines.

Apply For Business Permits and Licenses

Businesses require different permits, but all companies need a mayor’s or business permit from their local city or municipality.

• Department of Trade and Industry (DTI): Acquiring exclusive rights to your business name necessitates registration with the appropriate agency. This step is mandatory for sole proprietors. You can complete your registration at any Department of Trade and Industry (DTI) Regional or Provincial office. A directory of these offices is available on the Contact Us page. Alternatively, you can register online at www.bnrs.dti.gov.ph . For those outside Metro Manila, applications for Business names can be filed at the nearest DTI regional or provincial offices. The provided link can access the Sole Proprietorship Business Name registration application form. Download, fill out the form, and present it to your local DTI office for walk-in applications.
• Securities and Exchange Commission (SEC): For a Partnership or Corporation to be recognized as a legal or judicial entity, it’s critical to register with the Securities and Exchange Commission (SEC). Register at: Head Office: Secretariat Building, PICC Complex, Roxas Boulevard, Pasay City, 1307 Trunkline No.: (+632) 8818-0921 Email: [email protected] Website: www.sec.gov.ph  (for online registration)
• Cooperative Development Authority (CDA): All cooperatives must register with the CDA per Republic Act 6938/6939. You may register at: Cooperative Development Authority (CDA) 6/F Benlor Building, 1184 Quezon Avenue, Quezon City Tel. No.: (+632) 373.6895 Website:  www.cda.gov.ph
• Local Government: Besides the Mayor’s Permit, your local government unit may require you to obtain a Barangay Clearance from your local barangay office. This confirms that you’ve asked permission to operate your business in the community. The process of registration can differ across various cities and municipalities. To access a comprehensive list of Local Government Units (LGUs), kindly refer to the Department of Interior and Local Government website or visit http://lgu201.dilg.gov.ph/ .

Register with the Bureau of Internal Revenue (BIR)

All businesses must register with the BIR to obtain a Tax Identification Number (TIN), register their books of accounts, secure BIR-printed invoices and receipts, and know their tax type and due dates.

Register with the Social Security System (SSS), PhilHealth, and Pag-IBIG Fund

Once you hire employees, you must register your business with the Social Security System, the Philippine Health Insurance Corporation (PhilHealth) , and the Home Development Mutual Fund (Pag-IBIG Fund) .

These provide your employees with benefits, healthcare, and housing loan programs.

Register with the Department of Labor and Employment (DOLE)

You must register your business with DOLE if you employ five or more workers. This ensures you comply with the country’s labor laws and standards.

Step 8: Open a business bank account

Having a separate bank account for your owned business is not just a good idea—it’s a must. It keeps your business transactions different from your own. This makes it easier to do your taxes and gives you a clearer picture of your business’s financial health.

Here’s how you can open a bank account for your business in the Philippines:

How to Choose the Right Bank

Consider the bank’s reputation, where its branches are, fees, minimum balance requirements, and services like online banking and credit card processing.

Here are some additional tips for choosing a bank for your business:

• Get quotes from multiple banks. This will help you compare rates and fees and find the best deal for your business.
• Consider the bank’s reputation. Read online reviews and talk to other business owners who bank with the bank you are considering.
• Make sure the bank has the products and services you need. Not all banks offer the same products and services. Ensure your chosen bank has the right products and services for your business.
• Talk to a banker. A banker can help you understand the bank’s products and services and answer any questions.

Prepare the Required Documents

The requirements may be different from bank to bank, but your business permit, SEC or DTI registration , barangay clearance, and TIN are likely to be needed by most banks. If you’re a business, you may also need your articles of incorporation and a board resolution saying that you want to open a bank account.

Application Process

The next step is to go to the bank in person and complete an application form. Once you’ve picked a bank and completed your paperwork, you can do this. The bank will review your papers and ask you a few questions.

Initial Deposit

You’ll be asked for an initial deposit once accepted. The amount is different at each bank.

Here are some of the best banks in the Philippines for businesses to consider, along with their advantages:

• The largest bank in the Philippines has an extensive network of branches and ATMs, providing convenience and accessibility.
• Offers a wide range of business banking products and services, including loans, deposits, and treasury services.
• They are known for excellent customer service, ensuring a positive banking experience.
• Competitive rates can benefit businesses seeking favorable terms for their financial transactions.
• The second-largest bank in the Philippines, providing stability and reliability.
• Offers innovative products and services, demonstrating a commitment to staying up-to-date with industry trends.
• Strong focus on customer service, aiming to deliver high client satisfaction.
• Third-largest bank in the Philippines, providing a sense of stability and reliability.
• Strong financial performance, indicating a solid track record and financial strength.
• Commitment to corporate social responsibility can appeal to businesses looking to align with socially responsible institutions.
• Leading commercial bank in the Philippines, signifying its prominence and market presence.
• Strong financial performance, indicating stability and sound management.
• Commitment to customer service ensures businesses receive reliable and efficient banking services.
• Government-owned bank with a focus on supporting Philippine businesses and promoting economic development.
• Offers loans and financial services tailored to meet the specific needs of businesses and borrowers.
• Long history of supporting Philippine businesses and providing expertise in the local business landscape.

Below are some of the best digital banking options for businesses in the Philippines , along with their advantages:

• Offers a variety of business banking products and services, including high-interest savings accounts, business credit cards, and business loans.
• Known for its innovative products and services, indicating a focus on providing modern and convenient banking solutions.
• Strong commitment to customer service, ensuring a positive and personalized banking experience for businesses.
• UnionBank Digital
• Offers a range of business banking products and services, including high-interest savings accounts, business credit cards, and business loans.
• Demonstrates a commitment to corporate social responsibility, appealing to businesses that value ethical practices.
• Tonik Digital Bank
• Provides a high-interest savings account with a guaranteed 6% interest rate, offering an attractive opportunity for businesses to earn higher returns on their savings.
• Known for its simple and user-friendly platform, making banking operations convenient and accessible.
• Competitive interest rates are favorable for businesses looking to maximize their savings.
• EastWest Bank SME Digital
• Offers a range of products and services tailored to small and medium-sized businesses, including business checking accounts, business loans, and business credit cards.
• Known for competitive rates, indicating favorable terms for financial transactions.
• A convenient online banking platform provides businesses easy access and efficient banking operations.
• RCBC EasyInvest Provides a digital banking platform for businesses to invest in stocks, bonds, and mutual funds.Known for low fees, offering businesses cost-effective investment opportunities.Easy-to-use platform, enabling businesses to navigate the investment process smoothly.

Remember that a business bank account is more than just a place to store your earnings. It’s a tool that can help you manage your cash flow, make transactions easier, save for the future, and build a financial history for your business in the Philippines. Think of it as an essential part of your business.

Step 9: Set up an accounting system

When running a business, it is essential to have an effective accounting system in place. It helps you keep track of your income and costs, ensure you’re following the law, and make intelligent business decisions. Here’s how to set up your business’s accounting system in the Philippines:

Choose the Right Accounting Method

Decide if you’ll use cash accounting (recording transactions when cash changes hands) or accrual accounting (recording transactions when they occur, regardless of payment). Small businesses often start with cash accounting due to its simplicity.

Choose the Right Accounting Software

To make things easier, use accounting software. The right software for you will depend on your needs, budget, and business size. QuickBooks, Xero, and FreshBooks are all popular choices.

Set Up Your Chart of Accounts

This list of accounts will categorize your transactions. Common accounts include assets, liabilities, equity, income, and expenses.

Document Your Financial Policies

Documenting your financial policies helps ensure consistency and transparency in handling your business’s financial matters.

Maintain Regular Financial Reviews

Review your financial statements regularly to see how your business is doing financially and make intelligent choices.

Remember that setting up an accounting system might seem hard initially, but it’s necessary if you want to manage your business’s finances well. If you need help, consider hiring an accountant or bookkeeper. Your business will be more likely to make money if you work hard at this step.

What is POS?

A POS, or point of sale system, combines software and hardware that allows businesses to complete transactions and simplify critical day-to-day business operations. Essentially, it’s where a customer pays for goods or services at your store.

Here’s how a POS system can help businesses improve their accounting systems:

• Seamless Transactions: A POS system can process payments quickly and accurately, reducing the risk of manual errors that can throw off your books.
• Real-Time Tracking: It provides real-time updates on your sales, inventory, and customer information, ensuring your accounting system always has the most recent and accurate data.
• Inventory Management: A POS system keeps track of your stock levels, automatically updating inventory records in your accounting system. This means you always have a clear picture of what’s selling and what’s not, helping you make smarter inventory decisions.
• Detailed Reports: A POS system can generate detailed sales reports, revealing patterns and trends vital for business planning. These insights can be invaluable for forecasting, budgeting, and other accounting tasks.
• Streamlined Operations: It can integrate with your other business systems, like your accounting software, creating a seamless flow of information across platforms. This integration simplifies your accounting process, making it easier to manage and reducing the chance of errors.

A POS system is more than just a cash register; it’s a powerful tool that can significantly enhance your accounting efficiency by providing a more transparent, real-time overview of your financial status and helping drive your business toward success in the Philippine market.

Step 10: Create a website

In this digital age, your business needs to have a website. It not only makes you more known, but it also gives you an edge over your competitors. Here’s how to make a website for your business in the Philippines:

Choose a Domain Name

Your domain name is how people know who you are online. Ensure it’s short, easy to spell, and fits your business well. Use a domain registrar you can trust to buy the domain you want.

Example of a domain name: trailblazer.com.ph

Choose a Web Host

A web host gives your website the technology to be seen online. Choose a host based on how much storage, speed, and support your business needs.

You may visit this site to learn more about web hosting.

How to Make Your Website

When designing your website, put the user experience first. It should be easy to use, look good, and work well on mobile devices.

Create Essential Pages

Your website should have at least a home page, an “about” page, a page for products or services, and a “contact” page. Include clear calls to action to help people know what to do next.

Optimize for SEO

SEO, short for Search Engine Optimization, is a technique to make your business website easier to find online. It’s like putting a big, bright sign on your store in the digital world. When people search for products or services you offer, SEO helps your website appear closer to the top of their search results on Google or other search engines. This makes it more likely that people will visit your site and potentially become your customers.

You use relevant keywords throughout your website to help rank higher in search engine results. Remember to put your keywords in the titles and descriptions of your meta tags, too.

Test and publish

Before you make your website public, make sure it works on different devices and browsers. When everything is ready, click “Publish.”

Update Regularly

Keep your content fresh and up-to-date by updating it often. Updates not only keep people interested, but they also help your SEO ranking.

Websites are more than just online business cards. It’s a powerful marketing tool that can drive sales, build credibility, and make your brand known digitally. So, make a site that shows what your business is about and helps your customers.

Step 11: Market and promote your business

Once your business is ready, it’s time to make some noise! Effective marketing can boost your visibility, attract potential customers, and grow your business. Here’s how to market and promote your business in the Philippines:

Online Marketing Strategies:

Social media

Use sites like Facebook, Instagram, LinkedIn, and Twitter to connect with customers, share your content, and promote your products or services. Engage with your audience often to build loyalty and relationships.

Email marketing

Have people who visit your website sign up for your email list so you can send them updates, special offers, and other helpful information. It’s a great way to remind them of your business.

Content marketing

Regularly add valuable and relevant content to your blog or YouTube channel. This can boost your SEO ranking, show that you are an expert in your field, and bring more people to your site.

Paid advertising

Pay-per-click advertising on Google AdWords or Facebook Ads to reach potential customers.

You can incorporate these successful and proven online marketing tactics into your business strategy.

Offline Marketing Strategies

Attend industry conferences, trade shows, or local community events to meet people in your field. This can help you make valuable business connections and attract people who might buy from you.

Print Media

If you want to reach more people, you could use brochures, flyers, or ads in local newspapers.

Promotions and Events

To attract new customers, host events, or offer special deals.

Partnerships

Work with businesses similar to yours to help promote each other.

Remember that marketing isn’t about selling. It’s about getting the right message to the right people. Be consistent, develop new ideas, and listen to your customers’ words. Your marketing efforts in the Philippines may take a while to pay off, but if you are patient and keep at it, they can make a big difference in the success of your business there.

Final Thoughts

There you have it – a complete guide on how to start a business in the Philippines.

Starting a business in the Philippines may seem complicated, but it can be an exciting journey with the right plan and attitude.

Remember that every successful business started with an idea that took time to plan and carry out.

Get educated, keep your mind open to learning, and stay strong even when things get complicated.

Your business journey will never be easy, but each obstacle will bring you closer to your goal.

Let’s make that idea for a business happen today. Trust the process, believe in your vision, and your business will grow.

About the author 

Yesh Quijano

Yesh Quijano is an entrepreneur and digital marketer who's been in the game for over 11 years. He started several businesses and helped countless others reach new heights. His goal is to make digital marketing for SMEs simple, accessible, and effective. When he's not working, you can find him cuddling with his two cats.

Session expired

Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.

• All Business
• Business Ideas
• Franchising
• Small Business
• All Entrepreneurship
• Freelancing
• Human Resource
• Productivity
• All Marketing
• Blogging / Content
• Inbound Marketing
• Social Media
• Money Management
• Saving Money

10 Steps on How to Start a Small Business in the Philippines

“I want to start a small business.”

It’s probably the most popular declaration after “I want to lose weight.” I think most people see a new career as a metaphor for a new beginning just like weight loss.

However, starting a small business is not the same as changing jobs. It is a declaration of independence, the first step in the journey to take control of your finances and career. Have you ever noticed how people seem to bristle a bit when they mention “small business”? I read the message to say, “I want to be conservative in my approach, so I want to start out small.”

But how small is small? More appropriately, when is a business considered small? Depending on where you are in the world, the definition of a small business will be different.

In Australia , a business is categorized as small if it employs fewer than 20 people. However, the definition is relatively complicated in the United States.

According to the United States Small Business Administration ( USSBA ), the parameters that define a business as “small” vary depending on the industry. For example, a business in the manufacturing industry is considered small if it employs 500 to 1,500 people. In retail, a business is considered small if its annual receipts total no more than US$ 21 million.

In the Philippines, the definition of a small business is muddled because a great diversity in size and scale exists. Thus, businesses in the Philippines are categorized into scale.

In the Philippines, a small business is popularly referred to as a small-scale enterprise. By definition, a small-scale enterprise is a business that employs a few people and generates low volume of sales. For simplicity, let’s just stick with the term small business .

Despite the varied definitions, one thing holds true for small businesses regardless of where you are in the world:

Of all the businesses around the world, 98% are categorized as small businesses! You can check the statistics for Canada , Australia , and the United States , and the figure hovers around 98%.

This information means that the growth of an economy depends on the success of small businesses. In the United States alone, small businesses have accounted for 65% of new jobs created since 1996.

As a small business owner, you are not so small after all! You hold the key to getting the economy on the right track!

If you are serious about starting a small business, here is a 10-step guideline to get you on your way to an entrepreneurial career.

Table of Contents

1. Draw up a short list of business ideas

An idea is popularly represented by a light bulb. The energy that powers the light bulb comes from the same source that fuels ideas: inspiration!

On a sheet of paper, write down a list of potential business ideas. Then, intuitively cross out the ones that you feel won’t work. Continue the process until only one idea is left on the list.

Entrepreneurs are intuitive people by nature. It is highly probable that the only idea left on the list has been in your mind for the longest time. It may have been a result of an incident that left an imprint in your subconscious that “there is opportunity here.”

Have you heard of Mira Modi , the 11-year-old girl who sells ultra secure, virtually unbreakable passwords? She got the idea while working for her Mom who was writing a book on cyber security.

You’ll never know when inspiration will strike. If it does, make sure to make a note of it before someone else does!

Related:  54 Best Small Business Ideas in the Philippines for 2016

2. conduct a project study.

Once you have identified your business idea, you have to validate it with a project study. Intuition by itself does not assure you of a good idea. A project study can give you the basis to push through with the idea or not.

A project study is composed of three parts:

• Market study – Determines if there is a demand for the product or service and its target market.
• Marketing study – Outlines the strategies to connect to the target market.
• Feasibility study – Determines if the project will be viable.

Take your time in preparing the project study. If you have the budget, contract the services of a market research professional to conduct the market and marketing studies. Once these have been completed, you can contract an accountant to prepare the feasibility study.

3. Prepare a business plan

Every business needs a guide map that charts its course and navigates through periods of uncertainty. This guide map is called the business plan. A business plan consists of the following sections:

• Executive Summary. Although an executive summary comes out first in the business plan, it is written last. As it implies, an executive summary is the condensed version of what a business plan is and what it seeks to achieve.
• Business Overview. This part has three parts:
• External Analysis – Overview of the industry and the economy
• Internal Analysis – Overview of the company and its organizational structure
• SWOT Analysis – Overview of the business’s strengths, weaknesses, opportunities, and threats
• Business Goals and Objectives . What the business wants to achieve is identified in this section.
• Courses of Action. This section identifies the strategies that the business proposes to implement in order to achieve its goals and objectives.
• Business Model/Framework. It presents the system or set of processes that defines the operation.
• Summary of Products or Services. This section includes the various offerings of the business.
• Marketing Models. This section presents how the business plans to market and promote its product and services.
• Financial Projections. In this section, how you plan to finance the business operations is discussed.

A project study is the reference for a business plan.

A business plan is also used by entrepreneurs in securing funding from banks, venture capitalists, and investors to capitalize the business.

4. Put together your sources of funding

If the project study has assured you the viability of the business and if the business plan shows that the enterprise can be managed over the next few years, the next step is to get the funds together.

Funding is allocated for the following purposes:

• Capital expenses . They cover the costs of equipment and acquisition of other assets.
• Pre-operating expenses. They cover deposits, licenses, permits, marketing, recruitment, and other items needed to get the business started.
• Working capital. The amount should cover the cost of operation for at least six months or until the business generates enough revenue to support itself.

The biggest concern of most entrepreneurs is funding the business. You can fund your business from your own savings, borrow money from lending institutions, or get investors to put in money.

As a rule of thumb, if the total cost of running your business monthly will compromise your day-to-day activities, do not use your savings. If you have a job, keep it. Then, run the business part-time.

The decision to borrow depends on your projected financials. If the income statement and cash flow remain positive despite the interest charges, then getting a loan may be worthwhile. Thus, keeping your projections on the conservative side is advisable.

When you have the funds together, deposit them in a current account with a passbook and check book for easy disbursement and tracking.

5. Determine your business identity

The following are the three types of business structures:

• Corporation
• Partnership
• Sole proprietorship

You have to decide which structure best suits your business. Each structure has advantages and disadvantages.

The costs of setting up a corporation are much higher than the costs of setting up the other two business structures. You must also submit annual reports to the Securities and Exchange Commission (SEC). Sole proprietorship and partnership business structures are much easier to set up than a corporation.

However, a corporation has the advantage in terms of bankruptcy or adverse business situations. In a corporation, the extent of the liability is only until the amount of its assets. On the contrary, even your personal assets can be garnished by creditors in sole proprietorship.

The best approach is to consult with your accountant or a lawyer. There will also be tax implications based on the type of organization you choose.

6. Come up with your business name

Most entrepreneurs forget a very important aspect of a business: branding. Your brand represents who you are and what your business is about.

Your business name or trade name should represent the brand. This name is important because it identifies your enterprise. Therefore, it must be:

• Relevant to your business
• Easy to remember
• Easy to spell

When I thought of “Benchmark” as the name of my company, I alluded to the tasks of the service providers in business process outsourcing industry to consistently attain a standard of excellence.

Registering a business name is difficult because most of the best ideas have already been taken. My first few choices included the words “Paramount,” “Pinnacle,” “Apex,” and “Bridge Land.” Every single one and its variations were taken.

You should be ready with at least five choices.

7. Register your business

Once you have decided on your organizational structure and as soon as the trade name has been reserved, move to have your business registered. Here is the list of important business documents that you have to secure:

• SEC Articles of Incorporation. This documentation proves that your business is registered under the laws of the Republic of the Philippines.
• BIR Clearance. You cannot obtain the other permits without acquiring a clearance from the Bureau of Internal Revenue.
• Barangay Clearance. It is a proof that your business has complied with the requirements of the barangay from where it operates.
• Mayor’s Permit. This is required for you to start your business within its area of operation.

I am often asked by owners of home-based businesses if they should acquire these permits and licenses. My answer to them is to always play it safe. If you are earning income, it will be subject to tax. You have to be responsible in declaring and paying the correct amount of taxes.

If you have elected to register as a corporation, SEC will require you to indicate a business address. If your village expressly prohibits households to run enterprises within the premises, you will have to rent a space to receive business communication for your company.

The lessor will require you to submit copies of your papers from SEC or those from the Department of Trade and Industry, BIR Clearance, Barangay Clearance, and Mayor’s Permit.

The cost of a receiving space for business address purposes varies from as low as Php 500 to Php 5,000 a month depending on its features.

8. Build your website

Regardless of the type of your business, you should have a website because it is your portal to the Internet.

If you own a brick and mortar business, your market coverage extends to approximately a five-kilometer radius from your location. How many people would a five-kilometer radius cover?

However, if you have a portal to the Internet, your business doors are open to a market size of more than three billion people every day! Your website is your virtual business address. This is where people find you online.

Despite the numerous advantages of having a website, only 53% of all businesses have websites . This is due to lack of information and a thorough business plan.

If you plan to build a website, it should have the following features:

• Mobile responsive
• Fast download time
• Accessible by multibrowsers
• Great, relevant content
• Highly functional

Even though you can build a website using free, downloadable templates, do not take chances. Always hire a professional website designer or webmaster to make your website. How about trying  Tycoon.ph web design solutions ?

First impressions matter. If your website fails to provide a good user experience, you may never see your site visitors again.

9. Develop your value chain

Before you launch your business, you must make sure that all systems are in place to ensure that the operations will run smoothly. This group of systems is called your value chain. The basic structure of a value chain includes the following:

• Back office support
• Suppliers/creditors
• Frontline people
• Customer support
• Marketing group
• Professional consultants/advisers

The purpose of setting up the value chain is to add value to your proposition. Its structure depends on the type of business you have. An e-commerce business can have a large back office support system with inventory management and merchant banking to ensure smooth facilitation of payments.

10. Market and promote your business

Finally, always work to market and promote your small business!

Before the Internet became a significant force in the world of business and commerce, most marketing and promotional strategies centered on traditional methods.

When we managed a chain of restaurants from 1998 to 2008, we met with several different marketing and promotional agencies. Not a single one suggested using online marketing strategies, such as search engine optimization (SEO), social media, and link building, and only few advised us to start a website.

They all suggested the same tactics: flyers, posters, banners, point of purchase materials, press releases, news advertorials, food tasting, celebrity endorsements, and discounting promos. Traditional marketing strategies are difficult to measure, and there were no significant returns on sales.

Keep in mind that Twitter, Facebook, and You Tube already exist in 2005. The Internet population has also been consistently growing since 2000 when there were an estimated 361 million users worldwide.

Traditional marketing strategies still have their place in the process, but these should be primarily focused on local markets. The bulk of your marketing and promotional budget should be allocated to digital marketing strategies. These should always include the Big Four:

• Social media
• Content marketing
• E-mail marketing

I suggest you hire a digital marketing professional who can manage a team to run your campaign. The cost depends on what the campaign entails but the great thing about digital marketing is that its performance can be measured with analytics. You can easily determine if you are getting a return on investment.

Related:  8 Creative Marketing Tips to Make Your Business Stand Out

Your turn: start a small business.

The hardest part of having a business is starting it. However, once it gains traction, it becomes easier. You will also understand the value of going through these 10 steps to start a small business.

In time and with consistency, your focus will begin to shift toward expanding your business according to scale.

And that will be the subject of another article!

Ricky Sare is a writer, an entrepreneur, and a member of Tycoon Philippines editorial team. He is also the owner of Benchmark Global Management Solutions, Inc. , a BPO company located at Makati.

You may also like

Improving Customer Service in a Hardware and Construction Supply Business

In the increasingly competitive business-to-customer (B2C) and…

The Evolution of Social Media Platforms: A Comprehensive Analysis

Social media has become a significant aspect of modern life, connecting…

8 Mistakes in Web Design That Your Business Should Avoid

While it’s essential for businesses to build a website, it shouldn’t be done…

Short Selling Stocks: Should You Do It?

Short selling is kind of like placing bets on sports. Bettors are similar to…

10 Reasons Businesses Need Integrated Digital Marketing Services

There is no argument that the Internet has become the axle that spins the…

9 Proven Strategies for Driving More Sales on the Philippines’ Top Online Marketplaces

You’ve set up your store. You’ve posted incredible products that help your…

Small Business Ideas in the Philippines: A Step-by-Step Guide

Starting a small business in the Philippines can be an exciting and fulfilling venture. There are several types of business structures to consider, including sole proprietorship , partnership , and corporation . It is important to conduct thorough research and understand the registration process, as well as the costs and requirements involved. Steps to register a business include searching and registering a business name , notarizing documents , applying for company incorporation with the Securities and Exchange Commission , and registering with other government agencies such as the Bureau of Internal Revenue . Additionally, obtaining necessary permits and clearances, as well as creating a solid business plan and online presence, are essential for success. It is important to avoid common mistakes , such as skipping the planning phase or paying bills late . By following these steps and tips, aspiring entrepreneurs can increase their chances of starting a successful small business in the Philippines .

Key Takeaways:

Get access to 1000 Business Ideas and How to Start Them!

Types of Business Structures in the Philippines

Sole proprietorship, partnership.

A partnership is a business structure in which two or more individuals share ownership and management responsibilities. There are two types of partnerships in the Philippines : general partnership and limited partnership. In a general partnership, all partners have unlimited liability for the business’ debts and obligations. In a limited partnership, there is at least one general partner with unlimited liability and one or more limited partners with liability limited to their capital contributions.

Corporation

Choosing the right business structure is an important decision that will have long-term implications for your business. It is recommended to consult with a legal professional or business advisor to fully understand the legal and financial implications of each structure before making a decision.

Researching and Registering a Business Name

Before officially registering your business, it is important to conduct thorough research to ensure that your chosen business name is unique and compliant with Philippine business laws . This step is crucial as it helps protect your brand identity and avoids potential legal issues down the line.

If your name is not already taken, the next step is to register it with the appropriate government agency. In the Philippines , the agency responsible for business name registration is the Department of Trade and Industry (DTI). You will need to prepare the necessary documents, such as a completed application form, valid identification, and payment of registration fees.

Once your application is submitted, the DTI will review it and, if approved, issue you a Certificate of Business Name Registration. This certificate serves as proof that your business name is officially registered and can be used for various legal purposes, such as opening bank accounts or applying for business permits.

Remember, choosing a unique and memorable business name is crucial for establishing your brand identity. Conducting thorough research and complying with Philippine business laws will help ensure that your business name is legally protected and sets you up for success.

Notarizing Documents and Legal Requirements

Once you have registered your business name, it is crucial to notarize important documents and obtain the necessary permits and licenses to legally operate in the Philippines . Notarizing documents provides legal validity and authenticity, ensuring that your business dealings are recognized by the government and other entities.

When notarizing documents , it is important to comply with the requirements set by the Philippine law. Some common documents that require notarization include contracts, agreements, and affidavits. Notarization involves the presence of a notary public or lawyer who will authenticate the documents and affix their seal and signature.

To obtain the necessary permits and licenses, it is advisable to research and consult with relevant government agencies. These agencies, such as the Department of Trade and Industry and the local government units, can provide guidance on the specific requirements and procedures for your business.

By notarizing important documents and obtaining the necessary permits and licenses, small businesses in the Philippines can operate legally and ensure their compliance with government regulations. It is a crucial step towards establishing a solid foundation for your business and increasing its chances of success.

Applying for Company Incorporation with the Securities and Exchange Commission

Before starting the application, it is important to gather all the required documents, which typically include the Articles of Incorporation, Treasurer’s Affidavit, Bylaws, and other supporting documents. The Articles of Incorporation will outline important information about your company, including its name, principal office address, purpose, authorized capital stock, and the names and addresses of the incorporators and directors.

Once you have prepared the necessary documents, you can submit your application to the Securities and Exchange Commission. The processing time may vary, but it usually takes around 3 to 5 working days. During this time, the SEC will review your application and ensure that all the requirements are met. If approved, you will receive your Certificate of Incorporation, officially confirming the registration of your company.

After obtaining the Certificate of Incorporation, it is important to fulfill other post-incorporation requirements, such as obtaining a Tax Identification Number from the Bureau of Internal Revenue and securing other necessary permits and licenses from relevant government agencies. These additional steps will depend on the nature of your business and its specific requirements.

EASE OF DOING BUSINESS ACT

By following the necessary steps and requirements, you can successfully incorporate your company with the Securities and Exchange Commission and establish a solid foundation for your business in the Philippines . Remember to seek advice from professionals or consult relevant government agencies to ensure compliance with the latest regulations and guidelines.

Registering with Government Agencies

Registering with government agencies, particularly the Bureau of Internal Revenue, is essential to ensure compliance with tax regulations and avoid legal issues down the line. The Bureau of Internal Revenue (BIR) is the primary tax authority in the Philippines , responsible for collecting taxes and enforcing tax laws. As a small business owner, understanding and fulfilling your tax obligations is crucial for maintaining the legality and sustainability of your venture.

Once you have obtained your TIN, you will be required to report and remit your taxes regularly. This includes filing tax returns, paying income taxes, and submitting other required documents and reports to the Bureau of Internal Revenue. Failure to comply with tax regulations can result in penalties, fines, or legal complications, so it is crucial to stay up-to-date with your tax obligations as a small business owner.

By fully understanding and fulfilling your tax obligations, you can ensure the smooth operation of your small business in the Philippines and avoid any potential issues with government agencies.

Obtaining Necessary Permits and Clearances

When setting up your business, you may need to obtain permits and clearances for zoning compliance, building and construction permits, environmental clearances, health and sanitation permits, and fire safety clearances. These requirements aim to ensure that businesses are operating in accordance with local regulations and do not pose any risks to public health and safety.

It’s important to note that the table above provides a general overview, and the specific permits needed may vary depending on the exact location and nature of your business. To ensure accuracy and efficiency, I recommend contacting the relevant local government units or regulatory agencies in your area to confirm the requirements and process for obtaining permits and clearances.

Creating a Solid Business Plan and Online Presence

A well-crafted business plan and a strong online presence are vital components for the success of your small business in the Philippines . A business plan serves as a roadmap, outlining your goals, strategies, and financial projections. It provides clarity and direction, helping you make informed decisions and navigate potential challenges. When creating your business plan, consider factors such as market research, target audience, competition analysis, marketing and sales strategies, and financial projections. This comprehensive document will not only guide your business operations but also attract investors and lenders.

Social Media Marketing for Philippine Startups

Social media marketing plays a significant role in promoting Philippine startups. By leveraging platforms such as Facebook and Instagram, businesses can reach a wide audience and engage with potential customers. Creating compelling content, running targeted ad campaigns, and collaborating with influencers are effective strategies for increasing brand visibility and driving customer engagement. Consistency and authenticity are key when it comes to social media marketing. Interact with your audience, respond to their inquiries promptly, and actively participate in relevant industry discussions. By building a strong online presence, you can establish credibility and foster customer loyalty.

In addition to social media, consider other digital marketing tactics such as search engine marketing (SEM), email marketing, and content marketing. These strategies can help drive traffic to your website, generate leads, and convert prospects into paying customers. It’s important to regularly monitor and analyze the performance of your online marketing efforts, adjusting your strategies as needed to optimize results.

By creating a solid business plan and establishing a strong online presence, you are setting your small business up for success in the Philippines . These strategic activities will not only help you attract customers and grow your business but also position you as a credible and competitive player in the market.

Small Business Financing and Funding Options

Financing your small business in the Philippines can be challenging, but there are a variety of funding options available to support your entrepreneurial journey. Whether you are looking to start a new business or expand an existing one, securing the necessary funds is crucial for success.

Government Programs: The Philippine government also offers various programs to support small businesses. These programs provide lower interest rates and favorable terms, making them an attractive option. However, they often have stringent qualification requirements and limited availability, so it’s important to thoroughly research and understand the criteria before applying.

Alternative Funding: If traditional financing methods and government programs are not suitable for your business, you may consider alternative funding sources. These can include angel investors, venture capitalists, crowdfunding platforms, or even personal savings. Alternative funding options provide quick access to funds and often have less stringent requirements. However, they may come with higher interest rates and shorter repayment terms.

Summing it Up

Market research and analysis.

Market research and analysis are essential steps in understanding your target audience, identifying market opportunities, and staying ahead of the competition in the Philippines . As a small business owner, it is crucial to gather relevant data and insights to make informed decisions and develop effective strategies.

One of the key aspects of market research is understanding your target audience. By conducting thorough research, you can gain insights into their needs, preferences, and purchasing behaviors. This information can help you tailor your products or services to meet their specific demands, ensuring better customer satisfaction and loyalty.

To conduct effective market research and analysis, you can utilize various techniques such as surveys, focus groups, competitor analysis, and social media monitoring. By combining qualitative and quantitative data, you can gain a comprehensive understanding of the market and make data-driven decisions.

“Market research can provide valuable insights that can shape your business strategies and improve your chances of success in the competitive landscape of the Philippines .” – John Doe, Market Research Expert

Nurturing Filipino Business Culture

One key aspect of Filipino business culture is the emphasis on personal relationships. Business transactions are often built on trust and mutual respect, which can take time to develop. Establishing strong connections with local partners, suppliers, and customers is crucial for long-term success. Taking the time to understand and appreciate Filipino customs, greetings, and communication styles can go a long way in building rapport and earning the trust of potential business partners.

Success Stories: Inspiring Small Businesses in the Philippines

“We started our small business with a mission to promote sustainable, locally sourced products. By embracing the Filipino value of bayanihan (community spirit), we were able to collaborate with local farmers and artisans, creating a network that supports our business and the community at large.” – Maria, Founder of a Sustainable Lifestyle Brand

Common Mistakes to Avoid

1. Neglecting Timely Payments: One of the common mistakes that small business owners make is paying bills late . This can lead to strained relationships with suppliers and vendors, and even legal consequences. It is crucial to manage your cash flow effectively and prioritize timely payments to maintain a good reputation and avoid unnecessary penalties.

“By failing to prepare, you are preparing to fail.” – Benjamin Franklin

Starting a small business in the Philippines is an exciting and challenging endeavor. By being aware of common mistakes and taking proactive steps to avoid them, you can increase your chances of success. Remember to prioritize timely payments, thoroughly plan your business strategy, and ensure compliance with legal and regulatory requirements. With dedication, perseverance, and a solid foundation, your small business can thrive in the dynamic Philippine business landscape.

Your Path to Small Business Success in the Philippines

Next, conducting thorough research and understanding the registration process is vital. From searching and registering a business name to notarizing documents and applying for company incorporation with the Securities and Exchange Commission, these steps are crucial in establishing a legal and credible business. It’s also important to register with other government agencies like the Bureau of Internal Revenue to fulfill tax obligations and comply with regulations.

Throughout your journey, it’s important to nurture the unique Filipino business culture. Understanding the cultural aspects and values that shape the business landscape can give you a competitive edge. You can even draw inspiration from the success stories of small businesses in the Philippines .

Q: What are the different types of business structures in the Philippines?

A: The different types of business structures in the Philippines include sole proprietorship, partnership, and corporation.

Q: How do I research and register a business name in the Philippines?

Q: what documents need to be notarized for starting a small business in the philippines, q: how do i apply for company incorporation with the securities and exchange commission in the philippines.

A: To apply for company incorporation with the Securities and Exchange Commission in the Philippines , you need to submit the required documents, pay the fees, and follow the application process.

Q: What government agencies do I need to register with for starting a small business in the Philippines?

Q: how do i obtain necessary permits and clearances for starting a small business in the philippines, q: why is creating a solid business plan and online presence important for philippine startups.

A: Creating a solid business plan and establishing an online presence are important for Philippine startups to outline their goals and strategies and reach a wider audience.

Q: What financing and funding options are available for small businesses in the Philippines?

Q: why is market research and analysis important for small businesses in the philippines, q: how can understanding filipino business culture contribute to small business success in the philippines.

A: Understanding and nurturing Filipino business culture can contribute to small business success in the Philippines by building strong relationships, adapting to cultural norms, and leveraging local values.

Q: What are some common mistakes to avoid when starting a small business in the Philippines?

Q: how can i increase my chances of small business success in the philippines.

Table of contents

Sun, sand, and startups: your guide to starting a business in the philippines.

Have questions on formation, banking and taxes?

Schedule a FREE consultation with a formation and compliance expert today 📞

Starting a business in the Philippines can be as exciting as a day at the beach, where sun, sand, and startups meet to create a vibrant entrepreneurial landscape. This tropical paradise offers not only natural beauty but also a cost-friendly labor market abundant in skilled and qualified professionals. With access to a larger global market and excellent connectivity with neighboring nations, the Philippines is an enticing destination for budding entrepreneurs. 

Before you can get started, there are some essential steps and strategies you’ll need to know, such as navigating the local regulations to finding the right location and financing options. Read on to learn how to start a business in the Philippines.

Can Foreigners Start a Business in the Philippines?

Yes, foreigners can start a business in the Philippines, and the country welcomes foreign investors and entrepreneurs. However, there are certain restrictions and guidelines to follow that have been discussed below:

Business Ownership: Foreigners can own up to 100% of certain types of businesses in the Philippines. These are typically export-oriented or those involving advanced technology and high capitalization. However, some industries may require a Filipino partner or limited equity participation by foreigners.

Investment Options: To start a business, foreign investors can choose between different business structures, including sole proprietorships, partnerships, corporations, or branches of existing foreign corporations. Each has its requirements and implications for ownership and liability.

Registration and Permits: Registering a business in the Philippines involves several steps. You’ll need to register your business name, obtain necessary permits from local government units, and secure licenses from relevant government agencies. The Philippines’ Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC) are crucial authorities for business registration.

Employment of Foreigners: If you plan to hire foreign employees, you’ll need to secure the appropriate work permits and visas for them.

Why Should You Consider Starting a Business in the Philippines?

If you’re seriously contemplating starting a business in the Philippines there are some major advantages. But there are also some disadvantages you’ll want to know about before making a decision. 

Cost-Friendly Labor Market: The Philippines offers a skilled and educated workforce at competitive labor costs. This can be a significant advantage for businesses looking to cut operational expenses.

Access to a Larger Global Market: With its strategic location in Southeast Asia, the Philippines provides easy access to a vast regional and global market. It’s a gateway for businesses looking to expand into Asia.

Strong Economic Growth: The Philippine economy has been steadily growing, offering a stable environment for businesses. The government actively promotes foreign investments through incentives and support programs.

Cultural Compatibility: English is widely spoken and is the second official language of the country. This linguistic compatibility makes communication with the local workforce easier for foreign businesses.

Disadvantages

Bureaucracy and Red Tape: Dealing with government regulations and bureaucratic processes can sometimes be time-consuming and complex, especially for newcomers.

Infrastructure Challenges: While major cities like Manila offer good infrastructure, rural areas may have limited access to reliable utilities and transportation.

Competition: Depending on your industry, you may face stiff competition from both local and international businesses.

Cultural Differences: Understanding and adapting to the local culture and business etiquette can be challenging for foreigners.

11 Steps to Start a Business in the Philippines

There are a few steps that you need to follow to start a business in the Philippines. Each of these stages plays a critical role in setting up your business for success:

1. Research and Planning

The first step in starting any successful business venture is to do your homework. Begin by identifying your business idea or concept. What product or service will you offer? Next, conduct thorough market research specific to the Philippines. This research will help you assess the demand and viability of your business in the local market. Understanding your potential customers and competitors is crucial at this stage.

2. Develop a Business Plan 

Once you have a clear vision of your business, it’s time to put it all down in a comprehensive business plan. This plan should be detailed and cover various aspects of your business, including your target market, competition analysis, marketing strategies, financial projections, and operational plan. A well-structured business plan not only serves as a roadmap for your business but also helps in securing financing if needed.

3. Pick the Right Location

Location matters in business, and finding the right one is essential. Before deciding on a location, you’ll need to take into account factors like proximity, visibility, and accessibility to your target audience. You’ll need to find a suitable location for your business operations and make sure to secure any necessary leasing agreements or permits required by local authorities. This step ensures that your business has a physical presence in a strategic place.

4. Secure Funding

To make your business dreams a reality, you’ll need to find the cash to make it happen. You can either dip into your personal savings if you’ve got enough stashed away, or you could explore loans, grants, or even investors to fund your venture. Each of these options has its pros and cons, so it’s you’ll want to carefully consider which one suits your business needs and financial targets.

5. Register Your Business

Registering your business is a vital legal requirement that solidifies your venture’s legitimacy. Depending on your chosen business structure , there are specific registration processes in the Philippines. Let’s explore these options:

Sole Proprietorship

A sole proprietorship is the simplest form of business structure in the Philippines. In this setup, you are the sole owner and responsible for all business decisions. Registering a sole proprietorship involves securing a Department of Trade and Industry (DTI) certificate, which legally allows you to operate your business under your chosen business name.

Partnership

If you’re teaming up with others to run your business, a partnership structure might be the way to go. Partnerships can either be general or limited, each with its own set of rules and responsibilities. Registering a partnership requires drafting a notarized partnership agreement and securing necessary permits from local government units.

Corporation

For a more complex and scalable business, forming a corporation might be the right choice. A corporation is a separate legal entity from its owners, offering benefits like limited liability. Registering a corporation involves filing articles of incorporation with the Securities and Exchange Commission (SEC) and complying with various regulatory requirements.

6. Obtain Necessary Permits and Licenses

To operate legally, your business will require permits and licenses. These are typically obtained from local government units (LGUs) and may include Barangay (village) clearance, depending on your business type. Various regulatory bodies may also be involved, depending on the nature of your business. Ensuring that you have all the necessary permits and licenses is crucial to avoid any legal complications down the road.

7. Tax Registration

Ensuring tax compliance is a fundamental responsibility of any business, regardless of its size or industry. Navigating the intricacies of the Indian tax system , which is both complex and subject to frequent changes, requires staying informed about the latest regulations. Here, we highlight some of the essential taxes that businesses in the Phillippines should know about:

Value Added Tax (VAT): VAT is a consumption tax that applies to most goods and services sold in India. The applicable VAT rate varies depending on the specific type of goods or services being sold.

Income Tax: Income tax is levied on the profits earned by both businesses and individuals. The rate of income tax is determined by the amount of income generated.

Employee Withholding Taxes: Employers have a responsibility to withhold taxes from their employees’ salaries. The amount of tax to be withheld is contingent upon the employee’s income level and filing status.

Goods and Services Tax (GST): GST is a relatively new tax system that has replaced VAT and other indirect taxes in India. It operates on a destination-based principle, which means that the tax is paid in the location where the goods or services are consumed.

8. Open a Bank Account

It’s a wise move to establish a dedicated business bank account . This ensures that your personal and business finances remain separate, simplifying financial management. Having a distinct business account also enhances your business’s professionalism and streamlines financial record-keeping.

9. Set Up Your Office

Creating a functional workspace is vital for your business’s daily operations. This involves acquiring the necessary equipment, facilities, and utilities to support your work. Whether it’s a physical office or a home-based setup, you’ll want a workspace conducive to productivity.

10. Hire Your Staff

Depending on the size and nature of your business, you may need to hire employees. It’s essential to understand the labor laws of the Philippines to ensure compliance. This includes providing mandatory benefits and registering employees with the Social Security System (SSS), PhilHealth, and Pag-IBIG. Complying with labor regulations ensures the well-being of your employees and keeps your business on the right side of the law.

11. Promote Your Business

Promoting your business effectively is crucial to getting the word out about your products and services. But how do you go about it? Fortunately, there are various avenues to explore. Alongside traditional marketing methods, the emergence of social media has opened up a wealth of new opportunities for building brand awareness.

Your Path to Success 

As you begin this journey with the allure of the Philippines’ beauty, remember that building a successful business here takes planning, following the rules, and managing money well. 

Now, if you’re looking for expert assistance to streamline your business formation, compliance, and bookkeeping needs, consider doola . With doola’s specialized services, you can simplify your journey as we offer comprehensive support for business formation, helping you secure permits and licenses hassle-free. 

Moreover, our expertise in tax compliance ensures you meet all tax obligations, keeping your business on the right side of the law. And when it comes to bookkeeping, doola’s professionals can help you maintain accurate financial records, ensuring the financial health of your business.

Do I need to have a physical office in the Philippines to start a business?

While a physical office isn’t mandatory, you must have a registered business address in the Philippines for legal purposes.

What are the tax obligations for businesses in the Philippines?

Tax obligations include Value Added Tax (VAT), income tax, and other taxes depending on your business type. Complying with them will keep you legally safe.

Do I need to hire local employees when starting a business in the Philippines?

Hiring local employees may be required depending on your business type or size. Compliance with labor laws and benefits is necessary if you hire locally.

How can I protect my intellectual property rights in the Philippines?

To protect intellectual property, register your trademarks, patents, and copyrights with the Intellectual Property Office of the Philippines (IPOPHL).

What are the typical challenges faced by new businesses in the Philippines?

Challenges include navigating bureaucracy and competition, finding the right location, and understanding local market dynamics. Thorough research and planning are key to overcoming these hurdles.

Free e-book

How to form a US LLC in 5 minutes

A beginner-friendly guide on the basics of LLCs. Learn about formation, banking, and taxes.

Schedule a FREE consultation with a US CPA today 📞

Keep reading

Start your dream business and keep it 100% compliant

Turn your dream idea into your dream business.

A beginner-friendly guide on the basics of LLCs. Learn about formation, banking, and taxes. Get ready to turn your dream idea into your dream US business.

Cookie consent

By continuing to browse this website, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Learn more.

Are you ready to start a small business in the Philippines?

Starting a small business in the Philippines is becoming an accessible venture for many Filipinos.

Some entrepreneurs start young with barely any capital at their disposal, using their skills and talents to produce goods or render services, and marketing their business on social media. Others, meanwhile, find that after years of employment, they now have enough savings to invest in an idea that has been brewing in their heads.

That being said, not all businesses guarantee success. There are a number of different reasons for a small business to falter several months after its inception.

To avoid immediate failure, it will be helpful for any budding business owner to know how to start a small business the right way.

The three types of business organizations

First off, let’s go through the basics of starting a business which is identifying your enterprise. Here are the three ways to structure a business:

• Sole proprietorship - It is the easiest type of business organization you can set up in the Philippines. Being the sole proprietor, the business becomes an extension of yourself, including your net worth. This makes it riskier compared to the other types of business organizations, because sole ownership means you’re responsible for managing all assets and liabilities. Small businesses often follow this business model.
• Partnership - It refers to the joint collaboration between two or more parties, wherein they share resources and various assets in growing the business. This means that liabilities and revenue are shared and distributed accordingly as well.
• Corporation - It is often the type of business organization for larger companies, as it allows a group of individuals to operate as a single entity and participate as shareholders, effectively providing the business certain tax benefits.

Three most common types of businesses

As the demand for products and services continue to grow, more and more small businesses are propping up. You can grow your finances by starting a business venture and being your own boss. Here are the three main types of businesses to consider:

• Service - These businesses involve the exchange of work at an agreed upon rate between the business and a client. Examples include barber shops and laundry.
• Merchandising - This involves the buying and selling of products, wherein the business sources the products at wholesale costs and delivers them at retail prices. Examples include groceries, sari-sari stores, and online stores.
• Manufacturing - This involves the production of certain goods through business sourcing and processing raw supplies, materials, or ingredients to produce the goods for sale. A few examples include food and beverages, such as bread, snacks, milk, and soda; and a wide range of goods, like soaps, shampoo, and other personal care items.

It’s wise to study and consider which type of goods or services can be most profitable. Taking out a car loan to start a transportation or courier service business or applying for a home loan to provide rental space are possible options for a small business with long-term returns.

When starting a small business in the Philippines, it is important for any business owner to be financially educated. Knowing how to manage debt, for instance, can impact the survival and growth of a business.

Learn how to manage your money with resources like Metrobank’s Money Basics and Moneybility . so you’re equipped to start a business.

What are the steps in starting a small business?

A business often starts with the seed of an idea. However, for this business idea to be successful, you have to nurture and take care of this seed so it can grow and bear fruits.

Here are five main steps on how to start a small business in the Philippines:

• Registration
• Operations and Marketing

Planning the business

Once you have an idea for a small business, validate its potential for growth by conducting a business study. This includes three main components:

• Market study - An analysis on demand for the business and its target audience
• Marketing study - A comprehensive look on the strategies to be implemented in promoting and selling the product or service
• Feasibility study - A thesis study on the viability or sustainability of the business’ performance

While these may seem too much for a small business, carefully entertaining all possible scenarios is practicing due diligence as an entrepreneur.

After completing these project studies and evaluating the results, gauge if you should proceed with the business. If you decide to go for it, prepare a business plan, which is a compilation of different documents detailing everything about the business: its structure, goals, and how it works.

A business plan can include any of the following sections:

Executive summary - A summary of the business.

• Business overview External analysis - An overview of the business’ industry. Internal analysis - An overview of the business as an organization. SWOT analysis - A comprehensive look at the business and its strengths, weaknesses, opportunities, and threats.
• Business goals and objectives – This answers what the organization wants to achieve. It can include the business and the organization’s mission and vision.
• Business model and framework – This provides insight on how the business operates, including its systems and processes.
• Summary of products and/or services – This defines the value of the business through what it offers.
• Marketing models - These are the plans of the business related to reaching customers, promoting the business and its brand, and selling its goods and services.
• Financial projections – These detail the pertinent cash flow necessary to keep the business operating.

When done correctly and accurately, the business plan serves to legitimize your business into a document that shows you there is a valid potential for success. Small businesses are no exception, as most great companies today once started out as humble ventures.

Having all of these can also give you access to credit. Lenders such as banks are more likely to lend you money if they see that your business idea truly has the potential to be successful.

Funding your business

The viability that the early project study and business plan presents should allow you to proceed with funding. Here are the expenses you have to prepare for before starting your small business:

• Capital Expenses – These include the cost and value of equipment and other assets
• Pre-operational Expenses – These include the miscellaneous expenses to get the ball rolling. These cover the usual transactional costs like deposits, licensing and registrations fees, marketing budget, etc.
• Operational Expenses (or Working Capital) – These include the costs necessary to keep the business running for at least six months, or at least until revenue becomes self-generating.

You might think that it’s risky to borrow money to invest in a business. However, it’s even more risky to put your life’s savings on the line for a business idea that might fail. Furthermore, a lender scrutinizing your business idea before they give you access to credit already acts like a safety net to protect you from pursuing a business that might not work out.

Consider applying for Metrobank’s personal loans and business loans to help fund your business idea.

Naming your business

Once funding is good to go, it’s time to decide on the name of your business. It helps to think ahead, as your business name can eventually transform into a brand that represents what the business and the organization is all about.

Business registration

With all the necessary information complete, you can make your small business official by registering it. Here is a list of the necessary business documents:

• SEC Articles of Incorporation
• DTI Registration
• BIR Clearance
• Barangay Clearance
• Mayor’s Permit

Even if you run an online shop and no physical store exists, these documents serve to legitimize your small business.

Operations and marketing

The last step to starting a small business is fulfilling operations and implementing your marketing strategies.

Going digital has become more beneficial for small businesses. Utilize the available and relevant social media platforms to market your small business and reach your target audience.

Constantly review your processes and seek ways to improve methods for better productivity and delivery. There are innovative solutions for nearly every business process, so if you have the capacity to upgrade, better invest in modern technology and equipment.

Are you ready to start a small business?

Don’t let the name fool you. Starting a small business is no small feat. Like any investment, a business involves taking a lot of risks. Success is not guaranteed. But by doing your due diligence and really scrutinizing the viability of your business idea, you can raise your chances of success.

Help & Support

How may we help you.

• What valid IDs can I present?

• No money was dispensed when I tried to withdraw
• What should I do if I forgot my username or password?
• How do I open an account?
• I lost my card. What do I do?
• What is card alias?
• What investment options are available to me?
• How do I apply for a home loan?

• Semua Berita

5 New Tips How to Start a Small Business in the Philippines

How to start a small business in the Philippines , or how to start a business in the Philippines with small capital? Starting a tiny low business within the Philippines is becoming an accessible venture for several Filipinos, irrespective of age.

Some entrepreneurs start young with barely any capital at their disposal, using their skills and abilities to supply goods or render services, and marketing their business on social media. Others, meanwhile, find that after years of employment, they now have enough savings to speculate in a plan that has been brewing in their heads.

That being said, not all businesses guarantee success. There are a variety of various reasons for a little business to falter several months after its inception. To avoid immediate failure, it’ll be helpful for any budding business owner to grasp the way to start atiny low business the proper way.

The Three Types of Business Organisations

First off, let’s undergo the fundamentals of starting a business in the Philippines; that is to  identify your enterprise. Here are the 3 ways to structure a business:

Sole Proprietorship

It is the simplest variety of enterprise you’ll find within the Philippines. Being the only proprietor, the business becomes an extension of yourself, including your net worth.

Your Selling Stock is Messing Up? You Need Help!

Ginee Omnichannel allow you to automatically sync every stock from all of your online stores. It’s faster way to helps you profit!

This makes it riskier compared to the opposite forms of business organisations, because sole ownership means you’re accountable for managing all assets and liabilities. Small businesses often follow this business model.

Partnership

It refers to the joint collaboration between two or more parties, wherein they share resources and various assets in growing the business. This suggests that liabilities and revenue are shared and distributed accordingly likewise.

Corporation

It is often the sort of business organisation for larger companies, because it allows a bunch of people to control as one entity and participate as shareholders, effectively providing the business certain tax benefits. Corporations are often further defined as S corps, C corps, LLCs, and non-profit corporations.

Three Most Common Types of Small Businesses

As the demand for products and services still grows, more and more small businesses are shoring. In fact, over 99% of registered businesses within the Philippines are micro, small, and medium enterprises.

You can grow your finances by starting a business venture and being your own boss. Here are the three main styles of businesses to consider:

These businesses involve the exchange of labour, or the performance of an action, at a set rate between the business and a client. Examples include banks, barber shops, and digital marketing agencies. This also means you can try how to start a small food business in the Philippines even in your own home!

Read also: 5 Homemade Food Business Ideas You Can Start Immediately

Merchandising

This involves the buying and selling of products, wherein the business sources the products at wholesale costs and delivers them at retail prices. Examples include groceries and malls, sari-sari stores, and online stores.

Read also: Fastest Growing Online Business In The Philippines

Manufacturing

This involves the assembly of certain goods through business sourcing and processing raw supplies, materials, or ingredients to supply the products available. Some examples include food and beverages, like bread, snacks, milk, and soda; and a good range of products, like soaps, shampoo, and other trending items.

A small business may be any of those three, and given the impact of the pandemic on the socioeconomic welfare of the many Filipinos, it’ll be informed study and consider which sort of products or services may be most profitable. 

Putting off a auto loan to start out a transportation or courier service business or applying for an equity credit line to produce rental space are possible options for attiny low business with long-term returns.

Do You Want to Manage Multiple Marketplace Just by Single Person?

Of course you can! You can handle multiple stores from all marketplace just by single dashboard. Cut your Business’s cost, and Boost your Efficiency at the same time.

When starting a little business within the Philippines during these challenging times or starting a business in the Philppines for foreigners, it’s important for any business owner to be financially educated. Like most investments, there are risks involved in running a business. Knowing the way to manage debt, as an example, can play an impactful role within the growth and survival of a business.

Learn how to manage your money with resources from Metrobank’s Money Basics to assist make sure that you’re financially equipped to begin a business. Additionally, be at liberty to send a message or contact Metrobank today for any questions on the way to apply for a loan.

How to Start a Small Business in the Philippines

How to start a small business in the Philippines ? A business often starts with the seed of a concept. However, for this business idea to achieve success, you have got to nurture and make sure of this seed so it can grow and bear fruits. 

How to start a business in the Philippines 2022 ? Here are some main steps on the way to start a little business within the Philippines:

Planning the Business

How to start a business in the Philippines ? While these could appear an excessive amount of for attiny low business, carefully entertaining all possible scenarios is practising due diligence as an entrepreneur.

After completing these project studies and evaluating the results, you’ll be able to proceed with preparing a business plan. A business plan may be a compilation of various documents detailing everything about the business: its structure, goals, and the way it works.

Even if you want to apply the way how to start a small business at home, you also need to do the research, including names of your brand, brand niche, and more. 

Funding Your Business

Next step of how to start small online business in the Philippines is funding your business. An important note to contemplate when starting atiny low business is to avoid putting yourself in debt to speculate, especially after you don’t seem to be liquid enough to pay back a loan just in case the unfortunate happens and therefore the business doesn’t determine.

Naming Your Business

How to make business in Philippines and how much money do you need to start a small business in the Philippines? Actually, it all depends on what kind of business you intend to do. Okay, once funding is nice to travel, it’s time to make your mind up on the name of your business. It helps to think ahead, as your business name can eventually transform into a brand that represents what the business and also the organisation is all about.

As consumers don’t want to affiliate themselves with businesses of ill reputation, choosing a brand for your small business can spell the difference between success and failure.

Business Registration

With all the requirements to start a small business in the Philippines or the required information complete, you’ll make your small business official by registering it. Whether or not you run a web shop and no physical store exists, these documents serve to legitimise your small business.

Operations and Marketing

The last step to confirm you’re equipped to begin atiny low business is fulfilling operations and implementing your marketing strategies.

Going digital may be a rapidly growing trend in recent years, and with the quarantine restrictions set in situ because of the pandemic, it’s become more beneficial for little businesses. Utilise the available and relevant social media platforms to plug your small business and reach your target market.

Read also: What is a Good Online Business to Start in the Philippines ?

Starting a small business in the Philippines, irrespective of size or organisation structure, offers a chance to find out and grow as a person. But it’s always noteworthy to grasp that there’s a fine line separating business success from bankruptcy. To secure your future, work towards building a savings fund first and clear your books of debt.

Join Ginee Philippines!

If you wish to start a new small buisness in the Philippines, you can use Ginee Philippines to help you manage your online stores registered in marketplace or ecommerce easily. You can manage your products, stocks, orders, promotions, and more in only a single dashboard. Increase your online sales from now with Ginee Omnichannel !

Upload Products to Shopee and Lazada Automatically ! How?

Ginee product management allow you upload products to all of your online stores from all marketplace just once! Save time, save cost, save energy, join Ginee Now!

• How to Increase Shopify Website Speed, Note 8 Checklists! 1
• Want to Customize Theme? Here How to Edit Website in Shopify 2
• Here 4 Ways How to Add Privacy Policy to Shopify Store 3
• Step by Step How to Add Sub Menu in Shopify Complete!  4
• Here Is the Ideal Image Size for Debut Theme Shopify Store 5
• How to Rename Shopify Store and 3 Reasons You Must Do It 6
• 5 Useful Tips How to Drive Traffic to Your Shopify Website? 7
• 6 Steps How to Make a Product Free Shipping on Shopify 8
• How to Design a Shopify Website, Make Buyers Interested! 9
• Update! 3 Ways How to Edit Shopify Coming Soon Page 10

Marketplace News

Marketplace Research

Selling Tips

Ginee Portal

Follow and Share

8 Steps to Start a Small Business in the Philippines

The Republic of the Philippines, located in Southeast Asia, is one of the booming business grounds that provides local and foreign business investors to step forward and invest in the zone.

Compared to the other zones, it has established itself as a prosperous industrialized nation. Although the economy depends mainly on agriculture, other industries have also found a suitable space to grow.

Be it an established business or even a budding start-up that you hold; the Philippines is a perfect gateway to give a kick-start!

This blog outlines the steps required to incorporate a small business in the Philippines. If you are looking forward to setting up your business in the Philippines , it is a must-read for you!

However, before we deep dive, let’s glance at the highlights of the economy.

Encouraging Features of the Philippines

A few of the provoking features of the nation are highlighted below:

• Ranked as the 34th largest economy
• There has been a continuous spike in the GDP
• A wide range of business industries
• Multiple times of business structures
• Multi-currency trading

Small Business in the Philippines

The economic upsurge has made the Philippines a flourishing nation during the past few years. A few of the benefits of starting a small business in the Philippines include:

• Domestic and regional market opportunities
• Favourable economic conditions
• English is the official language

The government has taken numerous initiatives to boost the MSMEs by building a development plan that aims and address the core challenges for further development.

A few of the initiatives taken by the government include:

• Establishment of Negosyo centres to improve the business environment
• ASENCO is a government aimed at creating an SME-friendly environment
• The implementation of the Shared Service Facility (SSF) to promote skill, tools and knowledge among the different business entities.

How to Start a Small Business in the Philippines?

Starting a small business in the Philippines requires the below-mentioned steps to be followed accordingly:

Figure out a list of business ideas

Initially, it would help if you listed a few business ideas in your mind. Your business investor needs to get a clear picture regarding the business that one is planning to start.

Conduct a project study

In the next move, you need to proceed ahead with the project study. But, first, a market study needs to be done to determine the viability of the options.

Draft a business plan

A business plan consists of an executive summary, SWOT analysis, goals and objectives, framework, summary etc.

This will help you create a clear roadmap and move on with the respective steps accordingly.

Highlight funding sources

If we are fully confident about our business plan, the next step would be to acquire funding from various sources.

Finalize a business structure

The ground of the Philippines allows business investors to choose from a wide variety of business structures to proceed with.

It would help to finalise the business entity based on the available capital and the number of shareholders looking forward to investing in your business.

Finalize a business name

After deciding on the business form, you need to finalize the business trade name. The selected business name should represent the business activities. Also, it would help if you did market research to understand the trade names of the competitors available in the market.

Submit the relevant documents

Handover the respective set of documents to your business advisor so that the same can be submitted to the government authorities and separate approvals can be obtained easily.

Register the business

After obtaining the respective approvals from the relevant government authorities, get the certificate of incorporation. After fetching the same, the business activities can be commenced.

So, you have an overall idea about the small business set-up in the Philippines.

Now, the incorporation process turns out to be easier if you do have a helping hand by your side. At Business Setup Worldwide, we assist business minds in setting up their business at ease. We are a global network of business consultants providing business incorporation and support services in the Philippines.

For more information on the same, feel free to speak with our experts. Contact us today- we’d be glad to assist!

What are the best business industries in the Philippines?

A few of the best business segments in the Philippines include: 

• Manufacturing
• Real Estate
• Construction
• Wholesale and Retail Trading 
• Food Service Activities

What are the best business structures in the Philippines?

• Sole proprietorship
• Partnerships
• Corporations

Published on: 17 Jan 2019

Country Specific Blogs

Official Social Handles

•   Instagram
•   Pinterest

Business Setup Worldwide Services FZE Office No.1502, Level 15, Dubai World Trade Centre, Sheikh Rashid Tower, Sheikh Zayed Road - Dubai

+971 45490426 [email protected]

© 2007-   Business Setup Worldwide Services FZE. All rights reserved.

• Toggle Accessibility Statement
• Skip to Main Content

Start and Grow Your Business

Start your business.

The Micro, Small, and Medium Enterprise Development (MSMED) Plan was developed in consultation with national, regional, and provincial stakeholders. A participatory approach was adopted involving a series of stakeholder consultation, validation, and recalibration workshops participated in by representatives from the private sector, local government units (LGUs), national government agencies (NGAs), the academe, and civil society.

The MSMED Plan has four major outcome or result portfolios, namely Business Environment (BE), Access to Finance (A2F), Access to Markets (A2M), and Productivity and Efficiency (P&E). It will also take into consideration global themes and cross-cutting issues related to gender, climate change, corporate social responsibility, and migration.

Barangay Micro-Business Enterprises (BMBEs) can now register their businesses, free of charge, at the Department of Trade and Industry (DTI) through the agency’s Negosyo Centers .

Registered BMBEs can avail of government incentives that include exemption from the payment of income tax for income arising from the operation of the enterprise, exemption from the coverage of the minimum wage law, special credit window of government financing institutions that will service the needs of BMBEs, as well as technology and marketing assistance.

Under Republic Act No. 9178 or the BMBEs Act of 2002 , a BMBE is referred to as any business entity or enterprises engaged in the production, processing or manufacturing of products or commodities, including agro-processing, trading, and services whose total assets, excluding land, shall not be more than P3 million. Such assets shall include those arising from loans but not the land on which the plant and equipment are located.

The DTI issued Department Administrative Order (DAO) No. 16-01 last April 22, 2016 which provides guidelines on registering BMBEs at Negosyo Centers. Under DAO 16-01, DTI is the sole agency which shall issue a Certificate of Authority (CA) to registered BMBEs at Negosyo Centers or at DTI offices where Negosyo Centers have not been set up.

BMBEs register at the Office of the Treasurer of the city or municipality where the business is located.

Republic Act 9178 or the BMBE Act of 2002 recognizes the role of BMBEs as an essential driving force for the country’s economic development. According to the law, BMBEs are “seedbeds of Filipino entrepreneurial talents and strengthening them would increase job generation, provide livelihood and augment Filipinos’ quality of life.”

Download the BMBE Application Form .

Below are downloadable files that are useful in starting a business:

Business Ideas

DTI – PCAARRD Business Guides

Archived Business Ideas

Business Registration Requirements — Learning Center Business Registration Requirements — Manpower Agency Business Registration Requirements — Pawnshop Business Registration Requirements — Pharmacy Business Registration Requirements — Repair Shop Business Registration Requirements — Rice Dealer Business Registration Requirements — Skin Care Business Registration Requirements — Travel Agency Starting a Business – Car Wash Starting a Business – Catering Starting a Business – Fruit Shake Starting a Business – Cellphone Repair Shop Starting a Business – Botika ng Bayan Starting a Business – Cassava Production Starting a Business – Corned Beef Starting a Business – Hog Raising Starting a Business – Junkshop Business Starting a Business – Pedicab Operation Starting a Business – Poultry Raising Starting a Business – Seaweed Production

Business Information

The primary value of your business plan is to create a written outline that evaluates all aspects of the economic viability of your business venture including a description and analysis of your business prospects.

A business plan is an essential step for any prudent entrepreneur to take, regardless of the size of the business. This step is too often skipped, but we make it easy for you by providing a format to build your plan as you progress through this course.

Business plans can vary enormously. Libraries and bookstores have books devoted to business plan formats. But this is a place to start. You can then go on from here to design one that would be ideal for your particular enterprise.

Why prepare a business plan?

Your business plan is going to be useful in a number of ways. Here are some of the reasons not to skip this valuable tool:

• First and foremost, it will define and focus your objective using appropriate information and analysis.
• You can use it as a selling tool in dealing with important relationships (lenders, investors, and banks).
• You can use the plan to solicit opinions and advice from people, including those in your intended field of business, who will freely give you invaluable advice. Too often, entrepreneurs forge ahead without the benefit of input from experts who could save them a great deal of wear and tear.
• Your business plan can uncover omissions and/or weaknesses in your planning process.
• Place some reasonable limits on long-term, future projections. Long-term means over one year. Better to stick with short-term objectives and modify the plan as your business progresses. Too often, long-range planning becomes meaningless because the reality of your business can be different from your initial concept.
• Avoid optimism. In fact, to offset optimism, be extremely conservative in predicting capital requirements, timelines, sales, and profits. Few business plans correctly anticipate how much money and time will be required.
• Do not ignore spelling out what your strategies will be in the event of business adversities.
• Use simple language in explaining the issues. Make it easy to read and understand.
• Do not depend entirely on the uniqueness of your business or even a patented invention. Success comes to those who start businesses with great economics and not necessarily great inventions.

Here are some suggested topics you can tailor into your plan:

• A vision statement. This will be a concise outline of what your business purpose and goals will be.
• The people. By far the most important ingredient for your success will be yourself. Focus on how your prior experiences will be applicable to your new business. Prepare a resume of yourself and one for each person who will be involved with you in starting the business. Be factual and avoid hype. This part of your business plan will be read very carefully by those with whom you will be having relationships, including lenders, investors and vendors. Templates for preparing resumes are available in your library, bookstores and the Internet under “resumes.”
• However, you cannot be someone that you are not. If you lack the ability to perform a key function, include this in your business plan. For example, if you lack the ability to train staff, include an explanation how you will compensate for this deficiency. You could add a partner to your plan or plan to hire key people who will provide skills you do not have. Include biographies of all your intended management.
• Your business profile. Define and describe your intended business and exactly how you plan to go about it. Try to stay focused on the specialized market you intend to serve.
• Economic assessment. Provide a complete assessment of the economic environment in which your business will become a part. Explain how your business will be appropriate for the regulatory agencies and demographics with which you will be dealing. If appropriate, provide demographic studies and traffic flow data normally available from local planning departments.
• Cash flow assessment. Include a one-year cash flow that will incorporate your capital requirements. Include your assessment of what could go wrong and how you would plan to handle problems. Include your marketing plan and expansion plans and refer to helpful government websites such as the Small Business Administration.
• Write out your basic business concept.
• Gather all the data you can on the feasibility and the specifics of your business concept.
• Focus and refine your concept based on the data you have compiled.
• Outline the specifics of your business. Using a “What, where, why, how” approach might be useful.
• Put your plan into a compelling form so that it will not only give you insights and focus but, at the same time, will become a valuable tool in dealing with business relationships that will be very important to you.
• Review the sample plans we furnish and download the blank format to a MS Word document. Fill this in as you progress though the course.
• A sound business concept. The single most common mistake made by entrepreneurs is not picking the right business to begin with. The best way to learn about your prospective business is to work for someone else in that business before beginning your own. There can be a huge gap between your concept of a fine business and reality.
• Understanding your market. A good way to test your understanding is to test market your product or service before your start. You think you have a great kite that will capture the imagination of kite fliers throughout the world? Then hand-make some of them and try selling them first.
• A healthy, growing and stable industry. Remember that some of the great inventions of all time, like airplanes and cars, did not result in economic benefit for many of those who tried to exploit these great advances. For example, the cumulative earnings of all airlines since Wilber Wright flew that first plane are less than zero. (Airline losses have been greater than their profits.) Success comes to those who find businesses with great economics and not necessarily great inventions or advances to mankind.
• Capable management. Look for people who you like and admire, have good ethical values, have complementary skills and are smarter than you. Plan to hire people who have the skills that you lack. Define your unique ability and seek out others who turn your weaknesses into strengths.
• Solid financial control. You will learn later the importance of becoming qualified in accounting, computer software and cash flow management. Most entrepreneurs do not come from accounting backgrounds and must go back to school to learn these skills. Would you bet your savings in a game where you do not know how to keep score? People mistakenly do it in business all the time.
• A consistent business focus. If you think of specific products or services you will find that specialists will outperform non-specialists. Zero in on something you can do so well that you will not be subject to competing with someone with a lower price.

Department of Trade and Industry

It is necessary to register your business with this agency in order to gain the exclusive rights to use your business name. Single proprietors are required to register. Businesses can be registered at any DTI Regional or Provincial office. The directory of DTI Regional and Provincial offices may be viewed in the Contact Us page.

Securities and Exchange Commission (SEC)

Register at: Head Office: Secretariat Building, PICC Complex, Roxas Boulevard, Pasay City, 1307 Trunkline No.: (+632) 8818-0921 Email: [email protected] Website: www.sec.gov.ph  (for online registration)

Cooperative Development Authority (CDA)

All cooperatives are required to register with the CDA as per Republic Act 6938/6939.

Register at:

Local Government

All businesses, whatever the legal form, are required to secure a mayor’s permit or municipal license from the city or municipality where they are located. Permits or licenses are required to ensure that the standards are met and that business complies with the specific requirements of the business locale. Registration procedure varies across cities and municipalities. To view the list of local government units (LGUs), please visit the Department of Interior and Local Government website or https://dilg.gov.ph/ .

Every business enterprise has to register with the BIR for taxation purposes. The Bureau will furnish your business with its own tax identification number (TIN) and the authority to print receipt, invoices, and others.

Social Security System (SSS) 

An employer, or any person who uses the services of another person in business, trade, industry, or any undertaking must be registered with the SSS.

Business establishments with five or more employees are encouraged to register with the DOLE for the purpose of monitoring the firms’ compliance with labor regulations.  Registration is required for firms with 50 or more workers. The Bureau of Local Employment administers the registration of establishments.

Other Agencies

Depending on the type of products, certain companies are required by law to register with other government agencies.  The following is a list of regulatory bodies:

DTI-Intellectual Property Office

The PTTC designs and develops training curricula and corresponding instructional materials and conducts training programs for micro, small, and medium enterprises (MSMEs), business support organizations, and the government sector. It provides post-training advisory and counseling services; customized in-company/firm-level training programs and services; a venue for MSMEs and large enterprises to promote their products by marketing, renting out and maintaining exhibition facilities; and events management support.

Programs and Services: Training Programs

1. Entrepreneurship Development A. Business Start-Up Briefings

• How to Start a Business
• BEST Game Workshop
• Understanding Patents, Trademarks and Copyrights
• Financing Facilities for MSMEs
• Business Opportunities in Franchising
• Finding the Right Market for the Right Product
• Putting Your Business Online
• Exporting Made e-Z

B.    Quality and Productivity Improvement Briefings

• Corporate Culture: Filipino Values in the Workplace
• Food Safety
• Kaizen Philosophy
• 5S of Good Housekeeping
• Cleaner Production
• Waste Minimization

2.    Business Capability Building

A.    Business Management Seminars

• Strategic Marketing
• Effective Selling Skills
• Developing an Effective Purchasing Systems
• Supply Chain Management
• Business Plan Preparation
• Effective Market Research
• Developing an Effective Financial Plan
• Market Intelligence: How to Compete Effectively
• Logistics Management
• Basic Business Recording and Cash Flow Management
• How to Participate in Trade Fairs
• Dynamic Negotiation Skills
• Effective Customer Service
• Improving Business Key Accounts Selling
• Setting Up an Effective Customer Payment System for Your Business
• Customer Relations Management

B.    Export Management Seminars

• Expanding Business Through Exports
• Import Procedures and Documentation
• Product Costing and Pricing
• Understanding Customs Valuation
• Market Opportunities (Selected Countries)

C.    IT and Webpage Development Seminars

• Basic MS Word
• Basic/Advanced MS Excel
• Basic/Advanced MS Powerpoint
• Build Your Own Website
• Open Office
• Basic Webpage Development Using Dreamweaver MX
• Web Graphics Design and Production Using Adobe Photoshop
• Webpage Development: Creating Interactive Content and Animation using
• Webpage Development: Creating Interactive Content Using Macromedia Fireworks
• Webpage Development: Advanced Dreamweaver MX
• Basic Printed Advertisement Design Using Pagemaker

D. Business Language Seminars

• Japanese Business Language
• Let Your English Work at Work
• Chinese Mandarin Business Language

3.    Quality and Productivity

A.    General Seminars

• Materials Management and Inventory Control
• Production and Operations Management
• Effective Leadership Skills
• Failure Mode and Effect Analysis
• Problem-Solving and Decision-Making Techniques
• An Introduction to Ergonomics
• Supervisory Effectiveness for Improved Quality and Productivity
• How to Become an Effective Quality Management Representative
• Process Optimization through the Design of Experiments
• Time and Motion Study
• Total Quality Management
• Work Improvement Tools
• Lean Manufacturing
• Statistical Process Control

B.    International Standards Seminars

• ISO 9000 Quality Management System
• ISO 9000 Quality Management System Documentation
• Internal Quality Audit
• ISO/IEC 17025 Standard for Laboratory Competence
• ISO/IEC 17025 Laboratory Internal Audit
• ISO 1400 Environmental Management System
• ISO 1400 Documentation

C.    Food Seminars

• Current Good Manufacturing Practices (CGMP)
• Food Packaging and Labeling
• Packaging as a Marketing Tool
• Awareness on Hazard Analysis Critical Control Points (HACCP)
• Documentation of Hazard Analysis Critical Control Points
• HACCP Auditors’ Course

Training and Exhibition Facilities

• Comprises a computer lecture room with 36 desktop computers for small or big training programs on IT and webpage development and other computer-related courses;
• Comprises a seminar room that can accommodate up to 100 participants;
• Comprises an Internet Plaza with 28 desktop computers that provides free use of the Internet and MS Office tools for seminar participants, trade fair exhibitors and visitors, MSME clients and the general public, including students. A minimal fee is charged for printing and scanning services;
• The entire IAC facility has two scanners, three 4-in-1 multicopier machines (fax, phone, scanner and printer), one copier machine, two LCD projectors, two audio mixers and microphone units.
• WTO Reference Center
• Comprises selected CD-ROMs and print publications on the World Trade Organization (WTO) and other WTO-related publications by the International Trade Center (ITC).
• Comprises one desktop computer containing WTO electronic publications and databases.
• Basic Amenities for Seminar Rooms and Exhibition Halls •    General overhead lighting •    Standby generator sets for general lighting and outlets
• Basic Amenities for Halls •    Public address system •    Podium, flag and outdoor flagpoles •    Opening ceremony reception area •    Use of show window
• Specific Amenities for Rooms •    LCD Projector (with separate rental fee) or OHP and screen •    Desktop or Notebook computer (with separate rental fee) •    Audio system with microphone •    TV monitor and VHS/DVD player

GROW YOUR BUSINESS

Now that you have started your own business and want to expand it, this section provides you with information on how to do it.

Download the handbook.

The Philippine Deposit Insurance Corporation (PDIC) Guidebook on Basic Banking and Financial Transactions ( Usapang Pera: Mga Dapat Alamin ), serves as an easy-to-read reference guide and a financial literacy tool for everyone for understanding banking products and transactions. The basic principles of money, saving, banking investments, and deposit insurance are discussed to guide the Filipino in making well-informed and effective financial decisions. This Guidebook is intended to help the depositor discern differences in risks and return on various banking products.

This guidebook is a publication of the PDIC which serves as a functional memento for its 50 years of service in deposit insurance, depositor protection and its role in the maintenance of financial stability.

To download a copy of the handbook, visit the website of PDIC .

The Intellectual Property Office of the Philippines (IPOPHIL) draws its mandate from Republic Act (RA) No. 8293, otherwise known as the Intellectual Property Code of the Philippines, which took effect on 01 January 1998.

• Examine applications for grant of letters patent for inventions and registers utility models and industrial designs.
• Examine applications for the registration of marks, geographic indications, and integrated circuits.
• Register technology transfer arrangements and settle disputes involving technology transfer payments covered by the provisions of Part II, Chapter IX on Voluntary Licensing, and develop and implement strategies to promote and facilitate technology transfer.
• Promotes the use of patent information as a tool for technology development.
• Publish regularly in its own publication the patents, marks, utility models and industrial designs, issued and approved, and the technology transfer arrangements registered.
• Adjudicate inter parties and administrative cases on violations of IP rights.
• Coordinate with other government agencies and the private sector efforts to formulate and implement plans and policies to strengthen the protection of IP rights in the country.
• Information Dissemination  – Develops and organizes information dissemination programs that specifically address the level of understanding of micro, small, and medium enterprises (MSMEs) with the objective of assisting them reach the highest potential use of their IP rights
• SME Advisory Desk  – Provides a more focused advisory and technical assistance to MSMEs
• MSME Seminars
• Making Your IP Your Most Valuable Business Asset
• The Role of the IP System in Economic and Technological Development
• Catapult Your Business Growth Through Intellectual Property
• Making IP an Active Partner in Your Business
• Strategies for Commercializing and Marketing IP Assets
• Use of Information by MSMEs
• Technology Information Brokering and Matching (TIBM) for SMEs
• Envisions to contribute significantly towards upgrading the competitiveness of the country’s MSMEs through the provision of a more focused and market-oriented technology information and other services
• Promotes, establishes, and enhances business linkages between prospective users of technology, the MSMEs, and the suppliers of technology like the inventors, patent holders, technical institutions, and the like
• Facilitates a pro-active, cost-effective technology information brokering and matching services for SMEs through the following activities:
• Assessing and determining the technology information needs of the MSMEs
• Sourcing and packaging the technology information needs by the MSMEs
• Disseminating the required information to the prospective users
• Facilitating the “encounter” and negotiation between the users and the suppliers of technology
• Packaging relevant documents like contracts, business plans, or feasibility studies for the clients
• Training Opportunities – extends training opportunities for MSMEs, not only in the Philippines, but also in other countries
• Two-Tiered Fee Structure –  50-% reduction in the fees assessed by IP Philippines
• For a small entity – Any natural or juridical person whose assets amount to P20M pesos or less
• Any entity, agency, office, bureau, or unit of the Philippine government including government-owned or/ controlled corporations (GOCCs), state universities and colleges (SUCs), and government owned or government-run schools.

IP Philippines Website for more information.

The Bureau of Philippine Standards (BPS), as the National Standards Body of the Philippines, develops, promulgates, implements, and coordinates standardization activities in the Philippines as prescribed in Republic Act (RA) No. 4109 or the Standards Law and RA 7394 or the Consumer Act of the Philippines.

Programs and Services: 1. Standards Development

• Develops, reviews, and updates Philippine National Standards (PNS) for products and services
• Harmonizes PNS with international standards
• Promotes standards and standardization and conformity assessment activities
• Conducts awareness sessions, training programs, fora, exhibits, trade fairs, and seminars
• Establishes network with trade associations, industry organizations, academe, and other government agencies to facilitate communication with regards to the implementation of standards
• Conducts regular market monitoring and enforcement operations nationwide
• Acts on consumer complaints/reports
• Holds seminars for the manufacturers, importers, traders, wholesalers, distributors, and retailers on their responsibilities to the buying public
• Offers third-party testing of products through its BPS Testing Center
• Performs electrical, chemical, and mechanical testing of products primarily to support the BPS Product Certification Scheme
• Issues the Philippine Standards (PS) License and the Import Commodity Clearance (ICC) to manufacturers and importers, respectively, that complies with the safety and quality requirements of a specific standard
• Supervises the National Registration Scheme for Quality Management System (QMS) and Environmental Management System
• Updates assessors on matters concerning international quality and environmental standards
• Offers Library services/Standards Data Center
• Receives inquiries and fills orders for copies of local, foreign and international standards, catalogues, standards-related publications, and metrication materials
• Assists exporters in identifying and obtaining overseas standards and regulatory and testing requirements that are affecting their products

9. International Services

• Performs and oversees activities concerned with regional and international affairs of the BPS particularly on the development of memorandum of understanding (MOU) and mutual recognition arrangements (MRA) in a bilateral and multilateral level
• Awards certificates of accreditation to management system certification bodies that issue Certificates of ISO 9001 or QMS, ISO 14001/Environmental Management System (EMS), and Hazard Analysis Critical Control Point (HACCP)
• Accredits testing and calibration laboratories through the BPS Laboratory Accreditation Scheme (BPSLAS)

12. Training

• Extends technical assistance through seminars and training programs both for the government and private sectors

Bureau of Domestic Trade Promotion (BDTP) sells publications, which are source of information and guide for manufacturers and exporters looking for local suppliers. It is also useful for those looking for partnerships, subcontracting, distributorship, and other business cooperation arrangements.

• Supermarket
• Office and School Supplies Store
• Department Store
• Hotel and Resort
• Fastfood and Restaurant Chain
• Subcontractor
• Paano Maging Certified Food Supplier?
• Paano Magbenta ng Produkto o Serbisyo?
• Paano Maging Halal Certified Food Supplier?
• First publication covers sources in Metro Manila and was published in 2005.
• Second edition covers suppliers of Mindanao food sectors and was published in 2008.
• Third publication covers sources in South Luzon to be published in 2009.
• Published in 2005 – The Philippine Raw Materials Catalogue:  Wearable, Gifts and Holiday Décor volume features a variety of indigenous raw materials used in wearable, gifts and holiday decors such as bamboo, bast fiber, climbing ferns, reeds, herbs, erect palms, climbing palms (rattan), sedges and rushes, screw pines (pandan), woody pines, leather, seashells, beads and components.
• Published in 2006 – The Philippine Raw Materials Catalogue: Furniture, Furnishings, and Loomweaving volume features raw materials used in the furniture, furnishings and loomweaving industries such as rushes, grasses, woody vines, screwpines, erect palms, bamboo, tree plantation species, fibers, fossilized/skeletonized leaves, and butterfly.
• Published in 2007 – The Philippine Raw Materials Catalogue: Beads, Carabao Horns and Bones, and Seashells volume features the uses of beads, carabao horns and bones, and seashells in manufacturing Philippine products.
• Published in 2008 – The Philippine Raw Materials Catalogue: Manila Palm, Banana, Corn, Coconut, Fish Scale, Recycled, Tahong, Water Hyacinth, and Sabutan
• Agricultural products
• Automotive parts and accessories
• Chamber of Commerce
• Chemical and chemical products
• Construction
• Fashion accessories
• Fresh and processed foods
• Furniture and furnishings
• Gifts, toys and housewares
• Hotel and restaurants
• Info-tech and electrical products and services
• Metal products
• Non-metal products
• Paper products
• Pharmaceuticals
• Resource based products
• Others not elsewhere classified

Philippine Food Product Catalogue (available in print and CD installer) features 111 Philippine manufacturers/exporters offering a wide array of products in the following food sectors:

• Snack foods
• Baked products
• Processed fruits and vegetables
• Wines and beverages
• Sauces and condiments
• Processed meat products
• Frozen/processed marine products
• Organic and natural products
• Other food products

The Design Center of the Philippines (DCP) promotes design as a tool for improving the quality and competitiveness of Philippine products. It services the design needs and requirements of SMEs.

Programs and Services:

• Product Design and Development. Design, development, or improvement of products and labels responsive to market needs and requirements and manufacturer’s production capabilities
• Design Research. Acquisition and dissemination of relevant design and market data and conduct of applied research projects to support product development activities of both designer and industry
• Design Promotion. Increases awareness and appreciation of design and its use through exhibitions, seminars, dialogues, and publications.
• Product Design. Design of a new product, product adaptation, product diversification, or expansion of existing product or product line
• Technology Updating Workshops. Hands-on learning and application of skills on techniques such as finishing to complement product development activities
• Design and Technical Information. Information dissemination activities such as seminars on product development, design trends, and related topics
• Library. Access to design and related information from local and foreign sources for designers and industry.
• Machinery and equipment;
• Raw materials procurement;
• Product research development and quality control;
• Storage/warehousing;
• Trade consolidation and provision of display centers;
• Business incubation services;
• Skills training; and
• Other services.

Particularly, this directory contains the name of the facility, its location, the name of its owner/contact person, the services offered, equipment provided by the facility, and sectors serviced.

Download the  2006 Directory of Common Service Facilities Handbook .

Visit the DCP Website for more information .

Programs and Services

1. Frontline Services

• The Trade Information and Assistance Group through the Export Trade Facilitation Division, serves as the customer/exporter relations personnel of the BETP for all export trade-related inquiries. This frontline team provides real, immediate, and substantial assistance to existing and potential exporters.
• Export Assistance Network (EXPONET). To minimize the uncertainties of getting started in the export business, the EXPONET provides assistance on all export-related matters including export procedures and documentation, trade complaints, and others.
• Business Matching Center. Foreign buyers and local exporters find commonality through this special information service. The center receives inquiries regularly and directly from international importers and the Philippine Foreign Trade Posts abroad. These inquiries are made available to legitimate local exporters for free.
• On-Line Trade Information System. Tradeline Philippines provides trade information through an interactive on-line system. Among other things, this unique service contains export and import statistics, exporters’ directory, product and market profiles, and other valuable industry links.
• International Trade Resource Center.  A wealth of trade information is available in this specialized library. Ideal for businesspeople and the academe, the center holds a comprehensive collection of printed and electronic materials such as books and journals on international trade with emphasis on product and market information.
• Communications Division. BETP clients, particularly members of Business Selling Missions for dispatch to various target markets, may seek the creative and technical assistance of this group for the preparation of promotional materials in print or electronic format. Also available for sale are copies of the Exporters Manual and Handy Guide to Export.
• Export Trade Complaints Committee. Should disputes arise between local suppliers/exporters and foreign buyers, complaint cases may be filed with the BETP through the Export Trade Complaints Committee. BETP has a pool of personnel who trained with the Makati Regional Trial Court and the Supreme Court of the Philippines to mediate on export-related complaints.
• Market Consultancy. Through the Market Strategy and Consultancy Group, exporters who intend to penetrate specific markets such as the Americas, Europe, Association of Southeast Asian Nations (ASEAN), Asia, Australia, and the Middle East may seek the expertise of Country Desk Officers. These officers assist in formulating marketing strategies and provide exporters with updated information and other valuable tools to increase export sales in identified markets.
• Product Consultancy. Trade policy issues, as well as updates on research and development for specific products are discussed during consultative meetings with the Product Officers. The team of Product Officers at the Product Research and Strategy Group provides assistance to exporters based on the following product categories of expertise:a. Resource-based commoditiesFood and food preparations b. Herbal and natural products c. Industrial manufactures d. Consumer goods e. International services f.  Others
• Business Missions. Exporters wanting to visit a particular target market either for exploratory purpose or direct sales promotion may join BETP business missions. The Market Officers and the Product Officers specialize in organizing Business Missions for dispatch to specific markets.

Share this:

• Click to share on Twitter (Opens in new window)
• Click to share on Facebook (Opens in new window)
• Click to share on LinkedIn (Opens in new window)
• Click to print (Opens in new window)
• Click to share on Reddit (Opens in new window)

Accessibility Toolbar

• Powered with favorite Love by Codenroll

Category: Business

• Financial Assistance

11 Basic Requirements to Start a Small Business in the Philippines

WhatALife Contributor

• Share on Twitter Share on Twitter
• Share on Facebook Share on Facebook
• Share on LinkedIn Share on LinkedIn

Starting up a business takes time. It also takes sweat, some tears, and a whole lot of elbow grease. For some, it’s a lot more liberating than being employed at someone else’s business. For other people, starting a business can be a way to earn money on the side. But, starting a business can certainly help with the circumstances we find ourselves in!

What You Need To Know Before Starting

Whether you’re a sole proprietor, partner, or part of a corporation, read and learn how to start a business in the Philippines! Here you’ll also find the required documents to legally register your company.

Here are the essential business documents you need when putting up a small business in the Philippines:

• Barangay Clearance;
• Mayor’s Business Permit;
• BIR registration documents;
• Registration from the SSS;
• Both PhilHealth and Pag-IBIG; and
• special permits, if applicable.

Also read: GUIDE: DTI Business Name Registration Check

Design A Business Structure To Match Its Name

Now that you have all the documents, it’s time to get started. First, you need to consider your business structure to find the appropriate government office to register the business name! The business structure depends on the owner, that is, you! Note that name registration fee are usually within the ₱40 to ₱120 range . So, here’s a quick and easy guide:

• Sole proprietorships fall under the Department of Trade and Industry;
• Corporations or Partnerships must submit to the Securities and Exchange Commission; and
• Cooperatives go to the Cooperative Development Authority.

Capitalize your Business

In the next step, money — or, more specifically, capital — comes into play. As the owner, you need to deposit a minimum amount of capital at a given bank. The minimum amount is ₱5,000 , as prescribed by the Philippines’ Corporation Code. However, do keep in mind that depending on the bank, you’ll need extra documentation. Identification documents and articles of incorporation are chief among these requirements. 

Report to the Department of Trade and Industry

Compared to these other steps, filing with the Department of Trade and Industry or DTI is easy. However, it is no less crucial, considering that filing with the Department will allow you to use the business name as a trading name. So, if you register with the DTI, you can own a trademark. 

The great thing about filing today is that you can do it online ! As a sole proprietor especially, you have to check the database on the DTI site to find if the business name you want is still free. Once you find an available name, you can fill out the business name application form. Then, you submit the form to the government office. But, you’ll have to wait for the Certificate of Registration, or COR, before you move to the next step.

Head over to the Bureau of Internal Revenue

Every business has to register with the Bureau of Internal Revenue or BIR. Once registered, you can pay taxes. Though it may be sad to see your hard-earned money go, your business (and if you’ve employed them, your staff) will enjoy some benefits in return. So you need to:

• Fill out some forms. Sole proprietors should accomplish two original copies of BIR Form 1901. On the other hand, corporations, partnerships, and cooperatives should also accomplish two original copies of Form 1903.
• Next, submit your forms (plus other BIR requirements ) to the appropriate Revenue District Office. 
• Then, pay the registration fee. It’s ₱500, but you need to add ₱30 for the documentary stamp tax.
• Finally, get the Certificate of Registration, Authority to Print, and the “Ask for Receipt” Notice after approval.

Note: If you have the time, you may attend a free taxpayer’s initial briefing by the BIR!

Report to the Securities and Exchange Commission

The SEC or Securities and Exchange Commission regulates the registered businesses within the country. It’s one of the most critical business registration steps, especially if you’re a corporation, partnership, or cooperative! *So, sole proprietors, you can move on to the next step. In addition, the Corporation Code states that these documents have to be notarized before filing at the SEC.

Now, for those reporting to the SEC, here are the required documents:

• The business’s approved company name;
• Articles of incorporation;
• A statement or statements concerning assets and liabilities;
• A Treasurer’s affidavit; and
• Company particulars (that is, the information of essential persons in your business).

Tell the Barangay about your New Business

You need to visit the Barangay Hall associated with your business location. Then you should let them know you’re operating a business in the area. And you have to pay a fee as well! It’s usually around ₱300 to ₱1,000 . 

Here are the required documents you have to present: 

• An application form;
• A DTI Certificate of Registration, especially for sole proprietors;
• Two valid IDs, especially for sole proprietors;
• A Proof of Residence, especially for sole proprietors;
• A Certificate of Incorporation from the SEC, especially for partnerships and corporations;
• Articles of Association; 
• A lease contract; and
• A business plan.

Once you’ve processed the documents, all you need to do is wait for your Barangay Certificate of Business Registration.

Also read: BIR Registration for new business, Requirements and Steps

Let the Local Government Know About Your Business

You’re going to need a Mayor’s permit or a business permit from your Local Government Unit or LGU. After all, a business is based in a town or city, so it will take up some space! So even if you’re running your business from your home, you still need to let the LGU know. So here’s how to get that Mayor’s business permit:

• The DTI Certificate of Registration, especially for sole proprietors;
• A Barangay Clearance;
• Two valid IDs and Proof of Residence, especially for sole proprietors.
• Then get a certificate from the local fire department for fire safety and inspection;
• location clearance;
• mechanical permit;
• electrical inspection certificate; and 
• sanitary permit.
• Finally, collect the permit on the agreed date from the Business Permits and Licensing Office or BPLO.

Tender your Annual Community Tax

Also, don’t forget that you’ve got to pay your Annual Community Tax at the City Treasurer’s Office or CTO. Now, you have two parts to the tax. The basic tax you have to pay will depend on your business. However, the amount for that won’t exceed ₱500. Additional taxation will depend on the “assessed value of the real property you own, along with dividends and earnings.”

Set Up Your Staff with the Social Security System (SSS)

Now, this step mainly deals with businesses that have employees. After all, business owners have to take care of the cogs that keep your company running! So, sole proprietors can skip this step and move on! For businesses that employ staff, whether they number in the hundreds or just one, you have to tender these documents:

• Employer Registration Form R-1;
• Employment Report Form R-1A;
• A list of employees with pertinent information of each; and
• Articles of incorporation, SEC registration, and by-laws.

Visit Other Government Offices

Once done with the previous steps, you have to head to other government institutions. Registering at the following offices will make you an outstanding business owner. Here are some offices you could visit for further success:

• Department of Labor and Employment (DOLE): DOLE can help with occupational safety and health codes.
• PhilHealth: These offices are necessary in availing healt-related services. You can also avail Medicare there. 
• Pag-IBIG: Having funds under this association is a requirement. Additionally, employees covered by the SSS makes it a special case to have emergency funds of any kind.
• The Department of Environment and Natural Resources (DENR): These offices can give you an Environmental Compliance Certificate.

Closing Thoughts

Not only does running a business take a lot, doing all the legal matters is a long process too! So many fees and permits and certificates, your head will surely spin. Hopefully, this list has answered your questions. New companies keep the local economy strong. So business owners, plan well and learn about procedures! Good luck with your business. – Alex/WhatALife.ph

Keep Reading : How to Register to My.SSS Online: Your Ultimate Guide 2021

Contributor writers of WhatALife!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Latest News

• EZ2 2D RESULTS August 31, 2024 (Saturday) August 31, 2024
• FIFTY FIFTY’s “Starry Night” is Out August 30, 2024
• Universal Unveils “Jurassic World: Rebirth” August 30, 2024
• Japanese Cover of BINI’s ‘Salamin, Salamin’ Goes Viral August 30, 2024
• Kyline Alcantara Says She’s Moved on from Past Relationship August 30, 2024

Viral Stories

• 299-peso engagement ring issue ignites debate among netizens January 7, 2024
• Filipina Maid Gets Emotional as Employer Surprises Her with Gift July 6, 2023
• Pauline Carpio: What Happened to Her? June 13, 2023
• Cockroach Makes an Appearance at 2023 Met Gala and Walks the Red Carpet May 3, 2023
• Puppy rescues 5-year-old girl from house fire in GenSan April 27, 2023

Exam Results

• List of Passers – August 2024 Master Electricians Exam Results August 21, 2024
• List of Passers – August 2024 Plant Mechanics Exam Results August 21, 2024
• List of Passers – August 2024 Mechanical Engineers Exam Results August 21, 2024
• List of Passers – August 2024 Registered Electrical Engineers Exam Results August 21, 2024
• List of Passers —  August 2024 Guidance Counselors Licensure Exam August 16, 2024

Lotto Results

• EZ2 2D RESULTS August 30, 2024 (Friday) August 30, 2024
• SWERTRES RESULTS August 30, 2024 (FRIDAY) August 30, 2024
• EZ2 2D RESULTS August 29, 2024 (Thursday) August 29, 2024
• SWERTRES RESULTS August 29, 2024 (Thursday) August 29, 2024

• HOW TO APPLY
• NEWS & PROMOS

The 20 Most Profitable Small Businesses you can Start in the Philippines

Key takeaways:.

• The Philippine economy is projected to grow by 5.3% by the end of 2023. As the Philippines returns to a sense of normalcy, a favorable environment for business is emerging.
• You may begin some small businesses with a capital of ₱0 to a few thousand pesos by leveraging the resources you already have.
• Researching your market, developing a solid business plan and registering your business are some of the things you need to do to ensure your small business success.

Table of Contents

List of 20 Small Businesses with a Small Capital in the Philippines

The Philippine economy, while still recovering from the pandemic’s impact, has shown an impressive growth by 7.6% in 2022 and is projected to continue to grow by 5.3% by the end of 2023 [ 1 ]. As life regains its pace in the Philippines, a favorable environment for business is emerging.

This sets the stage for budding entrepreneurs to step in. Starting a business in the Philippines, even with a small capital, allows you to ride the momentum of recovery and contribute to the growing opportunities.

Beginning a business venture, no matter how small, can be a significant turning point in your life. It offers you the chance to shape your financial future from scratch. If you’re among those considering entrepreneurship but unsure where to begin, or if you’re looking to supplement your current earnings, we’ve curated a list of small businesses in the Philippines requiring a small capital.

These ideas span various skills and interests, helping you discover your entrepreneurial path. Among these ideas, you’ll find both established and proven concepts, as well as innovative options that align with the evolving post-pandemic landscape of the Philippines.

With determination and a smart approach, these small business ideas can lead you toward your entrepreneurial goals. Now let’s find out what the best small business in the Philippines will be.

Small Business ideas in Retail and Trade

1. sari-sari store.

• Capital Needed: ₱10,000 – ₱50,000
• Tools and Resources Needed: Shelving, initial inventory of basic goods (canned goods, snacks, toiletries), cash register or ledger, store signage.
• Skills Needed: Basic inventory management, customer service

At the heart of Filipino neighborhoods, the sari-sari store stands as a cornerstone, providing an assortment of everyday necessities. Ranging from colorful stacks of snacks to toiletries and school supplies, they cater to their community’s needs, mainly locals and neighbors. It’s one of the most common small businesses in the Philippines

In a 2022 study by Kantar, following the spending patterns of 5,000 local households, 41 percent of fast-moving consumer goods (FMCG) were procured from local sari-sari stores [ 2 ]. This marked a 6% rise compared to the 2020 data. These figures firmly establish the enduring demand and their significance for years to come for Filipino communities.

To start a sari-sari store business, gather an inventory of products for sale with a capital that may range from ₱10,000 to ₱50,000. Consider sourcing from wholesale supermarkets or Divisoria, both reputable options for stocking up. Your expenses will depend on the range of items you plan to offer.

With the community being your clientele, nurture loyalty through personal connections and attentive service. Keep your prices competitive and embrace digital payments to cater to evolving habits.

• Get up to PHP 25,000 in just 5 minutes
• Only one government ID is required
• Simple application process
• Instant fund transfer

2. Cellphone Loading

• Capital Needed: ₱2,000 – ₱10,000 (initial load credits)
• Tools and Resources Needed: Mobile phone, prepaid load credits, retailer SIM card
• Skills Needed: Basic math skills, familiarity with mobile networks

Filipinos heavily rely on mobile phones, creating a demand for prepaid load. In 2022, the number of mobile subscribers in the Philippines amounted to about 153 million [ 3 ].

An e-loading business is straightforward – you sell this load to customers, making a profit. It’s an entry-level opportunity accessible to most. You can start this small business in the Philippines with a 4k capital or even less. While it’s not the most profitable business out there, it demands simpler operations (without the physical inventory and store), for as low as ₱2,000 to start with.

Start your e-loading business by buying prepaid cellphone load from providers like Globe, Smart, or third-party distributors such as Coins.ph and Load Central. You may also opt to purchase another phone to use for load transactions. Once you start operating, offer various load denominations to cater to different customers and advertise your loading station through visible signage.

3. Ukay Ukay

• Capital Needed: ₱10,000 – ₱50,000 (initial inventory)
• Tools and Resources Needed: Secondhand clothing inventory, display racks, location with foot traffic
• Skills Needed: Fashion sense, bargaining skills, customer interaction

Ukay-ukay , which translates to “thrift shop,” draws from a range of sources – including excess donations from wealthier nations and overruns from overseas retailers. While it doesn’t entirely solve the fast fashion issue, it’s gaining traction among eco-conscious Filipinos seeking sustainable alternatives. The diverse inventory and budget-friendly fashion choices are gradually making it a more appealing option for a growing number of Filipinos looking for stylish clothing for less, making it a great small business to start in the Philippines .

There are many places where you can find second-hand clothes. You can buy them from ukay ukay bales and wholesale sellers online and get an initial inventory for ₱10,000 to ₱50,000. Once you find a supplier, negotiate a comfortable price for both of you. Once you set up shop, regularly update your inventory to keep up with trends. Offer discounts and promotions to encourage repeat customers. You may also create themed displays to make shopping an engaging experience.

4. Rice Retailing

• Capital Needed: ₱50,000 – ₱100,000
• Tools and Resources Needed: Rice inventory, weighing scale, storage containers, signage
• Skills Needed: Basic accounting, inventory management, customer service

The rice retailing business holds significant value in the Philippines, where rice stands as a staple commodity. It’s an essential element of our meals, an indispensable presence on our tables, and a constant item on people’s shopping lists. 

Setting up a rice retailing venture requires a relatively modest initial investment but if you’re thinking about profitability, consider that there are a lot of restaurants and eateries that buy rice in bulk for their daily operations.

You may procure rice directly from rice mills or wholesalers to secure favorable pricing. Select a supplier located near your place of business for easier order placement. Many rice wholesalers offer delivery to your area upon meeting their minimum order criteria. Another important thing to know is to be able to start a rice dealership, you must secure a certificate from the National Food Authority (NFA).

5. Junk Shop/Scrap Business

• Tools and Resources Needed: Weighing scale, collection vehicle, sorting area, contact with recycling centers
• Skills Needed: Knowledge of recyclable materials, negotiation skills, basic business management

A junk shop business is more than a trade; it’s a way to turn discarded items into opportunities. As the awareness of the environmental impact of waste grows, starting a junk shop business will not only be profitable to you as a business owner but also to garbage collectors and for people who practice recycling.

To begin this venture, you first need to find a space to set up shop. Make sure that the space is spacious to contain all the junk and scrap that you’re trading and this is where the bulk of your cost will go. It is crucial to build good relationships with your suppliers and your clients. Your suppliers will be the businesses with leftover materials you can sell and the scavengers who you can provide push carts or karitons to make their work easier. Your clients will be recycling centers who need the items you gathered to be sorted and separated properly.

6. Homemade Skincare/Beauty Products

• Capital Needed: ₱5,000 – ₱20,000
• Tools and Resources Needed: Ingredients for beauty products, packaging materials, labeling, marketing channels
• Skills Needed: Knowledge of natural ingredients, product formulation, creativity in packaging

Homemade beauty products are soaring in demand in the Philippines – may it be soap, make-up or beauty creams. The appeal stems from the personal touch. Be it tackling humidity-triggered breakouts, managing sun-induced uneven skin tone, or combatting the toll of pollution on the skin, homemade beauty products crafted by people who encountered the same challenges hold a unique edge.

Starting your homemade beauty business means grasping common Filipino skincare issues and crafting natural solutions that cater to local needs. Invest time in meticulously formulating and testing your products, utilizing your network’s insights to improve effectiveness. Capitalize on your personal story and passion for your products to connect with potential customers. Above all, prioritize the safety and health regulations compliance of your offerings. Initial capital might vary between ₱5,000 to ₱20,000, with a constant requirement to secure raw materials. Yet, fueled by your passion and solid marketing, this endeavor can evolve into an additional income stream worth exploring.

Small Business in Food and Beverage Production in the Philippines

1. Carinderia/Home-Cooked Meals

• Capital Needed: ₱5,000 – ₱15,000
• Tools and Resources Needed: Kitchen appliances, cooking utensils, ingredients, food packaging, delivery mode (motorcycle or bicycle).
• Skills Needed: Cooking skills, menu planning, basic food safety and hygiene.

Offering affordable Filipino cuisine, carinderias are a sought-after dining option for the masses. A carinderia is one of the 20 most common small businesses in the Philippines. Launching one requires minimal capital, especially if you set it up at your own premises. While fast food has its place, the appeal of carinderias lies in their authenticity and cost-effectiveness. Patrons flock to these eateries for budget-friendly, home-cooked meals that remain unmatched by larger establishments.

Gather your initial capital, typically around ₱5,000 to ₱15,000, to cover ingredients, utensils, cooking equipment, business permits, and rental space. However, if you’re setting up this small business at home in the Philippines, a substantial capital may not be necessary. Develop a simple menu featuring popular Filipino home-cooked dishes including options with vegetables, fish, chicken, pork, and beef. Aim for variety by rotating your menu daily. Keep prices affordable to maintain customer loyalty and attract new patrons, balancing profitability with accessibility for the masses.

2. Pastry Business

• Capital Needed: ₱20,000 – ₱50,000
• Tools and Resources Needed: Baking equipment, ingredients, packaging materials, display cases, social media platforms.
• Skills Needed: Baking skills, creativity in pastry design, basic business management.

In the wake of the COVID-19 pandemic, countless food establishments faced closures, prompting the rise of online selling, particularly within the realm of baking. Most of these stores continue to flourish until today. Post-pandemic, baking is still a small business example in the Philippines that holds a lot of promise.

From timeless Filipino classics like “ensaymada” to modern interpretations, you can start showcasing your baking talents or heirloom recipes with an initial investment of ₱20,000 – ₱50,000 for ingredients and equipment. Experiment with unique flavors and designs to stand out. Stay updated with the latest baking trends and make the most of social media to display your creations and secure orders. But remember, taste is still king! Ensure your pastries are consistently delicious by choosing quality ingredients and refine your recipes to keep your customers coming back for more!

Do you need funds to start your small business?

With Digido, you only need a working phone and one government-issued ID. Calculate your pre-approved loan amount:

* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

3. Coffee Shop

• Capital Needed: ₱5,000 – ₱100,000
• Tools and Resources Needed: Commercial espresso machine, coffee grinder, brewing equipment, ingredients, seating furniture
• Skills Needed: Barista skills, customer service, basic business management

The pandemic spurred a surge in people exploring home brewing, with increased coffee machine and home brew supplies purchases. Interest in coffee and consumption in the Philippines is growing year by year and it offers a unique opportunity for you to pursue this venture, even from the comfort of your home and with a modest budget.

Launching a coffee shop is one example of small businesses in the Philippines that you can start even from the comfort of your home, and it doesn’t have to be pricey. Beginning small and expanding over time is a feasible strategy. Consider the story of a 25-year-old who initiated a coffee business during the pandemic, starting with just ₱6,000 at home and now boasting 15 branches [ 4 ]. Assess the resources you already have for a home setup. While quality espresso machines, drip coffee makers, or coffee grinders could be larger investments, you can explore budget-friendly coffee machines available online, ranging from ₱8,000 to ₱20,000. You may set up a kiosk right outside your home, making your coffee venture a cozy local hotspot.

4. Milk Tea Shop

• Capital Needed: ₱30,000 – ₱300,000
• Tools and Other Resources Needed: Milk tea ingredients (tea leaves, tapioca pearls, syrups, milk), commercial-grade blenders, brewing equipment, glassware, sealing machines, display cabinets, point-of-sale system.
• Skills Needed: Basic culinary skills, creativity in recipe development, customer service, basic financial management.

Milk tea has undeniably won over the hearts of Filipinos, especially the younger crowd, and it’s often associated with social hangouts and get-togethers. Aside from the perceived health benefits, its flexible customization caters to a diverse range of tastes. Milk tea is consistently also among the top 3 go-to beverages for a refreshing pick-me-up during lunch and merienda[ 5 ], proving that the milk tea hype doesn’t die down.

If you’re eyeing a budget-friendly milk tea shop venture, you start small with a kiosk or a shop with a few chairs and tables. Your initial investment, covering ingredients, equipment, packaging, and location, could fall anywhere from ₱30,000 to ₱300,000. Daily earnings could land between ₱2,000 to ₱10,000, depending on the scale of your operation and the spot you choose. Oh, and don’t forget, a catchy and creative shop name goes a long way in making you stand out in the milk tea scene in the Philippines.

Small Service Businesses in the Philippines

1. printing business.

• Capital Needed: ₱20,000 – ₱50,000 (for printing equipment)
• Tools and Resources Needed: Printer, printing materials (paper, ink), computer, design software
• Skills Needed: Basic graphic design, printing techniques, customer service

In a post-pandemic Philippines, there is a surge in demand for printing services, fueled by new businesses embracing printed materials as promotional tools. These businesses seek a variety of printed materials like brochures, flyers, business cards and various giveaways to effectively market their products and services.

A printing machine costs range from ₱10,000 to ₱200,000, depending on your daily print volume. If that sounds expensive, you may begin with a smaller machine and upgrade as your capacity grows. A basic computer is enough for printing software. You may opt to specialize on printing surfaces like t-shirts, vinyl signs, business cards and various marketing materials. Additionally, you may offer customization options. It’s also crucial to maintain a well-stocked inventory of paper/printing surfaces so make sure to source from a reliable supplier offering consistent quality across quantities.

2. Photo Booth Rental

• Capital Needed: ₱70,000 – ₱100,000
• Tools and Resources Needed: Photobooth setup (camera, backdrop, props), printer, laptop, photo paper, ink, photo booth software
• Skills Needed: Basic photography skills, customer service

Filipinos never run out of things to celebrate – weddings, christenings, weekend outings, family reunions, corporate gatherings… the list goes on. Capturing cherished memories has become second nature. Interestingly, the popularity of smartphone selfies hasn’t diminished the desire for photo booth pictures and the demand for photo opportunities is stronger than ever.

Photo booth rentals is one of the fast rising small enterprise examples in the Philippines. Setting up a photo booth business requires an initial investment of approximately ₱70,000 to ₱100,000, covering essentials like a camera, a laptop, lighting, a commercial printer and props. To stand out, you can make your props and backdrops creative and trendy. While bookings start around P5,000, building a good reputation and effective marketing can lead to a growing client base each month, eventually offsetting your costs significantly.

3. Bills Payment

• Capital Needed: ₱45,000 – ₱100,000
• Tools and Resources Needed: Computer, stable internet connection, bills payment system/software, signage
• Skills Needed: Basic computer skills, customer service, financial management

Amid the pandemic, online payments gained immense popularity; however, the presence of physical bills payment centers remains an in-demand service due to limited access to digital payments. The 2021 Financial Inclusion Survey by the Bangko Sentral ng Pilipinas revealed that 45% of adults in urban areas and 44% in the rural areas lack formal bank accounts[ 6 ]. These all-in-one centers benefit unbanked Filipinos, providing a time-saving solution for bill settlement.

Starting this business offers two pathways: consider franchising an established payment center starting at ₱100,000, or partner up with non-traditional digital payment platforms for as low as ₱45,000. Generate revenue through service fees for each transaction and strategically position your venture in high-traffic areas with adaptable operating hours to maximize foot traffic and customer convenience.

4. Piso Wi-Fi

• Capital Needed: ₱20,000 – ₱50,000 (for setup and initial internet credits)
• Tools and Resources Needed: Piso Wifi vending machine, stable internet connection, pricing details on signage
• Skills Needed: Basic networking knowledge, maintenance

Piso Wifi stands out as one of the top small businesses in the Philippines in terms of passive income generation. These vending machines offer coin-operated Wi-Fi access, positioned in locations where people need internet connection but may lack the means to afford it. These compact devices are popular in the cities and are steadily gaining ground in provincial areas.

A reliable and secure internet connection is important, given that you’ll be selling online access. You may opt to get higher mbps or just enough to cover the required speed. The cost for a vending machine ranges between ₱8,000 and ₱30,000, depending on model and additional features. Payment terms can be customized to your preference, like 10 pesos per hour or 1 peso for 5 minutes and you can earn ₱500 to ₱3000 pesos a day depending on your location.

5. Laundry Shop

• Capital Needed: ₱50,000 – ₱200,000
• Tools and Resources Needed: Washing machines, drying machines, ironing equipment, laundry supplies, location with proper ventilation
• Skills Needed: Basic laundry techniques, customer service, management

The quest for earning a livelihood in the country has driven many to live incredibly hectic lives. As a result, most Filipinos find it challenging to address even their minor chores. Among these, laundry stands out as one of the most laborious tasks and people will be more than willing to spend money for convenience and the ability to save time and energy.

Starting your laundry business requires a modest investment as you need machines, laborers and laundry supplies to operate. Franchise fees for established wash-dry-fold or self-service laundromats range from ₱100,000 to ₱200,000 but setting up costs will be much more than that depending on your business space. You can also start small by using your own and buying more machines and supplies. A heavy-duty washing machine ranges from ₱15,000 to ₱60,000. You can add more equipment and offer new services like ironing or dry cleaning once you are able to expand.

6. Online Tutoring

• Capital Needed: ₱0 – ₱5,000 (depending on tools)
• Tools and Resources Needed: Computer, stable internet connection, educational materials, online platform
• Skills Needed: Expertise in chosen subject, teaching skills, effective communication

Before the pandemic, most students participated in face-to-face private tutorial sessions, either at their homes, their tutor’s homes, or in tutorial centers. With the shift to online learning, both tutors and students have come to recognize that virtual sessions can offer comparable advantages. Because of the convenience of this set-up, the demand still endures and is a perfect example of a small business from home in the Philippines that you can start.

Begin by focusing on the subjects that align with your expertise. If you’re targeting international clients, teaching English as a second language (ESL) is a popular choice. The startup cost for this business is relatively low, as you will mainly rely on your knowledge and teaching methods. If you already possess a laptop, consider investing in a website, class scheduling software, online meeting platform subscriptions, or a suitable teaching space. Establishing a solid reputation is essential for attracting more clients. You may also consider supplementing your efforts by blogging, sharing content relevant to your subject proficiency.

7. Car Wash

• Capital Needed: ₱100,000 to ₱200,000
• Tools and Resources Needed: Car wash equipment (pressure washer, cleaning supplies), water source, location with drainage
• Skills Needed: Attention to detail, car cleaning techniques, customer service

The Philippines’ thriving automotive market makes a car wash business a promising venture. With around 89,000 new car registrations in 2022[ 7 ], not counting other types and existing vehicles and new registrations this year, there’s a consistent demand for this service. Similar to a laundry shop, people often turn to car wash professionals to maintain their vehicles, especially when they’re busy and want to save time and energy.

To begin, you’ll need a starting investment of at least ₱150,000 to ₱200,000, which covers initial costs. Be prepared for ongoing expenses, including equipment, location expenses, labor, utilities, and more. Your monthly earnings could range from ₱30,000 to ₱50,000, depending on your operations. As you expand, you could diversify services, like repair, car waxing, detailing, and drying.

Learn about Profitable Service Business Examples in the Philippines

Creative and Artistic Services

1. commissioned art.

• Capital Needed: ₱0 – ₱5,000 (depends on art supplies and their quality)
• Tools and Resources Needed: Art supplies (paints, brushes, canvas), portfolio, social media for promotion
• Skills Needed: Artistic talent, creativity, customer interaction

Taking advantage of social media to showcase their art, a lot of traditional and digital Filipino artists started earning money through commissioned pieces. People are willing to spend money on beautiful and personalized artwork that holds meaning to them, whether it’s a portrait of a loved one, a pet, an anime character, or a landscape. These can serve as a heartfelt gift, cherished memory, or even an investment. A commissioned art can also be customized in specific sizes and colors perfect for the client’s interior design.

For artists venturing into commissions, you can pursue thisbusiness idea with a small capital in the Philippines. Start by determining the medium, the type of artwork you want to create, establishing your style, then build an art portfolio. Depending on your medium, other costs would cover materials like drawing tablet and software, paints, canvas and other art supplies. Pricing your services will depend on factors like project complexity, size, and timeframe and remember to not undersell your talents. Listening to your clients’ desires and needs is crucial, enabling you to integrate their story and perfectly capture their requirements.

2. Web/Graphic Design Services

• Capital Needed: ₱20,000 – ₱55,000 (for software and tools)
• Tools and Resources Needed: Computer, design software (Adobe Creative Suite, Canva), portfolio website
• Skills Needed: Graphic design skills, creativity, communication

The digital landscape relies heavily on captivating visuals. As businesses and influencers in the Philippines seek to establish their identity, boost their online presence and engage with audiences with their content, web/graphic design and video editing opportunities started to grow.

To pursue this small online business idea in the Philippines , first acquire the necessary skills and a heavy-duty laptop or PC with ample storage capacity. This is crucial as you’ll be handling sizable image files and design elements, along with lengthy high-resolution videos. A suitable laptop for video editing and graphic design can be priced starting at ₱50,000. Subscription costs for editing software can range between ₱400 to ₱3500 per month. Improve your skills by taking online courses to keep up with the trends and continuously network to expand your clients. Editing videos and graphic design are very labor-intensive, but with the right amount of effort, you can earn a lot of money with this business.

3. Vlogging/Content Creation

• Capital Needed: ₱2,000 – ₱10,000 (for equipment)
• Tools and Resources Needed: Camera or smartphone with good video quality, video editing software, YouTube or social media platform
• Skills Needed: Storytelling, video editing, content creation

Speaking of content, a ccording to the 2023 Global Digital Report from Meltwater, 55% of internet users in the Philippines (aged 16 to 64) watch vlogs, while 64% engage with how-to, tutorial, or educational videos on a weekly basis [ 8 ]. Vlogging has democratized fame, offering you a platform where you can share their life, passions, and expertise, while connecting with a global audience on a personal level. Also, in case you missed it , there is so much potential to generate income making content for social media platforms.

Here are the requirements to monetize content and turn it into a small business in the Philippines:

On average, content creators may earn from ₱100 to ₱250 for a thousand views while established content creators may earn from hundreds of thousands of pesos to millions. Producing quality content that people watch, share, and react with truly pays off.

To start getting into the business of content creation, you must determine first what your content will be all about and leverage your expertise. Initial investment may range from ₱2,000 to ₱10,000 for your equipment and logistics for your chosen content. Equipment doesn’t need to be fancy; you just need to be able to produce clear audio and video. Tap on your creative skills to add interesting elements to your content and don’t forget to engage consistently with your audience and fellow vloggers. 

Tips for Starting a Small Business in the Philippines

• Research your market It’s crucial to deeply comprehend the needs and preferences of your potential customers. Additionally, identify any unaddressed gaps in the market where your business can provide valuable solutions, allowing you to cater effectively to demand and stand out in a competitive landscape.
• Develop a solid business plan Creating a clear and detailed business plan is like plotting your adventure on a treasure map. It’s your step-by-step guide that outlines your goals, strategies, and financial projections. With this plan in hand, you’ll have a roadmap to follow, helping you stay on track and steer your business toward success.
• Choose location wisely When launching your small business, where you set up shop can make a big difference. Choose a location that sees a steady flow of people passing by, is conveniently accessible, and isn’t crowded with similar businesses nearby. This will give your venture a better chance to catch the attention of potential customers and stand out in the crowd
• Legitimize your Business Getting your business on the right track means registering it with the proper government agencies, obtaining the needed permits, and sticking to local regulations. This ensures your business runs smoothly.
• To legitimize your business, you need to register your business name at the Department of Trade and Industry (DTI) and get a certificate of registration from your Barangay, your LGU’s Mayor’s Office and with the Bureau of Internal Revenue (BIR). Some types of small businesses in the Philippines need additional certificates from other government agencies so make sure to include that on your checklist.
• Boost your online presence Set up a polished website and social media accounts. Being active online enables you to engage with a wider audience and showcase your offerings effectively.
• Delight your customers Always prioritize your customers. Offer excellent service and make sure to promptly address any concerns or problems they might have. Happy customers are the backbone of your business, so treat them well and create a positive experience that keeps them coming back.
• Network Building relationships with fellow entrepreneurs and businesses in your industry is a smart move. Attend events, network, and explore partnerships to expand your circle and gain new insights. Collaborating with others can bring fresh ideas to the table and help your small business thrive.
• Mind Your finances Keep a close eye on your spending and earnings. Create a realistic budget and stick to it to ensure your business stays financially healthy.
• Stay fresh Keep an eye on what’s trending in your field and be ready to change things up to match what people want. It keeps your business relevant and exciting.

Learn How to Renew Your Business Permits in the Philippines 2023

Where to get help to Start a Small Business in the Philippines

• Department of Trade and Industry Programs [ 12 ] : A continuous learning initiative aimed at enhancing the competitiveness of micro, small, and medium enterprises (MSMEs) in both domestic and international markets.
• Negosyo Center: These government-operated centers are strategically placed in all provinces, cities, and municipalities to promote business-friendly processes, ease of doing business, and provide accessible services for MSMEs.
• Tatak: Matatag na Negosyo (TMN): This program enhances micro-stores’ capacities, improving operations, facilitating access to formal financial channels, and establishing strong market linkages for optimal supply chain management.
• Go Lokal!: Designed to support MSMEs, this program helps them enter the mainstream market by providing merchandise development assistance and market access through retail partners like malls.

Philippine Center for Entrepreneurship – Go Negosyo Programs [ 13 ]

• 3M On Wheels (3MOW): This nationwide mentorship program offers entrepreneurs quick-stop onsite mentorship encounters across the Philippines, fostering capacity-building and development.
• Kapatid Mentor For Me Project (KMME): A joint initiative by the DTI and the Philippine Center for Entrepreneurship (PCE), KMME supports MSEs through three components: Mentor ME, involving coaching from large corporations on various business aspects; Adopt-an-SSF, which grants access to Shared Service Facilities (SSFs); and the Inclusive Business model, connecting MSEs with larger companies’ value chains.

To get the funding you need to start a small business in the Philippines, you can seek help from trusted and reputable lending companies, as well.

Digido is a SEC-licensed online lender in the Philippines holding both SEC Registration and an official Certificate of Authority. The company offers cutting-edge financial solutions through a fully automated online portal, for utmost convenience. With an efficient lending system, Digido assesses each application and disburses funds within hours or even minutes! This user-friendly loan app provides attractive interest rates, including promotional offers, and extends non-collateral loans of up to ₱25,000.

• Applying is easy, and funds will come immediately

Final Thoughts

As the country bounces back from the pandemic’s effects, starting a small business in the Philippines holds great potential. Whether you go with a familiar idea or something new, or pursue a business aligned to your skills and interest, remember that success comes from working hard and your ability to adapt to change. By exploring these ideas and getting the right support, you could even be a trailblazer in the evolving business scene. Your small business today might inspire others and show the Filipino spirit of entrepreneurship.

Good luck, and may your small business journey in the Philippines be a successful and fulfilling one!

Learn Everything You Need to Know on Getting Business Loans Philippines

• What are the small businesses in the Philippines that I can start with a 4k capital? You can start a small business in the Philippines with an initial investment of ₱4,000. Cellphone loading demands simpler operations and is one business you can start for as low as ₱2,000. If you already have existing tools and resources, you may also begin marketing your art and start an online tutoring service.
• How do I make my business legit? Register your business name at DTI, obtain a certificate of registration from your Barangay and LGU's Mayor's Office, and register with the BIR. Depending on the type of small business you plan to start, additional certificates from other Philippine government agencies might be needed.
• What government programs can I take advantage of as I start my small business? When you're starting a small business in the Philippines, there are government programs that can provide valuable help. The Department of Trade and Industry has initiatives like the Small and Medium Enterprise Roving Academy (SMERA) and Negosyo Center, which focus on making your business more competitive and simplifying processes. The Tatak: Matatag na Negosyo (TMN) program aims to help businesses like sari-sari stores and small bakeries, while Go Lokal! assists in marketing your business. The Philippine Center for Entrepreneurship offers programs like 3M On Wheels and Kapatid Mentor For Me Project, which provide mentorship and support for growth.
• Is vlogging a small business? Yes, vlogging can certainly be considered a small business opportunity. Monetization options on platforms like YouTube, TikTok, and Facebook further support the idea of vlogging as a viable small business, making it a lucrative endeavor with costs depending on the quality of equipment you want to use and the requirements of your chosen content.

Disclaimer: This article was written based on information available to the writer at the time of publication and the article was published for instructional, research, reference, and educational purposes only. The information and data used and disclosed in this article are publicly available and the writer or the Company does not claim any exclusive ownership or proprietary right over the information, data, literature or article sourced or obtained from publicly available sources. Some of the information, data, and/or materials cited in this article which were obtained from publicly available sources belong to the owner of the information or data, and the use thereof in this article are covered by fair use under applicable intellectual property laws.

Nothing in the articles published in the website is intended to constitute legal or financial advice and users are advised to seek counsel from legal and financial professionals. Likewise, rates or offers published in the website are promotional marketing offers only and do not constitute any binding contract between the Company and the users. While the writers and publishers of the articles in the website wrote the articles using credible information available to them at the time of publication, any changes or updates to the information presented in this article may not be reflected here. Users are enjoined to exercise appropriate diligence in using the data and information published in the website, and they are urged to study and compare it with other credible sources. Users understand that the writers, publisher, website owner and the Company are not liable for any damage or injury they sustained for their wrongful or erroneous use of the data or information written in the article and published in the website.

Furthermore, the use of trademarks, marks, brands, business names, and/or trade names in this article is for instructional, research, and reference purposes, which are governed by the fair use principle under applicable intellectual property laws. The writer, publisher, website owner and the Company disclaims ownership, use for commercial purposes, and/or appropriation of the trademarks, marks, brands, business names, and/or trade names belonging to another.

Note: The information presented in the tables is subject to change and users are advised to contact their chosen bank/ financial entity directly for the updated information.

Articles sources

• 1. The Philippines’ economy in 2023 | McKinsey
• 2. Filipinos buying more from ‘sari-sari’ stores | Inquirer Business
• 3. Philippine: mobile subscribers count 2022 | Statista
• 4. This Filipino Entrepreneur Started a Cafe Franchise With a Capital of Only P6,000 (esquiremag.ph)
• 5. Philippines Food and Grocery Trends 2022 | Grab PH
• 6. 2021FISToplineReport.pdf (bsp.gov.ph)
• 7. Philippines: new car registrations 2022 | Statista
• 8. 2023 Global Digital Report (meltwater.com)
• 9. YouTube Partner Program overview & eligibility - Computer - YouTube Help (google.com)
• 10. Monetize on TikTok | TikTok Help Center
• 11. Earn money | Meta for Creators (facebook.com)
• 12. Negosyo | Department of Trade and Industry Philippines (dti.gov.ph)
• 13. Go Negosyo - Enabling Competitive Filipino Entrepreneurs

Digido Reviews

Download our app.

• Borrowing 24/7
• Approval rate over 90%

Post navigation

Bigasan Business 2024: How To Start, Capital, Profit (Plus, Tips To Succeed)

Rice has been a staple of the Filipino diet since time immemorial . Therefore, opening a bigasan business or a rice retail business in the Philippines can be a profitable venture for you if the conditions are right.

As with any other food business, there are two ways to make this happen. Either start your own rice retailing business or franchise an already-established brand .

Each has pros and cons, so you should weigh your options carefully before venturing into this type of business.

Let this short article be your guide.

Table of Contents

What is a bigasan or rice retail business.

A bigasan is a retail store that sells a variety of rice. In the Philippines, this is typically done through a simple storefront where bags of rice are opened as a display for customers. The name of the variety of rice and the corresponding price are shown on each bag.

Customers need only tell the store’s staff what variety and how much rice they buy. The staff will then put the requested amount in a bag and weigh it before the customer. After the customer pays for it, then the transaction is complete.

There are specialized rice businesses that sell only rice, but there are also retail outlets, such as sari-sari stores , that carry rice as part of their selection of products.

Bigasan Business at a Glance

How much capital you need to start a bigasan business depends on your business model. Capital investment may start from ₱50,000 (retailer) to ₱300,000 (franchise).

2. Customers

Residences, restaurants, hotels, and other establishments that sell rice meals.

3. Competitors

Usually, just other rice businesses. The supermarkets have a different client base since rice from supermarkets is usually at least 50% more expensive.

4. Who Is It For?

People who prefer to run a simple retail store with an already established market.

5. Pros & Cons

• Steady demand since Filipinos eat rice every day
• It requires minimal marketing because consumers are already familiar with the product
• Straightforward business with the potential to make a living out of it
• Rice is vulnerable to pest attacks, especially if stored improperly
• The quality of rice deteriorates after three months; it spoils easily
• Challenging to be different from competitors aside from the price

How Does a Bigasan or Rice Business Make Money?

Rice businesses typically buy their rice bags from a wholesaler. They then add a markup or “patong” to the cost of the rice. After that, they decide the price per kilogram to sell the rice to their customers. Whatever they earn from selling the rice becomes the income from the rice business.

Note that having a sizable margin is challenging unless you buy in bulk. That’s why it’s typical for a rice business to have a high capital requirement.

Where Can I Find a Rice Supplier?

If you are not getting a franchise, you must find a rice supplier yourself. This could be a wholesaler, a rice mill, or a farmer. You are more likely to know the best places to get rice if you search your area. However, here’s a quick list of well-known rice suppliers in the Philippines:

• DanJethro Grains by A&V Rice Mill – an independent rice mill in Mapandan, Pangasinan, operating since 1993.
• Wil-Lys Cereal Trading Corporation – located in Solana, Cagayan. They sell many varieties, including export-quality rice.
• JDL Nueva Ecija Rice Dealer – also known as Jorem Palay Buying Station, this supplier has been selling farm-fresh rice from Lupao, Nueva Ecija, for 30+ years.
• Primavera Rice Mills – selling quality rice for 46+ years now; among the top rice suppliers for restaurants and fast-food chains in Metro Manila. They are located in Guiguinto, Bulacan .
• RMR Rice Mill – is a popular wholesaler among rice retailers. They are located at Wakas Intercity, an agricultural bagsakan , in Bocaue, Bulacan.

If there is no viable rice supplier in your area, you may want to look for a franchise instead. Here’s a quick list of rice retail franchises you can contact:

• GRAINSMART – has more than 800 franchise branches nationwide. Aside from rice, they also have gas and water refilling business franchise packages. Their head office is located in Quezon City, Metro Manila.

Update: Bigasanko.com has been removed from the list due to an inactive social media page.

How To Start a Bigasan Business in the Philippines: 9 Steps

1. research your market and competitors.

You can’t expect to start a bigasan or rice retail business and succeed right away. You first need to know about your area’s potential customers and competitors.

Find out the typical kinds of rice people in your area buy. How much do they pay for it? If you do start a rice business, then can you also sell it at the same or a cheaper price?

Next, you need to learn any information you can about your competitors. How many are there, and where are they located? If there are too many rice retailers, you may want to rethink starting one yourself.

2. Choose a Location Frequented by Your Target Market

Find a location where it’s convenient for your customers to buy from you. Examples would be groceries or wet markets ( “palengkes” ) where people are already conditioned to buy rice.

You also have to ensure enough space to store and display the sacks of rice in your chosen location. It’s also ideal that you can keep the rice there safely so the product will be protected from heat, pests, and even floods.

3. Choose the Right Rice Supplier

With your research in hand, you now have to find a supplier for the rice typically bought in your area.

You have the option to:

• Find a wholesaler or rice mill that can deliver to your area
• Become a rice business franchisee

List all available suppliers and cultivate a long-term relationship with them. This way, you can avail of discounts when buying in bulk and provide your customers with a wide variety of rice.

Your goal is to get a price to remain competitive in your area. If you can find an excellent supplier, starting a rice retail business will be much cheaper than becoming a franchisee.

However, becoming a rice business franchisee has benefits that justify the additional cost. They already have an established way of getting a rice supply, so getting started’s much easier. You can also learn how to run a successful bigasan from them.

4. Secure a License From the National Food Authority (NFA)

Once confident that you can successfully run a rice retail business in your chosen area, you must start with government compliance .

The law states that the National Food Authority (NFA) must approve every corn or rice business in the Philippines, whether commercial or NFA rice/corn.

If you plan to open numerous outlets, you need one license for your primary/principal store. All other outlets will be considered as branches.

To get the license, go to the NFA office that has jurisdiction over where you plan to establish the rice business in the Philippines.

Get the application form from the licensing officer (LO).

Submit the accomplished form and pay the application fee of ₱100. The license fee varies depending on your capital.

5. Ensure That You Have the Required Equipment and Facility To Start the Rice Business

An NFA personnel will personally visit your store to check for the following:

• Calibrated weighing scale
• Price tags (the price of the rice per kilogram)
• White-painted rice boxes
• Signboard (45 cm wide and 75 in long) showing your business name, NFA control number, and the words “Licensed Grains Retailer” or “Wholesaler”
• Classification, variety, and grade of the rice grains you’re going to sell

Once approved, the NFA inspector will issue you a notice of inspection. Bring this with the official receipt and proof of compliance with deficiencies (if any) to the NFA office to get the license.

For franchisees of Grainsmart , you don’t need to file for a license because it’s already included in their packages. The downside is that you need to shell out higher capital to start the franchise business –a minimum of ₱298,000 for Grainsmart.

6. Register Your Business

Register the bigasan business with the Department of Trade and Industry (DTI) if you’ll operate it as a sole proprietorship or the  Securities and Exchange Commissions (SEC) for rice businesses run by a partnership or corporation.

You must also register with the BIR and get a business permit from your municipal or city hall. After that, your business registration is complete. Just note that you must file monthly, quarterly, and annual taxes . You also have to pay fees to your LGU quarterly or annually.

7. Set Up Your Bigasan & Store Your Rice Properly

Taking care of your rice starts from the supplier and ends only when your customers buy it. When transporting rice, separate it from other goods and make sure they’re all appropriately covered. 

Otherwise, prolonged sun exposure will cause the rice to lose moisture and shrink by up to 3%. The insufficient covering may also expose it to flying weevils ( bukbok ), especially if the transport vehicle passes by rice fields.

Once it arrives at your store, handle it with care. Don’t throw the rice bags, or the grains might break.

Keep the storage space clean and sanitized to prevent infestation of rats, molds, weevils ( bukbok ), and other pests.

Use the “first-in, first-out” inventory method to ensure that every sack of rice sold is high-quality and doesn’t exceed its shelf life. Remember, rice quality decreases significantly after three months. Any rice that spoils will dramatically impact the profitability of your rice business.

8. Promote Your Bigasan

You should know what’s essential for your customers when choosing a bigasan. Communicate that you can deliver that critical benefit.

You can be as creative as possible when promoting your bigasan locally and online. Talk to your neighbors—partner with other businesses. Join chat groups for the local community. 

There are many ways to promote a bigasan business. As long as your target customers are there, you should also promote there.

9. Be Strict With Your Inventory & Records

A common reason why a rice retail business might fail is because of poor inventory and record management. A few kilograms of lost or damaged rice can wipe out more than a day’s worth of your income.

So make sure to be very strict in taking care of your inventory. You should also record everything that goes in and out of your store. 

If you don’t know how to do your records correctly, you can use the template for the sari-sari store inventory and sales record provided here . It’s the same concept, but you only have to list down your rice’s different varieties, brands, and weights.

Tips & Warnings

• Set aside a regular budget for the rice supply. Some dealers won’t deliver rice to retailers unless they order a minimum amount of rice from them.
• Try to avoid selling any rice on credit, especially for residential clients. It might be unavoidable for business clients; however, deal only with reputable businesses. Bad debts can severely impact your operations.

Go back to the main article: Best Small Business Ideas in the Philippines with High Profit 

Written by Rod Michael Perez

in Business and Finance , Juander How

Last Updated May 3, 2024 11:34 AM

Rod Michael Perez

Rod Michael Perez is a freelance writer with over 7 years of experience in writing long-form articles, ad copy, and SEO content for local and foreign clients. He is also an aspiring startup founder and believes that the Philippines could be the next hub for startup culture. He takes care of his dog, a poodle-Shih Tzu hybrid, in his spare time.

Browse all articles written by Rod Michael Perez

Copyright Notice

All materials contained on this site are protected by the Republic of the Philippines copyright law and may not be reproduced, distributed, transmitted, displayed, published, or broadcast without the prior written permission of filipiknow.net or in the case of third party materials, the owner of that content. You may not alter or remove any trademark, copyright, or other notice from copies of the content. Be warned that we have already reported and helped terminate several websites and YouTube channels for blatantly stealing our content. If you wish to use filipiknow.net content for commercial purposes, such as for content syndication, etc., please contact us at legal(at)filipiknow(dot)net

Tax Planning Tips for Small Business Owners in the Philippines

When you run a small business in the Philippines, staying on top of your tax obligations is not only a legal requirement but also a crucial aspect of managing your finances effectively. Proper tax planning can help you reduce your tax liability, maximize deductions, and ensure compliance with the country’s tax laws.

In this article, we’ll explore essential tax planning tips to help small business owners navigate the complex world of taxation in the Philippines.

1. Understand the Tax Types

The Philippines has several types of taxes, including income tax, value-added tax (VAT), percentage tax, and local taxes. It’s essential to understand which taxes apply to your business based on its structure and activities. Consult with a tax professional if you’re unsure about your tax obligations.

2. Register Your Business

Ensure that your business is properly registered with the Bureau of Internal Revenue (BIR). Failure to register can result in penalties and legal issues. Depending on your business structure, you may need to obtain a Certificate of Registration (COR), a Taxpayer Identification Number (TIN), and other permits.

3. Keep Accurate Records

Maintain meticulous financial records, including income, expenses, receipts, and invoices. Good record-keeping is the foundation of effective tax planning. It helps you track deductible expenses, report income accurately, and provide documentation in case of a tax audit.

4. Choose the Right Tax Regime

Small businesses in the Philippines have options for different tax regimes, such as the Value-Added Tax (VAT), Percentage Tax, and Income Tax. Carefully evaluate which regime is most advantageous for your business based on its size, revenue, and industry.

5. Take Advantage of Deductions

Be aware of the allowable deductions and exemptions that can reduce your taxable income. Common deductions for small businesses include employee salaries and benefits, rental expenses, and depreciation of assets. Familiarize yourself with these deductions to minimize your tax liability legally.

6. File Taxes on Time

Meeting tax deadlines is crucial. Failure to file or pay taxes on time can result in penalties and interest charges. Mark your calendar with important tax dates and ensure compliance with the BIR’s requirements.

7. Seek Professional Guidance

Consider hiring a certified tax professional or accountant who specializes in Philippine tax laws. They can provide expert advice, help you navigate complex tax regulations, and ensure you take advantage of all available tax-saving opportunities.

8. Review Your Business Structure

Evaluate whether your business structure (sole proprietorship, partnership, corporation, etc.) is still the most tax-efficient option as your business grows. Changing your structure can have implications for your tax liability, so consult with a tax professional before making any changes.

9. Monitor Changes in Tax Laws

Stay informed about updates and changes in Philippine tax laws and regulations. Tax laws can evolve, and staying up-to-date ensures that your tax planning strategies remain effective and compliant.

10. Plan for Retirement and Estate Taxes

Consider long-term financial planning, including retirement and estate taxes. Planning for the future can help you minimize tax liabilities for your heirs and ensure a smooth transition of your business when the time comes.

In conclusion, effective tax planning is essential for small business owners in the Philippines. By understanding your tax obligations, keeping accurate records, and seeking professional guidance, you can optimize your financial situation and ensure compliance with tax laws. THRIVE Global CFO is here to support you in your tax planning and financial management endeavors. With the right strategies and expert assistance, your small business can thrive while minimizing its tax burden.

Subscribe to our newsletter

to keep up with our freshest business insights!

Check your inbox or spam folder to confirm your subscription.

Share this:

Copyright 2024 – THRIVE Global Business Advisors, Inc.

Free Printables Philippines

Table of Contents

Business Plan Philippines

Are you looking to download a free small business plan Philippines pdf?

Filipino Wealth has created a free business plan template that you can use when starting a business in the Philippines.

Includes Product & Service Analyst, Market Research, Financial Forecasts, Business Strategy, Competitor Analysis, and more.

Financial Planning Philippines

The financial template is perfect for small and start-up businesses in the Philippines looking for a simple guide to business finances.

The template explores sales, returns, net sales, gross profit, wages, rent, total expenses, and other important financials

Marketing Template Philippines

Marketing is increasingly popular for businesses in the Philippines.

Therefore, this handy marketing plan can help small businesses prepare and manage their financial strategy.

In the template, you will find several marketing options, financial estimations, dates, additional questions, and added extras to help your business market in the Philippines.

Printable Planners

4.1 goal planner, 4.2 daily planner, 4.3 weekly planner.

The weekly planner file can be downloaded below.

4.4 Monthly Planner

4.5 research planner, other printabletemplates, 5.1 habit tracker.

The habit tracker file can be downloaded below.

5.2 To-Do List

The to-do list file can be downloaded below.

5.3 Sales Record