ENTREPRENEURSHIP – Here are some of the profitable small business ideas in the Philippines that starting entrepreneur should know.
“Business” refers to the organized activities of individuals, organizations, or companies with the primary aim of producing, buying, or selling goods and services to meet the needs of customers and make a profit.
In the business world, various individuals engage in economic transactions, contributing to the overall functioning of local, national, and global economies. Most business establishments operate with the goal of making a profit.
Profit is earned when the revenue generated from selling goods or services exceeds the costs spent in producing or providing them. Businesses can take various forms, from small, independently owned enterprises to large corporations.
Starting a business can be an exciting journey, but it’s important to study the process wisely. Aspiring entrepreneurs should think about what they love to do to enjoy the process. Thinking of a good business idea is the first thing to do.
Understand who your customers might be, what they need, and who your competition is. This information will help you shape your business and make it stand out. It may help to shape the business.
Here are some effective small business ideas in the country that you should consider:
Street Food Business
You may provide people with delicious local treats for as little as P5,000 to P10,000 with an investment of that amount. Fish Balls, Squid Balls, Kwek-kwek, Tokneneng, Barbeque, Bannana cue, Turon, Pancit Malabon or Palabok, Buko Pandan, Ginataang Bilo bilo, and Maruya are good options.
Buy and Sell
Buying and selling have been established for quite some time and can be started with as little as P5,000 to P50,000. This allows you to obtain things that you can later resell for a profit.
Ukay-Ukay
Ukay-ukay is an excellent spot to browse for gently used clothing in good shape. It benefits the environment because you are not purchasing new clothes that will wind up in landfills. Starting off can cost anything from P10,000 to P50,000.
Sari-Sari Store
You may locate this small store anywhere in the Philippines. In addition to snacks and a wide variety of everyday necessities, it’s a terrific way to meet new people. The best thing is that starting one doesn’t require a large initial investment; usually, P10,000 to P50,000 would do.
Milk Tea Business
Consider opening a milk tea cafe if you prefer to create unforgettable experiences in addition to beverages. The wonderful thing about milk tea is that its appeal never wanes. In addition, when Filipinos are in the mood for something to eat or drink, they often find it difficult to resist a cool cup of milk tea.
Homemade Baking Business
It is possible to launch a successful home-based baking business and pursue a passion at the same time. You can spread the aroma of your handcrafted treats to customers outside of your physical location with initial expenses of P5,000 to P20,000 for ingredients and packaging materials.
