Filipinos frequently quit their 9 to 5 jobs in order to start their own businesses.
The country’s 1,700 registered online businesses have increased to 1 million since the COVID-19 pandemic began.
As a matter of fact, as of June 2022, 1.5 million Filipinos were self-employed or also known as freelancers.
Additionally, nearly 9% of all firms in the Philippines are small businesses; after all, many Filipinos desire independence and time management.
Maybe now is the right moment for you to start looking into those small business opportunities.
But, before starting a business, you must take your skills, target market, and funding into account.
However, if you want to jump-start your goal of working for yourself, you may look into some profitable business opportunities.
Without further ado, let us get started and learn more about building and starting your own small and profitable business in the Philippines!
Top 10 best profitable small businesses in the Philippines
To start, we’ve compiled a list of the top 10 most successful small businesses in the Philippines, all of which have affordable startup costs and high monthly revenue.
Make sure to read all the way through to the end in order to discover more about these small businesses.
1. Coffee Shop
A small coffee shop or stand may be launched for as low as PHP 5,000 – but a barista is required to run it.
Build a coffee nook in your garage or place a coffee stand in front of your home.
You’ll want a professional espresso machine, ideally a semi-automatic one, to start up your home-based coffee business.
Online retailers provide a large selection of used furniture and equipment for coffee shops.
It’s a simple and affordable way to make your dreams come true.
- Capital: PHP 5,000 – PHP 150,000
- Monthly Revenue: PHP 30,000 – PHP 60,000
2. Online Selling
Online selling is a successful Filipino home business concept that is ideal for new business owners.
You would require a computer, an internet connection, a platform for online sales, and goods to sell.
Popular shopping websites like Shopee, Lazada, and Facebook Marketplace exist in the Philippines where you may simply sell your goods.
You might also want to try dropshipping if you lack the funds to start an online shop.
Dropshipping involves receiving an order, sending it to the supplier, and having the supplier complete the order.
- Capital: PHP 5,000 – PHP 10,000
- Monthly Revenue: PHP 10,000 – PHP 200,000
3. Convenience Store
The notion of starting a convenience store is not new.
Our everyday life has always included this small store that carries practically everything.
If you have enough room in your house for a small store, it’s one of the most successful business ventures to take into account.
Depending on where you live, you might make up to PHP 15,000 each day.
A convenience store may be a tremendous source of revenue when run well.
- Capital: PHP 10,000 – PHP 30,000
- Monthly Revenue: PHP 50,000 – PHP 100,000
4. Printing Services
You may benefit from the development of the printing sector in the Philippines over the past ten years to support your negosyo proposals.
Filipinos have utilized printed goods like tarpaulins, cards, posters, and personalized things in the Philippines for events like birthdays, weddings, campaigns, and the like.
- Capital: PHP 10,000 – PHP 50,000
- Monthly Revenue: PHP 50,000 – PHP 100,000
For those who are unfamiliar, AirBnB permits owners of homes and condo units to charge visitors to stay in their premises.
Their popularity has been rapidly increasing over the past several years since they are substantially less expensive than staying in a hotel.
You may want to look at this one if you have the space.
- Capital: None (if you have your own fully furnished space or room)
- Monthly Revenue: PHP 20,000 – PHP 60,000
6. Food and Beverage Business
Families that eat meals together tend to stay together; Filipinos like dining out.
You can thus depend on Filipinos’ passion for delicious cuisine to drive demand whether it be for a basic local cafe or tapsilogan.
You may sell a range of foods, from traditional favorites to afternoon snacks, with a food and beverage business.
Lugaw, palabok, puto, biko, fishballs, kwek-kwek, banana-cue, and more Filipino favorites are available for sale.
This is a business concept that can surely be successful if you’re in a good location.
- Capital: PHP 10,000 – PHP 20,000
- Monthly Revenue: PHP 30,000 – PHP 50,000
7. Rice Retailing
Rice is a staple food in every Filipino’s diet, if not every meal.
Having your own “bigasan” ensures that you will always have clients because it is the national dish of the Philippines.
A capital investment of PHP 75,000 to PHP 120,000 is needed for this small business concept.
Additionally, you need to get the required government registrations and permissions, as well as a license from the National Food Authority (NFA).
- Capital: PHP 75,000 – PHP 120,000
- Monthly Revenue: PHP 200,000 – PHP 500,000
8. Baking Business
If you enjoy preparing treats, you might want to think about opening a bakery.
For only PHP 3,000 to PHP 5,000, you may establish a shop, assuming you already have the necessary equipment.
If you still need to buy baking equipment, this capital can reach as high as PHP 50,000.
You may sell cakes, cupcakes, pandesal, and other sweet treats.
Additionally, you may accept special orders for different occasions.
- Capital: PHP 3,000 – PHP 50,000
- Monthly Revenue: PHP 20,000 – PHP 70,000
9. Beauty Products Reselling
By 2023, the Philippines’ beauty business, currently valued at 152 billion PHP, is expected to grow to 213 billion PHP.
You may start retailing beauty goods with as little as 5,000 PHP in capital.
People will flock to you for their cosmetic needs or to make money for themselves.
- Capital: PHP 5,000 – PHP 20,000
- Monthly Revenue: PHP 40,000 – PHP 70,000
You may launch a home-based e-loading business for as little as PHP 5,000.
You may make money selling loads by receiving commissions of between 3% to 13% every transaction.
It might not be much, but if you’re not ready to leave your full-time work, it’s a great side-hustle option.
- Capital: PHP 5,000 – PHP 7,000
- Monthly Revenue: PHP 10,000 – PHP 15,000
How can I fund my Philippine business?
Have insufficient savings to support your small business, or you don’t have much time to wait for money to come around?
Some ways to think about are listed below:
Benefits from the Government
If your business meets the requirements set out by SSS or GSIS, you may also borrow from them.
Borrow money for the meantime to a family or friend
If you lack the personal resources to generate the financing your business requires, you can borrow from friends or relatives.
However, use caution since when money is involved, things may get awkward among close relatives and friends.
So be careful not to allow this to lead to any miscommunication.
Asking for a loan from a bank could be a better option if you don’t want to run the risk of damaging your ties with close relatives and friends.
Choose the bank that best meets your demands because each one has various terms and conditions.
Sell your assets
If you own a home, a piece of land, or even a car, you might want to think about selling assets so you can raise money for your startup.
If you only need a little extra cash to finish funding your business, there is a different alternative you might look into.
However, because you’ll be working with additional investors in your business, be careful to distribute their shares fairly to prevent misunderstandings.
P2P lending and crowdfunding
As a cost-effective alternative, you might check into P2P lending, which enables you to borrow money at a cheaper interest rate.
You may also use crowdfunding websites as they have already been successful in funding a number of excellent business ideas.
What business can I start with 1k in the Philippines?
You may get a step closer to financial freedom by starting a business.
However, other people contend that they didn’t open a business because they lacked the necessary funding; that mentality is incorrect!
There are actually many company concepts that you may launch for less than PHP 1,000.
For as little as PHP 1,000, you may establish the following small businesses that you might want to try:
- freelancer services business
- longganisa business
- plant business
Which business is best for beginners?
The most challenging part of starting a business for the first time is deciding on the correct business concept.
Allow us to lead you to a list of chances to investigate and launch your own business.
Companies are now looking to recruit virtual assistants to support them with services that they provide remotely.
It is a well-paying, simple home-based job.
You must do simple duties such as reading emails, returning phone calls, making a to-do list, and updating calendars.
At the moment, blogging is the most profitable legitimate way to make really big money online.
It is simple to get started and does not require a large investment.
Aside from Google Adsense profits, you will have the opportunity to work with advertisers and affiliates.
Choose a niche, a few topics, and then begin writing about them.
Social Media Manager
Smaller firms frequently require social media managers to handle their websites and social media accounts, and the position does not require you to be a professional social media specialist.
It’s also a well-paying career if you can give them solid leads.
You may put your expertise to work by bringing in conversions to assist firms manage their social media accounts.
Tutoring is a lucrative and simple business to start.
You can make a lot of money if you are adept at explaining things to others in a straightforward way. You don’t need to be an expert in any area, simply skilled at communicating.
You may also provide tutoring services from the comfort of your own home.
Given the demand, party services are highly profitable.
Individuals frequently desire to have a party but fail to properly organize things.
While you don’t need many of the items, getting started is quite simple when compared to other event services.
You will assist your clients in properly executing parties and events by providing whatever they want.
How do you start a business with no experience?
Here are a few easy recommendations to get you started building your own business with little expertise and no money:
Avoid unnecessary expenses
If not initially, as your business starts to expand, you’ll have a number of expenses. Avoiding unnecessary expenditures is the easiest method to save money.
What do you know?
You don’t have to rely on outside help every step of the process, which removes one source of expenditure.
Instead of moving into an uncharted area, build your business on your existing abilities and expertise.
Building a business is simple since information is sometimes all that is required to effectively venture into entrepreneurship.
The ideal technique to build buzz for your business without spending a lot is through social media.
Today, several small and large companies can be found on platforms like Instagram, Facebook, LinkedIn, and Twitter.
In addition to being completely free, advertising on these platforms enables you to immediately connect with and engage with your target market.
Willing to put in the hours
To ensure the success of anyone’s company, the owner of a small or medium-sized firm must manage all aspects of operations, from product creation to marketing.
Any firm needs to put in a lot of effort, but those without the funding to hire a staff especially need to.
What are the Best Profitable Small Businesses in the Philippines?
These are just a few ideas if you wish to start your own business.
Always keep in mind that the finest concepts for small businesses are those that have a track record of success.
If you have an original concept that was motivated by your interests and passions, consider turning it into a home based business.
At the end of the day, you are aware of the business that will provide you contentment, joy, success, and stability.