If you have saved 5000 pesos in the Philippines, you will most likely wonder what the best small businesses in the Philippines with 5K capital are. Today, we will provide you with the answers to these questions and go over some handy tips and other FAQs you may have.
Small Businesses In Philippines With A 5k Capital
Become An Online Content Creator
The first small business idea in the Philippines with a 5K capital is content creation. As the name suggests, content creators create content such as videos on YouTube, articles on websites, and audio on podcasts.
The way Filipinos are searching for information has changed; YouTube, the world’s second-biggest platform, has now opened up many opportunities for Filipinos to earn money online, which means many bloggers and content creators are turning to YouTube to start a small business in the Philippines with a 5k capital.
Alternatively, content can reach other areas, such as developing a course. Many Filipinos have earned money from creating courses from just their laptop and their cell phones. One of the biggest fears for many people is getting started as it can sometimes feel that you have nothing to offer, but think about it this way…you are an expert in your personal experiences.
In other words, if you have experience with Filipino food, building muscle, eating healthy, or any other topic, you can turn this into multiple streams of content that can be featured on videos, articles, or podcasts.
Start Affiliate Marketing In The Philippines
What is affiliate marketing in the Philippines? Affiliate marketing is a fancy word for a referral agent. For example, you run a website or have an Instagram page where you often talk about fitness. Then, you could decide to become an affiliate marketer, so you can receive a commission for every new lead or sale generated when you refer your audience to a product.
Affiliate marketing in the Philippines is not a new topic. Still, it is one of the best small businesses in the Philippines with a 5K capital as often this business can be started very simply. The most important thing about affiliate marketing is that you can build a loyal audience.
Becoming an influencer on Instagram is also another form of affiliate marketing; however, you often get paid whether you generate sales or not with influencing. Affiliate marketing, on the other hand, typically only pays somebody who has made a purchase.
Become A Freelancer In The Philippines
There are a lot of different freelancing opportunities across the Philippines at this very moment. If you have a natural talent or learn a certain skill, then it is possible to start a successful freelancing business.
In the Philippines, many freelancers start by offering services on websites such as PeoplePerHour and Fiverr. This is a great way to start building your business as it offers very low risk for beginners. However, if your industry does not fit into the niches on the above websites, social media is a great way to build your online presence.
Start Personal Instruting
Personal instructing is very similar to freelancing, but being a personal instructor often coaches an individual to reach a certain goal. In contrast, a freelancer is tasked to complete a certain duty. So, what personal instructing can you do?
When I stayed in Cebu City, I met several instructors who taught English to Chinese and Korean travelers. I also ran into an instructor who offered online experiences on Airbnb. These instructors were earning a very good salary, and both started from scratch with no financial support. Nevertheless, your passion can be turned into a successful business with careful planning if a market is available.
If you wonder what the best business in the Philippines with a 5K capital is, you are most likely aiming to keep your expenses low, which is a super smart idea. Therefore a good strategy would be to embark on free marketing; this could include offering others a commission if they can send customers your way, or you could use social media to promote your services.
Open A Small Bookkeeping Business In The Philippines
Bookkeeping is another amazing small business idea in the Philippines with a 5K capital, as it’s one of the most popular outsourcing tasks! When I was in the process of opening up an outsourcing call center, I spoke to many clients from around the world, and one of the most popular questions was; do you offer an accounting service?
The downside to bookkeeping and accounting is that you will need an accounting qualification to work with many businesses in the Philippines; however, on the plus side, there are very few requirements to becoming a junior, and some decide to offer customers basic accounting tasks while they are studying.
Suppose you are a freelancer, on the other hand, working with companies from outside of the Philippines. In that case, requirements may be slightly lower as some countries do not need professional qualifications to complete their accounting needs.
Start A Writing Business For 5K Pesos
If you are looking to become a writer in the Philippines to earn a full-time income from work from home, I would recommend reading our latest article! In this article, we show exactly the step-by-step process that is needed to achieve this.
The reason why this is a hot topic currently is because writing is another in-demand service. This can be anywhere from a novel to a news article on a website. The great thing about this small business in the Philippines with a 5K capital is that you can work from anywhere in the world as long as you have a laptop and a stable Internet connection.
When setting up this business in the Philippines, finding the right clients is important, which is not always an easy task. However, several valuable writing groups for Filipinos on Facebook have great insight from fellow writers who share their experiences and questions with the community.
Launch A Web Development Business
Our last small business idea in the Philippines with a 5K capital is a growing business that we call web development and programming. Currently, this industry is exploding, and there is a lot of profit to be had.
Getting started can sometimes be slightly tricky; however, starting a web development or programming business in the Philippines can be a great idea compared to its possible profit.
You may have to spend a slight amount of money on certain systems and software that you will need depending on the type of programming and development you are going to focus on. WikiHow has got a great article that covers the steps needed to open up a software company.
What Is The Best Small Business To Start In The Philippines?
The best type of business is a business that has longevity. A Filipino food channel or a fitness website are examples of businesses that have longevity. Moreover, these examples can be started and maintained with little cost, which results in them becoming the best businesses to start in the Philippines.
These are just two examples of possibly hundreds you could choose from. As a more in-depth answer, the best small businesses to start in the Philippines are scalable businesses and generate repeat business while solving a specific problem the consumer has.
A Filipino food channel is scalable as it can be formatted on many different platforms. It can also drive repeat business as chefs worldwide, and Filipinos would love to learn more about cultural dishes. Lastly, it solves a problem which could be something such as how to cook a certain meal or how to cook a Filipino meal for 100 people, etc.
When you decide to start up a small business or look at the best small businesses in the Philippines for a 5K capital, it’s always recommended to build your business around your customers. What do they need, what would be valuable to them? How can you make their life easier?
What Are The Best Small Businesses In The Philippines With A 1k Capital?
Similar to a few ideas we have mentioned today, individual businesses in the Philippines can be started with 1000 pesos or less. These businesses can often be created for next to nothing but will require a considerable amount of time. An example of this is content creation. (YouTube, Blogging, etc.) This is because, as an online business, the expenses and maintenance fees will remain low.
As long as you bring high-quality content and deliver the information that people need in a suitable format, then there is no reason your small business with a 1K capital should not grow.
Are There Any Business Tips For Beginners In The Philippines?
After looking at the best businesses in the Philippines with a 5K capital, you may wonder if there are any business tips for beginners in the Philippines, and thankfully, there are!
Focus On The Money: When starting your business in the Philippines, it’s vital to focus on areas that bring you money. It’s a great feeling to have thousands of followers on Instagram or Facebook, but if they do not bring you in any money, it will not result in business growth. The goal is to become successful, not to look successful, which is not always an easy thing to hear.
Keep Solving Problems: Let’s take the famous Jollibee Corporation. Initially, you may not think it solves a problem, but Jollibee solves many problems. First, it offers its customers cheap fast food, which is tailored to Filipino culture. This is one of the reasons why Jollibee has grown to be dominant across the Philippines.
Start Small: Some of the biggest businesses today, such as Amazon, Apple, and Google, started very small (even Jollibee started by selling ice cream!). Therefore, if you are starting small, then don’t worry, get the small things right first, and then they will lead you onto the bigger things.
Conclusion: Small Businesses In The Philippines With A 5K Capital
Today we have gone through many different businesses that you can start with only 5000 pesos. So let’s take a look at some more information below.
|Small Businesses In Philippines With A 5k Capital||Is It Difficult To Start?||Is It Scalable?||Can Earn Money Straight Away?|
|Bookkeeping & Accounting||NO||YES||YES|
|Web Developer & Programming||YES||YES||YES|
As you can see from the chart above, certain things are more difficult to start than others, and some small business ideas in the Philippines with a 5K capital can start to earn money straight away.
There is an old story about a man in the forest. He tries to chop down 100 trees, but he only uses his ax 100 times ( 1 swing per tree); therefore, no tree falls. The next day he decides to focus on one tree and swing 100 times, and the tree falls.
This metaphor can also be applied to business. For example, if you continuously go in a different direction and change your course, you can stop just before becoming successful. In other words, it’s wise to focus on one direction and be consistent with your actions.
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