Easy to Start a Business in the Philippines
Three top entrepreneurs were guest speakers at the Entrepreneur Magazine Philippines Booklet Launch at PowerBooks, Greenbelt 4, Makati City. Tito Jose of Brothers Burger, Christopher Tan of Ideal Minds Corporation and Jean Gonzales of MTC Academy gave their insights on entrepreneurship.
When asked about the business climate in the Philippines, all three entrepreneurs agreed that it is relatively easier to start a business here compared to other countries. Christopher Tan came from Canada. He said that it was less restrictive here in Manila. The lack of self-esteem, he claims is what has been hindering a lot of Pinoys to even try. Jean Gonzales says it is actually the ?easiest place in the world to start a business.? For very small capital, anyone could easily try to make it on his own. Tito says he and his brothers didn?t even think of starting a business anywhere else. He nodded at the views of Chris and Jean.
Listening to them, I felt rather inspired by their insights. I asked them the traditional question of how they came up with their initial capital for their businesses. They told us some rather interesting stories.
Tito Jose says they started the business in Ortigas, Pasig. He was a chef by profession and had some of his burgers taste-tested by friends and family. He had good feedback. Soon, he and his brothers were able to get financial support from their folks. He funnily explains: “Basically, we begged.”
They were able to get an initial investment of P250,000 (Almost US$4800). They were able to get some patrons for a nearby school. He told one student “fill up my restaurant with people and I’ll give you a Pounder (one pound burger). He recalls they their first weeks income – P40,000.
He says that they were quite chaotic when they first started. These days they have a professional handle the daily operations. They have a General Manager who came from an international company improve their business workflow.
Personally, I thought it was a rather smart move on their part, since family businesses can be quite daunting. Emotions sometimes get in the way. Tito says they have come to respect each other and this helps a lot.
Christopher Tan of Ideal Minds describes how he had an idea for television show. He approached some of the big media production shops. Those who were interested asked him, “Do you have a sample?”
He’d say “Wala. (None)”
But that didn?t deter him. He approached some people from the Probe Team and convinced them to help him out. He was also able to get a Video-Editing shop to support his projects on very good terms (edit now, pay one year later). Lacking only a camera, he got one using a credit card.
He started his first television show and somehow, that started it all.
Chris says entrepreneurs simply have to be prepared. When he started, he had some partners with him. They left after seeing that they were losing money in the first six months. To him, the financial drain was really expected. Luckily, he persevered.
Now, Ideal Minds is the only small media production group with primetime shows. The other two media producers are giants ABS-CBN and GMA.
Jean Gonzales of MTC Academy was rather candid and articulate. He?s considered a pioneer in the Medical Transcription business here in Manila. He was able to get into this big business by starting out in smaller investments. Jean recalls how he started off with only P68,000. He began with a sma
ll software development firm. He took off from there, reinvesting his income until he got bigger and bigger.
I asked him why his business is booming. The Medical Transcription business, he explains, is based on the U.S. Health Care business ? which is a 16-23 Billion Dollar (a year) industry. He claims there is a Three Billion per year requirement for medical transcriptions. They have only touched the tip of the iceberg. (I didn?t really understand what he meant by this, but it was sufficient to make me say ?Wow. That?s a lot of money.?)
Jean now jests on how, on one instance, he had only P7,000 left in his bank account. He prayed to God to help him out. He took a leap of faith and said ?I leave this all up to You.? Right after that, his cell phone rang. It was a business opportunity. This led to other business openings, which has taken him to where he is now. He set his worries aside and somehow managed to really make it through.
MTC Academy now has 23 locations in the country.
The inputs of the three entrepreneur speakers were really inspiring. The talk lasted for only 2 hours but I felt that a lifetime of entrepreneurship experience was already shared. It made me wonder why a lot of Pinoys still seek fortune elsewhere when opportunities seem to be found right here in the Philippines.
I have been looking up..researching…searching for the best business to put up…even up until now I can’t seem to make up my mind. My business must be what i like..that really inspires me…and also something that people would crave about because its something new. I don’t have much big capital..sigh! But reading these testimonials whew! it really makes me want to grab the chance now…or never! I just would like to ask Jean Gonzales on how she started her business. Did you have to go to doctors clinics to market ur product? Please do tell, I’m very much eager to learn and maybe I can do it at home while watching over my daughter Thanks! It will help a lot.
I think one of the tricks is to ‘just do it.’ One entrepreneur friend of main puts it simply. Insted of the traditionaly ready-aim-fire method, he suggests doing ready-fire-aim. Go into a business, try it out and learn from it. Statistics say that 1 out of 10 businesses succeed. If you follow that rule, just make 10 businesses. :)
It’s Jin Gonzalez (full name is Eugenio Gonzalez). He has the propensity for hyperboles but most of what he says is true in a way.
Before entering his business however, please make sure you know everything there is to know about the business and keeping it afloat. Med Trans is a very touch and go business – kinda like freelancing on steroids.
I should know, I was part of the software development business that created the infrastructure for his schools.
Wow! those three people you featured have the guts and a bit of luck as I may say. I’m really looking for a good business oppurtunity…but don’t know how to start, so many ideas coming out to my mind but I’m kind of doubtful of myself if its going to work…help me up guys!!! Thanks!
Hi. After reading your testimonies, i feel more than excited to try out something i have always wanted to do..a business of mine..actually i am thinking of setting up a hair salon and a software firm…i havent yet decided of the location…i would like to have an idea of the minimum capital required for setting up a hair salon…and the software firm…i’ll be more than glad to hear from you…thak you
Please let me know if there are any upcoming seminars on starting a business in the near future. Thank you.
hey guys!!can i ask for your insight on what good business can i start with?
I wanted to let everyone know that a new million dollar MLM company will be opening in Makati in the first quarter of 2009. This company deals with the strongest industry- health and wellness and provides products at a pharmaceutical grade.
I agree with Insider Mole. Have met Jin and he has a thing with words– hyerbole was the right term. Good line of business, got to make sure though. He was good getting into the business early and pretty much out right after. Some things can be too good to be true or really great.
The websites listed on your homepage, are they legitimate? Are they listed in scamfree zone?
Testimonies are worth to read indeed, but…. the hard world is most of the time also the realistic world. Not all you read here have to be 100% truth for other people. If you can’t do it yourself or you did not feel confidence doing it all the time, testimonies are not the tool (or maybe even the wrong tools)to make you do it right now.
Really interested in opening a business in manila. Anybody knows how much percent can own a foreigner of the 100% of the shares?
Do I have to have a pinoy partner?
If yes, how many partners do we have to be to open it?
Thanks for your help,
Best Regards,
Gustavo
Hi Gustavo. Last I check I think Foreigners are allowed only 30% of a Philippine business. Of course, people bypass that by using dummies in a corporation.
Hi Jozzua. this is a very interesting and inspiring write-up. i can see that this has been last active since 25 Nov 2008 but i will try my luck…. i hv an american boyfriend who wants to start and establish business here in Phil. am venturing on good contacts that may open good business opportunities for him. currently, we are eyeing on call center. on the other hand, his strength lies on motivational speaking and djing on the other side. am currently researching on the business part and as i mentioned earlier, this blog have inspired me. am wondering if you can give me some leads in terms of motivational speaking, who or any group(s), companies, even individual(s) who are interested in inviting a guest speaker. i can hv him (my boyfriend) get in touch with them or even myself. wld greatly appreciate any information(s). Thanks in advance! rgds – jhude
For those who want to know what businesses foreigners may in invest and what percentage of a business may be foreign owned may read this list.
http://www.bcphilippineslawyers.com/philippines-regular-foreign-investment-negative-list-a/
nice article. well when you start your own business you must know what you really want to do. for you to know what you really want, just think what you mostly do. or what are the things you mostly enjoying to do. for example, i enjoying editing pictures in photo shops, so i can have a business related to what i’m enjoying to do. like the business of making an invitations, editing pictures and printing it. then when you planed it carefully you can now start.
I have a big problem, I am eager to start a business and the capital is available already.. I’ve been in sales before and had quite profited from it. The only problem right now is I don’t know what business to start up…. I really want a serious investment…
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I studied in MTC Academy years ago but wasn’t able to practice it. Too bad, MT did not boom as expected (some predicted it would be as big as the call center industry). The rates per line I heard were too low, some were forced to close business.
I’d agree that it’s easy to start a business in the Philippines. The problem is we were mostly trained in school to be employees/professionals. There’s too much fear in starting a business (esp. fear of failure). There are those who try but not try hard enough, they quit at early stages. Entrepreneurs should be willing to go through the learning curve. Education doesn’t stop in school.
I agree with you ms. annette, that “entrepreneurs should be willing to go through the learning curve. Education doesn’t stop in school.” We have an internet cafe, it is the very first time we entered the business world, and by God’s grace, it is still operating very well. At first, we are the only internet cafe here in the community, but as time goes by, many internet cafes are sprouting like mushrooms, competing us. It is then that i realized on how to fight for and stand up among others.. and that’s where the learning process begin… and until now.. I’m still learning and discovering many things about “business”.
im very eager to start my own business but dont know what business I should venture in..please give me some suggestions..
its nice to have room like this, that like me who are looking for a business ops. keep it up.thanks
hi can u suggest at least 5 booming business now in the philippines so i have an idea 2 years from now if i want to start my own business. ty!
any advice out there if I want to start a small restaurant…what are the top failures that should not be repeated?..whats is the best to start it up?..thanks!
Hi guys! I would like to put up a business, small at first but would lead to bigger operation if I find the right people. I can’t do this alone hence I need people to help me out. I have seen businesses like this that started on a small capital and they grew big. It requires minimum of 5 people in order to be registered in SEC. Not much capital but would require much leg work and brain work. If you are interested please drop me some lines at labellehexe130@yahoo.com
Hi, I’m interested to start business also. What do you have in mind?
Hi nice topic it was really a helpful topic to other entrepreneur right now who is willing but afraid to start up a business of their own here in the Philippines. Learning is the most important thing we cannot get all the things we must learn in school. Sometimes the best lesson that we were learn is when we are in a real world. Business is a tough world for every people, but if you know your real vision and mission then there will be no problem. And in starting up a business always make sure that you really love the business your aiming to have and always think of prospective customer what makes them satisfied & happy.
Hi you have an interesting topics that would add some help to some of business people out here. Well business is not just about investing you need to learn also, learn how to improve what you have right now. Always think of possible ways how your business will grow as like the others, even if it’s an internet shop or something. Always remember that you have a vision and mission, and you need to focus on that. And always focus on customer or people, what they need or what is new that may be put or add in your business. Something new that will encourage people to love your business. Life in business world is not easy, you need to be strong and face some problems as the business grow the more problems may encounter. But never give up and never stop to learn new things in life. And don’t be afraid in trying and investing you may failed sometime but never give up there are still hope, you will face up and down in the business but never give up. Just what those big company today, they experiment not afraid to invest and try and they succeed because they focus on their goal and their vision and mission as the owner and also as an individual.
anung magandang bussiness po ngaun? na mababa nag ang puhunan?
Hi ! this is really a good topic and even this was posted for almost 3 years .. its really making a good perspective to every readers .. by the way Im a college student in PUP , and Im really taking it seriously to make a good business and the only prob. is the capital … but learning the story of this 3 guys , it really makes me more eager to learn more tips in starting business and learn to others experience. and Im sure somehow someday I’ll be entering the multi-million dollar businesses. hahaha.. ang lakas ng fighting spirit ko .. ^^
Wow. awesome! just to share, i’ve already started my “big Dream”. I am 23. I had bought a piglet and had it fed in the province. Soon, I hope, this piggery business would be successful-i had my mom wtached over it since i am working in manila. Also, I am making made-to-order leche flan. Hahaha.
Good job!!! :-p
I am looking for a business partner to open a restaurant in Manila. I leave in the east coast, US. I work and opened high end restaurants in the city and I am ready to share it with my kababayan.
im willing business partner
Good day Ms. Connie, me and my husband is looking for a good business here in Philippines but we don’t have a big capital yet. we are still having a hard time in opening a business. you might want to send a message in our email if you are still interested in opening a restaurant here. thank you mam.
Hi I am from Norco California I am a retired chef.I like to open a restaurant
in Manila or any where possible Italian w/pasta and pizza on the menu
I am planning to go to Manila in a few months to see whats up on
the food trend.
I am a retired chef,resides at Norco California Thinking of openning a
Italian restaurant in Manila or any where theres a potential clientels
Lets meet and talk if your serious.
Caution Everybody! Statistics show that 1 in 3 new businesses fail in the first 2 years. The rests follows and in 10 years 90% of the businesses eventually folds. It means 9 in 10 bagong negosyo will eventually close. The Philippines is one big Graveyard of failed businesses and if you do not know this, I bet you have been away for too long.
We are one of those lucky ones who are on the way to become one the 10% businesses destined to succeed here in the Philippines. One of the good advice I can give is … Don’t start your own business if you are not prepared to loose all your money! With the grim business failure statistics, you are better of gambling your money sa “Pula Puti!” at least you have a 50/50 chance of getting your money back.
hi, I’m Dei, I’m thingking of starting my own business too, both of my parents are in the business arena (agriculture per se), though i want to follow their business instincts , i wanna have my own business but still i dont know whta kind of business would that be…. i love discovering foods…. i am a registered nurse, will it be good to start a restaurant?
hi. we’re based here in U.S, any business suggestion to put up in manila?what about imported goods?foods, clothing, fashion, etc? i want something a necessity of the people. im thingking, of foods business in the philippines, but food industry in manila is just like a mushroom,,everywhere and anywhere..i want something different? i’m open for any suggestions…tnx
renzoandy why don’t you try zagu pearl shake!
I am a newly graduate nurse, i have savings during my school days.. I really wanted to start my own business, if I could only get some help..
hi carla, maybe i can help you… please contact at 09164848978. NO TIME COMMITMENT. we can work as group! hope to work with you carla.
Hi Carla! Try the Pure Barley Wellness business, you may contact me at 09195215459.
I guarantee you, it is still best to go to business on your own. If brothers and parents and children disagree a lot, steal from each other, what more with those not related to you who grew up and were raised differently? I have been an Arbitration Officer in government and I handled so many problems of this nature. Businesses collapsed and owners wasted their money on lawyers and litigation. Be your own boss and let your employees and GOD help you make your business grow. At least if you fail, you have no one to blame but yourself, but if you’ll hit it big, you get all the credit. Remember, FAITH in GOD make things happen, not men. God bless. . .
It’s true, we need to have self-esteem and enthusiasm to start and even continue a business into its ultimate success. Doing can be simple, but simplicity doesn’t mean easy. It can be simplified and optimized, but expect to do your hard work. Most Filipinos have the mentality of quick rich system. That is why most of them prefer to work abroad – it’s what hot right now. I just wish we, Filipinos become extraordinary and become more passionate in business and entrepreneurship. We just need to experiment to determine what’s the best business for us.
Hi,
i have been doing businesses in several countries for the last 25 years. I want to set up 2 businesses in the Philippines. If you are motivated and hardworking and willing to set up a company from zero, let me know. There is no investment involved as i pay everything. i need motivated partner(s) that are willing to create something that is due to be succesful.
emalar.vda@hotmail.com
thanks
Eric
Hi ! YOu mentioned that you want to set up 2 businesses in the Philippines, May I know what are those businesses you are talking about.
I am Filipno expatriate working in Jeddah,Saudi Arabia and due to retire after two years, I am desperately looking to a business that I can start with.
Can you please enlighthen me more about your business plans,
Cheers !
DAVE ROMAN
Hello Sir Eric,
I would like to offer my current business sir. I Have one now and operating but I need a business partner that can help me with the operating expenses and extended capital.
Looking forward on doing business with you soon.
hi….gusto ko po sanang magpatayo ng restaurant sa baguio city pwede nyo po ba akong bigyan ng idea kung magkanu ang dapat na kapital na dapat kung kakailanganin..sa ngayon andito pa ako sa singapore,balak ko na pong umuwi itong june para makapag umpisa ng sariling negosyo sa atin..tulungan nyo naman po ako…reply nman po sana kayo..salamat
Hi susan,I just read your post.. your filipino? i want to work in singapore. do you hire filipino? Thanks
Good day,i would just like to inquire about opening a business in the Philippines with foreign partner,what would you advice us to do,what office we should deal with….thank you very much…
im running a vegetarian restaurant and bar restaurnt in philippines. now i have new business for shoes both men and women, dress at a lowest cost.. i have direct conct from manufacturer in korea and china. you can start a business tru internet then after a shop i suply most from province.you can ask me anything you want to sell and ill be the to look for manufacturer.. you can be next people are people , bench etc.. please contct me . cafevegis@yahoo.com .. and add us on facebook
Would you consider deliver now pay after I sell? I am here in canada right now and will be home (Philippines) on November thinking to set up a business but got a little capital. Let me know. Thanks!!