Drive-in movie theater is a business that allows people to watch movies from their car, which is a great way to make people come out of the house. I was starting to feel discouraged. Health and Wellness Products Since the corona virus has a higher chance of infecting immunocompromised persons, many have become more conscious of their health. One of my main responsibilities there is the fair, so it’s mostly managing the event and marketing. The program, which covers registered MSMEs, is intended to tide over employees of small businesses during the crisis. ? The best part of being an online beauty seller is that I get to interact with people who I can share my passion with. Credit constraints and weak consumer demand were among the reasons why recessions have dealt a disproportionately more catastrophic blow to MSMEs relative to large businesses. “It’s definitely this unique learning experience I wouldn’t have gotten as a makeup artist. They will build new businesses to respond to those changes. We all have different ways of coping, while some people are into cooking, exercising, and binge-watching Netflix, we are into decorating our rooms! Working at a fashion brand, then eventually going to fashion school pushed me to start a fashion-related business that I’ve believed in for such a long time, which was period underwear. Starting a new business or a side hustle can be really time-consuming and stressful, but if it's something you like doing already then it won't feel like work. “It’s definitely this unique learning experience I wouldn’t have gotten as a makeup artist. Back in my corporate job, I had to work from 8-6, from Monday to Saturday. When I joined, it was already set up as a company.”, “It's not a common concept here in the PH and we could only present and send proposals online so I think a lot of people thought it was a scam at first, haha! The bonus was everyone was doing it anyway: Online businesses were popping out here and there.”, How different is this business from your day job? I was anxious, but never ashamed, that this crisis forced me into unemployment and needed to find other ways to make a living. Have you ever heard about the phrase, omission bias? They know that industry boundaries will evolve. Sourcing ingredients was so difficult! In the Philippines, SMEs face a plethora of challenges, such as credit constraints, especially during periods of economic downturn. “Learning how to handle a business all on my own and using the money I’ve made from it to help other people. Many have already found innovative ways to roll with the punches — from rethinking supply chains, redeploying staff, offering crucial advice, and even recreating your favorite bar online. Candid Clothing is supplying me with cloth face masks made from upcycled fabric which I will then be donating to the jeepney and tricycle drivers, basureros, and street dwellers in my area.”, What’s your advice for Pinays who want to start side hustles and small businesses now? Most of them promised that they could deliver by mid-January but COVID-19 started spreading so fast. Before I had to go on leave, I barely had time to explore my other interests. At the time, it was for extra funds for my dogs’ veterinary care (surgeries, cancer, general maintenance), and a productive break from the rigors of being a makeup artist.” So find the right partner to be with you on this. We all have different ways of coping, while some people are into cooking, exercising, and binge-watching Netflix, we are into decorating our rooms! When the COVID-19 pandemic hit the world this year, we all had to make major changes in our lives. Haha!”, “It was challenging to find a unique selling point in a sea of so many other great brands out there. SMEs and their contribution to jobs and employment. There are plenty of good reasons to start a business this 2020, especially if you have the skills, the opportunity, and the resources needed to do start something new. Social media is free: Facebook Live and Instagram Live are available at no cost to users. The panic and anxiety of being caught in checkpoints even with a quarantine pass and delivering essential goods forced us to rework our entire schedule. I never would’ve known it was worthy to be put on display in a coffee shop, and little did I know it would save me from unemployment and its mental and emotional repercussions during this pandemic. The process is never easy, you will be tested in all ways possible and you will only have yourself most days so believe that you can and you will. 13. During the 2008 to 2009 recession in the US, SMEs accounted for 62% of net job losses. This is my first time doing anything business-wise!” - Janelle, “I work for the beauty industry for my day job. I think most of us would feel the same: There are certain days that we feel down, and need a break. I still prepare all the cookie dough and pandesal dough before I clock in for work. I actually launched BARE back in 2017, but I wasn’t able to sustain and grow the business then because I was doing it alone. “All I can say is, just do it. When COVID-19 was classified a pandemic earlier this year and governments started to impose lockdowns and quarantines, we knew that small businesses would struggle to stay open. In the Philippines, the enhanced community quarantine, done as a response to mitigate the spread of the COVID-19 pandemic has brought economic activity to a standstill. Build on it! It actually makes me more productive whenever I take breaks. They understand that customer behaviors and needs will change. We're happy that Emilia gets to help our kababayans deeply affected by the pandemic even just in a small way.” - Janelle, What’s your advice for Pinays who want to start side hustles and small businesses now? As an employee, your KPI’s, targets, etc. I had training on what it was like to be very hands-on in running a fashion brand. Also, invest your time and money wisely so you can reap something great in the future.”, Lash Party, a brand of premium hand-crafted faux eyelashes, “The aviation industry was one of the first major industries that was hit by the global pandemic. Editor’s note: John Paul Flaminiano is Associate Director and a Senior Economist at the Asian Institute of Management - Rizalino S. Navarro Policy Center for Competitiveness (AIM-RSN PCC). Results show that over 41% of SMEs applied for a loan to respond to emergencies. Lots of riders also took advantage of the low supply and high demand of delivery that they would charge a lot higher, so it was extra difficult to find riders who would take it for the price based on the delivery apps since that’s what we charge our customers. “All I can say is, just do it. With the help of my family and friends I composed myself and started with baby steps. On top of that, it was also still so difficult to book couriers for the deliveries. From freelancing, food & beverage, consulting, retail, rental, personal and business services, up to home-based business opportunities - we've got you covered! If you’re spiritual, pray about it... A LOT. I literally got asked, ‘, cookies?’ My parents would’ve been more than willing to split the veterinary expenses with me, but I didn’t want to ask. Online Selling … MANILA, Philippines — One in every three Filipino micro-entrepreneurs started a business during the COVID-19 pandemic, a survey conducted by web-hosting company GoDaddy showed. I could feel the excitement around my brand’s following and got inspired even more to power through. So I'm really glad about that one. Even before the crisis, many of our SMEs already had problems obtaining credit as working capital and to pay their workers. While there are many COVID-inspired business ideas sprouting in the business world today, there are many ways "traditional" businesses can be adapted during COVID-19. I had a hard time finding a job since I'm moving into a new town soon, and then I slowly started applying for remote work. I also definitely miss the free aircon during shoots and gigs! I would also wear extra cycling shorts or refrain from any light bottoms. In the Philippines, the enhanced community quarantine, done as a response to mitigate the spread of the COVID-19 pandemic has brought economic activity to a standstill. Then when the ECQ happened, I decided to just do it and shift! See Also: 15+ Lucrative Business Ideas To Start In Nigeria Or Africa With Small Capital 19). To alleviate the burden on SMEs, the Philippine government’s initial response was to extend a grace period for qualified SME loans. Haha!”, “When I first launched Minikkins, it was right when lockdown started, so everyone was still panic-buying. If you're planning to start a business or, , it should be something you're passionate about so you won't feel like you're working every day. MANILA, Philippines — One in every three Filipino micro-entrepreneurs started a business during the COVID-19 pandemic, a survey conducted by web-hosting company GoDaddy showed. So we’ve decided to hire someone to help me with the orders. The lockdown, however, gave me the chance to push through with my long overdue passion project: My cosmetic lash line. What’s the best thing about opening your new business? Life truly happens outside of your comfort zone. We would make dough from 9 p.m. until 12-2 a.m. (it was just too hot any earlier in the day), bake from 4 a.m.-8 a.m. so we can send them out as early as possible, because riders were more likely to accept bookings for regular prices in the morning.”. Cleaning services With the spread of coronavirus fears around the country, it should come as no surprise that professional cleaning services that sanitize offices, restaurants and homes are in … My wedding industry job is at an all time low and all my hobbies require going out so this project motivates me everyday to get up, work hard and stop feeling down despite the difficult situation we're in. The impact of the pandemic will be more damaging to small businesses since large firms are more resilient than MSMEs in times of recession. “It's not a common concept here in the PH and we could only present and send proposals online so I think a lot of people thought it was a scam at first, haha! Ideas for small businesses looking to stay top of mind for customers during the pandemic and beyond:. We don't really know when the wedding industry will be back, so we managed to launch the website in June.”, “We know mall shows, meet and greets, and live events are all paused now, so we thought it would be a good time to launch an avenue where personalities and their supporters can create more personal connections online.”, How different is this business from your old job? To survive the COVID-19 crisis, the ILO recommended that SMEs need better access to finance and working capital to help with their short-term cash flow. I don’t do well with numbers but I had to learn how to do costing, profits and losses. I always grounded myself with the belief that I started my brand of period panties, not to merely sell a product, but to sell a comfortable and confident experience for women out there.”, “If it feels right, go for it and listen to your gut feeling. If you're planning to start a business or raket, it should be something you're passionate about so you won't feel like you're working every day. Every entrepreneur faces challenges, doubts, managing risks, and making big decisions during this period. Start out with a two to three washing machines and a dryer. “If you have an idea, just go for it! Here are top 5 business ideas for 2020. I had to put an extra mattress on my bed every time I was on my period to make sure I don’t stain my bed. Before I had to go on leave, I barely had time to explore my other interests. Hopefully, we'll find our balance soon!” - Nicole. By choosing from the best business ideas in the Philippines that fit your values and market, you already have the battle half-won. Yes prepare but also, don’t overthink it.”, “Baking has always been my passion and people have always pushed me to sell my cookies. This was a challenge because I’m neither sweet nor bubbly IRL. ‘What would make BARE stand out?’ Another one was navigating through this pandemic. According to World Economic Forum, digital penetration has been in Philippines. SMEs usually have lower cash reserves and are more susceptible to going out of business, especially during a crisis. So we’ve decided to hire someone to help me with the orders. We decided that I would be in charge of design and production while he took over creatives and marketing.”, “I’ve been in working in corporate since I graduated, so starting a business is a totally different ball game. “Logistics and self-doubt. CNN and the CNN logo are registered marks of Cable News Network, Inc., displayed with permission. Now let’s go into the details of the best business opportunities in the Philippines. In this program provided by the Federal Council, loans of up to CHF 500,000 are fully secured by the Confederation with zero interest. A percentage of the profit we earn from it will be given to those most affected by the pandemic, like. What’s the best thing about opening your new business? Bonus points that I don't commute or spend money eating out!”, “It was a bit hard communicating with my clients at first. Since I'm used to in-person meetings. The best part of being an online beauty seller is that I get to interact with people who I can share my passion with. “A complete 180! Nothing beats doing what you love, and earning from it!”, CelebrityGreetings.PH, a celebrity video shoutout booking website for local celebs, “We’ve always wanted to try this business out for years already, but we didn't have the guts and the time to start it. I'm a solid introvert so it's quite difficult for me to constantly have to talk to people. Photo c/o Small Business Sense. In 2018, MSMEs generated over 5.7 million jobs. Then when the ECQ happened, I decided to just do it and shift! My mom helps me a lot by baking the cookies before she goes to work and I prepare the pandesal before I clock in, but with the number of orders I’ve been getting, it’s become really tiring. Growing up, I’ve had a difficult time with my period as well. The effect couldn’t even be more glaring and damaging in the Philippines, where micro, small, and medium enterprises or … Innovative policies are essential to address the needs of SMEs. Turner Broadcasting System, Inc. All rights reserved. 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