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How To Start A Business With 500 Pesos In The Philippines [Video]

How To Start A Business With 500 Pesos In The Philippines

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Can you even start a business in the Philippines with 500 pesos? What business to start with 500 Pesos in the Philippines?

It is possible to start a business in the Philippines with only 500 pesos; however, your options are limited, so this is what you need to know.

First of all, you need to reduce your business expenses. Therefore, it is best to focus on online businesses to reduce your business expenses. Online businesses that are popular in the Philippines are eCommerce stores and blogs. But the problem with these options is that if you create a website, you will need to buy a domain name and a hosting service, which will cost you more than 500 pesos.

So what you could do is focus on building a business on a website that is already existing. YouTube is a classic example. Many YouTubers film on their phones just like I am now, and there are also several free editing software and apps that can be downloaded for free. But what about if you don’t like being on camera? Well, the good news is there are many other options.

Fiverr, Upwork, Task Rabbit, Facebook marketplace, and Tiktok are a few common platforms. So to summarise, if you wish to start a business in the Philippines with 500 pesos, you will need to use other people’s products, websites, or services when you first start. Naturally, you will have several options as you grow, but it’s important to focus on cutting down on high expenses at the beginning stages.

Now you may may have a question: What business Can I start in the Philippines with only 500 pesos? You have several options. You could sell products and use free marketplaces such as Facebook; however, if you buy the products and do not sell them, you may have already run out of money. Another option involves selling services. For my other businesses, I often use the services of a researcher, which gathers research online, write up a small artilce on a word document and sends it to me. this is one example of a service that just about anyone can do, and here are some other options…

Virtual assistant
Blog post writing
Translating
Voice acting
Data entry
Songwriting
English / Tagalog teaching
Modeling
Online life coaching

Naturally, this is not the only option to start a business on 500 pesos in the Philippines. I’m sure there are many ways people make money from 500 pesos, but this is the only legitimate way I’ve come across in several years that works long-term on a budget. However, here are some quick tips to get you started…

• Focus on aggressive expansion – can you offer more services or include added extras that would increase your earning potential?
• create a business plan – Filipino wealth has a free business template and financial guide, which you can download on the website
• Join Facebook groups – most freelancers and entrepreneurs use the power of social media to grow their businesses, and this is all for free.
• If you are selling products, focus the early days on market research. This includes the current demand, new trends, and the present supply of the product.

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Content produced by Filipino Wealth serves as supporting information only. We always recommend visitors seek independent professional advice before acting on any topics mentioned on the FilipinoWealth channel. This is especially in terms of topics relating to his/her financial situation and business affairs. This video may contain affiliate links to products. We may receive a commission for purchases made through these links; however, this does not affect our recommendations in any way. For more information, please visit our terms of service on our website FilipinoWealth.com.

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