Business Sense: Practical Pursuits for Filipino Women in 2014

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The year is almost halfway done and many may be wondering "Why now?" But the truth is, it is never too late to start pursuing your dream. In the past few years, many in the nation have decided to leave their regular jobs and start businesses. In a third world country such as the Philippines, being your own boss is as big a dream as being able to work abroad. And now that the PH economy is doing quite well in the world market, you'll probably witness more people joining the entrepreneurial bandwagon in the coming years.

Setting up a business, however, is no walk in the park. You need capital, a sound business plan, a ton of determination, and most importantly, an amazing business idea. If you're planning to go through the conventional route, you would also need to rent an office space . If you're a parent, you'll also need superb organisational skills. Out of all these though, it's probably the "idea" part that you should first get a hold of. After all, according to American author Earl Nightingale, "Everything begins with an idea." 

But what if you have no ideas whatsoever and can find no inspiration to come up with one at the moment? Well, read on. The following business concepts may trigger those neurons to start firing up.

Baking Pastries

Food of any kind will always have a ready market here in the Philippines as Filipinos just love to eat. When friends and family get together for any occasion, you will rarely find it without anything edible to munch or nibble on. Moreover, in the past few years, people have grown to love baked goods. In fact, giving them as gifts during birthdays and other special events has even become a common practice lately.

Pink cupcakes

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Startup Idea: You can buy an oven and bake from home in the beginning. It may also be wise to first pitch your goodies to family and friends then ask for feedback. Feedback is important so you can hone your baking skills before you sell your goods to the general public. Later on, when you've managed to penetrate the market and start earning profits, then you can transfer to a commercial space.

Online Retail Business

This is, without a doubt, one of the most popular enterprises in the world today. It may be because it's fairly easy to set up an online shop. Aside from that, there are many helpful plugins and widgets for e-commerce sites all over the internet. You can sell almost anything online -- from clothes and fashion accessories to books and gadgets.

Cute high heels

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Startup Idea: Set up your virtual shop on a website or in any social media platform. Yes, many have set up shop in social networking sites. You don't have to actually buy a domain right away. You can just set up your shop in one of the free blog hosting sites such as WordPress.com or Blogger. And don't forget pictures. Great visuals will be your most important marketing tool so don't just use blurry photos you've taken with your camera phone. Invest on a good camera.

Handicrafts

Do you know how to sew, crochet or knit? How about making pretty baubles such as necklaces, pendants, earrings and other fashion accessories? If your answer to both questions is a resounding "yes", then perhaps it's time to convert these hobbies into a money-making venture. Remember, more than 50% of the country's population is made up of women, and Filipino women have grown increasingly fashion conscious these past few years.

Hands knitting

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Startup Idea: Much like many e-commerce sites, you can also set up an online shop for this. Or perhaps you can set up a personal blog and sell your handmade items there. People who love to buy handmade products like to see how they were made, and so blogging about your processes will be a good marketing move.

Now that you have some clue which business ventures may be a good idea for you, perhaps it is time to gather relevant knowledge and advice about being an entrepreneur from other entrepreneurs. Attend business seminars and workshops. Also, do online research and read up on business tips , especially about starting a business with limited funds.

Author Bio:

Loren Maluenda is a part of Regus, an international company that seeks to provide flexible workspaces, business lounges, meeting rooms, virtual offices, IT support, and workplace recovery services.