Best Business To Start With Small Capital in the Philippines:
The idea of starting your own business can be riveting and exciting. But what we all know, most ventures demand time, equipment, expertise, and money. Moreover, the idea of a startup is alluring because of the independence and flexibility that the job entails.
Data from the New York Post reveals that 62% of Americans dream of being their own boss. Even though the demographics pertain to a different audience, the same can be said for Filipinos. But then again, desire, grit, and perseverance can only go as far.
The question is: what is the best business to start with no capital in the Philippines? But before we delve deeper into the hows, it’s important to grasp the whats first. How exactly do we start a business with little to no financial backing in the Philippines?
Best Business To Start With Small Capital in the Philippines
1. Online researcher jobs
At the turn of the 21st century, information is accessible with a few taps on the phone or clicks through a computer. Internet researchers use their skills to scour the internet for information on various topics. So a good understanding of how search engines work plus knowledge in securing scholarly articles, publications, and documents is a must.
You may search for online research jobs in the following sites:
Basically, this is the best business to start with no capital in the Philippines for avid Googlers.
2. Ghostwriter/Freelance writer
If you have solid writing skills, considering freelance writing as a capital-free business is a no-brainer. With a staggering 570 million blogs in existence in 2021, there’s much room for ghostwriting opportunities. Most blogs outsource writers to create their content, and landing on a blog or business is feasible when you know where to look.
Rates may vary depending on your experience. As per the Filipino Writer, here are the recommended Filipino Freelance Writing Rates Starting Points:
| Level | Rate per Word | Rate per 1,000-word Article |
|---|---|---|
| Novice | $0.0200 to $0.02499 | $20 to $24.99 |
| Intermediate | $0.0250 to $0.04999 | $25 to $49.99 |
| Advanced | $0.0500 to $0.07499 | $50 to $74.99 |
| Professional | $0.0750 to $0.09999 | $75 to $99.99 |
| Expert | $1.0000 or more | $100 or more |
We’ve gathered some tips and tricks in our article How to be a Freelance Content Writer in the Philippines as this is an excellent way to start a business with no money in the Philippines.
3. Proofreader
For people keen to improve the overall quality of a write-up, proofreading is the best business to start with no capital in the Philippines.
Proofreaders focus more on the misspellings, incorrect or misused punctuations, inconsistencies, both textual and numerical. The simple structural changes can entirely change the meaning of a message; thus, proofreaders are valued in the online industry. If you’re keen to apply as one, there are online teams like Proofreading Services that can adopt extra proofreaders under their wing. Otherwise, watch out for job listings in UpWork and Online Jobs.
4. Freelance editors
While editors and proofreaders are colloquially interchangeable, there’s a significant difference between them. Freelance editors pour their attention to the core of writing, like fixing the sentence construction or eliminating language ambiguity. They work hand in hand with proofreaders in improving the tone, clarity, and readability of a message.
People with keen ears and eyes qualify best in this workforce. Cambridge Proofreading and Editing is an excellent platform for editing educational materials and professional documents. On the other hand, Reedsy is great for book editors (plus, you might get a chance to review some famous authors’ best works!).
5. Virtual assistants
This is one of the most booming freelance jobs, especially at the height of the pandemic. A virtual assistant renders the services required by entrepreneurs or businesses from remote locations.
The responsibilities of a VA entail doing administrative tasks, scheduling appointments, and managing professional and personal errands. According to Virtual Staff PH, entry-level Filipino VAs can earn from $350-$450 a month, while more experienced Filipino VAs can hit the $450-$650 range. There are daily high demands for VAs in OnlineJobs.ph and they refresh their job listing on a daily basis.
**Potential Salary: P10,000 – P100,000/Month
6. Resume builders
For any graphic design whiz with a sharp taste in making polished and professional resumes, this can be the best business to start with no capital in the Philippines. However, tremendous attention to detail is critical because there is no room for making errors.
7. Logo and image design
If Photoshop or Canva is right up your alley, a business in graphic design can be another fruitful no-capital venture. There are multiple online freelancing sites to post your services, giving the much-needed exposure when looking to land some clients or expand your clientele.
As graphic designers, you’d like to be paid per project, not by the hour. UpWork is a viable site for budding graphic designers but you’ll need some credibility to back you up. While 199jobs pays a tad lower, it’s still a great platform to get your foot in the door and build a rapport of good reviews.
**Potential Salary: Average of P26,900 per month or more
8. Social media management
Did you know 58.4% of the global population uses social media? More than half of the world is exposed to online platforms, which means marketers will pour more attention towards optimizing businesses for maximum social media revenue. Along with the surge of e-commerce is the boom of the social media marketing industry.
This is undoubtedly the best business to start with no capital in the Philippines, especially for avid “socmed” users. Why not get paid to do it if you love using Facebook, IG, or TikTok so much?
**Potential Salary: P15,000 – P38,000/Month
9. Voice artists
As the world shifts to a more digitalized era, the demand for voice talents increases. From video voiceovers to gaming dubs, it can be a profitable no-capital business if you have the voice for a particular role. However, though essentially your voice is your only investment, a good mic and studio equipment can propel your career further.
One voice acting school in the Philippines is the Certified Voice Artist program where you can learn how to be a voice artist. When it comes to hiring, you may find voice talent jobs in freelance sites like UpWork and Fiverr. But if you can afford the premium fee to work under voices.com, there can be more voice talent opportunities there.
**Potential Salary: $20/500 words
10. Online magazine publisher
Some writers might find it uncomfortable to publish content online without keeping the by-line. Magazine publishers still produce online content, but instead of being paid by the word count, they earn from each subscription. A good example of this platform is Medium, where you can write and publish articles for free and earn based on how many reads your content receives.
11. Freelance event planners
Planning an event is far from easy. That’s why people hire event planners to do it for them. As an event planner, finding appropriate venues, partnering with event staff, and creating a timeline and budget, among others, falls on you. Indeed, this is the best business to start with no capital in the Philippines if you have commendable managerial skills and creative solutions. Sites like Jobstreet and Indeed.ph lists several job opportunities in this category.
**Potential Salary: Average P33,359 per month or more
12. Language tutoring
Learning English is becoming increasingly important, especially since its the official language of 53 countries worldwide. Many foreigners seek teachers to hone their English skills online. People confident in teaching the English language can meet various people and earn substantially without any monetary capital.
All it takes is a good command of English, and tutoring can be the best business to start with no money in the Philippines. One commendable site for language tutoring is Italki. Just make sure your introduction video is eye-catching and grammatically perfect so you can land more clients!
**Potential Salary: P15,000 – P40,000/Month
13. Website building
If you can build a killer website from scratch, a skill which most people can’t, that can be a very lucrative business. Whether through code or CMS (content management systems) like WordPress, Shopify, etc., it’s a good business to sell.
14. Blogging
Take my advice as a blogger: blogs can incur some costs, especially with the upfront costs for hosting and domain name registrations, but the price to pay is still minimal compared to other businesses.
Blogging can be a very profitable career, especially if you manage to grow your brand and increase online visibility. You may potentially earn from display ads, brand collaborations, partnerships, speaking engagements, or sell your website altogether for a hefty sum of money.
How To Start A Business With Small Capital In the Philippines
Studies show that starting a business without resources looks far-fetched, but it’s not entirely impossible, so long as you start small. In addition, in one of the expositions for Entrepreneur, Greg Fisher gave tips on starting a business with no money, and his suggestions are implementable even in the Philippine setting. Here’s how you can start a capital-free business in the Philippines.
1. Start with what you have
Money might not be in your favor now, but what more can you offer from your arsenal? This refers to 4 things:
- Skills — what you can do
- Experience — what you’ve done in the past
- Knowledge — what you know
- Tangible resources — what you own and what you can access
We suggest you list down all you have to offer on a sheet of paper to guide you through the process.
2. List down your connections
Map out the people who can lend a hand in your entrepreneurial ventures. Consider how they can be helpful to you. Maybe you know someone who can give you practical tips or can refer you to get your business off the ground.
It’s important to note that a solid relational foundation is a prerequisite to a fruitful partnership. That said, building real connections is better than building networks, so to speak.
3. Experiment and adapt
What makes startup people succeed is their sensibility to understand what business will work best at a given time. The flexibility and adaptability mindset can give you a competitive advantage.
Test the waters first, and if they don’t seem feasible even with adjustments, then move on to the next venture. Don’t fixate and be rigid on one.
Tips in Starting A Business With No Capital Philippines
Know which field you can perform your best in.
If it’s writing, produce a piece that you can pitch to persuade clients to hire you. If it’s virtual assistance, make sure you can implement proper managerial and administrative skills, and it reflects in your lifestyle.
Create a portfolio that emblazons your skills and talents
Freelancers may choose to create Google Drive folders to store their best works (not all projects), so you forward the folder to employers looking for some credibility to back up your words. At the same time, sites like Behance can also be a great wall to plaster your best pieces through a tasteful presentation.
Although it may seem doubtful at first, but it is possible to establish a business without any capital. However, the best business to start with no money in the Philippines varies from person to person. Not everyone thrives in a single industry. A clear grasp of your skills and talents is crucial to finding your million-peso venture.
Best Business To Start With Small Capital in the Philippines