Choosing Between Jobs or having One’s Own Businesses

In today’s market, having a well paying job may not be enough to sustain the needs of their growing family. This is the reason why businesses had become a very popular trend in the Philippine market, particularly among the many middle wage earners.

In the past, most Filipinos believe that having a well paying job is enough to accommodate the needs of their family. Today, however, having a well paying job may not be enough to sustain the needs of their growing family. This is the reason why businesses had become a very popular trend in the Philippine market, particularly among the many middle wage earners.

Jobs vs. Businesses

Working as a vice president, CEO, or even a manager of a renowned company or corporation in the Philippines may sustain their needs as well as the needs and luxuries of their family. However, working as middle-wage earner is not enough to sustain their growing needs as well as the needs of their family. This is the reason why a number of new business opportunities had been introduced in the Philippines which allows every Filipino to have a business of their own.

The advantage of having a business is that Filipinos wouldn’t have to work for someone else’s success. Although having a job as a VC of a multinational company is much more profitable, not all Filipinos can attain such level. And although managerial positions can offer more profits, having one’s own business allows Filipinos to work for the success of their business, and not for the success of other’s business.

As for middle-wage earners, setting up a small business is one of the few ways for them to earn extra other than their own jobs. Because of today’s many business opportunities, setting up a small business had become easier and more affordable compared in the past. A popular example is franchise food-cart business which had become a very popular trend in today’s market.

Another advantage of setting up one’s own business as early as possible is that it allows its owners to secure their future and the future of their family, particularly when they decided to retire from working. A successful business may also lead to Filipinos taking an early retirement which allows them to focus more on their business and their family.

Support for Small Businesses

There had been a number of loaning firms and banks that offers Small business loans Philippines, allowing more Filipinos to secure a business of their own. The advantage of loaning, particularly for banks that offers Small business loans Philippines is that it allows many middle and even the many minimum wage earners to start a business even if they lack the necessary funds to start one.

Another loaning support is with business expansions. BPI is popular for its small business loans Philippines which offers Filipinos the chance to start their own business or to expand their existing business by providing them financial support whenever they needed it.

Financial Assistance for Franchise Businesses

To assist Filipinos in their efforts to franchise their own business, BPI had introduced a new financial assistance program that aims to provide Filipinos loaning services for their franchise business plans. This service is known as the Ka Negosyo franchise business services.

Ever wanted to franchise a business but don’t have the budget for it? In today’s modern market, franchise businesses had become very popular in the Philippines. And to assist Filipinos in their efforts to franchise their own business, BPI had introduced a new financial assistance program that aims to provide Filipinos loaning services for their franchise business plans. This service is known as the Ka Negosyo franchise business services.

What made Franchise Businesses Popular?

Some of the advantages of franchise businesses is that the success of the franchisor is also the success of its franchisees, as it offers franchisees the advantage of starting up quickly based on a proven trademark, and the tooling and infrastructure as opposed to developing them.

According to PFA or the Philippine Franchise Association, the franchise industry of the Philippines had grown massively in the world market, from only 50 franchises in the early 1990s, the number of franchises today had grown to over 1000, which marked the highest growth in the sector.

The reason why franchise businesses had grown massively is because of the continuous growth of new franchise business opportunities, such as the popular food cart business. There are literally hundreds of different brands of food cart franchise businesses in the Philippines, and many more are being introduced in the Philippine market.

Part of what made food cart franchise businesses popular is because Filipinos are known for their love of foods, and because of the growing competition for this sector of the franchise industry, many of these can now be franchise for as low as P20,000 Philippine Pesos, which is the reason why many Filipinos can easily start their own franchise businesses.

Assisting the Filipino

Although cheaper compared to other forms of franchise businesses, many Filipinos are still unable to franchise a business due to the lack of budget or capital to start one. Because of this, a number of loaning firms as well as banks have offered their own loaning services which allow Filipinos to franchise a business of their own. A popular example is BPI’s Ka Negosyo franchise business assistance.

BPI or Bank of the Philippine Islands is one of the premier banks in the Philippines, being the first bank of the Philippines. Other than its origins, part of the reason why BPI became a very popular bank in the Philippines is because of their loaning services. Some of their popular financial assistance services include BPI Home-Loan and Auto-Loan.

However, because of the growing popularity of businesses in the Philippines, either from the ground-up or franchise businesses, BPI had introduced a new financial assistance service that aims to provide Filipinos the chance to start their own business or to franchise a business. This is with their Ka Negosyo franchise business services and fast cash loan service.