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.
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