This model of phones is very expensive especially if you’ll buy it when it was first introduced in the market. That’s why if you’re planning to buy an iPhone 8 / iPhone 8 Plus or iPhone X, make sure to ready your wallet.

But, is it practical to buy a new iPhone? Or would you think to invest your money to other worthy things or investment?

Here are some ideas on how you can spend your hard-earned money rather than buying an iPhone:

Start a small business

Maybe you’re thinking that starting a small business requires huge amount of capital. The good news is that you can start a small business with a starting capital that is equal with the cost of an iPhone. This means that you can use your money in a way that makes it as your main source of income and earn profit for long time.

Save for emergency fund

It is practical to save for emergency fund that you can use when you’re in dire need of cash. No one knows when uncertainties may come such as financial crisis, unemployment, or health emergencies. The price of an iPhone most likely is twice or three times the salary of an average Filipino. Thus, the amount can be used to cover different financial obligations for few months.

Buy a computer or laptop

A computer or laptop can be used as an income generating tool particularly if you find an online jobs. You can buy a decent laptop that costs half the price of an iPhone. Likewise, you can also use a laptop or computer to start an new business venture online.

Invest in stocks

The Philippine Stocks Exchange opens opportunity to everyone looking for an investment. Investing in stocks does not require huge amount of cash. The price of stocks increases every year and your money will grow exponentially. Thus, investing in stocks is more promising as compared to buying an iPhone.

When spending your hard-earned money, you should think whether it will give you good returns or just to satisfy yourself to have an iPhone that you can brag.

The post How to Spend Your Money Instead of Buying an iPhone 8 or X appeared first on Pinoy Business Ideas.

Many entrepreneurs have partnered with San Miguel Purefoods and became successful in the poultry business. This company is well known for its products including hotdogs, dressed chicken, and other meat products. That’s why if you plan to apply for partnership with this company, you can expect for constant and solid assistance.

The company will provide you the following:

• Building plans, specifications and design
• Day-old chicks
• Nutrition program and broiler feeds
• Technical assistance (laboratory services, ready market, information recording materials, competitive payment agreement)
• Vaccines and medicines

As a supplier of poultry products and chicken, you need to provide the following:

• 1-2 hectares agricultural land
• Feeds warehouse
• Poultry facilities and houses
• Water system and electricity
• Poultry equipment
• Proper farm management
• Maintenance of farm equipment, facilities, and roads

However, to prove that you are qualified for the partnership, you must ensure to meet the required guidelines pertaining to your farm.

Read also: Guide on How to Start Raising a Chicken Poultry Business

Aside from the required area of the farm site, the location of the farm must be within the agricultural zone. It should be at least 1 km away from the residential area and hog or poultry farm and other related operation. The farm site should be within the 100 km radius in a nearby SMFI operated Poultry Processing Plant.

There should be stable source of electricity and sufficient source of drinking water. The road within and leading to the farm must be passable and accessible to light vehicles (6 and 10 wheeler trucks). The poultry house must be able to accommodate at least 36,000 bird space.

In addition, the poultry house should be 450 feet long and 52 feet wide following the east west orientation. It should be properly ventilated.

Application process

• The applicant must accomplish the contract growing application form
• The farm site must undergo inspection and wait for the SMFI approval for the proposed farm site
• Submit letter of intent and request for the letter of commitment
• Secure and submit the necessary permits
• Attend seminar for basic husbandry
• After acquiring the permits, the construction of the poultry house may commence
• Once everything is prepared, the contract signing will follow and chick placement

For more information on how to apply for broiler chick supplier, you can inquire from:

San Miguel Pure Foods Company, Inc.

23F The JMT Corporate Condominium

ASB Avenue, Ortigas Center, Pasig City

1605 Philippines

The post How to Partner with San Miguel Purefoods and Be a Chick Broiler Supplier appeared first on Pinoy Business Ideas.

Not all people understand how difficult it is working in a foreign land and away from the family. Yes, the salary may be more than enough to provide a decent living for the family, but why many OFW families are still in a financial crunch especially when an OFW comes home.

The truth is being an OFW can take a toll on both your financial standing and personal relationships with your family. In fact, there are instances in which once an OFW ceases working abroad, his or her family ended up with just a little amount of savings. Why is that happening?

Read also: How OFW can get out of Debt and Save Money

Here are some reasons why OFW’s and their families are facing difficulty in saving money:

Overspending

This is one of the major reason why OFW’s are not able to save money. Their families tend to overspend the allowance sent to them every month without consider the budget. In the same manner, OFW’s also overspend money just to compensate the time they’re away from their families by buying things they don’t really need.

Cost of living

OFWs may not save money because of the higher cost of living overseas. If an OFW is not thrifty in spending money, there’s great possibility that saving money for the future may be difficult.

Failure to identify an asset versus liability

Apparently, as OFW’s earn higher income they are easily swayed to buy things without identifying whether it is an asset or a liability. Most of the time they tend to buy things that would only take money from their pockets without anything to gain in the future.

Get-rich-quick attitude

Many OFW’s are practicing the get-rich-quick attitude that’s why they were tempted to invest in the wrong investment instruments. Thus, they end up losing money rather than saving it for the future.

Lack of financial goals

Working overseas takes a lot of courage as you will sacrifice to be away from your family. That’s why it’s important to set financial goals. Setting realistic goals will keep you in the right direction and make the most of your time.

Read also: List of Top OFW Business Ideas

Saving is indeed challenging especially if a person isn’t savings-oriented. Practicing the right financial behavior is the key to save the hard-earned money for the future once an OFW retires.

The post Why Do OFWs and Their Families are Facing Difficulty in Saving Money appeared first on Pinoy Business Ideas.

One of the largest and the most trusted banks today of many Filipinos is the Metropolitan Bank and Trust Company or popularly known as Metrobank. For many years, it has been of service to the Filipino people through its wide variety of financial products and services that are designed to answer and meet anyone’s need financially.

If you have a savings account with Metrobank, you will be guaranteed fast and easy transactions, and if you want to know how to open one, read the steps below.

1. The requirements for opening a Metrobank savings account are very easy. First, you just need to secure 2 valid ID’s, and they can be your school or company ID, NSO birth certificate, Postal ID or voter’s ID, Barangay or Police Clearance, Passport, Driver’s License, SSS or GSIS ID, and other IDs that is issued by the government.

These IDs should be an original copy and the photo should be clear, they should not be expired and officially issued by an authority.

As for the initial deposit, you need to prepare for 2,000 pesos for opening an ATM account and 10,000 pesos for opening a passbook account. Lastly, you will also have to prepare for 2 pieces of 1×1 or 2×2 ID pictures.

Read also: How to Open BPI Savings Account

2. The application process is just easy. You just have to go to the Metrobank branch near you, and you have to proceed to the New Accounts section. You will be required to fill out application forms and make sure that all information are true and correct. The officer will then encode your information, and you will be provided with a deposit slip or a receipt indicating your account number.

3. Your ATM card will be ready in 5 business days. If you have applied for a passbook account, it should be ready right away after submitting your requirements and after your account has been created.

The post How to Open a Metrobank Savings Account – Requirements and Procedures appeared first on Pinoy Business Ideas.

This college student is known to be Kuya Omurice, according to Facebook, and he is currently taking a socio-political course. When he was in Japan, he was said to be teaching mathematics in a grammar school.

He became popular when a Facebook user named Dianne Adolfo has posted pictures of him selling the omurice around the metro. In the post, Adolfo narrated that she did not realize at first that Kuya Omurice was selling the rice omelet because of the little handwriting on the signage he was holding. She thought that the man needed help until he asked her if she wanted to try his food, saying that he is selling it for only 35 pesos. She immediately said yes to the offer with no hesitation and also asked if she could take a picture with him.

She even said that the food was good and one serving was not enough. She then posted her experience on the social media which suddenly went viral.

The post gathered many various reactions from the netizens because it was something that people would least expect from a foreign national. More importantly, the story has inspired hundreds and thousands of netizens considering that a young foreign man in our own country sells his own product just to earn money to sustain his living and his studies.

The word omurice is derived from the terms omelet and rice, which is a local Japanese food. Fried rice is being wrapped in French omelet and is best served with ketchup on top. The one that Kuya Omurice is selling is prepared and cooked by himself. He then announces his location on his Facebook posts. There was also a post where he said he believes that omurice can change the world.

Watch also the video report from GMA:

The post Japanese Student Selling Omurice in the Metro goes Viral on Social Media appeared first on Pinoy Business Ideas.

Savings account basics

Unlike checking account, a savings account prevents the depositor to withdraw or make several transfer of money. The bank restricts the number of withdrawals that the depositor can make every month. But, it is required to maintain a minimum balance to avoid penalty.

Opening a savings account can help in many ways not only in the present but also for future use. For some people, maintaining a savings account is the key to build your wealth. The interest accumulated in your account will grow over time.

You can also use the money in your account as an emergency fund. This makes sense of setting aside a fraction of your income for emergencies.

There are two types of savings account that you can choose to open. You can open an ATM savings account or passbook savings account. The former allows the depositor to do deposit transaction either through machines or over the counter. But, you can withdraw through ATM.

The latter type of savings account requires using a passbook that you can present when making deposit and withdrawal transactions.

If you’re planning to open a savings account in the Philippines, there are several banks that you can choose from. These banks offer different options of savings account. Banks include BPI, BDO, Metrobank, Union Bank, Citibank, Security Bank and Sterling Bank.

On the other hand, there are other banks where OFWs can open a savings account. The options of savings account that an OFW can open include PNB OFW Peso Account, BDO Kabayan Savings, BPInoy Savings, UCPBs U-Remit ATM Savings and Metrobank OFW Peso Savings Account.

Read also: Reasons Why you Need to Have Mobile Payments

Opening a savings account is very easy as you can do it by going to bank of your choice. Make sure to bring all the required documents and complete the application form. You’ll be required to deposit the minimum balance and wait for a couple of days before the account is activated.

Some banks allow online transaction when opening a savings account. You can also download the application for from the bank’s website and fill it out before going to the bank.

Difference between savings account and checking account

As mentioned above, a savings account is also known as a deposit account. The account holder can keep the money in a bank and at the same time allows to earn interest.

But, checking account is commonly used by business communities and firms. It provides convenience in making daily transactions like making purchases or paying bills. However, the interest rate is smaller than the savings account.

Bottom line

Keeping your money in a bank through a savings account is a smart decision. But, before opening an account make sure to check the reputation of the bank. As much as possible, choose a bank that doesn’t charge higher fees.

The post What is the Importance of Savings Account appeared first on Pinoy Business Ideas.

Investing as little as P10,000 can lead you to financial freedom. With the robust investment options available today, you can choose from many financial products that require low investment amount. You can select from mutual funds, money market placements, equities and unit investment trust funds.

Putting your P10,000 into a high-yielding financial product, it will multiply and grow substantially over a period. Compounding is the easiest way to grow your investment. All you have to do is to choose the right pooled investments that can diversify your holdings.

UITFs and mutual funds are the best vehicle to invest your P10,000. Aside from being affordable, you need not worry about your money because a professional finance manager will manage your fund. Another thing is that you can still withdraw your funds as the need arises, but expect for some fees.

Investing your P10,000 in mutual funds allows your money to grow through the shares earned from various instruments equal to the money you have invested. On the other hand, with UITFs, your money is invested in different instruments like money markets, government bonds, equities and others that are controlled by the Bangko Sentral ng Pilipinas.

Pointers to consider when investing your P10,000

1. Regardless of the amount of money you want to invest and your financial status, it’s essential to identify your financial objective and your willingness to take the risk.
2. You can maximize your gains if you will put your money in a long-term investment.
3. Study how different investment vehicles work and how they can give you better gains.
4. Use and add your extra funds to your initial investment to realize your investment objectives quicker.
5. If you think to invest your money with buying and selling your funds, take time checking the transaction and management fees.
6. Before investing your money to any organization or fund manager, you should check the track record. This way you can ensure if the fund manager has the capability to meet your investment targets.
7. Keep in mind that putting your money in pooled investments involves risks as it is not controlled by the Philippine Deposit Insurance Corporation. Pooled investment isn’t the best option if your objective is to preserve your capital.

The post How to Invest and Grow your P 10,000 appeared first on Pinoy Business Ideas.

There are different options to register your business depending on how it is owned or run. Any business that is owned and run by a single individual, then it should be registered under Sole Proprietor.

Advantage of Sole Proprietor Business

Starting up a sole proprietor business is easy and is cheaper to register for government licenses and permits. Aside from low capital requirement, you have full control on how you’ll run the business including the profits.

Disadvantages of Sole Proprietor Business

As you are the sole owner of the business, you alone will shoulder the risk, liability and potential losses of the business. As much as possible, you should separate your personal assets, otherwise government agencies or creditors may run after your assets in case you failed to repay your loans.

Requirements and Procedure

Registering your business involves several steps and requirements that may overwhelm you. You have no choice but to abide with the procedures set by the government agencies.

• Registration of business name at DTI

Before you proceed to DTI office, you should have prepared at least 3 business names. You can only register your business name only if there’s no name similar to yours. Fill out the BN application form and submit it to DTI the office. Wait for the release of the DTI certificate of registration.

• Registration with the Barangay

Once you acquire the Certificate of Registration, the next step is to register your business in the barangay where it is located. Aside from the certificate of business registration, you need to secure 2 valid IDs and proof of address.

• Secure business licenses and permits from the Mayor’s office

After you claim the barangay clearance certificate, you can proceed to the municipal office and apply for Mayor’s business licenses and permits.

• BIR registration

The last step of registering your sole proprietor business is the BIR registration. Proceed to the BIR regional district office that covers your area. Fill out the application form for Sole Proprietor Business registration and submit it along with other required documents. You also need to register your invoices/receipts and book of accounts before the BIR certificate of registration is released.

It’s important to register your business with the government agencies to avoid penalties and eventually operate your business legally.

The post Sole Proprietorship Business Registration – Pointers to Consider appeared first on Pinoy Business Ideas.

The micro financing program called “3P” or the Pondo sa Pagbabago at Pag-asenso Program is a program by the Department of Trade and Industry (DTI) which aims to help the poor overcome poverty by giving them the opportunities to start their own business.

According to DTI, the program is designed to provide loans at reduced interest rates and is a counter to the 5-6 money lending scheme, which is popular for its very high interest rates.

If you would also want to engage in business but do not have access to credit, here are the things you need to know about availing of this loan.

• You need to show your valid ID’s and a proof of your small business at any P3 accredited partners namely Cebuana Lhuillier Finance Corporation, Taytay sa Kauswagan, Inc. (TSKI), Center for Agriculture and Rural Development, Inc. (CARD), Tulay sa Pag-unlad, Inc. (TSPI), National Confederation of Cooperatives, Inc. (NATCCO), Radiowealth Finance Company, Inc. (RFC), and Mindanao Alliance of Self-help Societies, Inc. (MASS-SPEC).

• You will have to fill out an application form, and will also have to undergo an interview so as to get more of your personal information. As soon as your application gets approved within the day, you will also be able to get your loan in the same day.

• The loanable amount ranges from 5,000 pesos up to 300,000 pesos. You will not be required to have any collateral and the interest rate can reach only up to 26 percent per year. This means that this is significantly lower than the interest rates being charged by 5-6 money lenders. It is also even lower than the interest rates charged by micro financing institutions.

• The target of the said program is the poor provinces in the Philippines, and if you need to know more information, you can visit the DTI office near you.

The post 3P Loan Program – How to Avail DTI Lending Program appeared first on Pinoy Business Ideas.

As for retail businesses, many of the companies, big and small, have adopted the concept of mobile payments. For one, this new technology is not complicated to implement and it is also relatively cheap. If you have a business or just about to launch a new one, here are the reasons why it is important for you to have mobile payments.

1. Transactions can be made possible even without contacts. If payments have to be done, your customers will not need to be in your shop physically in order to make payment through cash or credit card. They only have to use their smart phone to tap the service terminal so that the payment can be made. It uses the technology called Near Field Communication or NFC. This way, the risk of getting the card stolen or lost is also reduced.

2. It will help you increase your sales. When your customers know how easy it is to make payments for when they do their purchases from you, it will significantly increase your sales. This is not something that is only applicable to big businesses because in fact, even small businesses can enjoy the convenience of getting paid right in the comfort of their homes.

Read also: 5 Financial Decisions that People in their 30’s Something Should Make

3. It will cultivate loyalty from your customers. Being connected with your consumers anytime, anywhere will encourage more loyalty to your brand. This is the reason why mobile payments is now a significant factor in the success of many retail businesses.

4. Customers will not have to worry about card hacking. Mobile payments are using a technology that does not require a person to send his credit card information in order to make the payment. What happens is that unique identifiers are used in order to validate and verify the payment, and the card number is never needed. The safety of doing mobile payments is actually one of the great reasons why many businesses adopt it.

The post 4 Reasons Why you Need to Have Mobile Payments appeared first on Pinoy Business Ideas.

One of the most common businesses franchised here in the Philippines are food, clothing and convenience stores. And just a few years back, a Japanese convenience store franchised out in the country – FamilyMart.

Today, it is one of the formidable competitors of 7-Eleven and Ministop, considering that it has been labelled as the world’s second largest convenience store chain. It already has open thousands of branches in many other countries in the Southeast Asia and is now looking forward to opening more in the Philippines.

If this is also a business you would like to consider, here are some of the most important things you need to know to start a Family Mart Franchise.

• You need to be at least 25 years old as a store operator, and must have a bachelor’s degree in college if you will be the sole owner. If this is going to be a corporation, the person who owns majority of the shares is required to attend the training. The franchisee must have the financial capacity to afford the franchise.

• Process the application by submitting the requirements which include your resume and letter of intent, the accomplished application form and certification from the franchise orientation. You will also have to undergo an interview with the franchise manager and will be required to submit your financial documents.

• You will also be required to conduct a market study which you will have to submit to the panelist so they can decide for the approval of your application. Once approved, franchise documents will be issued and you will undergo a training program for a month before officially opening the store.

• As for the total cost of the investment, you will have to have at least 4 to 8 million pesos. It may be a bit of a big capital but you are expected to be rewarded of your return of investment in a matter of just 4 to 6 years. For more information regarding the application, you may visit their Facebook page https://www.facebook.com/familymartph.

Contact Details of FamilyMart:

FAMILYMART (PHILIPPINE FAMILY MART CVS, INC.)
G/F Alco Bldg., 391 Sen. Gil Puyat Ave.,
Makati City, Philippines

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People in their 30’s begin to think or even have started working on savings. Some have even thought about their retirement. You’d realize that being in your 30’s is no longer about gaining new experiences and partying, but is more of thinking about the future.

When you prepare for the future, your finances are always involved. So here are the financial decisions you need to make to make sure you are living the life you deserve and want in your 30’s and beyond.

1. Create a budget. Gone are the days when you are not mindful of how much you are spending and if you are spending more than what you are earning. This is not supposed to be the case anymore. Things should be different now and this is the best time for you to start budgeting, in case you haven’t started it out yet.

2. Try to look for an additional source of income. With the constant increase in the prices of basic commodities, having a single source of income is not enough. If your time can still accommodate it, try to look for ways to earn extra money on the side. Use your skills in writing, baking, or photography perhaps. All we need is a plan B so that you always have a fallback plan when all else fail.

3. Have an emergency fund. Once you reach your 30s, an emergency fund is extremely necessary because you need to make sure you have something to spend during unexpected and tough times.

4. Invest in a property. There is no better time to invest in a property than now. When you are on your 30s, you might also be starting your own family soon, and it is not ideal to still stay with your parents.

5. Your emergency funds should be different from your savings. Your savings is something you set aside for your short term or long term plans. Your savings should be a part of your budget and it will be better if you keep in a separate savings account.

The post 5 Financial Decisions that People in their 30’s Something Should Make appeared first on Pinoy Business Ideas.