Small Businesses in the Philippines
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Questions and Answers

Which factor most significantly contributes to the sustained success of water and LPG stations in the Philippines?

  • The products cater to daily essential needs. (correct)
  • The increasing number of households.
  • Government subsidies.
  • Their reliance on innovative marketing strategies.

A direct selling business is characterized primarily by what?

  • Use of celebrity endorsers to promote products.
  • Selling products through a physical retail store.
  • Face-to-face interaction between seller and buyer. (correct)
  • Online advertisement of products.

Why has the popularity of car wash and car care businesses increased in large cities?

  • The growing number of privately owned vehicles. (correct)
  • An increased demand for car detailing services only.
  • Government regulations mandating regular car maintenance.
  • An increase in the use of public transportation.

What is the primary means through which a blog generates income for its owner?

<p>Monetization through advertisements. (B)</p> Signup and view all the answers

What foundational skill is most vital for success in web site development and design?

<p>Ability to conceptualize and implement websites. (B)</p> Signup and view all the answers

Why are sari-sari stores considered one of the easiest businesses to set up in the Philippines?

<p>They require minimal capital and can be managed at home. (B)</p> Signup and view all the answers

How does the consumption of rice in the Philippines contribute to the prevalence of rice retailing businesses?

<p>Rice is a staple food, with a significant portion of income spent on it. (C)</p> Signup and view all the answers

What is a key factor contributing to the popularity of food cart businesses in the Philippines?

<p>They are strategically located in high-traffic areas like malls and schools. (A)</p> Signup and view all the answers

Which of the following statements best describes the relationship between sari-sari stores and the communities they serve?

<p>They provide affordable basic retail products to nearby communities. (D)</p> Signup and view all the answers

Considering the Filipino diet, what implication does rice consumption have on the economy?

<p>Significant impact as a large portion of household spending is on rice. (D)</p> Signup and view all the answers

How might the high visibility of food carts in public spaces affect consumer behavior?

<p>Encourages impulse purchases due to convenience and accessibility. (A)</p> Signup and view all the answers

Which factor contributes significantly to the success of laundry and cleaning businesses located near schools and apartments?

<p>Residents' lack of time for personal laundry tasks. (D)</p> Signup and view all the answers

If a person has minimal capital and wants to start a business, which option aligns best with their situation, based on the text?

<p>Setting up a sari-sari store at home. (C)</p> Signup and view all the answers

Aside from haircuts, what auxiliary services commonly contribute to the profitability of hairstyling businesses in the Philippines?

<p>Hair treatments, massage, and nail styling. (D)</p> Signup and view all the answers

How has increased health consciousness among Filipinos affected the spa, gym, and nail care business sector?

<p>Increased popularity of gym memberships, spa visits, and nail care services. (A)</p> Signup and view all the answers

What can you infer about the business environment in the Philippines based on the popularity of sari-sari stores, rice retailing, and food carts?

<p>It presents numerous opportunities for small-scale, community-based businesses. (D)</p> Signup and view all the answers

How has the prevalence of social media influenced the video and photography business?

<p>Increased demand for capturing and sharing moments online. (C)</p> Signup and view all the answers

What primary need does the tutorial business address within the Philippine education system?

<p>Catering to students needing reinforcement and enrichment of basic education knowledge. (B)</p> Signup and view all the answers

If a business owner is considering opening a laundry shop, what is the MOST important hygiene requirement they should prioritize?

<p>Implementing strict cleaning protocols and sanitation. (C)</p> Signup and view all the answers

A spa owner wants to attract more male customers. Which strategy would likely be MOST effective based on trends described?

<p>Ensuring the tutorial sessions are engaging and effective. (B)</p> Signup and view all the answers

Which of the following best describes entrepreneurship?

<p>A proactive process of developing a business venture to make a profit. (D)</p> Signup and view all the answers

What characteristic defines an entrepreneur?

<p>A unique individual with dedication to establish and manage a business, acknowledging risks and rewards. (A)</p> Signup and view all the answers

What is a key advantage of a sari-sari store as a business?

<p>Minimal capital is required and it can be managed at home. (A)</p> Signup and view all the answers

Why is the buy-and-sell business considered lucrative in the Philippines?

<p>Because the demand is very high. (D)</p> Signup and view all the answers

Where are laundry and cleaning businesses typically located?

<p>Central business districts and areas with several condominiums and townhouses. (A)</p> Signup and view all the answers

What is a key feature of online selling businesses?

<p>Adding the Internet as a marketing and transaction channel for selling. (D)</p> Signup and view all the answers

What characterizes the modern buy-and-sell business in the Philippines?

<p>Emerging businesses that operate both in physical stores and over the Internet. (C)</p> Signup and view all the answers

What makes water refilling stations and LPG stations reliable businesses?

<p>They continuously serve essential household needs. (B)</p> Signup and view all the answers

A food cart business is considering expanding its menu. Based on the provided information, which combination of items would be most consistent with typical food cart offerings?

<p>Dumplings, shawarma, and sago't gulaman. (D)</p> Signup and view all the answers

A printing business wants to expand its services. Which of the following options aligns best with the existing services and target markets mentioned?

<p>Offering customized printing for wedding invitations and student projects. (D)</p> Signup and view all the answers

A buy-and-sell business is looking to differentiate itself in the market. Which strategy would best leverage the current trends in the Philippines, as described?

<p>Establishing an online platform for efficient and practical goods exchange. (D)</p> Signup and view all the answers

A street food vendor wants to introduce a new grilled item to their menu. Based on common street food offerings, which of these options would likely be most successful?

<p>Grilled isaw (chicken intestines). (C)</p> Signup and view all the answers

A flea market vendor is deciding what type of goods to sell. Considering the typical characteristics of flea markets, which of these options would likely be the least profitable?

<p>Rare and expensive antiques with fixed prices. (D)</p> Signup and view all the answers

An entrepreneur wants to start an online selling business. Which strategy would be most effective in leveraging the advantages of this business model?

<p>Utilizing the internet as a marketing and transaction channel. (A)</p> Signup and view all the answers

An entrepreneur is deciding between opening a food cart business near a busy office area or investing in a printing business near a university. Which factor should they most consider when making this decision?

<p>The demand for quick meals versus printing services in each location. (D)</p> Signup and view all the answers

A business owner currently operates a successful street food stall selling grilled meats. To expand their business based on the information, which complementary venture would be the most logical extension?

<p>Establishing a food cart offering similar grilled items and beverages in a nearby location. (C)</p> Signup and view all the answers

Which factor, if improved, would likely have the least impact on fostering inclusive growth in Philippine entrepreneurship, according to the text?

<p>Mandating specific attire for entrepreneurs to project a professional image. (D)</p> Signup and view all the answers

Ryan Patrick G. Evangelista's article highlights the importance of enterprise networks. Which of the following scenarios best exemplifies the positive impact of a strong enterprise network on a Philippine startup?

<p>A tech startup gains access to mentorship, funding, and potential clients through connections made at an industry association event. (D)</p> Signup and view all the answers

Suppose a new law is introduced that significantly reduces bureaucratic hurdles for starting a business in the Philippines. Which of the following entrepreneurs would benefit most from this change?

<p>A small-scale vendor in a rural area who lacks formal education and resources. (C)</p> Signup and view all the answers

Which of the following scenarios best illustrates how strengthening the rule of law can foster entrepreneurship in the Philippines?

<p>An entrepreneur is confident in investing in a new venture because contracts are reliably enforced and property rights are protected. (C)</p> Signup and view all the answers

If the Philippines aims to enhance the internationalization of its SMEs, which strategy would likely be most effective?

<p>Establishing trade agreements with countries that offer preferential treatment to Philippine products. (A)</p> Signup and view all the answers

A Philippine-based startup is struggling to secure funding from local banks due to a lack of collateral. Which initiative would most directly address this challenge and promote access to financial institutions?

<p>Establishing a government-backed credit guarantee scheme for SMEs. (A)</p> Signup and view all the answers

Which approach would be least effective in nurturing an entrepreneurship paradigm in the Philippines?

<p>Discouraging risk-taking and emphasizing job security in career counseling. (A)</p> Signup and view all the answers

Considering the challenges faced by Philippine entrepreneurs, which government policy would likely have the broadest positive impact on enterprise development and competitiveness?

<p>Investing in infrastructure projects such as roads, ports, and telecommunications. (A)</p> Signup and view all the answers

Flashcards

Sari-sari store

Small convenience stores in the Philippines, found in most neighborhoods, offering affordable retail products.

Advantage of Sari-sari store

Easy to set up with minimal capital and can be managed from home.

Rice Retailing

Selling rice to consumers, common due to rice being a staple food.

Rice Expenditure

A significant portion of Filipino's income is spent on rice.

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Food Cart Business

Mobile food vending businesses found in high-traffic locations.

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Common Food Cart Locations

Malls, schools, parks, train stations, and offices.

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Baking Business

A business centered around baking, common in the Philippines due to bread being a staple food.

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Website Dev/Blogging

Conceptualizing and implementing websites, or creating content on a personal blog to generate income through ads or influence.

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Direct Selling Business

Face-to-face selling of products like fashion, health items, and homecare goods, directly to customers.

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Car Wash & Care

Providing services to clean and maintain vehicles, a growing demand in urban areas with many cars; this business sees increasing demand every year.

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Water & LPG Station

Businesses providing essential resources for daily needs, found in many neighborhoods due to constant demand; providing access to purified water and LPG for households.

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Online Selling Business

Selling existing products online, similar to a buy-and-sell business.

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Laundry and Cleaning Business

A business focused on washing, drying, and cleaning clothes for customers.

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Hair Styling Business

A business providing haircuts, styling, and treatments like perms and highlights.

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Spa, Gym, and Nail Care Business

A business that offers relaxation and wellness services, as well as exercise facilities.

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Video and Photography Business

Capturing photos and videos of events like weddings, birthdays, and graduations.

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Tutorial Business

Providing expert knowledge in a specific field to students for a fee.

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Auxiliary service

Auxiliary service from hair styling, massage, and nail styling.

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Social Media

This business is gaining popularity because of social media, where videos and photographs are supposed to be shared to other people.

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Printing Business

A business that provides printing services for businesses and events.

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Buy-and-Sell Business

Purchasing goods to resell them for a profit, both online and offline.

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Street Food Business

Selling food items directly on the streets, often grilled or unique dishes.

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Flea Market Business (Tiangge)

Entrepreneurs selling various goods such as clothes, food and souvenirs, often in an open-air or market setting where bargaining is part of the experience.

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Sago't Gulaman

Tapioca pearls and jelly in a sweet drink

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Balut

Fertilized duck egg with a partially developed embryo, boiled and eaten from the shell

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Entrepreneurship

The study of setting up a business, considering the risks and rewards.

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Impediments to Entrepreneurship

Factors or events that prevent entrepreneurs from succeeding.

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Enterprise Development

Enhancing firms' abilities to compete effectively in the market.

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Competitiveness

The ability of a business to outperform its rivals.

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Rule of Law

The principle that all individuals and businesses are subject to and accountable to the law.

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Access to Financial Institutions

The ability of entrepreneurs to get loans, investments, and other financial resources.

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Internationalization

Integrating a domestic business into international markets and supply chains.

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Enterprise Networks

Collaborative groups of businesses that share resources and knowledge.

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Entrepreneur

A unique individual with innate ability and dedication to establish and manage a business, acknowledging risks and rewards.

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Water station and LPG station

A business that provides purified water and refills gas tanks.

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Study Notes

  • There are listed common small businesses in the Philippines

Sari-sari Store

  • There are approximately over one million sari-sari stores in the Philippines
  • Found in most neighborhoods, providing affordable basic retail products
  • It's one of the easiest businesses to set up because of the minimal capital and can be managed at home

Rice Retailing

  • Rice is a staple food for Filipinos and other Asian countries, making rice retailing very common
  • Filipinos spend 20% or 20 centavos per peso on rice, according to Rappler (2012)
  • An average Filipino consumed 92 kg of rice from the 1980s to 1990s, 119 kg from 2009 to 2010

Food Cart Business

  • Food cart businesses are popular, found in almost every populous location such as malls, schools, parks, train stations, and offices
  • Popular food items sold include:
    • Siomai
    • Boiled fertilized duck and quail eggs (tokneneng and kwek-kwek)
    • Fish balls and squid balls
    • Burgers
    • Fried noodles
    • Shawarma
    • Hotdogs
    • Sandwiches
    • Pizza
    • Donuts
    • Pastries
  • Popular beverages include:
    • Sago't gulaman
    • Soft drinks
    • Mineral water
    • Milk tea
    • Coconut juice
    • Other juices
  • Food cart businesses typically operate under franchising arrangements

Printing Business

  • It's a lucrative business due to high demand
  • Commonly located near schools and offices, catering to students' projects and business requirements such as flyers, billboards, magazines, newspapers, journals, and calendars
  • Also serves printing demands for occasions like weddings, anniversaries, birthdays, funerals, and graduations

Buy-and-Sell Business

  • It's an emerging business in the Philippines, conducted in stores and over the Internet
  • Online platforms have changed the way Filipinos exchange goods efficiently and practically
  • Anyone can be a seller even without an actual business location

Street Food Business

  • Widespread in the Philippines, selling similar products to food carts
  • Most street food vendors sell grilled food items like barbecue
  • Popular street foods include:
    • Isaw (chicken intestines)
    • Betamax (chicken blood)
    • Adidas (chicken feet)
    • Balut (developing duck embryo)
  • Street food remains successful and timeless

Flea Market Business (Tiangge)

  • Entrepreneurs set up a small space in an open-air market (palengke) setting to sell various goods
  • Customers bargain for prices on clothes, food, souvenirs, and household goods

Online Selling Business

  • Similar to buy-and-sell, but focuses on selling existing and established products online
  • The Internet has revolutionized business transactions in the Philippines

Laundry and Cleaning Business

  • Often located in central business districts, condominiums, townhouses, schools, dormitories, and apartments
  • Caters to residents who lack the time to wash and dry clothes
  • Business owners must adhere to hygiene requirements

Hair Styling and Makeup Business

  • Successful business includes parlors and barber shops
  • Offers haircuts and auxiliary services like hair treatments (perm, straightening, highlighting), massage, and nail styling
  • Filipinos are generally conscious about grooming and hygiene

Spa, Gym, and Nail Care Business

  • Related to hair styling and makeup, providing stress relief through spas
  • Offers massage treatments, facials, and body scrubs
  • Gyms cater to health-conscious individuals.
  • Nail care is popular among Filipino women, while men focus on overall appearance

Video and Photography Business

  • Captures important moments like weddings, birthdays, anniversaries, and graduations
  • Gaining popularity due to social media sharing

Tutorial Business

  • Caters to students needing help with lessons or wanting to excel
  • Experts offer knowledge for a fee, reinforcing and enriching students' education

Baking Business

  • Bakeries exist in most neighborhoods due to bread being the second staple food of Filipinos
  • Pan de sal is the most common bread

Website Development and Design/Blogging

  • Website developers create websites for businesses to inform, persuade, and remind customers
  • Blogging, initially for personal thoughts, can generate income through followers/readers or ads

Direct Selling Business

  • Common in the Philippines, done face-to-face by sales agents
  • Products include fashion accessories, health and wellness items, clothing, food supplements, and homecare items

Car Wash and Car Care Business

  • Often seen in cities due to car proliferation, with demand increasing

Bar, Café, and Restaurant

  • Foodies have increased due to globalization, evolving consumer demand for variety and quality

Water Station and LPG (Liquified Petroleum Gas) Station

  • Businesses continuously supply households, used for daily consumption

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Entrepreneurship in the Philippines: Small Business Overview

Description

Overview of common small businesses in the Philippines, including sari-sari stores, rice retailing, and food cart businesses. These ventures are popular due to their affordability, ease of setup, and the high demand for basic goods and food items. They thrive in various locations, catering to the needs of local communities.

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