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Ideas & Opportunities
Begin a business on a budget (Part 2)
Jan 30, 2012
No matter how much capital you have, there’s a business to be had. Is one hundred thousand pesos enough to start a car-wash business? Yes. Is P200,000 good for your own clothing and accessories shop? Check. How about a bakery for 250 grand? Yup. Your own restaurant for P400,000? Uh-huh. Will P450,000 be enough to open a grocery store? Oh yes.
You can begin a business on a budget—and it doesn’t have to be a food cart or a fly-by-night business franchise (although food carts are great business concepts in their own right). Apart from ideas, each person always needs two resources available to start a business: time and money.
Clothing and accessories
Being well-traveled has its advantages. For Mathea Ang, one of the benefits is being inspired by new designs in fashion—and another is getting the idea to start a clothing and accessories business of her own.
Although Marmalade Fashion and Boutique, Ang’s clothing brand and store, officially opened on May 10, 2010, the 22-year-old was into business long before that. As early as 2006, she was joining bazaars and tiangges, honing the entrepreneurial instinct she boosted by enrolling in the University of Asia and the Pacific’s Entrepreneurial Management program.
She admits she started Marmalade “because of the (college) course, and the encouragement of my family to start my own business” so to show her commitment, she poured in P200,000 of her personal savings into the venture. She continued to join bazaars, selling mainly lingerie from both local and international suppliers, but when sales were slow she added some clothes of her own design and some accessories.
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