Either the Filipino Chinese, locally known as Chinoy, are born traders and entrepreneurs, or it is the luck that feng shui charms bring them – they only know.
To begin with, the Chinese were the first trading partners of Filipinos, even before Spain colonized the country. Binondo, otherwise known as Chinatown, is the first financial district of the country, even before the high-rise buildings of Makati came to existence. And if you’d look at the top entrepreneurs of the country, most of them are of Chinese descent.
So, one can’t help but ask, what are the Chinoy’s doing that makes their business click?
Having started and run his own business over the past decade, Cris Chiong shares his insights into what a Chinoy entrepreneur does to succeed in business:
Owning a business means never going beyond your means.
“I don’t think it’s a uniquely Chinoy perspective to realize that start-ups will not survive if you are not pragmatic about managing limited resources. “In our company this was reflected when we always reinvested earnings back into the company to fund the business and took pay cuts especially when cash flows are not sufficient. Everyone was expected to be able to multitask—we often did everything ourselves from fixing lights in the office to driving our delivery trucks. We bought second-hand furniture and equipment if it was in good condition to keep costs down.”
Page 2: More Chinoy lessons on how to run your business