Top 4 Ways to Help You Fund Your Start up Business

If you have been dreaming of having your own business way before, and now have the necessary knowledge and skills to do so, the only thing that you need to ensure is your finances.

By simply wading through tons of business tips, you’ll be able to determine specific techniques you can use as references for funding your start-up business. To better guide you with this new venture, here are the top 4 ways that can help you in financing your business.

Personal Savings

Since you’re starting a business, ensuring that you have a good amount of personal savings that you can utilize is crucial. This fund can come from your hard-earned money from either your previous or present job, or inherited from your parents too.

Regardless of its source, knowing that you value money is important as your dive into the risky yet fulfilling business landscape.

Seek Assistance from Family and Friends

If you’re a young entrepreneur that doesn’t have any savings yet, but very eager to start a business, you may seek financial assistance from your family or friends.

Aside from the ease of borrowing from them, you’ll also have a flexible payment period. Further, there’s a good chance that they would not ask for any interest.

However, you should stay true to your word and be responsible by paying your debt on agreed period, and keeping an open communication if in case you miss a schedule.

Government Agency Loan program

Government agencies like the Social Security System (SSS) and Home Mutual Development Fund (Pag-ibig) offer cash loans with reasonable interest rates, as well as flexible payment terms.

You could either check their official websites or visit the nearest branch in your vicinity to know the requirements that you would be needing to apply for a loan.

Credit Card

Credit cards are of great assistance when making huge purchases but come with high-interest rates ranging between 8-13 percent.

Then again, just like any financial option, it still requires complying with the requirements, processes, and understanding all its included terms.

So, whenever you are ready to start your own business, keep in mind these four tips to know which best suits you, your needs, and of course, your capabilities.

Posted in Tips & Advice | Tagged , | Leave a comment

Key Points in Starting an Online Business in the Philippines

With every passing hour spent on the internet, it didn’t take long for Filipinos to discover the advantageous profitability of being online. Whereas, businesses have perceived the enormous impact of being online and engaging with communities because of the continued popularity of social networking sites.

As cool and easy as it sounds, setting up an online business is actually a tough journey to pursue considering the several competitions at bay—all vying for the same goal you’re targeting.

In a battle of creativity and stepping ahead, your best weapon will be your determination and skills. So, are you all fired up for your first online business? Hold your horses and check out these key points first to ensure a productive year ahead for your business endeavors:

Your very own expertise will be the frontrunner and lifeblood of your online business, and aside from your skillset, a business plan is also necessary.

Begin creating your business plan with your objectives and budget. What kind of product or service do you intend to introduce in the market? How much will you spend on the website’s design and maintenance? What will you name your business?

All of these must be of interest and can benefit the majority or your prospective customers. Research a lot and weigh the competition of the market. Observe the involved corporations to explore options on how you can make your business entry stand out.

Your business plan may also include possible ways to resolve issues, especially when it includes online transactions where money and confidential personal data should be secured.

  • Generating a Searchable Domain

The domain will be the sturdy home of your business on the World Wide Web. It must complement your business’ name and be searchable so that people would stumble upon your website with just a simple keyword search.

Countries and institutions have their own specified domain suffix. In the Philippines, .ph is the standard, and there are several domain registrars in the Philippines that accepts payment in peso such as GoDaddy and dotPH.

If you’re opting for a .com or .net, some may require payment through credit card as the majority of their registrars are based overseas.

  • Hunting for the Best Hosting Provider

Because first impressions last, so should your web site’s impact on the visitors. After thinking of the domain name and registration, comes the legwork of finding a hosting provider.

The website host will provide your business the space it needs on the internet. It acts as the processor for your site’s file and server maintenance, lodgment, and more importantly, a speedy connection to the internet.

Website hosting is a costly expenditure, as the host must be paid monthly. Don’t believe free hosting sites that you see on some web page ads, as most of these will cause lots of downtimes that can be a tremendous loss for your online business’ schedule.

It’s better to invest with a reputable web hosting service to secure your business’ continuity and warrant on the internet.

  • Coordinating with Web Developers

Taking care of a website is not an easy job. It needs frequent maintenance, especially with numerous updates with Google and other search engines.

Your site must keep up with these trends and get rid of spam and harmful elements that might cause your site’s downfall.

If you have a trusty friend who’s a web developer or a freelancer specializing in web development, you may ask them for help as they may have extensive web offerings that you can avail of.

  • Tending Your Web Site’s Content

After growing and taking care of your website comes the fun part—introducing your online content and features to the public!

Proceed with the first step in your business plan. Engage with online communities and groups of interest that can relate and (if you’re lucky) refer your online business with future customers.

Relying on search engines is not enough, as there are millions of sites on the internet. What are the odds that you’ll catch a handful of visitors in a month’s time?

Use your social networks and tell the forums and discussion boards of your business. After promotions, continue to produce quality content in the form of videos, images, or articles that people can be interested with and be engaged to subscribe to your website for more.

As more and more Filipinos hang out online, so does businesses who have chosen the internet as their next resource for financial purposes.

The competition may be heavy, but opportunities await business owners who are still starting in the field.

Posted in Uncategorized | Tagged , | Leave a comment

Getting a Personal Loan for the Holidays

Personal Loan

Image courtesy of Infinit Accounting


December has come, and we all know what that means—the holidays are really upon us. With all the festivities happening this season, also comes a lot of gift shopping not just for our loved ones, but for ourselves as well.

Besides that, there are a lot of other things to spend on during the holidays such as food, parties, and vacations. So, it’s important to keep your money in check, since it’s easy to fall short during this hectic period of the year.

For this reason, you may take advantage of holiday loans offered by financial institutions (i.e. banks and credit unions), so that you won’t have to worry about your finances. A holiday or personal loan in the Philippines can be used for all your Christmas-related expenses, and it carries a low-interest rate, unlike short-term loans.

To walk you through the concept of acquiring personal loans for the holidays, we’ve provided relevant information that you should know to get the most out of this season.

Types of Holiday Loans
There are two options when it comes to holiday loans, namely personal loan and personal line of credit.

A personal loan typically has a fixed interest rate and payments, so that it is made in equal amounts over a specified period. It doesn’t also require any form of collateral such as your home or car.

On the other hand, a personal credit line involves tapping into funds only when deemed necessary. After the funds have been repaid, more funds can be borrowed again without having to re-apply for a new loan.

Interest is paid only on the amount of money loaned, which is very convenient, as it is a bit flexible and you’ll only have to borrow when necessary. The downside to this, however, is that it may lead to overspending.

Holiday Tips
To alleviate the problem of excessive spending during the holidays, and so as to not be buried in loan payments, it’s best to set a budget for holiday spending.

We all know how easy it is to get caught up on buying things during this time, since we like to reward ourselves for getting through the year and, well, because it’s Christmas. But, setting a budget is a wise move in ensuring that you don’t get too much into it and go overboard on your spending.

Another thing to note regarding holiday loans is to avoid borrowing more than you can repay. While these loans are convenient for the meantime, it’s important not to forget that payments have to be made sooner, rather than later. So, always keep this in mind.

Also, make sure you’ll be able to say no to impulse purchases if you can. If it is still within your allowable holiday budget, then go ahead. Then again, if you’re already on the ropes on your loan, then it’s best to say no for now because you can always buy that item later on.

The holidays are probably one of the happiest times of the year, and it’s the period when we like to give gifts to our family and friends. Also, a lot of people take this opportunity to travel.

Personal loans are a great option if you’re in need of extra cash to buy those gifts, especially when you’re feeling extra generous or going on that year-end trip that you’ve been planning for a while now.

While there are no issues with doing these, just make sure to use your loan wisely so that you can enjoy the holidays without worrying about post-holiday debts.

Posted in Loans in the Philippines, Tips & Advice | Tagged , , | Leave a comment