When you ask Overseas Filipinos what they dream to have in the future, most will say it is having their own business and be the boss of their own company.

Even Olympic gold medalist Hidilyn Diaz hoped to be an entrepreneur. Her interest in business came after winning in the Rio 2016 Olympics. She was thrilled to use her prize money in opening a gym in her hometown, only to close it down after a few months.

Her unfortunate experience in starting a business, however, did not stop her from trying again. In fact, after winning the gold in 2020 Tokyo Olympics, she now owns and manages several businesses.

As a first-time small business owner and business management scholar, Hidilyn shares three useful tips before diving into micro-entrepreneurship.

First, study the business you are interested in. Before thinking of using up all your life-savings, make a thorough research first about the industry you are planning to explore.

“Nag-invest ako sa isang gym pero hindi ko naiintindihan ang pagne-negosyo. Mas okay na alam natin ‘yong pinapasok nating business at hindi basta-basta lang magne-negosyo. Dapat pinag-aaralan muna talaga,” shared Hidilyn.

Second, find a mentor or coach who can give proper guidance in running your business. Having an advisor with greater experience and entrepreneurial skills is important.

In Hidilyn’s weightlifting profession, her coaches provide guidance from the training sessions to competition. In business, you also need to have a consultant or an expert in the field whom you can ask for direction.

Third, know the opportunities that can help you carry out your business plans. Friends and relatives do not always have to be the only source of additional capital. There are banks who support micro-entrepreneurs and can provide the funding for your business needs.

According to BDO Network Bank (BDONB) senior vice president and MSME group head
Karen Cua, “BDONB is the bank for micro-entrepreneurs. With the help of Kabuhayan Loan, the bank can fund your requirements to support business operation at expansion.”

Pio Conti of Cabuyao, Laguna is a small business owner who took advantage of this opportunity. He used Kabuhayan Loan as additional capital to increase his inventory of stocks. By taking the loan, he was able to preserve his savings, making him worry-free with the ready cash he can use in the event of an emergency.

For Yolanda Arranquez and her OFW husband, Kabuhayan Loan was big help in keeping their business running to support the needs of their family.

“Bukod sa pinapadalang remittance ng aking asawa, mayroon akong daily income para sa pang araw-araw na gastos,” added Yolanda.

To know more about Kabuhayan Loan, OFWs and their beneficiaries can visit the nearest BDO Network Bank branch in their area, or may inquire through BDO Network Bank PH official Facebook page at https://www.facebook.com/BDONetworkBankPH.

Sama-sama tayo! Through BDO Network Bank Kabuhayan, Pio Conti of Laguna (left photo) and Yolanda Arranquez of Davao grew their businesses even amid the pandemic

Related Stories:

• Learn more about BDO Network Bank’s Kabuhayan Loan
• BDO Network Bank backs MSMEs as drivers of economic growth
• A life lesson from Olympic gold medalist Hidilyn Diaz