By Hazel Angela Javier
Mompreneur is a term that has been coined recently – a combination of mom and entrepreneur. There’s even a website (www.mompreneurmanila.com) and a summit was held in Manila that featured successful businesswomen. The summit aimed to create a network and community for mompreneurs.
Here are some websites and tips that are helpful if you are considering being a mompreneurs.
- You need an entrepreneurial mindset. An article from www.com.ph explains that “would be business people” need to be creative and also logical to find opportunities and to consider how to make the business sustainable.
Another good resource to look on creating a feasibility study can be found at this site:
- Business Opportunities. A 2012 Smart Parenting article shared that 3 industries can be explored as one moves into business: food, internet and retail. It has been said, “One can never go wrong with food.” The trick with the food business is creating the balance of using the ingredients that are not costly but will make your food memorably different. Retail as well has always been there. Resell your target market’s favorite brands and consider how to deliver these products to them.
- Franchising is also another business opportunity with relatively low capital, depending on the food item that you’re going to sell. The cheapest food carts start at P30,000 but this usually only covers the cooking equipment, the cart and a product sampler. There are many websites on available franchises that you can check out if interested.
- For micro, small medium enterprises (MSME), the government agency Department of Trade and Industry (www.dti.gov.ph) posts several options for financing programs. In a recent article from the online portal of Entrepreneur magazine (www.entrepreneur.com.ph), the Sustainable Livelihood Program of the Department of Social Welfare and Development (DSWD) also gives financial assistance to families in rural areas. Usually these families can start handicraft-making or running a sari-sari store.
- There are several ways to market your product. With the rise of social media, a mompreneur can connect with a potential customer through postings in sites like Facebook! Of course, word-of-mouth marketing still works wonders. It just takes one satisfied client letting her friends know. You can also participate in bazaars.
- Permits and licenses. Depending on the type of product offered, permits are required from regulatory bodies such as National Food Authority (NFA) if dealing with rice, corn or flour; or Garments and Textile Industry Development Office (GTIDO) if manufacturing or exporting garments. The full list of government agencies involved can be viewed at the DTI website. Remember that registering with DTI will ensure that your business name can’t be copied by another and that you’ve met certain standards and have complied with documentary requirements.
Those are just some things to consider but of course, the first thing to consult is to ask the Lord if this is the way He would prosper you. Let Proverbs 19:12 guide you always: “Many plans are in a person’s mind, but the LORD’s purpose will succeed.”
