I made a very interesting discovery. Filipino inventors are not rare. In fact, we have quite an impressive roster of them in some websites. Google “Filipino investors” and here are some of the information you would find.

Inventions range from incubator, fluorescent lamp, a water-powered car, the karaoke system, a videophone, erythromycin, a chip that makes computers work a lot faster and the Ethernet controller chip that made the Internet possible, and a revolutionary fuel half-composed of water. (Source, DOST website)

So why haven’t we heard of them? Why do we know more about Microsoft and Post-It and other products that are were not invented in our own shores?

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Few businesses can operate without using a computer, and computers need software to operate. Does it still make sense to cut corners by using pirated software?

Consider the following figures:

1,962 – the number of raids made by the Philippine Anti-Piracy Team
3.3 million – optical disks seized in the raids
P876 million – estimated street value of optical disks seized
206 – computers seized as of November last year
15 – sacks of pirated CDs of software valued at P14.3 million seized

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How hard is to be a full-time employee with a business on the side? For many of us, it will not be practical to leave our full-time employment and depend totally on our small business.

This single mom found that it was very tough, yet she succeeded due to hard work, persistence and because she had another quality that is so important to entrepreneurs – the ability to find help when the going gets tough.

Of the many entrepreneurs I interview, I notice that a common trait is the ability to network and find the person who can provide the needed help at the right time. This is especially important for those whose time is divided between a full time employment and a part-time business.

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A few months back, a friend proposed a franchise business to me that cost only P10,000. The business plan would allow me to choose whether to get a waffle stand, a burger stand and some other options I don’t recall anymore. She had forked over her money to the company before she met with me and she told me it would be a good business for both of us. I winced. I didn’t want any part in the business.

First, it had no track record and sounded too much like a network marketing business that was trying to sound like a franchising business. I know some very good companies that use network marketing strategies, but when there’s deception involved – even just a little bit – I know from experience that it’s best to stay away.

This article from MoneySense talks about five franchising myths to watch out for:

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We received this question from Mr. Edwin Catindig in response to my blog post on how to increase your chances of getting that bank loan approved.

I am interested in getting a loan for my projects next year. I want to know the ins and outs on how to get a loan. Can I use an “APPROVED PURCHASE ORDER” from my customer as a collateral for my loan or what other options can I avail? My expected loan amount is approximately P2 million and what collateral can I offer to the bank in order for my loan to be approved.

Thank you and I hope to hear from you soon.

Edwin Catindig
MJJP Enterprises

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