[Ask TBM] How to Start an E-commerce Business with Limited Capital
Want to start a business but have little capital to work with? E-commerce is the answer. To get you started, we ask Great Deals Founder Steve Sy for tips and advice.
E-commerce has quickly built traction over the course of the years—even moreso during the pandemic. In fact, data from the Department of Trade and Industry (DTI), showed that e-commerce increased the nation's GDP by 3.4%, or around PHP 664 billion in 2020 alone! Moreover, having a vibrant economy and a large population that's savvy in digital technology, has made the Philippines the fast-growing E-commerce market in Southeast Asia.
With that being said, many e-commerce websites and digital applications have entered the market. This means more opportunities to do business from anywhere—even in the comforts of your home, without the need for a physical store. And the best part? You don't need a lot of capital to get started.
For those who want to explore the novel idea of e-commerce, we consulted Steve Sy, the Founder of Great Deals E-commerce—a one-stop-shop e-commerce enabler that is also one of the fastest-growing startup companies in the Philippines.
What are the advantages and opportu
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