8 reasons to start your own business

By Aiza Lumbuan, ANC

Posted at Aug 16 2014 05:58 PM | Updated as of Aug 17 2014 05:54 AM

MANILA, Philippines - If you are still in the stage where you are still unsure whether you can start your own business, maybe you just need a good reason to start one.

Entrepreneur champ and motivational speaker Paulo Tibig outlined 8 reasons why you should start your own business.

First: You can be your own boss. This is perfect for those who are tired of the corporate set-up and the 8:00 am - 5:00 pm grind.

But Tibig notes not everyone can be an entrepreneur. You need to assess your personal entrepreneurial competencies. You must jot down and see if you have the skills, and if you are up for the challenge.

Second: To fulfill a dream.

Getting info business can be an avenue to make your dreams come true.

Third: To manage your own time.

Another reason would be being able to manage your own time. Your time will be more flexible, making it easier to work on your business and other ventures. Being able to manage time efficiently will open a lot of opportunities.

Fourth: To exercise your creativity.

This will allow you to turn your hobby into profit. Tibig says if you have the skills to do something, you just have to improve it and make it work for you.

Fifth: To potentially earn unlimited income.

There are plenty of opportunities and if you are able to couple it with hard work and effort, you can expect limitless returns.

Sixth: To explore endless business opportunities.

You can consider other businesses that will compliment your flagship enterprise.

Seventh: To create more jobs.

If there are plenty of businesses, there are plenty of jobs. With this, Tibig explains purchasing power will go up which will lead to more jobs. Getting into business will help the economy thrive.

Eight: To find your calling.

Entrepreneurship can help you discover your purpose in life.

For more business tips, catch ANC’s “Shop Talk” every Thursday at 7 p.m., with replays at 10:30 p.m. and
every Friday (3:30 a.m.), Saturday (9 p.m.) and Sunday (4 a.m.). ANC's Shop Talk can also be watched
on iwantv.com.ph and on tfc.tv (for viewers outside the Philippines).