According to a research done by the Philippine unit of Canada-based insurance giant Manulife Financial Corp., about four in 10 Filipinos established new businesses at the height of the COVID-19 pandemic lockdowns. | AldenMonzonINQ /PDI
While her goodies are mostly for delivery, her newfound success has allowed her to open a cozy private kitchen in Makati where she also offers croissant-themed tasting menu for small groups. Among her unique creations are croissants withShe plans to open up her brand for franchising in the future.
According to Manulife Philippines, 41 percent of respondents started businesses during the pandemic, with up to 50 percent of them saying they are very likely to continue their operations in the new normal.For 43 percent of those people, the main reason for starting a business is to earn income; 34 percent, to maintain financial stability, and 8 percent, to provide convenience and accessibility to people.
With the emergence of these new businesses and the dynamics that the pandemic has brought, Manulife Philippines says interest in insurance products among new business owners increased during the health crisis.
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