Divisoria, a bustling flea market in Manila’s Chinatown, is known as the “mother of all markets.” It provides opportunities for established Filipino-Chinese businesses as well as recent immigrants from China.Filipino-Chinese families in Binondo, who themselves transitioned from street vendors to successful business owners through hard work and saving, extend support to newcomers. These families play a vital role in the Philippine economy, and their stories exemplify the classic “rags to riches” narrative.Divisoria now includes big-name stores and malls offering a wide variety of goods, from clothing and accessories to electronics and home decor. Shoppers can find almost anything for daily use at Divisoria.A saying goes that if you can run a business in Divisoria, you’ve earned your MBA. Many shop owners are new immigrants who hire local employees. Despite limited English and Tagalog, their businesses often thrive due to high turnover.Integrity is key to success in Divisoria. Traditional Chinese business culture emphasizes keeping promises. With this understanding, even someone starting from scratch can build a business.For example, a new immigrant from Fujian, China, might lack the funds to open a shop. They could seek help from their clan association in Chinatown. These associations, numbering in the hundreds, connect people with shared ancestry. Clan members can verify the immigrant’s background and reputation in China.Industry associations can also provide valuable information, such as supplier contacts, business models (wholesale or retail), customer preferences and relevant regulations.Gaining the trust of clan members and townspeople is crucial. Credit purchases, where goods are obtained first with payment coming later, are a significant form of support offered by the local Chinese community.These arrangements can vary. Consignment sales involve paying only after selling the goods. Post-dated checks, 30-day to 60-day payment terms, and commission sales are other options. Regardless of the method, immigrants can start businesses without upfront investment.The Chinese business community prioritizes good credit. Building trust and maintaining a good reputation are essential for long-term success. Those who act in good faith can start with nothing, but dishonesty will lead to exclusion from the community.
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