Are a Foreign investor eyeing the Philippines? This might help you decide.
Key Points Before Putting up a Business:
- Start-up Costs
- Business Plan
- Competitions
- Location
- Insurances
- Registration & licenses
- Legal Obligations
- Research
- Marketing
- Consider Pull And Push Factors – like environmental issues, government policies, technologies
PSEi Composite Index Statistics for 7 Years Range
The image below shows the Philippine main index performance for the range of seven years. According to Time Magazine from its article entitled Forget the BRICs; Meet the PINEs, Philippines is one of the top emerging markets in Asia and continuing to show economic strength.
Image Source: ADVFN – Philippines Market Summary
Top Business Opportunities for Foreigners
Below are the top performing business that foreigners may indulge according to their interests and expertise.
- BPO – business process outsourcing which is the subset of outsourcing, has been the top contributor in the Philippine economy. Offshore outsourcing jobs such as call center activities, computer programing activities, data processing, medical transcription, other information technology and computer activities, software publishing, application hosting servicies, motion picture, video and television program activities, administrative and support service activities are top working opportunities that most investors trust for Filipino workers. Filipinos are known to be industrious, because they wanted to assist their families on giving them the right financial needs. As long as Filipino rights are being respected, given them the right work benefits and compensation, they will be the vital key to a successful business.
- Tourism Industry – according to Department of Tourism in the Philippines, the country hosted 4.7 Million International tourists in 2013. For sure, hospitality businesses such as hotels and other accommodation business, restaurants, resorts, travel and tour agencies are having sales boost on the period. The Philippines has 7,107 islands, and each island has their own tourist spot to offer. Imagine, with proper positioning and market targeting any tourism related business will definitely meet success along the way. A friendly reminder, preserve nature from being destroyed.
Final Words
Studying the key points above before putting up a business, learning the trends and status of the Philippine economy, and the considering the top businesses that are currently performing well, as a foreigner and prospective investor he/ she has a head ups on which path to take and which industry to invest. Some management tips, study the Filipino culture, learn the language and be interactive. This will help you gather all the information to build a great and successful business.
For more information on how https://www.jinisyssoftware.com/ can help you with Business in The Philippines for Foreigners, please contact us at +63 (917) 947 7971, or visit us here:
Jinisys Software Inc
Our Luzon Office: 602 BSA Twin Towers, Bank Drive , Ortigas Mandaluyong City Philippines
Our Visayas Office: 3/F 101 M.L Quezon St. Villa Aurora, Kasambagan Cebu City Cebu / Region 7 6000, Philippines
