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Business PhilippinesPursuing business in the Philippines is something you should research carefully before proceeding. The Philippines is an Asian country with a developing economy so the business environment and the way of thinking is completely different than in a first world Western country. The Philippine economy expanded 7.3% in 2007, its highest growth in 31 years. Inflation averaged 2.8%, well below the central bank's target of 4.0% to 5.0%.
An online business is one way to go in todays environment. I have spent hundreds of hours researching online small business opportunities. There are a lot of offers on the internet that claim to generate an income for you. Most of them are get rich quick scams that will give you nothing in the long term. And on the internet you should be thinking long term. I recommend partnering with a company that has a solid track record of success and can back that up with real results. See how you can Turn travel into a business. » These are real people, SBI! owners who have taken action and succeeded. FREE! The Book That Was Coined "The BIBLE Of Selling On The Net" Is Now FREE! SiteSell is now offering their hugely popular internet marketing book Make Your Site Sell» for free. Along with the free Make Your Content PREsell» you will acquire/improve the single most important skill that you need to thrive, online or off. The power of communication. This will be the most important download of your life. Do not miss this free offer!
If you are considering a small business in the Philippines be aware of the risks involved. The number one risk is not having a clear understanding of the culture and the style of doing business. The Philippines is a tricky place to try to succeed in a small business. A lot of knowledgeable, intelligent business people have lost money here. My recommendation is to start extremely small and build your business slowly. The best thing for a small or mid-sized business owner is a business savvy Philippine spouse that can be trusted. The biggest downside? Filipinos can be very jealous of your business and they might try to destroy your business. You become a target. Keep a low profile and keep your assets in the country to a minimum. Don't show off – no flashy cars, expensive houses, jewelry etc. There are dozens of scams currently being used, so be careful. Be extremely cautious who you do business with. Occasionally the result of a business dispute is an assassination attempt. When something goes wrong there really isn't much recourse. The police and the judicial system are extremely slow moving and don't provide much protection for the small business owner. I don't recommend having partners. Read about Tom's successful experience with a rice mill.»
When thinking about making a substantial investment for a medium to large sized business in the Philippines, I think that location is the most important issue. Try to locate your business in a protected business park if possible. These are sanctioned and protected by the national government. The government also provides tax incentives or tax breaks to businesses in these areas. These business parks are referred to as export processing zones, IT parks, and special economic zones. Some of the primary zones : Cebu Area - Manila – Luzon Area The Cebu Government Investment Promotions Center has a website of useful information for the investor interested in investing in Cebu.CebuInvest.Com» The Philippine government produces a list of preferred economic activities that are pre-approved for tax breaks. This list is referred to as the I.P.P., the Investment Priorities Plan. The 2 government agencies to coordinate with are the Bureau of Investments, B.O.I.», and the Philippine Economic Zone Authority, P.E.Z.A.» Philippine Economy to Ease in 2008, Global Economy, Inflation Undermine Growth Asian Development Bank Philippine Economic Forecast 2008-2009 » Top Regional Investment Trends Cebu 2008 »
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