Why Starting a Business in the

Philippines is Idea

The Philippines is among the fastest-growing economies in the world. Its constant development is the driving

force behind the decision of many foreign investors to set up and fund businesses in different parts of the

country, especially in the greater metropolitan area of the capital city, Manila. They see its potential for

growth, so they continue to invest in the country, pushing its rise in the regional and global market.

Here are some reasons why starting a business in the Philippines is ideal:

High English Proficiency

The Philippines is the world’s sixth largest English-speaking nation. From government policies to business

transactions, almost everything is in English. In fact, according to the Business English Index (BEI), the

Philippines ranked as the world’s best country in business English in 2012 with a score of above 7.0. This is

the reason why the archipelago is a top favorite for call centers and other business process outsourcing jobs.

According to Tholons Top 100 Outsourcing Destinations, Manila is now the second biggest outsourcing hub

in the world. It outranked Mumbai, India which placed second in the previous year. Cebu City, on the other

hand, remained in eighth place.

Low Cost of Living

Studies show that rental office spaces, building constructions, and housing projects are up to 40% more

affordable compared to those in other countries. Employee salaries and benefits have lower rates, making it

ideal for businesses because they can hire more people and improve productivity. Daily living expenses, such

as communication, electricity, food, and transportation, are also considerably more budget-friendly.

Market Opportunities

The Philippines is a consumer-driven nation. Many opportunities

are available because of its highly capable population and

strategic location. It’s seen as the gateway to other developed

nations in Asia. In addition, the government continues to up

incentives for foreign business ventures. These include tax

deductions and exemptions, special economic zones, and non-

fiscal incentives.

These are only some of the reasons why it’s ideal to start a

business in the Philippines. Like any other start-up, it’s important

to consult experts regarding registration and other procedures.

Sources:

http://www.forbes.com/sites/kenrapoza/2012/04/05/countries-with-the-best-business-english/

http://www.rappler.com/business/48703-manila-now-2nd-in-top-outsourcing-hubs-tholons http://www.tripleiconsulting.com/business-registration-philippines/