Starting a Business in Philippines – 10 Big Opportunities for 2018
What is the best business to do in the Philippines in 2018? What are the best business opportunities in Philippines? Are you interested in starting a business in the Philippines but you have no idea what business to start? Then I advice you read on.
Some people have asked, what is the best business to do in the Philippines? Well, the short answer is straight and simple, anything can become the best business to start in the country. It all depends on the market you are trying to reach and certain factors that may affect the performance of your intended business venture.
Now why should an investor invest in the Philippines? What potentials are there in Philippines to attract investors?
As an entrepreneur and investor, it is very important you understand the economic condition of the environment you are going to do business in. When it comes to doing business in the Philippines, there are important facts you need to know. So without wasting your time, below are some reasons why you should start a business in Philippines.
6 Reasons Why You Should Start a Business in Philippines
1. The government of the Philippines seeks foreign investment to promote their economic development, and has worked to establish investment landscape has such as free trade zones, through the Philippine Economic Zone Authority (PEAZ).
2. The Philippines is the shopping paradise of South East Asia as it houses some of the world’s largest shopping malls.
3. Philippines is strategically located in the heart of Asia, one of the fastest growing regions. Over 500 million people market and gateway of international shipping and air planes suited for Europeans and American business.
4. The workforce in Philippines is one of the most compelling advantages the Philippines have over any other Asia country with high educational priority. They are the world’s third largest English speaking country.
5. Philippines is blessed with diverse natural resources, from land to marine to mineral resources. They also have the biggest in copper production in Southeast Asia and among the top ten producers of gold in the world.
6. The cost of doing business in the Philippines is low, as wages are typically lower than fifth of that of the United States. The electricity, local communication, and housing cost are 50% lower compared to the US rates. That is why foreign companies are now outsourcing, programming and business processes to the Philippines.
I believe that with these points, you have now understood the potentials of setting up a business in the Philippines. Now let’s go into the details of the best business opportunities in the Philippines.
Source: Profitable Venture