STARTING A BUSINESS IN THE PHILIPPINES
Starting a business overseas can be a profitable investment if you know what you’re doing. This includes knowing your way around countless government hassles, finding the right people to make your business venture worthwhile, and having proper knowledge of the many customs that will undoubtedly seem strange to you until you ‘settle in.’
· Filipino employees are dedicated. They’re hard working. Maybe’s there’s something to the claim that many Asians tend to be more time on task oriented than many of their Western counterparts. (Search: Business in the Philippines.) · U.S. based businesses have the unique opportunity to select people from a large pool of dedicated and educated workers with Many have degrees and professional certificates well above and beyond what’s required for the job. Numerous Filipino and other Asians are well educated having graduated with advance degrees from some of the finest schools in Asia and Europe. · Starting a business in the Archipelago is cost effective in terms of U.S. dollars spent on start-up fees, supply order requisitions, government certificates, licenses, and other expenses commonly associated with developing and maintaining businesses. $1,000.00 will go a lot further in the RP than P1,000.00 in expenses despite the shrinking dollar and the U.S. economies continued downward spiral. (Search: Doing Business in the Philippines-U.S. Commercial Service Philippines) · Having a business in the PHL affords U.S. managers with more than ample chances of getting their commercial feet through the doors of other Asian markets with Manila acting as home base of operations. · Though Tagalog (Filipino) is the official language in the Philippine Republic, English fits neatly alongside its native linguistic partner. English is the language of commerce in most parts of the world the Philippines being no exception. (See: www.philippines-business.com.) · After 44 years of American occupation (1902-1946), Filipinos and Americans share many cultural values paramount among them the Christian religion. Watch the TFC Filipino channel and you’ll see what I mean. · Due to the aforementioned shrinking peso and increasing material poverty the RP will long be a source for ‘cheap labor.’ (Search: Poverty in the Philippines.)
Opening a business, and I mean ANY business, in the PHL can be a frustrating experience. Bureaucratic red tape can sap your will even before your business is operational. Getting a license to sell anything in the Philippines requires a LOT of patience. Here’s an example of what I’m talking about; four years ago when my wife and I were there last. We walked into a Hello Kitty kids store intent on buying a little something for our two grand daughters. She shopped I sat. During my sit down I counted the business permits and licenses that lined the wall of that tiny closet of a store-24 IN ALL!
Again patience is the key to getting anything done in the Philippines. This message goes out to non-Filipinos like me who fell in love with the place and seriously contemplated relocating there; my recommendations:
· Go sloooow and consider the needs of the Philippine people as well as your own business dream. Just ’cause you like an idea doesn’t mean it’s a good one, no? · Learn the people, the culture, and the country. (Search: Philippine Culture.) · Learn Tagalog! Reader go to: www.languageschoolsguide.com/philippines This is just one school but there are others. · Do your ‘homework;’ conduct business research. Study your market. Go to: www.entrepreneur.com. · (Search: Business-Live in the Philippines) and you’ll discover some of the many pitfalls international entrepreneurs should be made aware of. · Sign up with S.B.A. (U.S. Small Business Administration) for SCORE courses. (Go to: www.score.org or www.scorechicago.org.) · When dealing with Filipinos DON’T SHOUT! You do they will totally ignore you and will call the police within seconds. This has never happened to me personally but I know of cases with some expats in which it did happen. Be cool it goes a long way. · PRAY-ON-IT! I mean it! Nothing’s wrong with a little Divine Guidance now is there? · Make your move! Procrastination will kill any dream.
What kind of business do you want to start when you relocate to the Philippines? Only YOU and answer that one but here’s some help. As I was researching material for this article, I came across a site that you may find useful but here’s a WARNING! Why the terse alarm; because not having purchased any of what they’re selling, I can’t personally vouch for the reliability of this particular website. You know the old sage if it sounds too good to be true…well you fill in the blanks. Anyway (www.buysell.ph) take the old ‘kitchen sink’ approach: IT’S CHUCK FULL OF EVERYTHING for anybody seriously considering making the big move across the blue Pacific will ever need:
· A listing of jobs available in your chosen profession · Extensive franchise information · A listing of home based employment opportunities · Methods of securing bank loans · Information on network marketing · Small business start-up kits by EBay · And a whole lot more useful information beside
But just to play it safe, that particular page has an assortment of other overseas business related ideas that you could use so shop around.
Everyone knows the RP is one…poor…place; been that way for centuries as I understand even before the first Chinese traders arrived generations BEFORE the Iberians settled it.
If you want to set up shop in the Philippines you have GOT to take into SERIOUS consideration the politics and economics of the country or you WILL fail miserably. In all third world countries the people are dirt poor, the politics ‘impossible,’ the religions often train adherents to be subservient to state and ruling oligarchs, national morale is low, and if you step on the wrong toes you will find yourself an unenviable guest of the state holed up in some rat infested fetid metro Manila prison so foul as to make some of the martyred Philippine revolutionaries blush if they had the mind to.
Even before you hang up your shingle announcing your professional presence you may become terminally frustrated and just give up and take a fast plane back to the good old U.S. or A. Before you make your grand entrance make sure you’re up for the task. In business as is larger life: ONLY THE STRONG SURVIVE AND THE SMART THRIVE. Work out the kinks BEFORE departure day. I’m tellin’ you this just so youse’ know; and ‘don’t be no fool’ as my Momma + God rest her soul + used to tell us.
Www.doingbusiness.org/…./Philippines/start…is my site of choice. This web-site has EVERY-THING you need to know about the necessary required documents, offices to call, people you should know, letters of request, business application forms, information on procurement of driver’s licenses, locating heath services, investment information, foreign exchange regulations, the WHOLE ‘NINE YARDS!’ I gleaned this valuable site from the International Executive Services Philippines Social Security County Profile-TAX. Though their article pertains to foreign nationals on assignment from companies based in their home countries, the site has a myriad of helpful business, tax, and political information you’ll undoubtedly need so go for it! God bless and happy hunting.