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How To Start A Business In The Philippines
Published by: Marisa Wiman | 18 September, 2018
Are you planning to start a business in the Philippines but you don’t know how to get started?
Imagine yourself as a rock – an inanimate object full of potential energy. You can’t move without a kinetic chain – a force that will move you and will keep you moving.
When starting a small business in the Philippines, you have 2 possible options.
Option # 1 D-I-Y
If you want to start a business in Manila, then you need to fly over to Manila. Rent an office, manage the recruitment process, and hire over 50 professionals.
Option # 2 Delegate your tasks
Look for a reliable outsourcing company that does it all for you (no hassle, no headache).
Following the better option, here are the steps to starting a small business in the Philippines:
Create your business plan.
Deciding the type of small business you want to establish in the Philippines depends on your skill. If you are an expert in web design, you can choose that route. If you are more of a financial type, then there’s your idea for a small business. Play to your skills and look for a niche that you may delegate to an outsourcing company.
Look for the cheapest route to start.
In a recession, start-ups are looking for ways to streamline the cost of every part of their business. To start a business in the Philippines and keep it lean and meat and afloat, CEOs are better off to outsource rather than pay high salaries and benefits to employees.
Provide your product or service.
When it comes to outsourcing, many people think of large business outsourcing to other countries. It doesn’t matter if you are starting a small business. The only thing you need to do is to provide your product or service to a trustworthy outsourcing firm, let them handle everything (e.g. provide secure office, recruit talents and deliver services with the same work ethics). Trust them and watch your business grow.
Don’t wait until you need help.
Today is the perfect time to look for a trusted outsourcing company with the type and level of expertise that your new business needs. Look for one with competent talents, reasonable price and fast turnaround time.
Keep your back office in order.
When starting a small business in the Philippines, make sure that the workflow is in place to avoid major surges. Back office includes essential keys such as human resources, bookkeeping, accounting and administration. You don’t have to hire so many employees for these departments. You are better off delegating these tasks to an offshoring company and they will handle your back office efficiently.
Just because you want to start a small business does not mean you have to go through all the headaches. Outsourcing to a reputed outsourcing firm is the best way to start and establish a successful company that will make a difference in many people’s lives.
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