There is a school of thought that a business must always be expanding. According to this logic, a business that does not expand begins to stagnate and will soon be surpassed by something newer and more innovating. Whether you subscribe to that theory or not, expanding your business is worthwhile when you have the resources. If you have the client base and the capital to make the move, you should act with the best information you have available. The first thing to ask yourself is location. You have to choose a quality location to move or expand your business.
The Philippines
The Philippines is a prime location for a business. The country has a surprisingly low cost of living and cost of doing business. Unlike other nations of similar economic status, the Philippines have very low taxes. Property taxes, income taxes, and pass-through rates are very manageable for business of all sizes. Also, the cost of living is quite low in the Philippines.
The Philippines began to grow into its status as a hub of economic opportunity in the 1980s and the 1990s. The country underwent many upheavals in the 20th century, but as Southeast Asia as a whole began to stabilize, so too did the Philippines. That led to many foreign investors spending their money in the Philippines, which greatly increased the economic opportunity of Filipinos and immigrants. Over the ensuing decades, the Philippines grew a thriving private sector that is ripe for further investment. Moving your business to the Philippines or expanding into the country are both great choices. Your biggest hurdle will be finding serviced offices in the Philippines.
Pick a Serviced Office
The Philippines is very conducive to a business environment; however, setting up a business in a country where you do not live is always difficult. Whether you plan to move there or not, you will need to set up a physical location for your business. If you don’t have a trusted partner on the ground in the country, you will need to expedite the process as much as possible.
Normally, when you move into a new office building, you will set up your utilities yourself by getting in contact with the municipal water and electricity and the internet service providers. If you’re moving to somewhere foreign, a serviced office is a better option. These are offices that are already furnished and wired for doing business with the utilities included in the price. Furthermore, the office would be serviced by a crew that would make sure everything runs smoothly and your needs are met. It’s the hassle-free way to set up an office.
You want the expansion into the Philippines to go as smoothly as possible, but that’s not going to happen if you are spending weeks trying to track down utility companies and internet service providers while navigating a language barrier. Pick an office that’s serviced so you can hit the ground running.