February 6, 2015 | Sharon Cheong
Economists are saying that, considering the global business growth rate, the Philippines are still growing above the averages at about 6%. The interest rate is hovering around 3.5% to 4.3% and this makes it a good time to purchase property, get a business loan or invest in the island nation. The Port of Manila is a major international shipping gateway with abundant opportunities for import/export business owners.
The Philippines have embarked on a quest for better energy resources and natural gas was discovered on Palawan. In addition, scientists are interested in developing both geothermal and solar energy. Energy programs often attract investors and open the door for new companies of all kinds. In many cases, the companies who come in at the beginning of big projects that might take years to complete, can reap the best profits.
It would take some research but delivering clean energy to the residents might include every business type from construction to pipe line workers. Construction companies are often required to build the main facility and other structures that will hold equipment and the people who run it. The construction business has shown a strong presence throughout the Philippines, as many business owners attempt to remodel older structures and bring their business into the 21st century.
With a constant flow of tourists from all over the globe, the Philippines have many businesses that cater to tourists, but there is always room for another. Businesses that offer recreational activities to the locals and tourists have traditionally been shown to do well. People take vacations each year, even when times are hard and the economy is poor. A fishing boat charter, tour guide, or upscale resort or spa might be more prosperous in heavily populated areas like Luzon, Quezon City and Manila.
Geothermal pipe lines will be needed to transport the boiling water from its home beneath the earth's surface to power plants responsible for containing and distributing it. As this technology develops, dozens of different types of businesses will be needed. New projects increase the economy of any area because they put people to work and working people need food, clothing and transportation.
An influx of investors will often stimulate the economy in many ways that the average person wouldn't think of. For instance, most small businesses use the services of professional bookkeepers and accountants to do their tax payments, payroll, invoicing and other bookkeeping tasks. Architects are also required to create blueprints of the structures for a construction company. As workers move into an area for a new job such as working for the geothermal energy plant, they will need housing for their family.
All of these are great business ideas that can be taken to any degree, large or small, complex or simple. The most profitable small businesses in the Philippines cater to the needs of the people, offer good products and services at fair prices, along with excellent customer service. Consumers want to get a good deal and they enjoy great service, regardless of what country they're from.
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