October 20, 2015 | Sharon Cheong
Manila has become a lucrative region for start-up activity and investors come every year, from normal individuals to large corporations. They're all looking to take advantage of the many opportunities now available in Manila. Some begin as startup businesses and others are big name brands that are simply looking for an offshore headquarters. The difference in these groups is the amount of money they have to begin their new venture. While a big company like Microsoft or IBM can afford to buy an entire building, small business owners have to watch every penny until they start making a profit. Cash flow is crucial during the first few years.
Keep Expenses Low and Predictable
One area where new startups can save money is through leasing office space. A recent report shows that the average small business in Manila spends about $1,000 US per month on rent and another $1,000 on utilities, phones and internet service. If you hire three new employees and train them, this will cost an additional $1,500 US dollars per month. Most new startups just can't afford that kind of cash expenditures per month simply for a few employees and a place to work. In addition, there are numerous other expenses that you don't even think about such as office supplies, paper, office furniture, computers, advertising and many more.
What if you could pay just one fixed price for your office space, utilities, internet service and even include a dedicated receptionist in the price? That's the formula to a successful startup. Keep costs and overhead low. Avoid unnecessary expenses. Try to stay away from anything stressful that takes your focus away from running your new business.
Leased Office Space is Flexible
Virtual or leased office space is being used by both large and small companies every year all over the world. It's the perfect solution if you are trying to keep costs at a manageable level. Plus the fee is the same each month, so you can figure it into your budget and not have to worry about exorbitant expenses. There's so much more freedom too, including your ability to choose exactly the size space you want. You can select the services that are most crucial in order for your company to grow and avoid unnecessary things like spikes in the electric or phone bill. When your business starts to mature, you can just add space and services as needed.
Home-based and startup businesses are increasing in Manila as people realize that they can get into the world of commerce. All it takes is a good idea, some talents, skills, hard work and a little bit of investment capital. Anyone these days can earn a good living outside the 9 to 5 routine if they're willing to take a risk. Some ideas become a huge overnight success, while others may flop. As long as you keep the amount you're investing at a level you're comfortable with, you can't really lose. At the very least, you'll gain good experience and have a grand adventure.
Get the Business Tools You Need to Grow
If your startup business is beginning to prosper, you may be ready now to expand and add a few people to the payroll. With virtual office space, it's easy to add offices, services or whatever you need. Having a professional answering service, mail forwarding, a dedicated receptionist, bi-lingual IT personnel and other business tools can make you look and feel larger than you really are. This is very important when you need to sign big clients or talk to investors.
Work With a Global Leader
Servcorp Serviced Offices work with startup business owners by giving them high quality amenities so you can grow more successful while staying within your budget. These luxury spaces are available in beautiful high rise buildings located around Makati City. This area is known as the financial and business center of the region. With Servcorp Serviced Offices, the options for new startups are practically unlimited. Get fully trained bi-lingual staff members, professional services and controllable monthly costs. Servcorp offers the very best facilities to new startups in Manila. Please call +63 2 755 6500 today to learn more.