February 26, 2015 | Sharon Cheong
In recent years, the Philippines have enjoyed increased political stability and economic reforms. This country was able to avoid contraction during the 2008 global economic meltdown that affected so many world governments. Today the economy is stronger than ever with industrial production becoming a more significant part of the economy. Certain areas are, in fact, growing rapidly, such as shipbuilding, apparel manufacturing and electronics.
Many individuals in the Philippines have moved away from traditional employment to start their own small business and some have been an enormous success. Of the successes, both locally and internationally, franchise opportunities exist that can be very lucrative. The experts always advise working in a sector where you have some experience. Good market research is also essential for the success of your small franchise business in the Philippines. Choosing the right business and location is a major factor in the success or failure.
Financial Advisors & Aviation
One of the franchise businesses most in demand in the Philippines involves the area of financial advisors. Every large and small business will occasionally need help with their investment portfolio. Biotechnology is another growing field. Large research firms transfer their operations to countries like the Philippines because of the cheap labor each year. The aerospace and aviation industries have grown to accommodate the world's need for fast, cheap travel options.
The Philippines often draw non-profit organizations who are interested in building a strong base of operations so they can reach out to the areas of that part of the world with aid to the needy. This rewarding profession offers more than just monetary rewards. Non-profits need many employees and offices to get the job done each day. Getting involved in the kind of work is also wholesome for the entire community.
Many various types of electronics are built in the Philippines and exported all over the world. From flat-screen TV's to stereo systems, you can start out with a small electronics firm that might grow into a huge corporation within a few years. The Philippines' economy can support electronics, engineering and electrical companies.
Whether you start out small by purchasing and developing a small tract of land or start out big, investing in real estate can be very profitable. It requires many varied skills such as understanding which neighborhoods are up and coming and what property will increase in value the fastest. Real estate investors have many directions their business can take depending upon your vision for the future of your company and your budget.
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