May 19, 2016 | Trinh Danh
The Philippines is an attractive location for anyone interested in doing business in Asia because of a number of things the most notable being the cheap and readily available labor. The Philippines has a huge work force, i.e. a population of over 102 million people. This makes the country great for labor-intensive business ventures. The Philippines is, in fact, one of the biggest hubs for multinational companies doing manufacturing among other labor intensive business ventures. Although the country is ranked 103 out of 189 economies regarding the ease of doing business by the World Bank Group, the country is undergoing major reforms aimed at attracting both small and large businesses. There are also reforms underway focused on easing the requirements for starting and operating both large and small businesses.
Home Office Versus Virtual Office in the Philippines
Operating a home office in the Philippines
Home offices are becoming popular options for foreign business people working in the Philippines because of the high internet penetration rate. The latest statistics indicate that the Philippines boasts of a 43.5% internet penetration rate, which is one of the highest in Asia. Almost half the population has access to the internet. Home offices are therefore ideal for both local and foreign business persons who find them ideal.
A home office is perfect for a business person who conducts all their business online. If there's absolutely no need for you to hold face-to-face meetings with clients, staff, etc. in your line of business, a home office will be perfect for you. Unfortunately, the majority of the business opportunities in the Philippines lie in the manufacturing sector which is a traditional sector. Foreign business people find the Philippines very attractive because of the cheap and readily available labor first before anything else.
Operating a home office in the Philippines isn't, therefore, ideal, especially if you are a foreigner keen on taking advantage of the Philippines large and cheap labor force. Where face-to-face contact is inevitable with clients, you'll need a traditional office or most importantly, a virtual office.
Virtual office in the Philippines
A professional image is inevitable when you are planning on doing business in the Philippines, and one of the best ways of establishing a professional image is setting up an office.
The cost of setting up a typical office is, however, high, especially when you want to attract serious clientele. You'll need a great address in a prestigious and readily accessible building. You'll also need world-class staff like receptionists, personal assistants/secretaries and the latest office equipment and furniture to create the ultimate professional image. This will obviously cost a lot of money not to mention the time and effort required to get such an office up and to run.
This is where virtual offices come in. Virtual offices give you access to the office infrastructure/resources of a multinational at a fraction of the cost. You get access to dedicated office staff, a great business address, local business phone number, all the office equipment/resources you need, including boardrooms, conference facilities, high-speed internet, office electronics, name it! Everything you require to create the perfect image of success needed by every start-up and established business. Virtual offices make it extremely easy to start operations and succeed by helping a business focus on their core business. They also remove the unnecessary cost of running typical offices, i.e. having to pay for resources you rarely use. Top virtual office services also come with access to multiple offices globally.
If you are going to do traditional business in the Philippines, a virtual office will be more suitable for you than a traditional or home office. Furthermore, you stand to create the perfect image when you have a virtual office. The image is a huge part of business anywhere, not only in the Philippines. People are more willing to do business with you if you seem established. A virtual office gives you the perfect image minus the expensive cost, time, and effort required to run an office.
Servcorp is your ultimate virtual office partner in the Philippines. Our virtual offices lower the entire cost of setting up business offices while still offering exceptional amenities. Servcorp's virtual offices come with; a local business phone number, dedicated multi-lingual receptionist, access to our global virtual offices and resources, call, mail and courier management, video conferencing/online meeting hosting and so much more. Call +63 2 368 5700 to get a free tour. We offer free virtual office services for the first month.