08 Dec It’s easier than you think to start a business in the Philippines. Why?
Many of my European friends and colleagues think it is impossible to simply move from Europe to Asia and start a new business. From my own experience, I would actually say it’s easier.
One of the biggest reasons is the price. For example, in a highly structured and expensive country like Germany, it is not only expensive to start your business. But the price of failure can be crippling.
However, in a developing country like the Philippines, anyone can be an entrepreneur and start-up, fail and start-up again and again without bankrupting themselves.
Of course, like in any country, there are obstacles to overcome. But the biggest one – financial – is less of a concern than in highly structured and expensive first world countries. So whatever business ideas you have, the Philippines is a great place to bring them to life. And succeed beyond your wildest dreams.
Here are my Top 5 reasons why you can profit from starting a business in the Philippines.
Incredible Tropical Location
I started my company NEW VIEW Coaching in 2013. Initially, I thought people would be reluctant to travel the 3 hours from Manila to the Anilao coastal location where I live so I only offered my career coaching services online.
However, it soon became apparent that people living in the city enjoyed taking a weekend off to relax at the beach, calm down and then immerse in a coaching session. After that, my clients continued their sessions online via Skype or came back down for more face-to-face-coaching.
I was happily surprised when a lovely Scandinavian Lady from Dubai contacted me and asked for an intensive coaching session at the beautiful resort LILOM which I am associated with in Anilao. She would even fly all the way from the Emirates in order to combine her vacations with coaching.
It can often feel chaotic in the Philippines compared to super-efficient countries like Germany. But it is also much more relaxed and actually better for getting work done. You are a lot less stressed here and strict deadlines are simply “more elastic” for many people. I personally can still be professional and on time without loosing my patience if others are not.
Compared to a country like India for example, the Philippines are also very organized. It just depends on your point-of-view. My Australian, American, Austrian and German clients benefit from my culturally adopted flexibility and this makes them more relaxed too.
Opportunities To Fail
In Western culture failure is a dirty word. It’s all about success and winning. But as the esteemed educator Sir Ken Robinson once said:
“If you’re not prepared to be wrong, you’ll never come up with anything original.”
The cost of living is very affordable in the Philippines compared to America and Europe. This means you can start-up a company, make mistakes, go through hard times while you get on your feet and even remodel your business without going broke.
My water and food bills and the maintenance on my home overlooking the ocean are relatively low. This gives me the time and flexibility to devote to my clients and develop new ideas for things like my upcoming workshop at ALIG for “trailing partners“ wanting to start a business or project in the Philippines.
Designing cross-culture team development workshops for multinational companies takes a lot of brainpower and time too. I love what I’m doing and I am grateful for the time and energy I can put into my business, rather than just worrying about making a big profit right away.
There is a peaceful and friendly atmosphere here in Luzon (main island). In the provinces, people are very supportive and any kind of project or business that involves locals is welcomed.
The funky M.E.G. bags project my Philippine family and I started recently “Turning trash into cash in the Philippines“ is fantastic for 3 reasons:
village woman empowerment; air-pollution control and marine park protection. It is upcycling at it’s best.
A Network of Trust
Yes, corruption does exist here in the Philippines. However, from my personal perspective, all you need is just ONE person you can trust 100%. Ideally, this person will be connected through a network of local people, stories, family, business, favours and friendships with many other people who can then support your business.
I was extremely fortunate to become friends with a beautiful Philippine family 14 years ago who have lived in the area for many generations. Therefore, from the beginning I was under the invisible protection of their network.
You need to be able to trust the right people so they can trust you. Once trust is established many things go smoother and with a lot of fun and laughter. Therefore leading to much more success in both your personal and business life. Believe me, you can live a fantastic life in the Philippines and also succeed in business – even during typhoon season.