The World Bank’s projection of a 6.9 percent expansion in the Philippines’ economy come 2018, has led to an increase in the number of SMEs entering the country to claim their share of the recent economic expansion being experienced in this beautiful island nation.
Manila is home to a reliable, multi-faceted and fast-growing economy and has been a haven for businesses from all over Asia for many years. However, it has also been guilty of inhibiting the growth and expansion of SMEs who don’t have the capacity for large investment. Luckily, this can be avoided by opting for virtual offices or serviced offices in Manila, helping them to maintain their position and add value to these businesses in the process.
Continue reading to find out just how virtual and serviced offices can add value to your business.
Ease of Setting up Your Business
The challenges faced by SMEs when starting out in Manila are abundant. The burden of finding a suitable location, dealing with construction permits, registering property, organising electricity and other setup headaches can delay starting up. The thought of going through the processes might even prevent some businesses from getting off the ground at all.
Making use of virtual and serviced offices means you only need to take the initial step of registering with the provider. This offers some relief for business owners when it comes to dealing with bureaucratic processes, which need to be carried out when setting up in a new location. Ultimately, this eases the start up process and is a useful way for business owners to really hit the ground running.
Increased Flexibility and Short-Term Deals
The inflexible deals landlords and operators often propose in Manila don’t usually favour SMEs when opting for traditional office spaces. These operators are also looking to get the best out of the Philippines’ emerging economy and so they mostly offer long-term lease agreements, of 3 – 5 years, which suits them but may not fit with your business plan.
Long-term lock-in contracts can have a long-lasting, detrimental effect on businesses, which they may never fully recover from. With this in mind, it’s important to consider the flexibility virtual and serviced offices bring to the table. Contracts often roll over until the tenant decides to leave the facility. This is a huge advantage, particularly for SME’s as it puts you in the driving seat and allows you an increased level of flexibility which you won’t get with a traditional office setup.
Increased flexibility helps to create an ideal market scenario where businesses can enter and exit freely as they please. This allows you to expand or downsize your business depending on how you are performing in Manila.
Professionalism and Cost Effectiveness
Employing the services of dedicated receptionists, IT support, sophisticated meeting rooms you can use as needed, as well as a prestigious address in Manila, all, ensure your business has a professional feel and gives a positive image of your operation to prospective clients.
As most business owners understand, the financial state of your business is critical for SME’s. Virtual and serviced offices will make a big difference to your outgoings, compared to the costs associated with leasing and setting up a traditional office space.
Choose Virtual and Serviced Offices in Manila
With the economy in the Philippines growing, it’s no wonder that more and more SME’s are looking to get in on the action. Setting up your business in Manila through the use of virtual and serviced offices makes it easier than ever before to establish a foothold in this thriving city and bypass many of the bureaucratic and setup headaches that SME’s face when starting off in a new city.
With no long-term contracts to worry about you can grow your business with ease and put your energies into what really matters, focusing on expanding your business into the exciting Manila marketplace.