Business expansion is always a milestone in every company. This allows Business Owners to innovate their offerings, cater to a bigger audience, and enhance the customer experience. Business expansion means growth in all aspects and who doesn’t want that?
The challenging part however, is doing business expansion right—with location and cost-efficiency being on top of the crucial list of factors. For business owners, some of the best ways to expand a business is by offshoring and business process outsourcing. This means transferring certain parts of business operations in another location or hiring an offshore team for increase efficiency and savings.
At present, the Philippines remains as one of the best global destinations for offshoring and call center operations. It’s capital, Manila, is the perfect expansion location for companies of all sizes, in any sector. Below are some ways on how this vibrant city can help your business grow further.
Manila is the nation’s capital
As mention, the city of Manila is the capital of the Philippines, making it the central hub for business, trade and commerce, finance, education and leisure. The metropolis alone already has three major central business districts, namely Ortigas Center in Pasig City, Bonifacio Global City in Taguig City, and the Makati Central Business District in Makati City—all connected by major thoroughfares and train systems.
Manila is among world’s fastest growing economy
With an economy that has been consistently improving over the years, the Philippines is now one of the fastest growing economies in the world. According to a research conducted by the American firm IHS Global Insight, the Philippines is forecasted to have a steady increase of gross domestic product (GDP) in the coming years.
Furthermore, the robust long-term growth of the Philippines is also supported and sustained by the country’s strong remittances from Overseas Filipino Workers (OFWs) as well as the booming IT-BPO industry.
Manila businesses is supported by the Government
As more people establish their investments in a city, its value increases as well. To encourage this mutually beneficial model, the Philippine government has always expressed its full support to investors. Business owners who are looking to expand in the Philippines can enjoy incentives such as the Special Economic Zone for local and foreign enterprises, exemptions on local taxes, permits, and corporate income tax for four to eight years.
On top of this, the Philippines is also known as a very cost-efficient location for business operations, along with its talented pool of young professionals who are at par with the world’s best. With these several advantages, Manila stands in the forefront of choices among the best cities in the world for business expansion. It is a location best placed for growth and progress for business owners all over the world.
Interested to know how we can help grow your business in Manila? Contact us today!