The economy in the Philippines has a great forecast for the next couple of years. In an effort to attract business to the country, the government has an array of tax deductions, income tax holidays, special economic zones, and incentives that make doing business in the Philippines attractive to entrepreneurs. If looking to expand, the economic forecast promises to deliver a range of business opportunities for you to capitalize on going forward.
However, keep in mind when looking for a place for your new venture, that location is crucial to the success of your business. With the Philippines landmass being comprised of 7,000 islands of varying sizes and with various levels of infrastructure, it’s crucial you take some time to find a location in this beautiful region that will suit your business needs. Entrepreneurs can go the traditional route of leasing office space, but another great option for business owners is a virtual office solution.
Continue reading to learn more about the benefits of leasing a virtual office in the Philippines and how it can benefit your business.
Flexibility
Because of the various leasing options, renters have a range of amenities to choose from. Most virtual office agreements lease the building’s facilities and provide amenities, such as staffing, internet access, and conference and meeting rooms. In addition to these terms, renters get a professional business address, phone number and mail service. For example, Servcorp, located at has plans that allow the individual the use of offices globally. With an office headquartered in Manila, you could essentially operate a business internationally. Click here to find out more: www.servcorp.com.ph/en/virtual-offices.
The leases are flexible for a few reasons. If your business is in its initial stages, and a virtual office meets your needs and your business expands, a premium virtual office provider will allow you to modify the terms to meet your needs. Also, your lease can be transferable, so if you relocate as a part of your expansion, you don’t have to wait for the contract to end as is typical with other types of leases.
Lease Length
In addition to the leasing terms, the time that you’re required to remain in the lease is more flexible with a virtual office setup. Typical office leases require a year’s commitment, and to get a better rate, at least five years. Most virtual office plans, however, allow you to lease month-to-month.
Overheads
With a typical lease, most leasing companies require you to pay for the space, not including furniture, staff, utilities and the other amenities that are essential to running a business. Because virtual offices only lease the use of meeting rooms and private offices, staffing and internet technology, renters find that monthly rents are more affordable. Business owners who are self-employed and looking to expand, can save a large amount of their monthly earnings by only purchasing the services they need, as opposed to entering a traditional office lease and not using all of the amenities.
High-Quality Candidate Pool
The Philippines has one of the most highly-skilled, talented workforces in the world. A virtual office works well for entrepreneurs looking for professionals with a broad range of skills and talents by allowing them the flexibility of working from more than one location. That’s why companies request for the help of EOR companies, in order to make this process easier and cheaper.
If your company does expand, then the virtual office set up will allow you to pull candidates from a large area, as you can essentially arrange interviews and meet with people in different locations without having to worry about the cost associated with paying for a conference room in various locations around the Philippines, or the world.
Growth Opportunities
The Philippine’s population is one that is consumer-driven but at the same time focuses on building relationships. There are so many marketing and sales opportunities in the country and you can enjoy easy access to other Asian markets as well.
With a virtual office, you have the versatility to make business relationships across a broad spectrum of interests, and as your business expands, you have a professional address from which to operate.
Real Business in a Virtual World
The economic landscape of the Philippines can be attractive to savvy entrepreneurs with financial know-how. Those business owners looking to expand, but in a way that is not costly, should check out virtual offices as an option for their office solutions. With flexible leasing terms and versatile plans, any business owner can grow their wealth in this Southeast Asian paradise.
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