Very few expats make money in businesses in Cebu, especially if they go in half hearted or try to do the same old bar/restaurant/sari sari store/jeepney/taxi etc which either breaks even or makes a loss.
Successful businesses I've seen in the development zones are those running internet or back office services/products to people in the west, taking advantage of the low overheads and staff.
Renting property can be lucrative, if your street wise.
