Starting a business in the Philippines. Information required!

[fred]

You don't necessarily need loads of money to get going here. 120,000 pesos was what we started with. Locals dont have a bigger advantage than you once you learn how things are done here. If anything i would say foreigners have the advantage once they are fluent in the language. Can see your point as have watched many a foreigner come here and fail but most of the time it was there fault. Sometimes they think they no better than the locals. Big mistake!

Hey Jake..Im a bit curious! What business did you start? Obviously you dont have to answer that if you would rather not as that is personal stuff. Anyway..I give you enormous credit to start and succeed with only 120k.
I think the reason a lot of people fail here is due to the fact that even though they have never run a business in their home countries they truly believe that becoming a businessman here will be sooo easy due to the fact that they have a few grand to invest whilst local need to borrow capital from 5/6 lenders etc.
Another big reason why they fail is because they trust their in laws to help them run it!!

[jake]

Hi,
I don't have a problem answering that as i would like to share my experiences here.
We manufacture and sell footwear in Liliw Laguna. There are roughly 50 shops in the town that have the same business. To most people that may seem like a lot of competition but if anything it makes you strive to provide a better quality product at competitive prices. We make a good living and its more than i would working in the UK.
Have watched over the years quite a few brits/europeans/americans come here and they have set up businesses which have failed. There are various reasons why but id say there main reason for failure was the fact they didn't spend there time actually running it!
None of my wife's family are directly involved with our business apart from the weekends when her nieces work as salesladies.

Hey Jake..Im a bit curious! What business did you start? Obviously you dont have to answer that if you would rather not as that is personal stuff. Anyway..I give you enormous credit to start and succeed with only 120k.
I think the reason a lot of people fail here is due to the fact that even though they have never run a business in their home countries they truly believe that becoming a businessman here will be sooo easy due to the fact that they have a few grand to invest whilst local need to borrow capital from 5/6 lenders etc.
Another big reason why they fail is because they trust their in laws to help them run it!!

[fred]

Hi,
I don't have a problem answering that as i would like to share my experiences here.
We manufacture and sell footwear in Liliw Laguna. There are roughly 50 shops in the town that have the same business. To most people that may seem like a lot of competition but if anything it makes you strive to provide a better quality product at competitive prices. We make a good living and its more than i would working in the UK.
Have watched over the years quite a few brits/europeans/americans come here and they have set up businesses which have failed. There are various reasons why but id say there main reason for failure was the fact they didn't spend there time actually running it!
None of my wife's family are directly involved with our business apart from the weekends when her nieces work as salesladies.

OK.. Well fair play to you! Its not often we hear about success stories of this kind in the R.P where Brits are involved.. Keep it up. You may be the next shoemart!!