Starting a business in the Philippines. Information required!

[London_Manila]

yes you can make money but you need lots of money to get going don,t forget your going against the locals who have a big advantage in the way things are done here .good contacts are a must ,if you are spending big you will attract the attention of the local politicians who will want a slice of the action.

Maybe i just got fed up with having to bribe EVERYONE for anything

[London_Manila]

Eliza you are 100 % right... thats good advice for epidot... think twice epidot ( lol ).....

I doubt that he will think twice.....he is loved up at the moment and his gf is not like all the rest

If i had a peso for every time i have heard that one !

[bigmarco]

He might be thinking twice as he hasn't come back since he posted the thread. Mind you Mrs P #51 probably hasn't helped matters.

[junior02]

I will be pulling the plug on my internet shop in Makati when i get back there in November

It has taken a nosedive recently and i am not prepared to keep on funding the place

They want to double my rent so thats the end of that...

I have already found a buyer for the pc's and the other partners want out as well

My best advice would be to say dont outlay too much money on anything in the philippines

The money is best left in the bank and just live the good life in a RENTED apartment
No hassle and you dont need a fast exit plan

As for laying out 500,000 pesos on a beauty parlor thats just crazy

Very good advice But a lot of people go to RP and leave ther brains at the airport..

[jake]

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!

yes you can make money but you need lots of money to get going don,t forget your going against the locals who have a big advantage in the way things are done here .good contacts are a must ,if you are spending big you will attract the attention of the local politicians who will want a slice of the action.

[Arthur Little]

Hi,

Please can anyone advise ... I would be looking to spend about 500,000php to build in Bulacan.

Having browsed through the many views put forward on this thread since you first posted ... MY advice - for what it's worth - is inclined to be: EPIDON'T! No offence intended.

[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!!

[tiger31]

your right fred interest rates are around 18 percent here ,very hard for locals to make money thats why they keep borrowing and getting deeper and deeper thinking things will get better .also if a local see you making money they will open up the same thing right next to you.when i opened our sari sari store there was nobody within 100 yards either side of me .but 2 months later someone opened one right opposite me .it happens all the time so now the store is making peanuts .I did,nt open it to make lots of money as i know full well what to expect its more of a hobby for g f to keep her busy .I would never invest serious money here ,too many pitfalls to many backhanders to deal with.

[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!!

[tiger31]

mmm 71 posts and no reply from the o p epidot where are you ?