So I’ve been thinking for a while about investing in the Philippines into a small business in either McKinley or Manila Bay Area. I’m aware of the laws and hurdles of starting a business there. Now I have a few options restaurant, pub, call Center or a small entertainment area. Now for the people who’ve been there and lived there what would you say is missing in these types off places or not run well as a business and would like to see there.
That’s a good idea, when I lived in fairview there was one in fairview terrace mall and it all ways busy.
Have you run a business before ... especially of the type you're considering investing money in ? Will you need a work permit ?
I’ve worked in the Philippines under Telstra as a training manager. Most my experience has been in management and marketing. Regarding the visa, either two visas to go at and they are investment visa or work permit.
I would suggest sticking with what you know then. (Ex-sales training manager myself actually.... and have run call centres (UK).
It’s all just thought at the moment, I’ve all ways wanted to go into food industry, in which if I was to I would research and plan and research more haha.
My tip.... after 28 years experience of the Phils ... think very long and hard ... and don't burn any bridges.... and don't try beating the locals at their own game.
Very true and I agree 100% we are only young st the moment and we are doing the spouse visa to the uk at the moment. We are more looking into future plans. I hold the Philippines as my second home and want to one day invest and give back.
Invest only what you can afford to loose. If you are planning to get in business, male sure its something you know about and make sure you are physically there to manage it. I understand its tempting time to invest in ph - gdp at near 7% for nearly 2 years now (and projected to continue for the next 5yrs) as well as planning for it inadvance. I can think of few stuff: Are you involved in stock market? Opening an stock trading account is as low as £75 and start buying ph blue chip. Or You can invest in uitfs and mutual funds sold by banks and investment firms in ph. Or open an isa acct here in the uk and save here. You ISA allowance is at £20k so you build up the money until such time as you retire in ph.
In our area,I know quite a few foreign owned restaurants that are doing very well mostly serving other foreigners that reside here as well as tourists.. The demographics will suddenly change here though with the massive Chinese take over that is already coming.. My advice? Forget Fish,n Chips and learn how to cook authentic Chinese noodles in the right location.. Oh yeah and learn Mandarin!
I’ll be brutally honest stocks I rather not go into I don’t know what I’m looking at in the graphs and such. It’s a great idea if you know what your doing tho. Ye the gdp is bloody good atm. Other idea we had was a fish farm since my wife owns a large plot of land in pampanga, but I would need to invest a large sum due to where it’s located cause it’s flood prone and I would also need to be very hands on with that one. Like you guys have said stick to what I know which is food and beer
What area might this be? I don’t want to target just foreigners. That’s a concept that kills a business. From experience and research I actually know that typical British food or as an example fish and chips sell very well into the Philippines. You are right a lot more areas are dominated by the Chinese but that’s with any place in the world you will all ways have spots like that. I also don’t want to do something that’s allready been overly done, I would never be able to compete.
We have been successfully in business here in Bohol and Cavite since 2007.. Good luck with your venture!
What business if I may ask? Reading back on what I said I came across a bit agressive which wasn’t my intention.
No worries..I do not speak here about what I do for a living here on the open forum, but if you are interested,then please do not hesitate to contact me via PM. Cheers!!