Over recent years, the Philippines has been called “Asia’s Rising Tiger.” In 2018, Business Insider magazine confirmed the Philippines as one of the best countries in which to invest. Political and social transformations have happened that have impacted society in the Philippines in a positive way. Depending on what your situation is, coming to the Philippines to begin a new life could be a positive, rewarding experience for many reasons. The Philippines has a dynamic growing economy which, in turn, creates the need for more business services.
It’s an excellent place to start one’s life over, or simply expand what you had been previously working at. There are many opportunities for small business here, inexpensive to set up, and, depending on the business, a skilled and willing workforce is available. These are some of the factors that make the Philippines attractive for those wanting a new beginning. Additionally, Dumaguete is ideal because of its location in the Visayas, and being a vibrant, multi university city.
What’s interesting is that many foreigners came here not intending to start any business, but, after seeing many opportunities where they believed they could prosper because of their previous work experience, many decided to open a business, and have had mostly good experiences.
What’s important is to do substantial due diligence about the business, and also make sure you are complying with all federal laws, and also local regulations. That’s why it’s important to connect with a company who can protect you from unnecessary expenses, both financially and emotionally, because mistakes can, and do, unintentionally happen when first doing business in a new country.
In the Dumaguete area, many foreigners have begun businesses such as providing software and IT services. They are significant businesses, as is consulting with foreigners coming to live and work in Dumaguete.
Some expats have built successful construction companies that cater primarily, but not exclusively, to the expat community. Others have opened restaurants, night clubs, and dance spots for nightly entertainment. There are a vast number of resorts especially in the Dauin area, almost all that are operated by expats.
Real estate companies operated by ex-pats are attractive sources for those considering coming to buy a home or own an investment property. It’s comforting for foreigners to connect with other foreigners about such important matters.
The list of options is extensive. What if you had dreamed about owning and running a Bed & Breakfast place but, because the costs were prohibitive, you were unable to do it in your country? Why not come to Dumaguete and fulfil your dream for a fraction of what it would have cost you back home?
Many business minded people have put property on the market to rent, and because the cost of construction is low, are also building more units to cater to the AIRBNB market, or to other visiting foreigners.
Online and home-based business opportunities are among the most lucrative. They include online blogging, retail selling, marketing online courses, photography, and affiliate marketing.
If you were an accountant, either working for a large firm or had your own practice, your skills would always be welcome in Dumaguete. You would, of course, need to familiarize yourself with Philippine accounting practices, but that’s doable. And you would need to connect with a local accountant and work with him or her.
Tourism is an important part of business and life in Dumaguete. There’s room for expansion in that area.
Operating a pawnshop may seems unusual to foreigners, but it’s one of the biggest and most profitable business in the Philippines.
Whatever your past experience has been, its possible to take those skills and apply them to creating a new life your yourself in a country that’s welcoming to foreigners, is politically and socially stable, inexpensive to live op create business opportunities, and is very enjoyable to live in.