philippines ofw
Posted in Philippines General Information on 05/19/2009 04:28 pm by admin
Any advice on starting a business in the Philippines?
I wanted to get some information on starting a business in the Philippines. Some relatives of mine keep telling me to start up a "Job Recruiter" business. However, I notice a lot of OFW will return to the Philippines and there may not be as many jobs overseas as in the past. Also, I wanted to know what would need to know to start business type. I want to know people abroad to do business? Also, are there any pitfalls to this kind of business?
Jobs in recruitment businesses can be either for local or overseas placement. I thought you were referring to overseas recruitment agencies. Paid up capital was 2 million pesos, minimum. A pamphlet from the Department of Trade and Industry which will guide you through how to set up this business. Http: / / www.dti.gov.ph / dti / uploads / files / Brr-Manpower% 20Agency.pdf The number of return is relatively small compared to the work needed in other countries. If you can find a way to maintain the order of work from overseas employers and provide their personnel requirements, then your business will boom. As for pitfalls, illegal recruitment is a no-no in the country when one gets convicted for the crimes, the sentence is life imprisonment. As for advice, I have the following if which was chosen as best answer in the past: 1. ask yourself first if the business you want to put up is something that you can tend to on a daily basis, including weekends. take the test from forbes.com for small business or entrepreneur first. 2. have a business plan. This is especially important if you are getting the partner you in business. 3. establish your funds by coming up with figures to start the capital and the value for your operating costs that should last a certain period (eg, 3, 6 months, just in case there are good sales) 4. accept that there are times you incur loss or only break even. Cheers!
