Ready for Entrepreneurship: Identifying the Top Cities to Start a Business in the Philippines
There are a lot of factors riding in a business’s success. From the products/services you provide up to the location of your physical store, you always have to pick out the best ones to ensure profitability. Speaking of business success, are you someone who wants to take a risk and start your own? If you do, this article will help you determine the best cities to start a business in the Philippines.
At the start, it can be exciting to conceptualize your store’s layout, your product or service offerings, promotional gigs, and other business aspects. However, if your location isn’t favorable for the industry you’re trying to penetrate, your physical store won’t see any financial returns.
Despite the inflation rates, the economic situation of the Philippines sees improvements through reformed laws and regulations. If you want to take advantage of such an opportunity, here are top cities to start a business and why it’s favorable for you.
Enumerated below are the cities where you can establish business operations and its distinctions.
1. Davao City
Referred to as the “crown jewel of Mindanao,” Davao city ranked 87th on the world’s fastest-growing urban areas and towns. Davao is a proud exporter of fruits as it also dubbed the “fruit basket capital of the Philippines.” If you’re an industry that thrives in the production of fruits to other products or food items, this is an ideal place for its variety and inexpensive raw materials.
It is also a great thing to note that registration only takes 27 working days with about 17 procedures to accomplish. Such ease of transactions makes it easier for investors and entrepreneurs to establish operations in this city.
2. Taguig City
If you want to market your goods in a certified business district of the Philippines, there’s no other place to do it than Taguig city. This place is at the forefront of businesses and establishments that it continues to progress and its neighboring towns to develop.
For you to complete registration, you can wait up to 28 days before opening. But be ready to face a tremendous amount of competitors in this city.
3. Cebu City
Tagged, as the secondary Metro Manila, Cebu city as the Queen of the South, is a booming place for businesses. Moreover, it mixes in both rural wonders and urban advancements. Cebu city flourishes in its myriad of tourism attractions, sizable workforce, and business centers.
To register your business in this dynamic city, you must fulfill 15 procedures within 31 days before operating.
4. Batangas City
If you want to take part in the bountiful fishing industry of the Philippines, Batangas city is called the “industrial port city of CALABARZON.” Its growth rate is becoming a feasible sign of expanding economic operations. The city’s regulations support entrepreneurs and investors with their transactions for a seamless opening.
You must complete 19 transactions within 34 days to grab the opportunities presented in this city of both agricultural and urban promise.
5. Iloilo City
When Metro Manila seems too crowded for your discretion, why not try your hands in the “city of love?” Iloilo city is known to have the busiest airports as it is becoming a center for trade, leisure, and start-ups. You can start operating after completing 20 procedures within 56 days.
3E Accounting Can Help You Start Your Business in the Philippines
Setting up a business in a foreign country, even on your own, can be a daunting task. Often, you need professionals to help you. 3E Accounting is a reliable Philippine business setup services provider that will aid you in accomplishing documentary requirements. Our team can also identify the best cities to start a business and which ones will suit your services/products. Contact us for more information.