Startup Success – Why More Entrepreneurs Are Choosing Manila
Startups and entrepreneurs are increasingly being drawn to Manila due to the positive business environment, reputation as an innovation hub and its fast-growing economy. The Filipino capital is home to more than 500 startups, which are continuing to thrive and expand with the support of local government agencies and a huge number of investors, looking to pout Manila on the startup map.
With a population of 13.5 million people, there is a huge workforce to tap into here and the business infrastructure in the city is developing at a phenomenal rate. Those looking for flexible workspace in Manila will find a range of options to choose from. Coworking spaces have become incredibly popular over the last number of years while virtual offices have also been gaining popularity. For entrepreneurs that are new to the city, these flexible office solutions can be a great way alternative to more traditional office spaces and give you an opportunity to establish yourself in the city without the need to commit to a long-term expensive lease.
Continue reading to learn just a few reasons as to why more entrepreneurs are choosing Manila.
More Affordable Staffing
For startups who are operating on a budget, having more affordable staffing can help greatly in getting your business off the ground. In the Philippines, staff are much more affordable than in other countries which can help your business to grow much quicker as you can make investments in the critical areas of your operations immediately. As well as being affordable, many Filipinos are also highly educated, motivated and diligent, making them a great addition to just about any team in any industry. Building a team in the Philippines is a great first step in moving your business in the right direction.
Virtually No Language Barrier
For those that are new to the region, the language barrier can be a big hurdle for businesses to overcome. However, in Manila, this is simply not an issue, as the majority of the population speak excellent English. Not only is this beneficial for a new business, but it can also help you to settle into Manila with ease as a newcomer to the city.
Flexible Office Space Options
With the growing popularity of Manila for startups, office rents are on the rise too. However, the good news is that in order to solve this issue, coworking spaces are popping up all over the city. Premium providers offer spaces at some of the most prestigious location for business in the city, which can help to establish your company quickly in the region. Coworking spaces also offer the perfect opportunity for you to network with the local business community and build long-lasting business connections that can help your startup to find its feet.
A Growing Tech Hub
The Philippines boasts the fastest growing economy and growth in Asia’s startup scene. While internet speeds might not be the fastest in the world, advancements in the tech sector have given rise to many startups getting their feet wet here and they come from a range of different industries and backgrounds. The tech scene, in particular, has gained international credibility as Revolution Precrafted rained an undisclosed amount of more than $1 billion in its Series B round of funding. This real estate based startup has paved the way for more investment in the tech startup scene in Manila.
Choose Manila For Your Startup
When it comes to Asian startup hubs, Manila is a great choice for any business. With a highly motivated and well-educated workforce to add to your team, a burgeoning tech scene and a positive startup scene, the Filipino capital is becoming a popular choice from all sorts of industries and niches. If you’re looking to establish your business in Asia, Manila could be a perfect choice.