THERE is no place like home for Filipino businesses, according to Regus.
In a statement, Regus said a recent survey showed that seven out of 10 Filipino businesses would prefer to expand in the Philippines, rather than do so abroad. The fondness for home is strongest among small and medium enterprises (SMEs), with 77 percent of small businesses and 83 percent of medium-sized businesses preferring domestic expansion, compared with 58 percent of large companies.
“For both local and international companies, there are good reasons for doing more businesses in the Philippines: its fast-growing economy, investor-friendly climate, good trading links with other countries in Asia-Pacific and dynamic marketplace of 90 million consumers. Why travel to new pastures when the one on the doorstep is full of possibilities?” said William Willems, Regus vice president for Southeast Asia.
In a survey of 17,000 businesses worldwide, 55 percent of Filipino companies reported profit growth and 59 percent reported revenues growth—higher than the global average, according to Regus.
“Nevertheless, by closing their minds to overseas expansion, Filipino companies may be missing opportunities. For example, exporting has been found to have a positive effect on productivity, taken into consideration that the more productive firms start exporting right from the start,” Willems said.
“The main problem with expanding overseas is the cost, in both capital investment and management time. Offices need to be located and leased, infrastructure set up, and everything has to be managed from afar. However, such costs can be saved. Businesses can outsource their property requirements, using flexible, business-ready office space that companies like Regus equip and maintains,” Willems said.
Besides freeing up time for core management activities, he said greater flexibility is also introduced: the business can expand or reduce its footprint, as and when business requires.
“Using flexible workspace is equally effective at home. Traditional fixed-office working—where staff commute to a central office— is expensive; it locks companies into paying for space that may be underutilized and unwanted. It also locks staff into a lifestyle of long, stressful hours commuting to and from work,” Willems said.
He said switching from fixed-office working to flexible working— where staff work at home or at business centers closer to home, or at hours that suit them—offers greater agility to businesses and greater convenience to their staff.
This in turn can increase productivity, improve work-life balance and cut property overheads. “It is no wonder that almost 90 percent of Filipino companies offer flexible working options to their staff,” Willems said.
“On top of that, moving from centralized fixed space to flexible workspace that someone else manages frees up management time for the core activity of growth. It is a great recipe for expansion—whether Filipino companies do it at home or abroad,” he added.
