The Philippines could theoretically be one of the best entrepreneurial countries globally.
CEOWorld’s Entrepreneurship Index ranked the Philippines as the 18th most entrepreneurial country globally, just after Canada.
The Entrepreneurship Index grades the following factors that could determine the “best countries for entrepreneurship”:
- labor skills
- access to capital
- openness to business
Researchers analyzed 18 factors in each of the six categories to develop the index, where the Philippines landed in the top 20.
These results, however, seem surprising to Filipino entrepreneurs who’ve experienced doing business in the country firsthand. Because in reality, it’s not always a smooth ride.
In the Philippines, one would have to jump through many hoops before a business is born. One hoop would be the Bureau of Internal Revenue (BIR), the local government, and the Department of Trade and Industry. These three are not the only ones, and they’d have to go through many red tape and countless paperwork to have and keep a business.
This is the reason why although the Philippines is a great candidate to be an entrepreneurial country, Filipinos don’t want to deal with the complications of starting their own business. This is why Filipinos, in general, are not looking to build a business. They are more inclined to become employees rather than becoming entrepreneurs.
This is also one of the reasons why outsourcing to the Philippines is a great idea.
If you’re ready to hire, head on over to OneVAAway.com. I’ll show you how to know whom you can trust. It’s not hard, it doesn’t take a bunch of time, and it doesn’t require getting on a bunch of video calls with people.
This practical advice is just one of many we have in our blog. Head on to our outsourcing education page to catch the whole series.
You can also check out how to get started on hiring Rockstar Virtual Assistants.
About John Jonas
John Jonas is a long-time outsourcing expert and the creator of OnlineJobs.ph.
Since 2005, John has taught hundreds of thousands of entrepreneurs how to profitably delegate to VAs in the Philippines (and get their lives back in the process).
With help from his own VAs based in the Philippines, John has created an outsourcing empire that allows him to work 17 hours/week and to spend most of his time with his wife and 5 kids.
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