Starting a business is easier said than done. You have to consider a lot of things before you establish your company. But above all else, the first question you need to answer is “How will I fund my business?”
Business in the Philippines
On February 20, 2019, the government passed the Revised Corporation Code (RCC) of the Philippines (Republic Act 11232). The revisions aim to make it easier to register and maintain a business in the country. Chief among its reforms is the creation of the One Person Corporation (OPC) and the establishment of corporate perpetuity.
Offshore Staffing gives employers the chance to build a global dream team. However, managing remote staff presents some unique challenges. The lack of face-to-face contact can lead to trust and communication issues.
Virtual currency has the potential to empower millions of unbanked people in the Philippines. Currently, only 22% of Filipinos have a bank account. The main obstacles are a lack of documentation and insufficient funds.
A recent survey of 600 small businesses revealed that taxes are their number one challenge. Tax preparation can be very time-consuming, averaging 181 hours to file a return in the Philippines. Luckily, there are some strategies to make tax preparation less costly and time-consuming.
It’s almost that time of the year again, the time where business proprietors and entrepreneurs need to get ready for a new year of operations. And with the approach of January comes not only the glittering fireworks and the wishful New Year’s resolutions but also the duties of filing of tax documentation, and of course the renewals of business permits.
Moving to a new country can be a stressful time. However, there’s no need for finances to be overwhelming. If you are planning an extended stay in the Philippines, opening an overseas bank account can ease the transition.
Professional employer organizations (PEOs) offer businesses an alternative to in-house HR management. In this co-employment model, a company’s employees are hired by the PEO and then leased to the client.
To boost global competitiveness and attract more local and foreign entrepreneurs, the government of the Philippines passed the Ease of Doing Business Act of 2018 (Republic Act 11032) on May 28, 2018.
International travel has never been more accessible for Filipinos. According to the Global Passport Index, the Philippine passport is stronger than ever, ranking 64th worldwide.