Directing your goals towards regional trade is the new challenge for business strategy planning this 2014.
You will see a growing number of regional trade hubs in cities as well as online communities. The move towards regionalization is an inescapable choice by executives as well as entrepreneurs in bringing work at home or in the cities of South East Asian nations to cut expenses on leasing, transporting products/services, and hiring workers. The rising cost of renting a space, the fluctuating economic status of the United States (affecting its associated countries– United Kingdom and Australia), and the availability of the internet makes regionalization a practical trend.
Setting up a regional trade hub is easier to maintain, recruiting highly skilled workers is within reach, and reaching out to target market is faster than doing these in the United States. Focusing your business efforts in key cities of South East Asian nations (Bangkok, Jakarta, Manila, and Singapore) will help you gain advantage of the increasing Gross Domestic Product (GDP) rate of such countries.
This means you can channel your product/service offerings to the cities as well as to the rising regional market to boost sales profits. Also, regional markets allow you to facilitate speedier delivery of product/service, cycle of market consumption, and return of investment. Conducting your business in the active cities and regional markets of South East Asian nations help you achieve a more stable economic progress for 2014 up to 2025. Such attractive benefits open the arena for business strategy planning about the sustainability of regional trade hubs.
Another benefit of setting up a regional trade hub is the availability of local professionals for hire. Highly skilled workers in Information Technology, Computer Science, Communications, and Commerce are just within the local neighborhood. The bulk of available trained workers in South East Asia is enough for you to keep the business thriving.
When it comes to communications, the above mentioned countries have fast internet connectivity that will be sufficient for you to conduct Skype conferences, file transfers, email correspondences, VOIP calls, research, and online payment transactions. Performing day-to-day customer relations, sales, Information technology tasks, and creative projects have no significant difference when conducting these abroad. Opting for a regional trade hub is a cost-efficient means to reduce business expenses, and increase sales profits.
There will be a slight cultural adjustment between the foreign employers and the local employees, but if you will set up your business in the Philippines, the difference will be minimal as workers in Manila city are more resilient to multi-cultural challenges.
The cheaper cost of setting up an office regionally, the availability of local skilled workers, and the faster turnaround time of sales-profits– all makes focusing on regional trade a wiser choice for business people.
As for the professionals, the local market, and the online community; the accessibility of world-class products and services as well as jobs, make staying in the local city a convenient and practical option.
As the world grows closer through internet, and the regional cities empowered; business is becoming more virtual, reducing the necessity of a physical office. The move towards regionalization is the inevitable trend for 2014, redefining business strategies for South East Asian countries, especially the Philippines.
To learn more about setting up a business in the Philippines, you may contact me for a brief consultation. Call 632-846-6845.
