Making money in the Philippines

1T Bill

Its important to realise that in the Philippines having money makes money. The fact of the matter the economy is pretty much starved of capital in many sectors which gives opportunity to advance a business sector if you can get round all the political and corruption issues that surround businesses here. I am currently at a crossroads where although we have a steady stream of income which will continue to grow at a rate well above our expenditure its not enough to reach the goals I have set out this year. I don’t wish you be rich because at the end of the day if it was all about the money I would be sat in the UK writing this blog about how my revenue stream has increased by working in the UK and shipping my money out to the Philippines for businesses and investments. Truth of the matter my wife April is currently pregnant and I can’t see me outside of the Philippines for at least a year as I have already missed so much time with Zoei and wasn’t here at the time of her birth. Nicole on the other hand seems to have adapted to the situation of me not being around as much as I would like back in the UK as well as having a step father that they seem to get on really well. We have also had rumblings going on in the background here in the Philippines which are concerning me as there may be a legal battle in the future that I have to prepare for. All in all I am currently looking at raising an extra P3m this year for projects that can pretty much secure our future for good. If I can reach that goal I have no doubt our advancements are secure. A discussion came up the other day with a friend in Makati that has had to deal with the schools here P10,000 a month and they try to treat you like crap because they know the best schools will always be full. It also leads to getting the best jobs the same as the schoolboy network back in the UK. My concern on that is not the P10k a month but the fact I have fought against all that for years simply because I have come across people in the UK who got the jobs out of favour yet are incompetent idiots that end up losing hundreds of jobs within companies for their mistakes yet the worst that happens to them is a golden handshake and onto the next company. I am a strong believer in things being done on merit alone because someone went to a private school doesn’t mean they are any brighter or able than anyone else it just means they bought an education and formed a network of people to carry each other. Is that what you want your kids to become? For me not at all I will be looking at developing ventures where regardless of what is going on in the world they will be secure but at the same time learn the value of money and the fact its earned not given on a silver plate. I am hoping our kids move into engineering as the demand will continue into the next century the way things are going with the “I.T.” world where everyone wants to work on a computer instead of hands on. Result being engineering will be a skill that will always be in demand.

Getting back to my main current issue I need to raise the P3m which will be in chunks of P400,000 (Price of a nearby lot) then P250,000 pieces. As it will be for our next developments. Ideally gaining the first P500k and sitting on it for 6 months would be an ideal venture as I can increase it by P250,000 by investment at the same time adding to it. But where to start is the question all our current ventures are making money and now the apartment is finished where we were starting to go backwards financially we have stalled and now moving forward again. A big lesson learned was there is a reason things take time in the Philippines and setting a tight deadline was achievable but would have been better to drag it out another 2 months and actually have increased more on our investments at the same time as finishing the job labour is cheap but unreliable in many cases filtering guys out was costly and even now there are things I wish I had done myself to improve the quality. But now we sit at the doorway looking for ways to achieve the next set of goals our money is stable and have some spare which I will roll and not touch. The next cash has to come from new streams.. I have been toying with a food cart idea for one venture as there is a location that I think will be good for the venture depending on the rent and finding the right product to sell. A quick investment of around P40,000 could see it initially up and running. I would like to get into exporting goods but I have a major problem capital wise in the fact I cannot afford to risk P1m on the first run it will have to wait for better days also the smaller export ventures I am interested in I am still waiting for people to come back to me so if your a jewellery manufacturer in Cebu there is an opportunity here for you but remember I don’t want any middle men! as simply they inflate the prices beyond being able to compete with other Asian countries better to make P10 on an item than expect to make P150 which is what happens a lot of the time. Most people are used to dealing in small amounts but at the end of the day I need people back in the U.K. , U.S and other countries being able to make a good income as well to make it viable for them to keep selling the goods. I don’t want to sell once I want to selling every month.

No doubt you will hear of my new ventures once I have worked out what I am doing currently I have struggled to sleep for 3 days as finding the right opportunity is still eluding me.. but I will find it! One important lesson people should take on board with the Philippines is its often better to have multiple ventures rather than just one as well as realising your working in pesos not pounds earning £100 on a venture a month you may find a waste of time but P7,000 (roughly current exchange rate value) is enough to pay our rent P3,000 our electric P1,600 and nearly half our food bill out here. Which is why I am currently very cheap to hire if you have any ideas I am all ears.. even working online for a while as I have the spare time at the moment.