Tags: Technology Industry, Telecommunications
By Alexander Villafania
MAKATI CITY, METRO MANILA – Filipino companies that have operations abroad perform better than those that only serve local clients, according to a report by office services provider Regus.
The Regus Global Survey, which polled the opinion of around 12,000 global companies, noted that majority of 50 Filipino firms surveyed were doing better when serving foreign markets and are actually intending to expand their international operations.
The same report stated that only 70 percent of Filipino companies that are operating largely in the domestic market intend to expand abroad in the coming years.
The report also stated that among the major challenges faced by the 12,000 companies polled who want to expand abroad are availability of real estate and manpower. Half of the respondents said that the amount of work needed to set up a foreign presence is one of their main problems.
Likewise, a little over 70 percent of those companies that plan to expand said they only want a short term offshore property commitment because of reservations regarding the speed of their growth.
It is also a concern for those who were part in the survey to get workers for foreign markets. Some 80 percent said they would prefer a senior manager from the parent company while 20 percent said they prefer a local manager.
Despite such concerns, companies that operate abroad perform better largely because of being encouraged to improve management structure and focus on company directions. By diversifying operations and expanding their market base, a company with foreign offices is more highly capable of handling growth and managing risks.
“This report provides hard evidence that, in the current economic climate, Filipino firms who have diversified overseas are faring better than those who have stayed with their home markets,” William Willems, Regional Vice-President for Regus Australia, New Zealand and Southeast Asia.
Added Willems: “This applies to companies both large and small and should act as a wake-up call for those still solely focused on domestic markets to find effective and cost-efficient ways of moving cross-border in order to enhance their earnings and spread their risk.”
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