Where are the hottest spots to build a start-up? With more Filipinos becoming entrepreneurs in recent years, it is a burning question without easy answers. But a combination of factors makes Metro Manila a more attractive option than others.
As it accounts for 33% of the Philippines' GDP, the metropolitan area is considered the industrial, commercial, and financial centre of the country. While it hosts only a third of the nation's bank offices, it has over two thirds of the deposits.
Opportunities abound if you decide to start a business in the region. The question is, where exactly should you book office space for rent? Well, here are some suggestions.
This is the economic and financial hub of the Philippines as it has the highest concentration of local and multinational corporations. Department stores, corporations, major banks, and foreign embassies are all based here.
In terms of , Makati remains the richest local government unit in the country. As of the end of 2012, it had registered over 62,000 enterprises, which are engaged in manufacturing, export/import, real estate, wholesale/retail, and financial services.
It also boasts of having the highest number of PEZA-accredited IT parks and buildings, along with the greatest number of BPO offices in the region at 1,159 companies to date. Besides that, it is also home to the biggest trading floor of the Philippine Stock Exchange and the tallest skyscrapers in the nation.
This is the . It is listed as a global city and has strengths in transport, tourism, research and development, professional services, media, healthcare, finance, entertainment, education, commerce, and the arts.
It is divided into six legislative districts and is the seat of the executive and judicial branches of the national government. It hosts many sports facilities, scientific and educational institutions, and other historically and culturally significant venues.
Its economy is considered to be rather diverse as it serves as the Chief Seaport of the Country. Here, you can find manufacturers who produce industrial-related goods and local entrepreneurs who continue to process primary commodities for export.
This is Metro Manila's second most important business district after Makati. It is located at the boundaries of Quezon City, Mandaluyong City, and Pasig City.
It is home to many nightlife bars and restaurants, office and condominium skyscrapers, various building complexes, and shopping centres. These include a Shangri-La hotel, the Oakwood Premier serviced apartments, the Asian Development Bank compound, and the St. Francis Square.
The city is also the headquarters of Robinsons Galleria, the Philippine branch of HSBC, Jollibee Foods Corporation, and San Miguel Corporation. Also present in the area are the main offices of prominent engineering firms.
Bonifacio Global City
This is a highly urbanised district in Makati (). In recent years, it has experienced a robust commercial growth thanks to the sale of military land. The entire area used to be part of the main Philippine Army camp.
The city is said to have a high standard of living. It features a science museum, a world-class hospital, embassies, shopping malls, high-end residences, corporate offices, and a beautiful landscape.
Its physical core is the Bonifacio Global City Center which is essentially designed as a three-by-three matrix of bustling retail outlets, pedestrian-friendly walkways and roads, residential buildings, and high-tech offices.
Other developments worth of note are Filinvest Corporate City in Muntinlupa, Madrigal Business Park, Alabang Estates, the Manila Bay City Reclamation Area, Triangle Park, Neopolitan Business Park, and Eastwood City in Quezon City.
As you can see, you have plenty of choices for your business location. It is up to you where exactly you wish to set up shop. Just make sure that you get in touch with a reliable provider of serviced offices and other corporate facilities so you get a prime spot.
About the Author
Gina Ballesteros is a freelance writer from Regus, a global company that is committed to providing quality office spaces and virtual services to clients from various countries, including the Philippines.