Dumaguete Info Search


business partner

Discussion in 'Dumaguete City' started by Englishdave, Jul 18, 2020.

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  1. Englishdave

    Englishdave DI New Member

    Jul 18, 2020 #1
    moving soon to dumaguette 'looking for a business partner '''
     
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  2. SkipJack

    SkipJack DI Senior Member

    Jul 18, 2020 #2
    Welcome to the forum Dave! What kind of business are you interested in?
     
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  3. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

    Jul 18, 2020 #3
    Have you done your market research? What is the expected ROI? What percentage of foreign ownership does your business allow on the negatives list? Have you ever ran a successful business? Have you ever ran a successful business in the Philippines?
     
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  4. Philpots

    Philpots DI Senior Member Restricted Account

    Jul 18, 2020 #4
    Goog questions. not too keen on that post just looking for one. It would help to more specific.
     
  5. Notmyrealname

    Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer

    Jul 19, 2020 #5
    Are you aware of human nature:

    1. Partnerships with family or others can end in disputes (different ideas, different amount of the workload being carried out by each person)
    2. Some smart looking guys are crooks and will fleece you. So know your partner very well. Many schemes sound great on paper but often fail in reality.
    3. Not a good country to have partnerships with locals - you will be seen as having money and they will think they should have some of it! Not all - but most I think. Foreign wise men say here something like 'if you want to have 10 million pesos here in your bank account then come with 15 million.'
    4. The people who look sound will be very cautious of dealing with you - they don't know you. It may be that the keenest to work with you might be the least suitable.
     
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  6. Happy Camper

    Happy Camper DI Senior Member Restricted Account Infamous Showcase Reviewer

    Jul 19, 2020 #6
    One, what kind of business?

    Two, another saying here is: Want to make a little money, spend a lot of it.

    Three, depending on the kind of business, you will not be allowed controlling interest, less than 50%. That is one of the reasons that Steve Wynn and Donald Trump (pre-Presidency) did not go forward with their intended ventures.
     
  7. hiddenuser

    hiddenuser Guest Guest User

    Jul 19, 2020 #7
    hi englishdave. well there are two rules to enjoying life in a tropical paradise like this. first, you have to live between the tropic of cancer and the trop of capricorn. that is about 40 percent of the earths surface and includes such places as the entire country of peru. the second requirement is (to enjoying life here) is do not work at anything. best advice i have seen here so far is bring 15 million pesos with you. i will add to that, invest it in something safe in england and live the good life on the income. at the very least, come here and live two years before you even consider putting money in anything including buying a house or condo or business. life here can be very good dave if you don't assume it to be like england in any way! good luck always!!
     
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  8. Notmyrealname

    Notmyrealname DI Forum Luminary Highly Rated Poster Showcase Reviewer

    Jul 19, 2020 #8
    Agree - and especially the lack of laws to protect your interests. Pick the wrong partner, have a dispute, go to Court, wait 5 years, lose your case because your partner is well connected .... OR .... have a dispute, he pays someone to silence you (permanently). It can cost 10,000 pesos (about £160) to end your life here.
     
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  9. Dutchie

    Dutchie DI Senior Member Showcase Reviewer Veteran Army

    Jul 19, 2020 #9
    Some answers here may seem a bit crude, but yes bad things can happen here.
    I would say that proceeding cautiously is probably best, and advice to live here at least one or two years before starting a business is definitely sound advice.
    Looking for a business partner online seems like a recipe for trouble to me (not just in the Philippines).
     
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  10. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

    Jul 19, 2020 #10
    OP has yet to reply. I see no real point in this thread. Chances are that the OP has no history in running a local business and won't be the next San Miguel or Jollibee, no respectable returns would ever be had before the business was ran into the ground by incompetence and/or local competition. If you want to be a business partner invest in the Philippines stock market. You can legally be a "business partner" in well established businesses ran by competent local owners and see some actual returns. Going in as a business partner locally is a fast way to lose a lot of money and give yourself nothing but headaches. There is a steep learning curve and few foreigners will ever be successful in the Philippines.

    Be smart, go with the established and missive corporations. Mom and pop stores will be ran out of business by these larger corporations just as they have in every other developing/developed country.
     
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