SMEs in the Philippines are an incredibly important part of the country’s economy. As said by the Department of Trade and Industry (DTI), among the 957,620 enterprises registered in the country in 2022, SMEs make up 99% of them. This is because it is simple to launch your business through e-commerce websites, mobile app services, and other online markets.
Even though there is a growing number of SMEs in the Philippines, we must know how many succeed or fall short of their business goals. Sad, but the truth is not all SMEs can continue what they started.
One of the most common mistakes of small business owners is they do everything at once. This causes them to have a lack of time to grow their business. Because they also work on marketing, accounting, and managing their websites, they forgot to focus on their core business responsibilities.
As a small business owner, you won’t have time to grow your business if you keep doing other tasks. Outsourcing to the Philippines is a good option, especially for SMEs. In this blog post, we’ll look at five reasons outsourcing is best for SMEs in the Philippines.
For SMEs in the Philippines, what is outsourcing?
The Philippines is one of the major outsourcing hubs in the world. The country is one of the largest Business Process Outsourcing services export worldwide. You may have thought that outsourcing is for businesses outside the country. However, outsourcing can be done in businesses abroad and domestically.
In a definition of outsourcing by Investopedia, It is the practice of employing a third party from outside a business to carry out tasks or produce commodities previously completed in-house by the business’s employees and personnel. For SMEs, it is a way of outsourcing a particular service you need for your business so you can focus on growing your business. Such services that you need to outsource are web design and development, accounting and bookkeeping, marketing and promotions, and more.
Outsourcing is a great way to expand your business. It’s one option that has been used for years and has helped many business owners reach the next level.
Five Benefits of Outsourcing for SMEs in the Philippines
Regardless of your business type, you can benefit from outsourcing. It can help your business in many ways. Take a look at the five main reasons why you should outsource locally.
1. Outsourcing can help reduce costs.
One of the reasons why SMEs in the Philippines fail is because of a lack of funds to attend to different business needs. Outsourcing in the Philippines, where you launched your business, understands you better than an international outsourcing company. It offers cost-effective services or solutions for your business needs. Compared to giving salary to your hired employees, in outsourcing, you will only pay for the service you choose. This reduces your overhead and allows you to focus on other business areas.
2. Outsourcing can help you access a wider range of skills and experience.
You only want what is best for your business, including having skilled people who will work on specific tasks in your business. However, looking for one is hard and costly, and there is no assurance that the person you will hire is competent enough to meet the needs of your business. When you choose to outsource, you will have access to a large pool of workers, many of whom have experience and education in the field. It’s a bonus that you can communicate with no language barrier.
3. Outsourcing can help you get access to technology that is beyond your current capabilities.
Understandably, when you launch a business, it does not mean you are all-knowing. With the emergence of e-commerce today, many technological advancements are made and used to improve business processes. It is also understandable that you might have difficulty catching up on that. You will need experts who can work with technology-related tasks like creating and designing your website. You would not have a problem with the right software to use or coding-related work because, in outsourcing, they provide everything.
4. Outsourcing can help you focus on growing your business.
This is a way for SMEs in the Philippines to grow their businesses. When you choose to outsource non-administrative tasks, you can focus on the important areas of your business. Outsourcing those tasks that are not part of your work as the owner effectively saves time and gives you focus. By outsourcing some of your work, you can free up your time to focus on what’s important – growing your business.
5. Outsourcing can help you increase work productivity.
Outsourcing helps you designate tasks accordingly. Doing so will help your business increase efficiency and productivity. It will allow you and your in-office employees to focus on what they are doing rather than worrying about tasks not part of their job responsibilities. By outsourcing, you will have the opportunity to have more efficient business operations.
Prime Outsourcing SME solutions
If you’re a small to medium-sized business looking for qualified and trained employees in the Philippines, you have many options beyond hiring employees; outsourcing is an option worth considering. Outsourcing is an effective way to save money and time. Likewise, doing it in your home country is even better.
Prime Outsourcing has been developing and designing professional, customized, full-featured online websites for small and medium-sized businesses in the Philippines. We use effective development and design strategies to help SMEs manage e-commerce and communicate more efficiently with customers.
Aside from development and design, we also assist SMEs in the Philippines in increasing their ROI by providing other useful solutions for their virtual stores, such as payment and shipping process systems, data-driven results, and online marketing. Consider using our SMEs solutions to start selling your products and services quickly. Contact us today.
