Doing Business in the Us or Phillipines

Ashley Bailey

ENT 342-01: International Entreprenuetship

Professor Esra Memili

20 January 2015

Doing Business in the US or the Philippines

Having an entrepreneurship spirit, if I choose to expand my company globally I would want to do business in a country that is most friendly to small businesses. Countries that are friendly to small businesses are more prone to economic growth than countries whose economies are least friendly to small businesses. For that reason, it is important for entrepreneurs to do extensive research on the determinants of entrepreneurship prior to doing business in that country in order to continue flourishing in their business. Ultimately, the goal of a business is to make profit and business owners must be smart if they want to expand.

According to the World’s Bank Doing Business reports, the United States ranked among the top 10 friendly economies towards small businesses with a FSB score of 2.01. The United States has a positive attitude toward entrepreneurship and it is deeply rooted in their culture. In fact, in a 2006 survey by Junior Achievement (ja.org), more than 70% of U.S. teenagers said they would like to start their own business. It is much easier to start a business in the United States than other countries due to the few regulations when starting a business also the immense assistance from banks. Over the years, the United States has developed an urgency for knowledge and is constantly emerging in the area of technology which makes it even more accessible to financial information.

Unlike the US, the Philippines are among the least friendly to small businesses ranking number 95 of the World’s Bank Doing Business reports and a FSB score of 0.90. The Philippines also ranked very high in starting a business, getting credit, and registering property as well as other determinants. These high numbers indicate that it fairly more difficult to start a business or even expand business in this country. According to Ryan...