Pros and Cons of Outsourcing Your Accounting Processes
Outsourcing accounting and bookkeeping procedures is an emerging trend among businesses of all sizes. Well-managed finances allow companies to make sound long-term projections and crucial business decisions. So, it’s important to weigh the advantages and disadvantages of delegating these processes to an external service provider. PROs Better Time Management Startups and small businesses don’t have […]
Top Accounting Outsourcing Companies in the Philippines
With its native grasp of the English language, familiarity with international accounting standards, a large base of highly skilled finance and accounting professionals, and an already established business process outsourcing (BPO) industry, the Philippines is fast becoming a name in the finance and accounting outsourcing (FAO) sector. 10 Leading Firms that offer Financial Services to […]
Bookkeeping Services Rates in the Philippines
Based on the crowd-sourced salary aggregator PayScale.com, below are the individual service rates for book keepers and accountants: Book keeper service rates* Hourly rates US$ 0.57 – US$ 9.50 Average: ≈ US$ 5.05 Median: ≈ US$ 1.15 Annual rates US$ 1,795 – US$ 6,766 Average ≈ US$ 3,342 Median ≈ US$ 3,225 Accountant service rates** […]
Booming Business in the Philippines
If you’ve been thinking about doing business in the Philippines, now is the time to act. The country’s business environment is thriving. Moving in the Right Direction The World Bank’s “Global Economic Prospects,” released in June 2017, ranked the Philippines10th among the fastest-growing economies in the world. This year, the country’s gross domestic product is expected […]
6 Steps for Setting Up Your First Office
If you need an office for your startup, here are a few helpful tips: 1. Identify your needs. What will you use the office for? House non-telecommuting team members? Meet clients? Establish a credible street address? Integrate functional teams in the future? Your current needs and your future plans will determine the kind of office […]
Good Small Business Opportunities in the Philippines
The Philippines boasts a business environment that has vastly improvedsince the start of the decade. If you want to capitalize on this momentum, here are four promising business ideas to consider, even with limited capital: Freelance and Outsourced Services Thanks to a strong grasp of the English language, familiarity with Western business culture, and growing support […]
10 Ways to Improve Your Hiring Process
A strong team is key to a successful business. Here are 10 ways to boost your recruitment methods. 1. Hire for the company, not for the position. Adopt a big-picture mindset. Keep the goals and best interests of your business in mind so that you’ll be inclined to search for potential contributors to your long-term […]
Mandatory Employee Benefits and Contributions in the Philippines
Wages and Compensation Philippine labor laws require employers to provide their employees with the following compensation benefits: Minimum Wage Workers that render services for a total of 40 hours per week (8 hours per day, 5 days per week) are entitled to receive at least the daily minimum wage. For companies operating within the National Capital […]
Hiring an Employee vs. Hiring an Independent Contractor
The recruitment landscape in the Philippines is changing. There are more freelance and contract-based workers today offering employers more options when it comes to recruiting talent. The Difference Between Permanent and Contractual Employees Permanent employees are those who are hired with no fixed or agreed-on end of tenure. Their employment ends only if the employee […]
