DAVAO CITY—Survival is high for entrepreneurs doing business here on their first year of operation, which range from 86 percent to 90 percent, the local investment promotion office said.
In December alone, the number of businesses that renewed their permits at the business bureau reached 33,052 which represent 86 percent already of the businesses that were registered last year.
“And we are still waiting for the January data of renewals, which are expected to increase the number of renewals to more than 90 percent,” said Ivan C. Cortes, acting chief of the City Investment Promotion Office.
The office equates renewals with survival because of the concept of continuity of business.
“During the last five years, survival of businesses on year-on-year basis averaged 80 percent, with 2014 already showing 86 percent,” he said.
Outsourcing companies have become the favorite newcomers here, and Cortes said that “they now consider the city the ideal location for business-process outsourcing.”
Real estate and housing remained on top of the robust business operations, Cortes said, citing constructions all around the city.
While there was a decline in revenue in the last two years, Cortes said the income also stayed within the P6-billion mark. In 2013 the city earned P6.4 billion, and declined by P100 million to P6.299 billion by last year.
Value of businesses last year, based on capitalization, was P203 million, he added.
Manuel T. Cayon / Mindanao Bureau Chief