SEVEN out of 10 Filipino businessmen would prefer to expand locally before going abroad, a survey of global workplace solutions provider Regus said.

The study showed domestic expansion is preferred by 77 percent of small enterprises, 83 percent of medium-sized businesses and 58 percent of large companies over international expansion.

William Willems, Regus Southeast Asia vice president, said the fast-growing economy, investor-friendly climate, good trading links with other countries in the Asia Pacific, and dynamic marketplace of 90 million consumers are among the reasons  staying in the country is viable option for Filipino businessmen.

“Why travel to new pastures when the one on the doorstep is full of possibilities?” Willems said.

 In fact, Willems said the 55 percent of Filipino companies that responded to the Regus survey reported profit growth and 59 percent indicated revenues growth—higher than the global average.  

He, however, cautioned of a possible backlash if local companies totally shut out the option in either expanding or doing business overseas, saying crucial business opportunities could be missed out. 

“For example, exporting has been found to have a positive effect on productivity, taken into consideration the fact that the more productive firms start exporting right from the start,” he added.

The main problem in expanding overseas, Willem said, is the cost to be incurred in both capital investment and management time.

“Offices need to be located and leased, infrastructure set up and everything has to be managed from afar. However, such costs can be saved. Businesses can outsource their property requirements, using flexible, business-ready office space that companies, like Regus, equip and maintains,” he said.