Manila, Philippines,, May 28, 2025 / Prnewswire / – Small Philippine companies continue to stand out as among the most dynamic of Asia-Pacific Region, with 77% declaring growth in 2024 and 89% expecting to develop this year.
These main results, of the latest investigation into small businesses in Asia-Pacific conducted by one of the largest professional accounting organizations in the world, CPA Australia. This upward performance is widely attributed to a state of mind focused on the customer.
However, challenges such as access forced to finance and the slower adoption of technologies compared to other markets in the region retain certain companies.
Last year, the largest number of small Filipino companies growing since 2019. Reflecting this improved feeling, 41% of respondents increased their workforce in 2024 and 57% plan to hire more employees in 2025.
Loyalty and customer satisfaction remain the main drivers of small businesses in The Philippines. Almost half (46%) of Filipino respondents cited customer loyalty as the highest growth factor, while 37% have selected an improvement in customer satisfaction.
M Rufus PintoAn accountant qualified in Australia of the CPA who works in the Philippin finance industry, said: “Small businesses The Philippines are prosperous because of their exceptional approach centered on the customer, which helps them to keep loyal customers and to attract new ones.
“Overall, the economy maintained regular growth last year, driven by high domestic consumption, which created many opportunities for small businesses.”
Mr. Pinto said that the youth profile of the Philippine owners of small businesses was a key advantage. “Our young population is a key engine of the dynamic economy,” he said. “”The Philippines One of the youngest profiles of small businesses in the region and their strong entrepreneurship is to stimulate the growth of the sector. “”
Reflecting confidence in the perspectives of companies, 28% of Filipino respondents expect strong growth in foreign market income in 2025, a three -year summit that exceeds many regional counterparts.
“With a young English-speaking workforce and a strong work ethics, The Philippines There remains a higher destination for the outsourced services of international companies, in particular for voice services and customer support roles. Small businesses should continue to take advantage of these forces to attract more customers abroad, “he said.
Despite promising prospects and employment trends, small Philippine businesses continue to delay their regional counterparts in digital adoption. In 2024, 62% of respondents said they had won more than 10% of their online sales income, below the average questioned of 67%.
Although 74% received more than a tenth of their income from digital payment technologies such as DragonPay and GCASH, near the regional average (75%), only 13% asked for computer advice last year, well below the Asia-Pacific Average of 28%.
“With a large talent pool and the emphasis on people to people, small Philippine companies tend to prioritize personal connections on digitization and automation,” said Pinto. “Challenges such as limited internet access in rural areas, a large non -banished population and dependence on cash and funding also hinders digitization.”
However, the advantages of technological investment are clear. Among the small Philippine companies that invested in technology in 2024, 69% declared better profitability, well above the Asia-Pacific average of 56%. This place The Philippines Second among all the markets interviewed.
The cost increase remains the first challenge, 40% of respondents citing it as a key obstacle. Access to finance is also an obstacle. While 65% asked for external finances in 2024, only 22% found easier to obtain, the lowest result in the region. This trend should persist.
“Banks remain the main source of funding, but only 22% of respondents have appointed them as their main lender,” said Mr. Pinto.
“When requesting bank financing, it is generally necessary to demonstrate how the funds will be used and the credibility of borrowers. Small Philippine companies should set long -term objectives and craftsmanship well prepared to achieve them. These are persuasive and solid documents to obtain bank loans.
“Council professionals, including accountants who have internationally recognized CPA designation can help improve financial files and solve technical problems such as taxation.”
CPA Australia The Small Business Survey in Asia-Pacific has collected the views of 4,236 small businesses in 11 Asia-Pacific markets in November and December 2024including 310 of The Philippines. It’s CPA Australia 16th Annual survey on problems and the feeling of small businesses since 2009.
About CPA Australia
Founded in 1886, CPA Australia is one of the largest professional accounting organizations in the world representing more than 175,000 members working in more than 100 countries and regions of the world Southeast Asia. CPA Australia Advance the interests of its members thanks to the exchange of education and knowledge, the development of professional networks, enlightened leadership and the promotion of the value of Australia of the AUP for employers, government, regulators and the public. The CPA Australia designation denotes strategic business leadership and is recognized and appreciated worldwide. More information available on www.cpaaustralia.com.au
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Source CPA Australia
