Indonesia is a prime location to do business development and growth for many reasons, including free trade agreements, economic growth, and a growing middle class.
One option is to hire employees through outsourcing to take advantage of one of these developing countries. If your company is interested in hiring employees or doing business in Indonesia, read the full report below.
1. Indonesia Free Trade Agreement
Indonesia is a member of the Association of Southeast Asian Nations (ASEAN) and trades with nine other countries with low or no taxes.
Doing business in Indonesia gives you access to over 650 million consumers in ASEAN alone. Reaching this huge consumer base means sales and staffing opportunities by hiring employees in Indonesia for your business. In addition to ASEAN, Indonesia also has trade access to India, China, South Korea, Japan, Australia and New Zealand.
This long list of connections makes Indonesia a major trading hub in the Southeast Asian region.
2. Official Business Language is English
Bahasa Indonesia is the official language of Indonesia, and there are more than 700 languages and dialects spoken throughout Indonesia. In Papua, a single province, more than 270 dialects are spoken.
However, the official language of business in Indonesia is English. This helps reduce the burden of language barriers for foreign business owners and makes it easier for them to enter the Indonesian market. If a company wants to market its products to Indonesian consumers, it must ensure that its marketing is local.
3. Indonesia’s economy continues to grow
Indonesia is the fifth largest developing country in the world after China, India, Brazil and Russia. Indonesia’s economy continues to grow, which means companies can capitalize on emerging sectors.
In 2019, Indonesia will complete the construction of 15 new airports and plans to add a terminal to Jakarta’s Soekarno-Hatta International Airport by 2021. Countries in the construction sector have the opportunity to capitalize on increased demand from employers. With more new airports, Indonesia is more connected, making it easier for other sectors to do business.
4. Indonesia is a “young” country
Indonesia’s population doubled from 1971 to 2010. The average age of the Indonesian population is 31.1 years. A country where the majority of the population is young means there will be many lucrative business opportunities in the coming years.
As the population ages, the country becomes more familiar with modern business practices. A country full of young people also means an increasing number of educated and skilled workers.
5. Indonesia has a growing middle class
Another reason why companies should consider Indonesia for their next venture is that Indonesia has one of the fastest growing middle classes in the world.
The growing middle class makes hiring employees in Indonesia easy; whether a company is already in Indonesia or just entering the market, payroll services through an HR outsourcing company is essential to ensure that you remain compliant with local laws and regulations.
Do you want to start a business in Indonesia, but don’t know where to start? We have the solution! EZPZ Jakarta is here to help you turn your business dreams into reality. Contact us on What’s App: +62 813-8865-4515