The best way to earn in the country second to a high-paying employment is doing a business. Starting a business in the Philippines can be summarized in the following steps.
First of all, starting a business means getting a birth certificate. Then open the Sunday classified ads of any major daily in the country to look for people or companies offering business. Choose one that suits your preference, list several offers, and call them up one by one. Of the offers in the list choose two to three that seem to promise a more preferable deal. Meet with representatives of these offers. Most of these will probably be franchise offers, the trend in the country.
If the business is a franchise, ask for franchise documents that will prove one’s ownership of the franchise. This document will be asked by city hall officials and stall or concession owners one will later meet. Be sure that franchise documents are complete. This is important in starting a business. For particulars on franchise documents, contact the franchise main office. They will likely be listed online. Or try telephone operator service.
If the business is non-franchise, be sure to have all pertinent documents and records of the business one has bought. Among these are Department of Trade and Industry (DTI) documents for solo or single proprieties or a partnership and Securities and Exchange Commission (SEC) papers for corporations. Then there’s the business permit which is secured from city hall. Last, the Bureau of Internal Revenue (BIR) business papers. Be sure to have all these documents transferred to one’s name. Besides these business documents, starting a business also needs one to secure a barangay character and business clearance from the barangay where one plans to put up a business. Birth certificate is needed here.
The best option is to start one’s own business. Starting a business from scratch (not bought from somebody else) requires routine securing of all aforesaid documents. A warning though: without the barangay clearances no documentation will be accomplished at city hall. Days or week may pass before DTI or SEC or business or BIR papers can be released. So while waiting, one can proceed looking for business locations. Location is crucial in starting a business so give it lots of time.
Starting a business in the Philippines need to go through several phases: getting barangay clearances, securing DTI or SEC papers, business permit from city hall, BIR permit, and choosing a business location.