Here are a simple guide on opening of new business for new entrepreneur to consider:
- identify what form of business you like to open (single proprietorship, partnership, corporation, cooperative)
-decide on the company or business name
-register with DTI(single proprietorship), SEC(partnership or corporation) or CDA( cooperatives).
-register with the barangay, city or municipality, BIR and other government agencies (SSS,Philhealth,HMDF etc)
-print and register reciepts for your business
Businesses to be considered as legitimate should be registered with the appropriate government agency. The government has the right to close your business in the cities or municipalities where you are operating. After deciding what type of business you want to open, you should register it with the proper agency of our government.
-Department of Trade and Industry (DTI)
-Securities and Exchange Commission (SEC)
-Cooperative Development Authority (CDA)
-Social Security System (SSS)
-Home Development and Mutual Fund (HDMF)
-Local Government (Barangay, Municipal, CityHall)
-Bureau of Internal Revenue (BIR)