balinkbayan.gov.ph : How to Register Computer, Printing & Photocopy Business Philippines
Organization : BaLinkBayan
Facility : How to Register a Computer, Printing & Photocopy Business
Country : Philippines
| Want to comment on this post? Go to bottom of this page. |
|---|
Website : https://balinkbayan.gov.ph/
Register Computer, Printing Business :
Computer, printing, and photocopy shops are popular among students and non-students alike. These services are important in their studies, jobs, and at times, leisure.
Related : How to Establish Tourist Inn Philippines Balinkbayan : www.statusin.org/26946.html
1. Register the Business Name at the Department of Trade and Industry (for Single Proprietorships) or the Securities and Exchange Commission (for Partnerships and Corporations). Validity : 5 years
The law governing the registration of business name is Act No. 3883, as amended by Act No. 41476 and R.A. No. 863, otherwise known as the Business Name Law.
2. Get a Mayor’s permit from the municipality or city where the business is located. Validity : 1 year
3. Apply for an Employer’s Tax Identification Number (TIN) at the Bureau of Internal Revenue (BIR).
4. Investors should register for a Social Security System (SSS) Certificate.
5. For businesses with five or more employees, owners must register with the Department of Labor and Employment (DOLE).
Advantages :
** Huge short-term credit demand – Micro-lending caters to individuals who are in need to pay short-term financial obligations. Some of them are small and marginal farmers, rural artisans, weavers and the self-employed.
** Fast processing of loans – Unlike banks, micro-lending does not require their clients to undergo tedious process to acquire loan.
Disadvantage :
Risky – Individuals who acquire loans from micro-lending often belong to low economic level.
Loans are also exempted from rules and regulations which may be issued by the Monetary Board with respect to unsecured loans under Section 41 of the General Banking Law of 2000
Finanical :
Microcredit :
** Microcredit, also known as microfinance loans, are small loans granted to the poor and low-income households for their microenterprise and small businesses to enable them to raise their income levels and improve their living standards. Other microfinance products include loans, deposits, transfers or payments or micro insurance.
** Microfinance loans are typically unsecured, for relatively short periods of time (180 days) with monthly (or more frequent) amortizations of interest and principal, and often featuring a joint and several guarantee of one or more persons and, certainly, seldom with tangible collateral.
Advantages :
Social Media Engagement :
** According to UM, a division of IPG Mediabrands, Filipinos are the most active in social media engagement*.
Constant need for photocopy and printing services :
** Students constantly need to photocopy study materials and printing of school papers.
Popularity of computer shop services :
** This includes online games and chat, movie and audio downloads, and video streaming.
Disadvantage :
Fast-paced technology advances :
** Continuous innovation leads to the need for constant programs updates and part replacements.
Internet connection :
** The internet service in the Philippines is below average.
How to establish a micro-lending business?
1. Secure a Certificate of Authority
** In forming a microfinance organization, choose the corporate and trade name that shall include the word “Microfinance” to indicate its primary activity. The purpose clause of the Articles of Incorporation shall state that the organization conducts microfinance operations pursuant to Republic Acy No. 8425, the Social Reform and Poverty Alleviation Act.
2. Acquire the minimum capital of P150, 000
3. Complete all the necessary requirements
Microfinance shall file with SEC four copies of duly accomplished application form to operate as a Micro-finance-NGO, signed under oath by the President, together with the following documents in the prescribed form :
** Information sheet
** NBI clearance of each director/officer
** President Sworn Statement and Undertaking
** Business plan including method of marketing its product and sources of funds and maturities of credit
** Statement of its compliance with Rule 17, 1 (2) (A) (i) and (ii) of the Amended Implementing Rules and Regulations of the Securities Regulation Code
** A location map indicating the exact address of the principal office signed by the President and countersigned by the Corporate Secretary.
4. Register the micro-lending business with the Securities and Exchange Commission (SEC).
About Us :
With the steady inflow of remittances to the Philippines and the growing awareness of its potential for sustenance and development, the Commission on Filipinos Overseas (CFO) recognized the need to establish BaLinkBayan.
A quip on the Filipino word balikbayan (a returning overseas Filipino), BaLinkBayan is a means to connect Filipino individuals and communities to the Philippines through the Diaspora to Development (D2D) program of the CFO.
BaLinkbayan focuses on the five of the D2D: diaspora investment and entrepreneurship, diaspora philanthropy,brain gain program, educational exchange and medical mission coordination.