Entrepreneurship Study Notes
Entrepreneurship Study Notes
Entrepreneurship Study Notes
In operating a business, the entrepreneur should first consult professionals for advices, like accountants
or consultants from small enterprises. In your case, you can consult your teacher in Entrepreneurship or
anyone you think who could help you.
The following are the basic requirements to start a business in the Philippines:
Securities and Exchange Commission (SEC) Registration - for partnership or Corporation
Department of Trade and Industry (DTI) Registration - for your business tradename
Mayor’s Business Permit - for getting the license to operate in the city or municipality and payment of
your local business taxes
Bureau of Internal Revenue (BIR) Registration - for getting TIN, official receipts and invoices,
registering your books of accounts and paying your national Internal revenue taxes
SSS, PhilHealth, and Pag-Ibig Fund registration - for registering yourself or your company as an
employer and for remitting your employees’ contribution together with your employer’s share