Developing A Business Plan: Sergio Rafael R. David
Developing A Business Plan: Sergio Rafael R. David
Developing A Business Plan: Sergio Rafael R. David
BUSINESS PLAN
SERGIO RAFAEL R. DAVID
BEFORE starting a business
STARTING A BUSINESS INVOLVES PLANNING,
MAKING FINANCIAL DECISIONS AND COMPLETING
A SERIES OF ACTIVITIES.
BEFORE STARTING A BUSINESS YOU SHOULD
KNOW AND MAKE A LIST OF THE FOLLOWING
BEFORE starting a business
1. REASONS YOU ARE 7. YOUR BUSINESS 13. THE LEGAL
STARTING A BUSINESS LOCATION STRUCTURE OF YOUR
8. THE NUMBER OF BUSINESS
2. KIND OF BUSINESS EMPLOYEES YOU NEED
YOU WANT 9. THE AMOUNT OF 14. BUSINESS PLAN
3. PRODUCTS OR MONEY TO GET 15. TYPE OF
STARTED OR IF BANK
SERVICES YOU WILL LOAD IS NEEDED MANAGEMENT AND
PROVIDE 10. TYPES OF ADVERTISING STYLE
4. YOUR TARGET SUPPLIERS YOU NEED 16. THE TAXES AND
CUSTOMER 11. LEAD TIME TO TAKE BUSINESS PERMITS
BEFORE YOUR YOU NEED TO PAY
5. YOUR COMPETITORS PRODUCTS OR
SERVICES ARE 17. PERSONS TO GET
6. YOUR DIFFERENCE AVAILABLE
FROM COMPETITION PROFESSIONAL HELP
12. PRICE OF THE OR ADVICE
PRODUCT COMPARED
LEGAL STRUCTURE
YOU HAVE TO DETERMINE FIRST THE LEGAL
STRUCTURE OF YOUR BUSINESS BEFORE
APPLYING FOR BUSINESS REGISTRATIONS AND
PERMITS. LEGAL STRUCTURE IS ALSO CALLED
OWNERSHIP STRUCTURE. THE TYPE OF
STRUCTURE WILL DEPEND ON THE SIZE AND
TYPE OF THE BUSINESS YOU ARE PLANNING TO
GET INTO.
Types of
business
structures
Sole partnership
It is the simplest business to set up. It has only one
owner. It is not a legal entity, therefore the owner of the
business is personally liable for its debts. You can apply
for a business registration at the department of trade
and industry.
partnership
It is a business where two or more people share
ownership. Each partner contributes to all aspects of
the business, including money, property, labor or skill.
Each partner shares in the profits and losses of the
business. You can apply for a business registration at
the securities and exchange commission.
corporation
It is an independent legal entity owned by people called
shareholders. This means that the corporation itself, not
the shareholders that own it, is legally liable for the
actions and debts the business incurs. You can apply
for a business registration at the securities and
exchange commission.
For all types of business structures, after you have
registered your business, you have to apply to get a
mayor’s/business permit from the city or municipality
where your business is located, a barangay clearance,
and a bureau of internal revenue (bir) tax identification
number (tin). You also have to apply for a social security
system (Sss) certificate.