Tips on How to Start a Business. What are its benefits and risks? All about why GO into Business. Be an Entrepreneur! (Philippine Context)

1. HOW TO
START A
BUSINESS?
By:
NICO S. CATUBIG
IMGLAD Tourism Technical Staff
Sarangani Tourism and Investment Promotions Center

3. ENTREPRENEURSHIP IS A WAY OF LIFE.
BEING ENTREPRENEURIAL MEANS BEING
ABLE TO IDENTIFY, START AND MAINTAIN A
VIABLE A PROFITABLE BUSINESS,
PARTICULARLY A SMALL ENTERPRISE.

4. WHY GO INTO BUSINESS?

5. REWARDS OF GOING INTO BUSINESS
#1
HAVING
UNLIMITED
OPPORTUNITY
TO MAKE MONEY

6. REWARDS OF GOING INTO BUSINESS
#2
BEING
YOUR OWN
BOSS

7. REWARDS OF GOING INTO BUSINESS
#3
TAPPING YOUR
CREATIVITY

8. REWARDS OF GOING INTO BUSINESS
#4
OVERCOMING
CHALLENGES
AND FINDING
FULFILLMENT

9. REWARDS OF GOING INTO BUSINESS
#5 HELPING OTHERS

10. REWARDS OF GOING INTO BUSINESS
#6
BUILDING AN
ENTREPRENEURIAL
LEGACY

11. RISK

12. RISKS OF GOING INTO BUSINESS
#1
POSSIBILITY
OF
FAILURE

13. RISKS OF GOING INTO BUSINESS
#2
UNPREDICTABLE
BUSINESS
CONDITIONS

14. RISKS OF GOING INTO BUSINE
#3
LONG HOURS
OF WORK

15. RISKS OF GOING INTO BUSINESS
#4
UNWANTED OR
UNEXPECTED
RESPONSIBILITIES

16. LOOK WITHIN:
SELF ANALYSIS

17. PERSONAL ENTREPRENEURIAL
COMPETENCIES
ACHIEVEMENT CLUSTER
1.Opportunity Seeking
2.Persistence
3.Commitment to work contract
4.Risk-taking
5.Demand for Quality and Efficiency

18. PERSONAL ENTREPRENEURIAL
COMPETENCIES
PLANNING CLUSTER
6. Goal Setting
7. Information Seeking
8. Systematic Planning and
monitoring

19. PERSONAL ENTREPRENEURIAL
COMPETENCIES
POWER CLUSTER
9. Persuasion and Networking
10. Self - confidence

20. LOOKING
OUTSIDE:
SEEING THE
BUSINESS
ENVIRONMENT

21. THE OUTSIDE WORLD
1. Infrastructure Adequacy
2. Business Environment
3. Assistance Programs
4. Government Bureaucracy
5. Market Trends
6. Study Imports
7. Other Possibilities

23. TYPES OF PRODUCT LINE
• PRODUCT INDUSTRIES
You may choose to manufacture your own product, either for the mass
market or for specialized individual demands

24. TYPES OF PRODUCT LINE
• SERVICE INDUSTRIES
You may choose to provide services. Examples are Service enterprise,
Entertainment, Recreation Centers and IT industries.

25. TYPES OF PRODUCT LINE
• PROCESS INDUSTRIES
You may decide to perform only one or two operations in the total
manufacturing process. A Process Enterprise doing Initial Operations,
Final Operations or Skill Operations.

26. TYPES OF BUSINESSES
FORMS OF
BUSINESS
ADVANTAGES DISADVANTAGE
SINGLE
PROPRIETORSHIP
Easy to Set up Demanding on owner's personal time
Decision making left entirely to owner Growth limited by owner's financial means
PARTNERSHIP
(at least two parties)
Relatively Easy to Set up Partnership may be endangered with conflicts
between partners
Check and balance maintained with two owners A decision made by one partner is binding on all
other partners
Generally, liability for debts incurred is unlimited
CORPORATION
(at least five parties)
You share the risks and losses with your partners Complicated setting up process
Maximum flexibility for growth Individual stockholders may have limited influence on
management
Limited liability of individual shareholders Tendency to institutionalize a bureaucracy
Greater room for professionalism in management
COOPERATIVE
(association of persons)
Least likely to be dissolved Shared control of business
Limited liability Consensual decision making
More people benefit from the business
Professional managers maybe employed by the members

27. HOW TO
RAISE CAPITAL?

28. RAISING CAPITAL
1. PAWNSHOPS
2. CREDIT COOPERATIVES
3. MONEY LENDERS
4. LENDING INVESTORS
5. FORMAL SOURCE OF CREDITS
(Banks, MFIs, NGOs)

29. LOCATING YOUR
BUSINESS

30. GUIDELINES FOR LOCATING YOUR BUSINESS
1. Raw Materials
2. Market
3. Transportation
4. Labor
5. Utilities
6. Community
7. Site

31. REGISTERING YOUR
BUSINESS

32. 1. Department of Trade and Industry
2. Securities and Exchange Commission
3. Social Security System
4. Cooperative Development Authority
5. Dept. of Labor and Employment
6. Bureau of Internal Revenue
REGISTERING YOUR BUSINESS

34. BASIC/SIMPLE BOOKKEEPING
ACCOUNTING is the systematic and comprehensive
recording of financial transactions pertaining to a business,
and it also refers to the process of summarizing, analyzing
and reporting these transactions to oversight agencies and
tax collection entities.
A debit is an accounting entry that either increases an asset or
expense account, or decreases a liability or equity account. It is
positioned to the left in an accounting entry.
A credit is an accounting entry that either increases a liability or equity
account, or decreases an asset or expense account.

35. THANK YOU! 