Requirements

for Establishing a
Small Business

Submitted to: Submitted by:

Mrs. Elaine Soriano Den Mark Valdez

Mark Christian Aquino

Gebriel Luzano

John Philip Vergara

Christian Permison
 NARRATIVE REPORT

Doing business in the Philippines, either as single proprietorship,

partnership or corporation calls for licenses or permits from government. An
investor or businessman needs to obtain a business license in the locality where
he will establish his business, as well as register hi business with the Department of
Trade and Industry in case of sole proprietorship or with the Securities and
Exchange Commission in the case of partnership and corporations.

The Department of Trade and Industry (DTI) administers the registration of

business names.

A business proprietor who wishes to start his/her own business needs to

register with the DTI. Business name registration is compulsory and mostly
complete before the business starts operating. The DTI, the proprietor is assured
that no other individual or group may legally use the business name anywhere in
the Philippines.

For taxation purpose every business enterprise has to register with the
Bureau of Internal Revenue (BIR) before the commencement of the business
operation. And at least one of the employees must registered to the Social
Security System (SSS).