The backbone of Philippines local economy are these small businesses.  They require small capital and there is always a demand for any product and service we could imagine in this highly populated archipelago.  The government has always been pushing the entrepreneur spirit among the Filipinos, after all they are known for their ingeniousness and hardwork.

Advantages of Small Busines

We always here our business minded elders tell us to “start small”! The biggest edge of small business is that they can be started at a very minimal cost and sometimes you can also do it on  a part-time basis.  Nowadays it has even propelled even easier with the use of internet, that we can do our marketing online. Prior to internet revolution finding your clients for your  specialized niches and something very hard to do and requires big sum of money.  Small business proprietors tend to be intimate with their customers and clients which results in greater accountability and maturity.

Independence is another advantage of operating a small business. The number one reason that inticed people in running their own business from the start is having that kind of freedom and the need of being their own boss.Freedom to operate independently is a reward for small business owners. In addition, many people desire to make their own decisions, take their own risks, and reap the rewards of their efforts. Small business owners have the satisfaction of making their own decisions within the constraints imposed by economic and other environmental factors. However, entrepreneurs have to work very long hours and understand that ultimately their customers are their bosses.

Small Business in the Philippines

Problems confronted by Small Businesses

Number one reason for bankcruptcy among small business  is undercapitalization.   This is often a result of poor planning rather than economic conditions – it is common rule of thumb that the owner should have  a sum of money at least equal to the projected revenue for the first year of business in addition to his anticipated expenses. Failure to provide this level of funding for a small business could leave the owner liable for all of the company’s debt  and ends up bankcrupt in the end. Most often, entrepreneurs who launched a career in small time business lacks also the management skills of a well seasoned businessman and this of course contribute on the life expectancy of any small businesses. Lack of good marketing strategy also contributes a lot of to small scale business to flourish.

Marketing Small Business

Getting your new customers has always been the biggest challenge so far of small business.  Remember that the life of your company depends on it.  The owners are the one’s typically responsible in creating marketing campaigns on a daily basis to keep customers flowing.  Common marketing techniques for small business include networking, word of mouth, customer referrals, yellow pages directories, television, radio, outdoor (roadside billboards), print, email marketing, and internet. Electronic media like TV can be quite expensive and is normally intended to create awareness of a product or service.  Twitter, Facebook, and the blogging industry are also often employed to get closer to your customers.  The internet has ahelped a lot of small businesses products anywhere else in the world.

In the Philippines, Franchising is fast becoming a popular, reasonable investment vehicle for Filipinos. For whatever reason you may have: an individual seeking financial independence, or a family looking for additional income, investing in a proven franchise is a tried and tested way of making money, more so than starting your own business from scratch,   where the startup risks are often higher.  Here are some important tips if you are at the brink if getting a franchise or thinking of franchising your business:

1.  When do I franchise my business?

First ask yourself if your business is already in place?   This means that all your operations, from production to distribution, is all in placed  and it can easily be replicated.  To successfully copy a business, have a set of standards and operating procedures (or SOPs). Putting them down on paper will ensure that all  the important aspects are covered, and all potential problems have a ready solution.  You should follow this  up by building a program for  your franchisees training for it plays a crucial role in helping them see how things are done in a franchise system. A uniform, comprehensive training program is a must. The financial system is the heart and soul of any enterprise, so pay extra attention to this aspect of the business. A solid finance system incorporating best practices will help you and your franchisees monitor the health and long-term viability of the business, and solve future problems in the future.  Dependability and facility of service are two backbones any business should have, especially if you plan to spread your concept to a wider marketplace. Establish a cohesive and well-structured logistics and distribution scheme.

2.  Choose the right franchise partner!

In the Philippines there exist a saying  referring to married couple’s relation as “hindi yan parang kanin na isusubo na kapag napaso ay iluluwa”, which translates that entering into a relationship is not as easy as eating rice that if its hot you could just spit it.  Well, choosing a franchise partner is basically same as choosing a life-time partner.  In the Philippines , the average franchise agreement term is between five and 15 years. If choosing the right franchise is difficult enough, then choosing the right franchisee for franchisors is another aspect that needs a careful study. Remember that even if you have the right business model and formula if you do not have the good franchisee to spread and do the job. For the success of any franchise business also depends on the  performance of the franchisee acquiring it.  A thorough background of the education, work experience, personality and credit history of your possible applicant is a must!  Ask them to make a letter of intent to see their motivations and passion.  Do they have the drive and the stamina to do it?  You need to undergo a series of interview and sessions to get to know them better.

3.  Top Franchising Ideas

Despite the economic difficulty, Filipino franchise companies are among the more optimistic and the more robust sectors in the local landscape, the country credited with the most number of original franchise ideas—close to 700—in the world.  The top franchising sectors are:

Homegrown Franchise Food Cart: Taho Boy

Food and Retail

Economist are optimist on the continued growth of the food franchising business in the Philippines.  In the country where people eat more than three times a day, there is no doubt that this tops the industry.  The country has seen —several new brands  taking center stage, paving the way for upstarts to try and make their mark in the food scene. Filipino consumers are seen to increasingly favor health alternatives  like tea and yogurt, and Filipino food (the huge success of Mang Inasal is a very good example). The retail sector, on the other hand, is expected to expand this year because of the increasing demand for convenience shopping within business centers and residential villages. More and more consumers now go to convenience stores to pay their bills, buy medicines and groceries, get quick meals and buy mobile phone credit.

Services

This sector will continue to offer a lot of opportunities this year, from educational centers, lying-in clinics to training for becoming a pop star.  Middle class families will definitely demand for pre-school learning centers in their neighborhood.  Review center and call centers to name a few.

Beauty, Health and Wellness

The recent financial crisis proved the strength of yet another segment of the country’s SMEs: the beauty, health and wellness sector. This sector has the potential to grow even more this year because more and more people would want to feel good about themselves in order to avoid costly medical treatment and care.

For more franchising ideas check the business ideas chapter.

]]> http://www.in-the-philippines.com/franchising-in-the-philippines-2/feed 1 http://www.in-the-philippines.com/business-ideas-in-the-philippines http://www.in-the-philippines.com/business-ideas-in-the-philippines#comments Wed, 13 Apr 2011 04:25:07 +0000 admin http://www.in-the-philippines.com/?p=403 “An idea that is developed and put into action is more important than an idea that exists only as an idea.” -Buddha

Small businesses has always been the backbone of  Philippines economy.  If you’re interested in starting your own business  or If you already run a business or you want to buy into a proven business opportunity (aka a franchise), you’ll find some useful business ideas here to fuel that drive in you!

Business Ideas

Small Business Ideas

When you need from zero to small capital these ideas are perfect for you:

1.    Consultancy business

2.    Tutorial and Review Center

3.    Web-designer/ Web Developer

4.   Tour Guiding Business

5.   Tour Operator (arranging and packaging local tours)

6.   Merchandising Bangus Products

7.  Fashion Consultant/Adviser

Home- based Business Ideas

Businesses that you can start at home:

1.   Bookkeeping Business

2.  Web designing Business

3.   Web Developing Business

4.   Blogging

5.  Baked Goodies

6.  Merchandising Bangus Products

7.  Merchandising Beauty and Health Care Products

Online Business Ideas

1.  Blogging

2.  Web Designing

3.  Web Developing

4.  Online Store

Franchising Business Ideas

1.  Water Refilling Station

2.  Stir-fried noodles

3.  Fruit juices & Fruit shakes (Healthy Juice Bar)

4.  Cupcakes

5.  Wellness and Spa Resort

6.   Customer Service/ Call Center

7. Theme Restaurants

Food Business Basics:  FAQs on getting started

Where do I get food business ideas to start with? The simplest, the cheapest and fastest source to get idea for your food business entity is through internet.  You can already start by gathering food concept and trends abroad that has a big potential to hit big in the Philippines.  Once you have narrowed down your list you can follow it up by travelling in the Philippines or abroad (if you have the budget).  Take as much pictures as possible which will prove to be useful in the future to document your research. You can also read magazines and interview people in the industry for more information.

From these food ideas, how do I choose the best? Look for the competitive advantage of the food product or food service that you will be employing. Is the product comparable to existing ones? What’s its edge over the other? Or are you choosing a totally novelty item. You might not encounter competitor but might spend a lot of money in marketing it. Bottomline is, weigh things out and choose the best idea without forgetting the importance of knowing the marketability of the product, availability of the ingredients and the skills of the people that will be eventually employed.

Where is the best spot for my food business? This is a very important aspect of your business. Remember that no matter how good your food is it needs to be near the market you are targetting. It doesn’t necessarily mean that if it is located in a big shopping mall you’ll be successful. Although there is a sure traffic of people, competition is in general very stiff and it incurs an expensive monthly rental. In food businesses there are cases of success stories of certain restaurants’ inhabitual location: hidden, hard to find that puts the mystery to the customers.

Eating Preferences & Habits

Food dominates the life of the Filipino. People here just love to eat. There are eight official meals are called,in order: breakfast, snacks, lunch, merienda, pica-pica, pulutan, dinner.  Filipino meals is never complete without eating rice although there are more and more people keen to eating like the Westerners burgers, sandwiches and pasta, the important place of rice is still irreplaceable.

Sweet taste of love.  And when it comes to taste, if other Asian countries prefer it spicy Filipinos love it sweeter.  They always have a knack for something sweeter: Filipino sweet style spaghetti (not soury taste like the Italian one but with the sweetness of banana ketchup), Pork or Chicken Barbeque is marinated in soysauce, sugar, ketchup.  And of course the sweeter the taste the better.

Food Business Ideas

Here are some ideas to inspire you if you are thinking of embarking in the food  industry. More business ideas are discussed on a separate business idea chapter.

1.  Home Baked Goodies

2.  Desserts on-line

3.  Merchandising Bangus Products

4.  Gourmet Filipino Delicacy (Tuyo Puttanesca, Tinapa in olive oil, etc)

5.  Merchandising Different Sauces

6.  Sisig Kiosk

7.  Buy one take one Burger

Food Trends in the Philippines

International Franchised Food Concepts & Food Kiosk

Undeniably the major food trends in the Philippines are international franchised food concepts and food cart or kiosk  businesses.  It has always been a sure hit in the Philippines when a popular food establishment abroad is brought in in the country. From donuts, coffee, burger to frozen yogurt.  The international brands like Krispy Kreme, Starbucks, White Hat to name a few.  Interestingly, the flourishing food cart/kiosk is apparent everywhere.  The reason for this could be accounted for the facility of putting it up.  There are food kiosk package that cost at least 25 thousand pesos and you can already start your business.  There are normally located where there are a great traffic of people.

It is trendy to eat….

The following products are what we could consider that’s creating a big buzz in the country:  hamburgers, siomai, frozen yogurt, take out noodles, scramble, sisig and chicken barbeque.  Despite that Filipinos are known rice eater, hamburgers are still widely consumed everywhere.  Recently we have seen the popularity of these young brands: Burger Project, Crave Burger, Brothers Burger or its cheaper buy one take counterpart the Angel Burgers.  On the otherhand Siomai, scramble and stir-fried noodles still remain a popular food product for the masses.  Cheaper but with good packaging this time! This year’s home-run success still remains to be the chicken barbeque.  The successful story of Mang Inasal from  its humble beginning ending up being both by Jollibee with a colossal price of  3 billion pesos.

Healthy and Green

The future of Philippine food industry is going towards much healthier options and menu.  There is a growing popularity of healthy or vegetarian restaurants all with the idea of pushing people to eat healthier. There  exist right now self acclaimed “green chef” like Chef Claude of Bale Dutung or Chef Sau del Rosario both which uses local and organic ingredients with the thrust of promoting sustainable and organic cuisine.

Latest food trends in the Philippines

]]> http://www.in-the-philippines.com/food-business-in-the-philippinesi/feed 0 http://www.in-the-philippines.com/procedure-putting-up-a-business-in-the-philippines http://www.in-the-philippines.com/procedure-putting-up-a-business-in-the-philippines#comments Tue, 12 Apr 2011 08:59:55 +0000 admin http://www.in-the-philippines.com/?p=368 Should I start my own business?  Have you ever asked yourself this question before?  It may not be surprising that  nowadays there are growing number of Filipinos interested in starting up their own business.  More and more people are leaving their 8 to 5 hour routinary work in exchange for the adventure of starting their own. So many among us have the desire to be their own boss .  After all there are joys of being your own boss.  Others on the otherhand are tempted to create their own in quest of ending up a millionaire after hearing numerous success stories of businesses that started small. So if you have an idea and you think it’s worth it or probably have an idea but still skeptical to embark in this adventure, take note of the following step by step procedure in creating your own business:

Starting your own business!

In putting up your own business you have two options, you either choose to get a Franchise of an existing successful company or creating your own from scratch. Whatever your choice is, the same procedure applies on its basic procedures.  Additional information on Franchising is discussed on franchising chapter.

1.  First, start by deciding which business form is applicable to you;

Single Propertorship, when you are the sole owner and the sole responsible of the business. It simpler and easier to put up but it could have it’s own disadvantages too.  This means that you and your personal assets  are liable when problem arises in the future.

Partnership, when there are two owners of the business.  Like the single propertorship it has its own advantage and disadvantages too.

Corporation, is an entity of three or more people with common interest , a form employed to protect the personal assests of the shareholders from debt. Where its only the company and its asets are the only one liable when problem arises.

For  both Single and Partnership, the procedure starts by going to the DTI (Department of Trade and Industry) office nearest your domicile for the business name registration. This is the most crucial part of your business as the name of your business is something that will make or break your concept.  DTI have recently made strict rules on registering your names: it should not be a common name or a business name that sounds like an existing one  as to avoid confusion. Additional   guidelines on this is written on your application form.  You need to have at least three possible names on my mind, meaning if the first one  exist already you still have the two others as option.  Next you will be ask on the scope of your business name registration: within baranggay, city, region or nationwide.  And the amount of your payment will depend on its scope.  If you have no time to go to their nearest office for this you can do this procedure  entirely online.

For the corporation form on the otherhand, it is the Securities and Exchange Commission (SEC) located along EDSA in front of EDSA Shrine and POEA (Philippine Overseas and Employment Agency) one must go.  To facilitate your task try to reserve the name of your corporation online .  You can reserve the name for at least one month or up to three months.  After reserving it online, print this proof and go to the SEC office at the ground floor directly at the cashier for payment.  You will be paying 40 pesos per stamp which represents the number of months you are reserving the name.  Do not think that one month is enough to process your application.  It is advisable to pay for at least three months.  But if you think one month is enough, no worries for you can always extend it. A much detailed step by step procedures on creating a corporation is discussed in the creation of corporation chapter.

2.  Get the Baranggay Clearance.

Again the facility of getting your barangay clearance normally depends on the baranggay where you will be operating your business.  Sometimes a simple photocopy of your DTI business name registration or SEC Registration is the sole requirement while others could entail a visit of  the site of your proposed business to see the veracity of  why they ney to issue a clearance.  Some may also require a general insurance policy for your business like in some barangays in Makati.  Nonetheless, go there directly and ask for the requirements.

3.  Get the Mayor’s Permit

With the decentralisation of the issuance of the business permit it is the local city where we will be operating that we go to get a permit.  Again this phase depends on what type of business you will be operating and the city you will be doing your business.  Restaurants and all the other business that hygiene is necessary a Sanitary permit is also required.  In Quezon City for example , the owner and all employees are  required to undergo seminar on handling of food and an additional AIDS seminar before your Sanitary Permit ID is issued.  There are also medical and laboratory exams demanded to be sure that you are fit to do this kind of business.  Again this depends on the business and the are you will be doing your business.  Be informed to avoid unnecessary hassle along the way.  In getting the mayor’s permit for your business the usual requirements are as follows: Locational Clearance (an approval that there has been no renovation done on the location of the future business), Barangay Clearance, DTI Business Registration  or SEC Registration, Proof of ownership of the land/Contract of Lease that are duly notarized, Occupancy Permit (Ask a copfy from your landlord), Third Party Liability Insurance .  Again you may have additional requirements depending on the city you will be operating.

4.  Obtain a Fire Clearance

Go to the Bureau of Fire Protection nearest to your business address for the Fire Clearance.  Be warned that you might encounter red tape/corruption in getting this clearance.  Depending on your business you might be needing installation of emergency light/s and fire extinguisher on your establishment.

5. Go to the BIR (Bureau of Internal Revenue)

For registration of your  value added tax (VAT) or NON VAT business go to the Bureau of Internal Revenue (BIR). assigned to the area where you will be operating.  Timeline is two (2) days and the cost is Php550 – Php1,000 which includes registration fee + certification fee + documentary stamp tax. You will also be needing an authority to print receipt or invoices depending your business.  Get an application for registration (BIR Forms No. 1901 or 1903),  original form or photocopy of TIN card; and (5)Proof of payment of annual registration fee (BIR Form No. 0605). This part could take about 1 to 2 weeks.

6.  Get SSS and Philhealth Card

The SSS (Social Security Services) card has no cost but you have to wait seven  days for processing. To register with the SSS the company must submit the following documents – (1)Employer registration form (Form R-1); (2) Employment report (Form R-1A); (3) List of employees, specifying their birth dates, positions, monthly salary and date of employment; and (4) Articles of incorporation, bylaws and SEC registration or the certificate of registration with the Department of Trade and Industry (DTI). The employees may attend a SSS training seminar after registration. SSS prefers that all members go through such training so that each member is aware of their rights and obligations. To register with PhilHealth, the company must submit the following documents – (1) Employer data record (Form ER1); (2) Report of employee-members (Form ER2); (3) SEC registration; (4)BIR registration; and (5) Copy of business permit. It takes about three months for the release of this card.

]]> http://www.in-the-philippines.com/procedure-putting-up-a-business-in-the-philippines/feed 1 http://www.in-the-philippines.com/doing-business-in-the-philippines http://www.in-the-philippines.com/doing-business-in-the-philippines#comments Mon, 11 Apr 2011 08:44:24 +0000 admin http://www.in-the-philippines.com/?p=360 More and more Filipinos and foreigners alike are showing great interest in engaging in their own businesses in the Philippines as manifested in the growing numbers of local and foreign companies established every year.  The Philippines with its’ strategic location in Asia, its’ good foreign relation abroad and where english is widely spoken makes this country a competitive place to open up a business.  In principle anyone, regardless of sex, religion or nationality is free to engage in a business in the Philippines.  And with the liberalization of the foreign investment law, 100% foreign equity may be allowed in all areas of investment except those reserved for Filipinos by mandate of the Philippine Constitution and existing laws.

Putting up a business is as easy as ABC if you know the procedure beforehand but could also be a nightmare if you lack the necessary information.  Gone are the days that we pay an errand boy/girl to take care of the hassles of putting up your businesses.  The government is slowly modernizing as it tries to improve its services along the way. There are some phases of the procedure that can be done under the click of your fingertips.  And if you are lucky (depending on the city that you are putting up your business) gettingthe necessary requirements could just be a one-stop deal. But nonetheless expect still to encounter fixers and problems.  After all they are all part of this adventure.

The procedure in putting up a business will be discussed into two categories: local business and foreign business.

Famous local and international companies in the Philippines

Jollibee is one of the biggest example of this Filipino franchising success story that beat up almost all its international food chain competitors.  Although getting a franchise of Jollibee costs a lot of money nowadays there are hundreds of other affordable franchise opportunities we could try on.

The advantages of doing Franchise business is that you will never feel alone.  Embarking on a business has always been difficult, but with Franchising, the package always includes the marketing package support, management training and the best of it all, you will be selling something who’s name is already known to many.  However, franchising does not always guarantee success and it sometimes requires a lot of money depending on the franchise you are planning to open.

Starting a franchising business in the Philippines requires still a thorough study.  Learn more about the franchise business that you want to invest.  Be sure to know and understand very well the inclusion of the franchise package deal to avoid getting frustrated in the long run.  And the most important be ready to invest yourself to the success of this endeavor.

Franchising Opportunities

Franchsising opportunities in the Philippines has grown drastically.  It opened wider choice from food industry, schools, internet business, clothing lines among others.  Choose the most credible franchise company that shows passion in the product they are selling.

The Department of Trade and Industry are regularly organizing seminars to help interested entrepreneurs to widen their horizon.

Useful Directory:

franchisephilippines.org/listings/

A directory of franchise opportunities in Philippines updated regularly.

phfranchise.com/

Shows listing of franchise opportunities also updated regularly.

jollibee.com.ph/index.php?/investors/contents/11/6

Informations for franchising Jollibee

For more information on Franchising inthe Philippines check Franchising 101

1. Sole Proprietorship – is a business structure owned by an individual who has full control/authority of its own and owns all the assets, personally owes and answers all liabilities or suffers all losses but enjoys all the profits to the exclusion of others. A sole proprietorship must apply for a business name and be registered with the Department of Trade and Industry- National Capital Region (DTI-NCR). In the provinces, application may be filed with the extension offices of the DTI.
2. Partnership- Under the Civil Code of the Philippines, a partnership is treated as juridical person, having a separate legal personality from that of its members. Partnerships may either be general partnerships, where the partners have unlimited liability for the debts and obligation of the partnership, or limited partnerships, where one or more general partners have unlimited liability and the limited partners have liability only up to the amount of their capital contributions. It consists of two (2) or more partners. A partnership with more than three thousand pesos (P3,000.00) capital must register with Securities and Exchange Commission (SEC).
3. Corporation- are juridical persons established under the Corporation Code and regulated by the Securities and Exchange Commission with a personality separate and distinct from that of its stockholders. The liability of the shareholders of a corporation is limited to the amount of their share capital. It consists of at least five (5) to fifteen (15) incorporators each of whom must hold at least one share and must be registered with the Securities and Exchange Commission (SEC). Minimum paid up capital: five thousand pesos (P5,000.00). A corporation can either be stock or non-stock company regardless of nationality. Such company, if 60% Filipino-40% foreign-owned, is considered a Filipino corporation; If more than 40% foreign-owned, it is considered a domestic foreign- owned corporation.

1. Branch Office – is a foreign corporation organized and existing under foreign laws that carries out business activities of the head office and derives income from the host country. It is required to put up a minimum paid up capital of US$200,000.00, which can be reduced to US$100,000.00 if (a) activity involves advanced technology, or (b) company employs at least 50 direct employees. Registration with the SEC is mandatory.
2. Representative Office - is a foreign corporation organized and existing under foreign laws. It does not derive income from the host country and is fully subsidized by its head office. It deals directly with clients of the parent company as it undertakes such activities as information dissemination, acts as a communication center and promotes company products, as well as quality control of products for export. It is required to have an initial minimum inward remittance in the amount of US$30,000.00 to cover its operating expenses and must be registered with SEC. Under RA 8756, any multinational company may establish an RHQ or ROHQ as long as they are existing under laws other than the Philippines, with branches, affiliates and subsidiaries in the Asia Pacific Region and other foreign markets.
3. Regional Headquarters (RHQs) – An RHQ undertakes activities that shall be limited to acting as supervisory, communication and coordinating center for its subsidiaries, affiliates and branches in the Asia-Pacific region. It acts as an administrative branch of a multinational company engaged in international trade. It does not derive income from sources within the Philippines and does not participate in any manner in the management of any subsidiary or branch office it might have in the Philippines. Required capital: US$50,000.00 annually to cover operating expenses.
4. Regional Operating Headquarters (ROHQs) – An ROHQ performs the following qualifying services to its affiliates, subsidiaries, and branches in the Philippines.

Starting up a business in the Philippines is easy depending on the type of the business entreprise that you would like to put up. Mostly Filipinos tend to begin with the single proprietorship as it is the easiest one to apply for. It requires fewer documents to be submitted.

The first step is to register the business name of your company, it would mean going to the Department of Trade and Industry in its  main office in Makati.  You will be required to write in a piece of a paper three chosen names for you company 1st priority, 2nd priority and third priority. It will be verified afterwards if the first chosen namen does not exist yet.  After this you may go on with the rest of the procedure.

The applicant should be at least eighteen years old. Sometimes they require a certificate from the Philippine National Police or from the National Bureau of Investigation in the area where you want to start your.

At the DTI get an application form, remember to bring two 2″ x 2″ identical color photos and sign them at the back. These photos should have been taken within one preceding year when you register a business in the Philippines.

Another document necessary register a business with a single owner is to present proof of citizenship. If your surname or family name sounds foreign you may inspect your passport (bring it along, it might come in handy). If you register a business where you’ll be a practicing professional (medical doctor, accountant, lawyer etc.) you will be required to present a photocopy of your license from the Philippine Regulatory Commission.

If you want to register a business as a corporation we need to get a certificate of registration from the SEC (Securities and Exchange Commission). A minimum of five people is required to register a business as a corporation, the maximum would be fifteen (majority of these should be residents of the Philippines).

Bring the following to register a business at the SEC:

Your cover sheet
A name verification slip
Registration Data Sheet
Bank Certificate of Deposit for your Paid-up capital
Articles of Incorporation
Undertaking to Change Name
A Treasurer’s Affidavit
Your Corporate By-Laws
Endorsements/clearances from other government agencies
Proof of remittance by foreign corporate subscribers and for a corporation with Foreign Equity
Application Form F-100, for corporations with more than 40% foreign equity

If you want to register a business in the Philippines as a partnership you would also have to go to the SEC. There should at least be two applicants. Majority of the partners should be residents of the Philippines. A partnership in Philippine law is where business partners “contribute money, property, or industry to a common fund with the intention of dividing the profits” among themselves.

Here’s a list of items you should bring to the SEC.

A Cover sheet
A Name verification slip
Your Articles of Partnership
A Registration Data Sheet
Endorsements/clearances from other government agencies
Application Form F-105 (For partnerships with Foreign Partners)
Bank Certificate on the capital contribution of the partners
Proof of Remittance of foreign partners

These are the items you need to bring with you when you register a business in the Philippines. Remember to bring every single item along so you don’t waste time going back and forth.