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How to Set Up a Sole Proprietor Business in the Philippines (Part 1)

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Nowadays a lot of SMEs are sprouting like mushrooms in the age of the Millennials. People are more aware of what business they want to engage themselves with. And with the recent economic growth, more and more people are enticed to set up a Sole Proprietorship.

What is a Sole Proprietorship?

It’s a type of Business managed and owned by a Single Individual. There are other Business Types like Partnerships and Corporations. But for the ease of starting a new business with a modest capital, this is the best option.

What are the Pro’s and Con’s of a Sole Proprietorship?

Lets enumerate some of the Pro’s and Con’s

Pro’s
Less Fuss in Set up and registration. Other Business Types can require you to register with the SEC as part of Business Regulation and Control. Sole Proprietorships don’t include this process.Capital Requirements are minimal. Same goes with cost related to Government permits and licenses.Decision making and profits are enjoyed by a Single Individual.Con’s
All Liabilities, Losses…

How to Set Up a Sole Proprietor Business in the Philippines (Part 2)

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In the second part of our preview in setting up a sole proprietor business in the Philippines, our guest writer continues with the processes involved while providing us with some important notes and tips.

Make sure that before applying for these Certifications you already have at least two Valid ID’s. (e.g. Passport, SSS, PRC ID’s etc.). They are usually required when filling up the forms.

After applying for the BIR Certificate of Registration, you need to apply immediately from the BIR an Authority to Print some Official Receipts and Invoices to be used for your operations.

These Receipts and Invoices are valid only for use for a certain number of years and should the period lapse, a new set of Receipts and Invoices must be printed.

Below are the types of receipts that should be registered with the BIR before commencing operations:
Provisional Receipt when collection is only partial. Official Receipt must be issued after issuance of Provisional Receipt after final collection of a …

The Fast, The Furious, and The Duel Commander Super Series

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The excitement building up for the Philippines Duel Commander Super Series has finally reached the South through its 3rd leg at Madcap Gaming. Duel Commander enthusiasts, fans, and hard-core players from all over flocked the scene hoping to bag a Top 4 finish and enter the finals for the Super Series. We witnessed great plays, new tech, and even greater fun and camaraderie all around. From Round 1 through the end, the event was definitely a rousing success.

WWF turns Tweets to Donations with #EndangeredEmoji Social Campaign

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Today WWF launches its first ever emoji-based fundraising campaign to help support the organisation’s work to protect precious species and their habitats. The launch of the campaign, which will be run on Twitter, comes just ahead of Endangered Species Day on Friday 15 May.

Magic: The Gathering Announces Magic Origins

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Wizards of the Coast announced today Magic Origins, a new Magic: The Gathering set releasing this July. This pivotal new set reveals the origin stories of five of Magic's most beloved Planeswalker characters.

Earth Hour 2015 Countdown Begins, Marked by Launch Of High Impact Video

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FL Philippines -Earth Hour Celebrations - By Gregg Yan WWF EH2015 Global (Earth Hour)
As nations and individuals around the globe gear up to participate in the world’s largest grassroots environmental movement, WWF’s Earth Hour kickstarted the countdown to the 2015 event with the release of the official campaign video today. Set to the international hit song ‘Pompeii’ by British rock band Bastille, the two-minute video demonstrates how Earth Hour is empowering individuals and organisations around the world to take action on climate change.

Metascreen, a guard against ‘sudden death’

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Nearly one baby every hour each day dies abruptly. An estimated 7,000 babies die each year without warning.i

Parents are left clueless after the death as the possible causes remain unknown even after undergoing autopsy. All because of the Sudden Infant Death Syndrome (SIDS).