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The ultimate checklist

10 basic requirements for setting up a business
By Louise M. Francisco |

We bring you the ultimate checklist of basic requirements for setting up a business :

1.    Legal documents
2.    Mayor’s Permit
3.    DTI Registration of  Company Name
4.    DTI / SEC Documents
5.    Building Permit (if needed)
6.    SSS / Philhealth /
7.    Pag-IBIG registrations
8.    Business plan
9.    Required capital
10.    Entrepreneurial skills

And the entrepreneur has to pay attention to the following issues:

The external environment
• The dynamics of the country’s economic indicators, such as inflation and GNP (gross national product), affect consumers’ disposition to buy.
• The degree of competition in the sector determines your market positioning.
• A good set of suppliers will determine how you could get resources at least cost.
• You need to pay close attention to daily operations to control costs.

The internal environment
• Concrete operational and functional policies should be consistently observed to avoid conflicts in decision-making and delivery of tasks.

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