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    Module 5 Contemporary Economic Issues Facing The Filipino Entrepreneur

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    Alvin Orosco
    This document discusses contemporary economic issues facing Filipino entrepreneurs. It outlines the registration process for different business structures like sole proprietorships and corporations. It also explains key challenges like obtaining financing due to interest rates, paying rent, complying with minimum wage laws, and dealing with taxes which can reduce profits. Disruptive innovation is defined as changing existing markets. The Department of Trade and Industry governs entrepreneurs and business in the Philippines.

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    © All Rights Reserved
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    Module 5 Contemporary Economic Issues Facing The Filipino Entrepreneur

    Uploaded by

    Alvin Orosco
    44 views16 pages
    This document discusses contemporary economic issues facing Filipino entrepreneurs. It outlines the registration process for different business structures like sole proprietorships and corporations. It also explains key challenges like obtaining financing due to interest rates, paying rent, complying with minimum wage laws, and dealing with taxes which can reduce profits. Disruptive innovation is defined as changing existing markets. The Department of Trade and Industry governs entrepreneurs and business in the Philippines.

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    Module_5_Contemporary_Economic_Issues_Facing_the_Filipino_Entrepreneur

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    This document discusses contemporary economic issues facing Filipino entrepreneurs. It outlines the registration process for different business structures like sole proprietorships and corporations. It also explains key challenges like obtaining financing due to interest rates, paying rent, complying with minimum wage laws, and dealing with taxes which can reduce profits. Disruptive innovation is defined as changing existing markets. The Department of Trade and Industry governs entrepreneurs and business in the Philippines.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    44 views16 pages

    Module 5 Contemporary Economic Issues Facing The Filipino Entrepreneur

    Uploaded by

    Alvin Orosco
    This document discusses contemporary economic issues facing Filipino entrepreneurs. It outlines the registration process for different business structures like sole proprietorships and corporations. It also explains key challenges like obtaining financing due to interest rates, paying rent, complying with minimum wage laws, and dealing with taxes which can reduce profits. Disruptive innovation is defined as changing existing markets. The Department of Trade and Industry governs entrepreneurs and business in the Philippines.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16

    UNIT 1 – ECONOMICS & REAL-WORLD CHALLENGES

    APPLIED
    ECONOMICS
    MODULE 5: Contemporary Economic
    Issues Facing the Filipino
    Entrepreneur
    What is
    Entrepreneurship
    Innovation
    Strategies of
    Entrepreneur
    Disruptive Innovation
    Defined as a process that, as
    the name implies, “disrupts”
    or changes the structure of an
    existing market.
    Governance and Support
    The Department of Trade
    and Industry (DTI)
    governs entrepreneurs
    and business in the
    Philippines.
    Types of Business
    Structures
    •Sole Proprietorship
    •Partnership
    •Corporation
    Sole Proprietorship
    Refers to a business having
    a single owner.
    Partnership
    Refers to a business
    having more than one
    owner.
    Corporations
    Refers to a business type
    where the owner and the
    business are considered as
    separate entities.
    New Business Registration
    A sole proprietorship business
    registration has eight steps based on
    the published procedure on the
    national government’s Web site
    while a corporation on average
    takes 15 steps to register based on
    the Doing Business 2015 study if
    World Bank.
    1 DTI Register business name.

    2 Barangay Secure barangay clearance.

    3 Municipality Get a business permit.

    Apply for tax identification


    number (TIN); secure authority
    4 BIR
    to print receipts; have ledgers
    and invoices stamped.

    Apply as self-employed
    5 SSS
    owne.
    Issues and Challenges
    Facing the Filipino
    Entrepreneur
    In this section, you will learn
    some common issues and
    challenges faced by Filipino
    entrepreneurs.
    Investments, Interest, and
    Financing
    Interest is the cost of
    borrowing. Consumers
    typically borrow from banks
    to finance spending and
    investments such as real
    estate, cars, or other
    expensive purchases.
    Rent
    For business that require a
    physical store, rent is one of
    the highest costs that drive
    down operating income.
    Minimum Wage
    Operating expense is wages.
    Higher wage rates translate to
    lower profit because the
    companies have to pay workers
    more.
    Taxes
    Higher income tax means less
    disposable income available
    for the business.

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