kinds and legal forms of business

C V C I T CCagayan Valley Computer & Information Technology College, Inc.

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BUSINESS IN GENERAL AND NATURE AND CONCEPT OF

MANAGEMENT

CLIENT WILLIAM M. MALINAO


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During and at the end of the session, students will be able to:• Identify different kind of Business• Explain the legal forms of Business Ownership;• Illustrate the Procedures on how to Register Business

Enterprise; anda• Realize the benefits of a registered enterprise.


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• INDUSTRY• COMMERCE• SERVICES

KINDS OF BUSINESS


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INDUSTRY• Primarily concerned with production, application of labor upon the use of materials so that greater usefulness becomes possible after processing.

EXTRACTIVE MANUFACTURING


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EXTRACTIVE INDUSTRY


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MANUFACTURING INDUSTRY


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COMMERCE • Process of buying and selling where the goods are moved from the point of production to the point of consumption.


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EXAMPLES


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E-COMMERCE


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SERVICESERVICE

• Primarily concerned with the satisfaction of the needs and wants of the consumers.

• The occupation or function of serving.


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PUBLIC AND COMMUNITY

SERVICE

PROFESSIONAL OR TRADE SERVICE

• Law Offices• CPA’s• Repair shops• Hospitals

• Transportation Companies

• Communication Companies

• News Publishers• MERALCO


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LEGAL FORMS OF BUSINESS


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• Easy to form and dissolve

• All profits to the owner• Owner is the Boss• Tax advantage and

lesser Government regulation

• Unlimited liability• Lack of stability• Limited access to credit

• Limited business knowledge and skills


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• Easy to organize• More Capital and Credit

• Partners get all profits

• More knowledge and skills

• Unlimited liability• Lack of stability• Management disagreement

• Idle investment


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• Limited liability• Easy to raise capital

• Perpetual life• Specialized Management

• Difficult to Organize• Strictly regulated by

Gov.• Some are socially

irresponsible• Impersonal employee-

employer relationship


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RA 9520PHILIPPINE COOPERATIVE CODE OF 2008


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PRINCIPLES• Open and Voluntary Membership• Democratic Control • Member Economic Participation• Autonomy and Independence• Education, Training and Information• Cooperation among Cooperatives


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REGISTERING BUSINESS• To establish the legal personality of the Business

• To obtain (PTO) permit to Operate• To comply with the requirements of special regulatory or promotional programs of the Government


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AGENCIES

SOLEPARTNERSHIP/CORPORATIONS COOPERATIVES


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KEY AREAS IN IMPLEMENTING THE PROGRAMS


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SEQUENCE OF REGISTERING• DTI and BTRCP

• LGU• BARANGAY• BIR• SSS• DOLE• HDMF

• PHILHEALTH

• SEC/CDA• LGU

• BARABNGAY• BIR• SSS• DOLE

HDMFPHILHEALTH


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RA 3883November 14, 1931

BUSINESS NAMES LAW

-No two (2) business would have the same or similar names


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WHY????• Getting on Record• Legal Liability protection• Continuity• Getting Loan• Reputation with Customers• Supplier Arrangements• Hiring Employees


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READY????