The marketing aspect of the feasibility study is the area where the target audience is identified. The market study aims to determine the extent to which a product or service to be generated by a project is needed or demanded, and to design appropriate marketing plans and strategies for the project output. It is one of the most important factors in this study which includes the product planning, pricing distribution, advertising promotion and consumer service, which are all under marketing aspect.
This serves as the basis of the financial section through the projected demand. This aspect includes about demands, supply, demand and supply gap analysis, marketing program, and the projected sales. This is to determine the quantity of the product that can be sold at a certain price given the competitive situation.
Setting the objectives is an important part of the study; the proponents had classified the goal of marketing study into two: general and specific objectives.
Randomly selection of 400 respondents was made in this study. The respondents are basically living near the proposed location for the business – males, females, professionals and non-professionals alike. The sample size was determined as follows: n= N1+N e2
n = sample size
N = population of representatives from Valenzuela City
e = desired margin of error
n= 575,3561+575,356 (0.05)2
N = 399.72 or 400 Number of population of Valenzuela City representatives. Source: National Statistics Office (Number of population in Valenzuela City as of 2010)
“JAR ENTERPRISE: FaceLight Rice Facial Mask”
The owners decided to choose this name to emphasize that the business is engaged into production of beauty skin care product intended to facial use. The name of the company, JAR Enterprise, stands for the names of the three owners of the business. “J” stands for Joseph Diaz, “A” stands for Aaronjay Fabella and “R” for Richelle Zamora.
The owners thought of FaceLight to not confuse the market what the product is for. FaceLight because the product is basically for whitening and smoothening the skin specially on face. Rice Facial Mask means that rice is the basic ingredient in this product and this beauty product is a facial mask made up of rice.
The JAR in the logo stands for the initials of the first names of the owners, J for Joseph, A for Aaronjay and R for Richelle. The proponents chose the color green for it signifies the environment, youthful and lively. Green symbolizes the nature. Natural things which give your mind comfort like grass, fertility is in green. Balanced personalities prefer green. Green also shows good health and fortune. Green typifies success, fertility, growth, endurance, freshness, nature, immortality, environment, good luck, youthfulness, safety, contemplation, joyfulness, hope, dependability, friendliness etc. Companies often use green for food and health products. Green can represent healthiness, plentifulness and dedication. Black as its font color symbolizes elegance, power, sophistication.
The rice grain in the picture represents our products are made up of rice. And the circle means eternity, continuity and protection. As the business grow, we continue to produce quality beauty products and commit ourselves to protect the environment.
Facial masks have been used as cosmetic treatments since ancient times to help nourish and rejuvenate the skin. The business will provide the needs of each and every people especially those who want to improve, rejuvenate, whiten and soften their skin.
JAR Enterprise FaceLight Rice Facial Mask is an enterprise that can bring back the glow in everyone’s faces by using the facial mask made by the company. JAR Enterprise will manufacture facial masks called FaceLight made from all-natural raw materials. It will be processed without using any harmful chemical and additives that could harm humans and the environment as well. It is composed of the smoothening and sunscreen effect of rice blended with the bleaching effect of calamansi juice extract plus the healing aid of honey for acne and pimples added with the anti – aging benefit of vitamin E oil. FaceLight will be available in Valenzuela City. We at JAR Enterprise are proud to take initiative to create awareness about potential dangers of chemicals and provide an alternative which is commercially and environmentally viable.
The business will engage on mass production of facial mask.
The product is an exfoliating and complexion improvement mask to smoothen and brighten full and rough skin and help cure acne and pimples. A lot of people are very much into keeping their skin healthy by using face masks. It’s also a great way to feel like you’re being responsible about your skin. The property of the JAR Enterprise’s FaceLight Rice Facial Mask that makes it uniquely different from other facial masks in the market is the ingredients, that are carefully chosen, are all from our natural resources. In this study, the owners used rice flour, honey, vitamin E oil, calamansi juice extract.
The proposed rice facial mask business caters people who are into cleansing, exfoliating and who wants to improve their face’s complexion.
JAR Enterprise’s FaceLight Rice Facial Mask aims to lighten the skin color of the face, smoothen the skin, avoid appearance of pimples, remove dark spots caused by acne and eliminate stress and exhaustion of the customer, thereby preserving one’s beauty and ageless skin without applying products with chemicals on faces.
JAR Enterprise’s FaceLight Rice Facial Mask is perfect to bring back the glow to your skin. It helps prevent various types of face problems (i.e., oiliness, clogged pores, dark spots, rough and dry skin, acne, etc.) and protects face from direct sunlight. By using this product, revitalization of the skin’s glow would enhance beauty and boost energy and esteem.
JAR Enterprise’s FaceLight Rice Facial Mask is designed for the benefit of everyone from age eleven (11) and above – male, female, students, professionals and non-professionals alike. People who wants to improve their skin and wants to maintain their beauty would greatly benefit from this product.
JAR ENTERPRISE’s FaceLight Rice Facial Mask would cater a large percentage of its service in a space in MJAR Commercial Building along McArthur Highway, Valenzuela City, Metro Manila.
We first computed the sample size of the total population of the target market then we prepared questionnaires for the respondents and conducted the survey within the proposed vicinity. The proponents prepared nine (9) questions pertaining to facial mask, their reasons in purchasing facial mask and their willingness to try a new facial mask product made of rice.
The proponents’ respondents are the people residing near the proposed location – Valenzuela City. 1. Do you use facial masks?
Figure 2 Graphical Representation of respondents who uses facial mask
From the data gathered, 283 respondents use facial masks. And these 283 respondents are used in analyzing the demands for the product. 2. Gender?
Figure 3 Percentage of the respondent’s gender.
From the 283 respondents who use facial masks, 28.25% are male and 71.75% are female.
Figure 4 Percentage of target market’s age
From the 283 respondents who uses facial cleanser masks, a large percent of 78% are in the age bracket of 18 – 22 years old. At this age, people are getting more conscious about their facial complexion and more meticulous about the products they ought to buy for improvement of skin.
4. Reason for using facial masks
Figure 5 Graphical representation of the percentage of target market’s reason in using facial mask.
Pimple is the main reason why 46.34% of these 283 respondents use facial masks. As pertaining to the benefits of our ingredients, the product will help cure facial problems like pimples. So, our product is helpful in solving almost all facial problems.
5. How do you search or receive information of facial masks?
Figure 6 Graphical representation of the percentage on how the target market get information about facial mask.
According to the 283 respondents who are using facial masks, advertisements from newspapers and magazines are an effective source of information for the respondents in buying facial masks.
6. Which of following will you consider when you buy the mask?
Figure 7 Graphical representation of the percentage on what the target market consider in choosing facial mask.
Out of 283 respondents, 73 respondents are after the quality of facial masks next is price.
7. After searching process, which mask(s) would you like to buy?
Figure 8 Graphical representation of the percentage on what facial mask would be bought by the target market.
Dove is the first choice of our 283 respondents in facial masks products. 8. Would you like to try a facial mask made up of rice?
Figure 9 Graphical representation of the percentage on the willingness of the target market to use facial mask made of rice. 272 respondents out of 283 respondents are willing to try the product – facial mask – that is made up of rice.
9. How much would you like to spend for a facial mask?
Figure 10 Graphical representation of the percentage on the target market’s budget in spending for facial masks.
Prices that range between P81.00 to P150.00 are the price of facial masks
that our 283 respondents usually buy.
The demand for facial mask is derived by multiplying the demand rate gained from the survey, the population in the chosen place of distribution and the number of usage per year. The probability shown in the table was got from the conducted survey which is 70.75% (0.7075) of the total population of the potential market of the business in Valenzuela City. The proponents multiplied the population in Valenzuela City and the probability to get the actual demand annually.
Figure 11Graphical representation of the Historical Value of Demand
The table shown below is the projected quantity demand from the year 2013 to ten (10) years after which is 2023.
Statistical Straight Line Method
There are no direct competitors near the proposed business location. But there are indirect competitors like several shops that are also offering different kinds of facial masks.
Table 5 Historical Values of Supply (2013 – 2023)
The table above shows the Historical Values of Supply annually. It is the product of population (yearly), market who uses facial mask and those who are willing to try rice facial mask.
Figure 13 Graphical representation of Quantity Supply for the year 2003-2012.
The above graph is the projection of yearly historical supply from year 2003-2013. The historical supply is increasing per year.
Table 6 Computation For The Standard Deviation Of Projected Values Of Supply
The above table shows the computation for the standard deviation of projected values of supply for the present year 2013 to 2023.
Statistical Straight Line Method
Using Statistical Parabolic Projection Method
Yc = a + bx + cx2
b = 3,603.93
c = 46.70
Gap = ( 2,306,871.82 ÷ 6,067,517.83 ) X 100
Gap = 38.02%
Sales forecast is shown. The demand-supply gap is multiplied to the age percentage (78%) to get the captured market and from there sales forecast annually resulted by multiplying the price with the number of captured market. From sales forecast, we can get the quantity to be produced by dividing the average daily sales by the price of the product.
Price is the most important element in the marketing mix because of its direct impact on the customers, in the company and in the economy. The proponents used Skimming strategy for this price study. It is selling the product at a high price, sacrificing high sales to gain high profit, therefore “skimming” the market. This kind of strategy is often used to target “early adopters” of a product. These early adopters are relatively less price-sensitive because either their need for the product is more than others or they understand the value of the product better than others.
As observed in the conducted survey, price is a noticeable factor – next to quality – affecting on why does customers buy facial masks. The proponents will start the price at 150.00 Php. The price was based on the prices of our competitors and the price that consumers most likely choose.
The population, based from the graph, is increasing every year from 2000 to 2010. This numbers are from National Statistics Office as of 2000 – 2010.
a. Strengths| * We have a new, innovative product * Our products have all – natural ingredients and no preservatives * Our product is effective and has no side effects, new, economical & has cheap price * It is accessible to our target market * It is Eco-friendly|
b. Weaknesses| * The company lack marketing expertise * Our product is not yet known in the market * Less awareness|
c. Opportunities| * A developing market such as the Internet * Expansion, mergers, joint ventures or strategic alliances * Moving into new market segments that offer improved profits * Our competitors might be too slow to adopt new technologies * Innovating existing product * Fast growing market for healthier and naturally grown fruits with environment friendly production and packaging technology.|
d. Threats| * Price wars with competitors * Much established indirect competitors * A competitor has a new, innovative product or service & superior access to channels of distribution|
Clinique Turnaround 15 min Facial Mask (Php 500.00)
Whitening Facial Mask (Php 320.00)
BFAD APPROVED WHOLESALE Facial MAsk & Facial Creams (Php 999.00)
The area to be covered for the project feasibility study will be the McArthur Highway, Valenzuela City
Valenzuela is located at 14°40′58″N 120°58′1″E and is about 14 kilometres (8.7 mi) north of country’s capital, Manila. Manila Bay, the country’s top port for trade and industry is located about 16.3 kilometres (10.1 mi) west of the city. Valenzuela is bordered in the north by the town of Obando and the city of Meycauayan in Bulacan, the city of Navotas in the west, Malabon in the south and Quezon City and northern portion of Caloocan in the east. LOCATION OF THE BUSINESS
Figure 20 Location of the business
In this site will rise JAR Enterprise.
Figure 21 MJAR Commercial Building
The business location chosen is situated at 126 MJAR Commercial Building, McArthur Highway, Valenzuela City. The target market will cover whole Valenzuela City. Thus our product will be offered at different drugstores and supermarkets within Valenzuela City.
From the vague and unspecified details in McArthur Highway, Valenzuela City, searching for specific sites was conducted. Specific criteria are again established. * Space – it is the extent and the size of the site. It is stressed and is given consideration since such accounts the totality of the production and administrative area in which all machines and equipments are installed. Design of the store will accounts to the space provided. * Cost – cost is important to since in allocation of resources must be determined to minimize incurring expenditures. Cost is a burden for the business and that proper allocation and decision making for all incurring financial transaction is a challenge. Since site location is one of the many considerations for computing expenses, cost of the site must be carefully considered.
after selection, the next phase is the construction or the renovation phase. Although it’s an activity after the site selection, but depicts a lot of aspect to be considered further, such as construction is more costly than renovation because construction involves building the entire store as well as it entails longer time frame however the advantage is that since construction present buying the entire site, then ownership and non-repetitive of cost transpire. On the other hand, renovation cost is applicable for site that is for lease or for rent. The advantage would be minimal cost than construction and shorter time frame of accomplishing however repetitive of cost (rental cost) for every period may occur and ownership is uncertain.
It is essential for all business prior to establishing a store is to determine the competitors, the products and services they offer to the market, their selling strategy and who are their buyers.
Clients, often called as customers, are the recipients of goods and services the company proffers and in return a monetary value was given in exchange for every product and service rendered. Customer’s attitude, preferences, needs and wants must be carefully given an account in putting up a business, this is what marketing is all about. Selling is far different from marketing because the prior focuses upon the desires of the capitalist rather upon his potential customers.
The product is made with natural ingredients that were carefully chosen. Rice as the main component, added with honey, calamansi juice extract, vitamin E oil and baking soda. These ingredients are good for skin to tighten pores, soothen and whiten the skin. It is as effective as facial mask product that has chemicals on it. Every ingredient on this facial mask has its own properties that would help solve any problem on skin. Rice act as a natural sunscreen, Honey slows down aging and prevent wrinkles, Calamansi juice extract has an acti-bacterial property which helps in fighting acne, An additional benefit of vitamin E oil is it is a “universal cleanser,” because it is appropriate for all skin types, and the power of exfoliating by baking soda.
The product is made from high class ingredients that are purchased from trusted suppliers. The preparation of the facial mask is made in a very clean place and ensures that every product is of high quality. Utensils, equipments and machines used for production are maintained very well, always cleaned, and free from bacteria.
The facial mask will be packed in a glass bottle. The actual appearance of the packaging will be presented in the technical part of this study.
Advertising and promoting the product is the process of the owners to be used for the product to be known public. One of the several means of advertising that would be used by the sellers is print advertising, it is in which an advertisement is printed in paper, be it newspapers, magazines, newsletters, flyers, direct mail, or anything else that would be considered portable printable medium, the owners will distribute flyers to the customers and would print an ad on newspapers. Also, online advertising – an advertisement via Internet (World Wide Web) – it would be helpful for the sellers. The World Wide Web would be used to fully target the market as the selected segments are heavy and devoted users of the internet. Informing the consumers online would further push the information about the product and will induce interactivity and potential users. And the company will make a deal with shops selling skin care products and drug boutiques that are near the proposed location for the business – Valenzuela City.
Facebook – The selected customer segments are also users of Facebook. By cheaply advertising the product on Facebook, the users who wish to learn more about it or even “be a fan” of it, would be more engaged. In Facebook, it has a feature in which it can help you advertise your product or service which is an application called “Create an Ad”. In this feature, you would create a page about your product for the customers to see what you are selling, and you can create several advertisements and target based on location, demographics and interests. Also, you can post quality updates and promote your posts with ads to engage to your customers and their friends. (website: www.facebook.com)
Multiply Marketplace TM – it is one place on the Web for doing more with your media. Multiply Marketplace TM ‘s feature-set appeals to a growing number of individuals who are not only concerned with privacy issues surrounding mainstream social networks, but who also value content created by their real-world friends and family. Advertising with Multiply Marketplace TM offers an unduplicated opportunity for advertisers and their brands to interact with audience members in effectively unique ways. The Multiply
Marketplace™, one of the world’s largest online shopping malls, connects merchants with shoppers interested in all kinds of products and services, from clothing and jewelry to electronics and appliances. Store owners use Multiply as an easy and free way to open a shop, with unlimited storage for posting photos, videos and blogs about their products. Multiply’s social media tools allow shops to spread the word through their network of customers and fans, and help shoppers learn more about products and share their opinions and experiences with each other. In Multiply, buyers and sellers can connect and interact in a secure environment to share information and opinions about products and services. (website: www.multiply.com)
Sulit.com.ph – is an online marketplace for buyers and sellers. As a seller, you can post an advertisement about the product that you are selling, the service that you are offering, or the brand name of your business that you want to promote. Posting an ad is free of charge and takes only few minutes. With the high traffic that the website receives daily, you can guarantee a good exposure for your advertisements. As a buyer, you are free to look for an item that you want to buy, hire, rent, lease, or even swap for another item. Browse through the millions of advertisements posted on the site and get a really overwhelming variety of options.
AyosDito.ph – is a website for Filipinos to buy and sell online, no matter what region they are in the Philippines. It is all about making your online buy and sell experience as worry free and hassle free as possible. One that will make you say “Ayos talaga Dito!” Best of all, they sort buying and selling by region, province and city, so buyers and sellers can cut down on shipping expenses. People checking out this website can always find what they need at a location near them with no problems, no waiting time and all get the best possible deal. Print Advertisement
Fliers and leaflets
The distribution of flyers and leaflets will be done during its promotion week. It will help the company to teach the customers on certain information about the product. The leaflets contain the properties, advantages, costs, contact number for special orders, and other important information about the product. These leaflets will be distributed for one week every month in two (2) months and the weeks before Christmas and vacations every Saturdays and Sundays.
Tarpaulins will be placed all over the beauty and/or skin care section. The tarpaulin will be hanged on the ceiling of the market roads. Its size will be 2 x 5 feet. Partnership with shops and drug boutiques
The company will make a deal with shops selling beauty skin care products and drug boutiques near the proposed location for the business.
Integrated Marketing Communication
Advertising of this nature is required in highly competitive markets, where a range of products compete directly with each other. In such circumstances businesses often seek to differentiate their product through Comparison Advertising – either directly or indirectly comparing its product to that of its competitors.
For the pricing strategy, the proponents decided to use Price Skimming. It is pricing strategy in which a marketer sets relatively high price for a product or service to allow the firm to recover its sunk costs quickly before competition steps in. the proponents set the product introductory price to Php 100.00. Then on the second year, there will be a 10% increase on the succeeding years.
The starting price is based on the survey in which people tend to buy facial masks that price is ranging from Php 81 – Php 150.
The proponents chose a space at MJAR Commercial Building located at McArthur Highway, Valenzuela City to manufacture facial masks, put their products on display and sell it to consumers.
The aspect identifies whether the product could be produced at the highest possible quality level with minimum cost.
It deals with the kind of business and product that wants to establish. It specifies the product, the manufacturing processes, store location and lay out, and the equipments to be used, the size and cost of the building and its facilities, the raw materials to be used and labor requirement needed in the firm.
Rice Facial Mask is being introduced by JAR Enterprise to bring back the glow in everyone’s faces. It will be made out of uncooked rice, calamansi juice extract, honey, and Vitamin E oil. All ingredients used in making the product are common in the Philippines. The proponents chose this kind of product because it has a capability to improve skin complexion and can eliminate impurities and at the same time, the raw materials are not difficult to find because they are abundant in the Philippines.
All the components in the product have great benefits and are very helpful in solving skin problems on face. The product does not contain any kind of chemicals or preservatives because the proponents wanted to maintain the ingredient’s healing properties on skin naturally. Vitamin E oil, Honey and Calamansi act as natural preservatives and helps to prolong the shelf life of the product.
When all these ingredients combined, a facial mask will be made to help whiten, exfoliate, rejuvenate, soften and solve almost all types of skin problems.
Rice is a much-overlooked skin care product. Rice helps to smooth and soften skin, dissipating the appearance of fine lines and wrinkles, and evening out skin tone. It is also good for fighting blemishes.
Rice contains a high concentration of PABA (para aminobenzoic acid), a very good sunscreen. It contains two other sun protecting agents – ferulic acid and allantoin. Ferulic acid is an antioxidant. Scientists have found that when ferulic acid is added to Vitamin C and E, its sun protection ability doubled. Allantoin is a good anti-inflammatory agent. It soothes sunburns and also promotes the skin’s repair.
It is prepared by grinding the broken rice grains during milling. Rice flour helps to treat wrinkles, pigmentation and blemishes. When one tablespoon of rice flour is mixed with two tablespoons of yogurt (nonfat), it serves as homemade skin cleaning milk. It is an effective ingredient to clear the skin.
Honey has lots of enzymes that are like natural antibiotics. Honey is easily absorbed by the skin and has lots of antioxidants. Honey as a basic ingredient in a facial mask furnishes many skin care remedies. Honey helps to cure acne, scars, wounds, wrinkles and even dry skin.
Skin Benefits of Honey
itamin E oil can be used to cleanse the skin as a toning agent. It cleans away the grime, dead cells and debris that sit on the top layer of your face and make your complexion look dull and tired. An additional benefit of vitamin E oil is it is a “universal cleanser,” because it is appropriate for all skin types. Vitamin E oil is also a moisturizer. For skin to maintain its suppleness and elasticity, it must be well-hydrated. Vitamin E oil can help retain your skin’s natural moisture by locking it in. It is appropriate for all skin types, but it is especially beneficial if your skin is dry. You should apply it on a regular basis for a soft, smooth appearance.
The natural aging process causes your skin to lose its firmness and elasticity, as cell turnover and collagen production begins to slow down. The effects of the aging process are exacerbated by things like exposure to the elements, a poor diet and pollution. The results are saggy skin, fine lines and wrinkles. Vitamin E contains powerful antioxidants that are necessary to fight the free radicals that cause damage on the cellular level.
According to the National Institute on Aging, exposure to the sun contributes to several skin conditions, such as reddening, dryness, freckling, age spots, skin tags and breakdown of the elasticity of the skin. Because of its antioxidant properties, vitamin E oil, by itself, can offer some protection from the sun’s damaging, ultraviolet rays.
One of the natural benefits of calamansi juice is it acts as a natural skin bleaching agent for the maintenance of healthy skin. The juice or extract from the calamansi fruit is effectively used for both face and skin without irritation. However, the extract should only be applied on face twice a week to avoid over acidity. Using natural fruits and vegetables to maintain a good health and beauty is the best way to avoid harmful side effects of chemically made products. In addition, calamansi is far cheaper when compared to other over the counter beauty and health products but with the similar benefits.
*Use twice a week.
*If the product accidentally put into the eye, rinse right away.
In making rice facial mask, the following procedures are listed below:
The proposed plant will be at 126 M-JAR Commercial Building located at McArthur Highway, Valenzuela City. The space to be used by the business is about 60 square meters. The commercial space is a two-storey building suitable for showroom on the ground floor and work area on the second floor. The space is located at 126 MJAR Commercial Building, McArthur Highway, Valenzuela City, where the target market are the residents of Valenzuela City.
The business will be open from 8:00 in the morning until 5:00 in the afternoon every Monday to Friday.
The Following are the basis for choosing the location of the business : * Accessibility in transporting and finding raw materials * The rent and other costs
* The availability of labor, taxes, and other legal aspects
The space that will be used by JAR Enetrprise is to be rented for Php 40,000 a month. It is commercial and has an area of 60 square meters. It has enough space to accommodate the customers.
There are two machines to be used for the production of JAR Enterprise’s FaceLight Rice Facial Mask, blender machine and the filling machine. The blender machine is used to blend all ingredients until paste-like texture is achieved. The filling machine is used to fill up the bottle, the measurement is 90g per product. The average useful life of these machines is 8 – 10 years.
The owners, in actual operation will be the laborers in producing the said demand. There is 8 labor hours per day from Monday to Friday (5 working days). The laborer will start working at 8am and will end at 5pm with a 1 hour lunch break. The workers have a total of 8 working hours.
The number of operating days is the number of working days per week multiplied by number of weeks per year subtracted to 25 days (legal holidays).
No.of Operating Days per Year = 5 daysweek × 52 weeksyear -25 legal holidays
= 235 days / year
Output per day
From the gathered data from the time and motion study table, for every batch of finished product we can produce 100 finished products for 3 hours. Every worker has 8 working hours a day, this total working hour is then divided to the time consumed in producing per batch of finished products, 2 hours, which results to 2.7 production rate. This production rate is now multiplied to output per batch which is 200 finished products per batch to get the total output per day.
Production Rate= 8 working hours per day3 hours
Total Output per Day = 2.67 x 100 = 267 outputs per day (90g)
The cycle time is the length of time required for producing a bottle of rice facial mask. To compute for the cycle time, divide the operating time to the output required.
Cycle Time = Operating TimeAverage Output
= 480 minutes 267 bottles
= 1.79 minutes per bottles
Factors to be considered in determining plant size production capacity are the expected growth of market share since this would determine the demand and supply needed for rice facial mask, also the production is dependent on the demand and supply consolidation. And the depreciation of the machines, it is important to determine the useful life of machineries; proper maintenance should be made in order to extend the life of the machines.
Different kinds of machines and equipments are needed in mass producing rice facial mask. A grinding machine, blending machine, filling machine and weighing scale are needed in producing quality rice facial mask. Also the office supplies, furniture and fixtures, and sanitary supplies that are also needed are listed below.
|BLENDING MACHINE||Capacity: 100L-500L in single batch||Power: 900W||1||37,980.00||37,980.00||Size: 1175(L) X 565(B) X 1025(H)||
Supplier: Jacob Machineries
|FILLING MACHINE||Capacity: 100L-500L in single batch||Power: 900W||1||42,000.00||42,000.00||Size: 1200x800x1500||
Supplier: Jacob Machineries
TOTAL COST (Php)
|Rice Flour||1000 grams||36.00|
|Calamansi Extract||500 milliliters||180.00|
|Vitamin E oil||266.67 grams||100.00|
TOTAL COST (Php)
|Rice||3 tablespoons (45g) – 50%||1.62|
|Calamansi Extract||1 tablespoons (15g) – 16.67%||5.40|
|Honey||1 tablespoon (15g) – 16.67%||2.87|
|Vitamin E oil||1 tablespoon (15g) – 16.67%||5.62|
|Vitamin E oil||600.00||13,200.00|
|EQUIPMENTS||QTY||COST/QTY (Php)||COST (Php)|
|Stainless Steel HopperSupplier: Arizona Metalworks||2||1,000.00||2,000.00|
|OFFICE SUPPLIES||QUANTITY||COST/QTY (Php)||COST (Php)|
|Bond Paper (Long)||1 ream||110.00||110.00|
|Bond Paper (Short)||1 ream||100.00||100.00|
|Envelope (Long)||20 pcs||4.00||80.00|
|Envelope (Short)||20 pcs||3.00||60.00|
|Folder (Long)||1 dozen||40.00||40.00|
|Folder (Short)||1 dozen||32.57||32.57|
|Paper clip||2 boxes||21.00||42.00|
|Record Book||5 pcs||45.00||225.00|
|White Board||1 pc||1,554.00||1,554.00|
|FURNITURES AND FIXTURES||QUANTITY||COST/QTY (Php)||COST (Php)|
|UTILITIES||QUANTITY||COST/QTY (Php)||COST (Php)|
|OFFICE EQUIPMENTS||QUANTITY||COST/QTY (Php)||COST (Php)|
|Wall Clock||1||Php 100.00||Php 100.00|
|Emergency Light||1||Php 700.00||Php 700.00|
|Industrial Fan||2||Php 1,500.00||Php 3,000.00|
|Liquid Hand soap||2||Php 15.00||Php 30.00|
|Tissue||4||Php 59.60||Php 238.40|
|Air Freshener||2||Php 15.00||Php 30.00|
|Large Trash Can||2||100.00||200.00|
|First Aid Kit||1 set||150.00||150.00|
|Trash Bag||2 dozens||68.00||136.00|
This chapter determines the specific financing requirements of the project with respect to the types and costs of the assets to be acquired. It will identify the alternative sources of financing including the terms and conditions, if any and the amount of financing from each source.
This will show the relationship between the capital to be invested and expected profit known as return on investment. It will show the financial condition of the business reflected in the Balance Sheet, Income Statement and Statement of Cash Flow.
The proponents put together their effort to make this study be sensible, conservative and comprehensive.
This study attempts to make the following objective:
Different assumptions have been formulated to help in the appropriate presentation of each and every item in the financial statements. This will support in the computation of projected financial statements.
Production Workers (3)
This part of the study details the jobs needed in establishing the company, thus includes qualifications and job descriptions. It comprises of responsibilities, tasks and functions of every officer or personnel in the company. 1. General Manager
The General Managers of JAR Enterprise will be the owners of the business. The General Manager (GM) is responsible and accountable for all company activities, and assumes complete responsibility for the company as necessary. The GM works to ensure that all activities are consistent with and supportive of the company’s business plan. The GM ensures all employees are performing their job responsibilities and meeting expectations in all areas of their job descriptions. Essential functions
A financial manager is responsible for providing financial advice and support to clients and colleagues to enable them to make sound business decisions. Specific work environments vary considerably and include both public and private sector organisations, such as multinational corporations, retailers, financial institutions, NHS trusts, charities, small manufacturing companies and universities. Financial considerations are at the root of all major business decisions. Clear budgetary planning is essential for short and long-term future planning, and companies need to know the financial implications of any decision before proceeding. In addition, care must be taken to ensure that financial practices are in line with all statutory legislation and regulations. Financial managers may also be known as financial analysts or business analysts.
The roles of financial managers vary significantly. The generic nature of the job title can be misleading and job descriptions should be scrutinised carefully as the level and scope of the responsibilities involved in any role coming under the banner of financial management can vary enormously. In larger companies for instance, the role is more concerned with strategic analysis; in smaller organisations, a financial manager may be responsible for the collection and preparation of accounts. Typical activities include:
A production manager is involved with the planning, coordination and control of manufacturing processes. They ensure that goods and services are produced efficiently and that the correct amount is produced at the right cost and level of quality. The scope of the job depends on the nature of the production system: jobbing, mass, process, or batch production. Many companies are involved in several types of production, adding to the complexity of the job. Most production managers are responsible for both human and material resources. The job role is also referred to as operations
The exact nature of the work will depend on the size of the employing organisation. However, tasks typically involve:
A production manager is involved in the pre-production (planning) stage as well as the production (control and supervision) stage. A large part of production management involves dealing with people, particularly those who work in your team. Production managers are also involved with product design and purchasing. In a small firm you may have to make many of the decisions yourself, but in a larger organisation planners, controllers, production engineers and production supervisors will assist you. In progressive firms, the production manager’s role tends to be more closely integrated with other functions, such as marketing, sales and finance. 4. Marketing Manager
Marketing executives are involved in developing marketing campaigns to promote a product, service or idea. The role includes planning, advertising, public relations, organising events, product development, distribution,
sponsorship and research. The work is often challenging, varied and exciting. As many organisations have marketing departments, marketing executives can be found in both the private and public sectors, ranging from the financial, retailing and media industries to voluntary and public sector organisations. The responsibilities of a marketing executive will vary, depending on the size of the organisation and sector, and whether the focus is on selling a product or service or on raising awareness of an issue that affects the public. Marketing executives may also be known as marketing officers or coordinators. Typical work activities
Marketing executives contribute to, and develop, integrated marketing campaigns. Tasks typically involve:
Production workers typically work in a manufacturing, warehouse or service setting, and can have a variety of responsibilities depending on the type of environment they work in. Production workers typically work in labor intensive positions, continually repeating a process in a team environment to mass produce a product or service. In most cases, production workers are required to have a high school diploma. Depending on the environment they’re working in, they may be required to have certification or training in a specific technology or process. Production workers may be required to stand on their feet for long periods of time, and the ability to lift more than 35 pounds. Production workers perform some or all of the following duties:
They perform functions as described by organizational instructions, operating the specified equipment or following production procedures as instructed. Production workers also perform assigned tasks and functions in accordance with established safety procedures. They understand and review the product or service throughout the production process to ensure final product quality meets the organization’s standards.
Security Guard personnel are responsible for maintaining the cleanliness of the area. They make sure that everyday after work, the whole place is clean. They also stay in the business location guard. He checks and have a good record of whoever comes in and out of the business location. He must be energetic and alert and knows how to have good posture and confidence to handle the security of the business location.
The organization must plan what type of staff and positions are needed in the short and long term, based on organizational goals and action plans. This plan informs recruitment decisions and helps new hires integrate into the organization’s culture; engender trust, cooperation, and motivation; and be effective in contributing to the organization’s achievements. This is the process that introduces new hires to the systems, structures, policies, and communication flow in the organization. Recruitment is the process of identifying that the organization needs to employ someone up to the point at which application forms for the post have arrived at the organization. Selection then consists of the processes involved in choosing from applicants a suitable candidate to fill a post.
Training consists of a range of processes involved in making sure that job holders have the right skills, knowledge and attitudes required to help the organization to achieve its objectives. Before selecting the workers for the company, the proponents will first assess the need for and establish the purpose of the position. This will be done by understanding clearly the company’s goals and mission statement prior to conducting a search for qualified individuals. The organization first builds a staffing plan based on organizational goals and action plans and on needs in the programmatic sectors. Then, finance is brought in for their knowledge of available funding. Finally, a staffing plan is put into place. The staffing plan allows the organization to plan in advance the resources needed for recruitment and hiring for the positions indicated in it. A staffing plan does not always require hiring from outside the organization. Realigning or promoting internal staff is also an option.
The HR manager/designate prepares a detailed job description for each position to be filled. The job description specifies the responsibilities, required qualifications and skills, reporting relationships, and other important aspects of the position based on the organization’s strategy, goals, and plans. A well-written job description helps the organization create criteria to ensure that only candidates with the right training and experience are considered. The development of job descriptions for new positions makes it easier to establish selection criteria and evaluate applicants. Once the right person is hired, the job description is a valuable management tool to help set performance expectations, evaluate performance, and identify staff development, learning needs, and approaches The hiring process is the main part of the recruitment process. Make the job vacancy available to internal and external pools of candidates by posting the job to bulletin boards, email bulletins, media outlets, etc. Once the organization has identified a pool of qualified applicants, the selection process includes analyzing applicant documents, interviewing, testing and background investigation, and making an employment offer. Selection processes are as follows: 1. Analyzing Applicant Forms (Shortlisting)
In this stage, staff with HR responsibilities, “analyze the candidates’ application forms and CVs/résumés to identify applicants who fit the minimum selection criteria.” (Society for Human Resource Management Learning System. (2009). Module Two: Workforce Planning and Employment. Page 2-169.) Application forms should include information that will point to the applicant’s ability to perform the position successfully. In other words, the application should include information beyond biodata. Applicant qualifications should always be compared to the job requirements identified in the job description.
A carefully selected interview panel should interview the shortlisted candidates. Panel interviews that include participants with diverse backgrounds from the organization mitigate the chances of bias, favoritism, corruption, etc. A panel should consist of the person responsible for HR functions (e.g., recruitment), the general manager, and others as appropriate. Interviews are designed to probe the interviewer’s areas of interest in order to determine how well the candidate meets the criteria of the position and the needs of the organization.
It is important that the interviewers are properly prepared to conduct the interview, as the interview is a critical selection device. “Some organizations conduct a series of interviews ranging from short prescreening interviews (20 minutes or less) to long in-depth interviews (one hour or more). Interviewing styles depend upon the preference of the interviewers and the situation, but consistency with each candidate for the position must be maintained.” (Society for Human Resource Management Learning System (2009). Module Two: Workforce Planning and Employment. Page 2-172) The panel should have the list of pre-determined questions to ask, which may be accompanied by a rating system. Interview questions should include behavioral questions. The following are what will be done on a panel interview:
• The same questions should be asked of each candidate for a given position.
• Panel interview members should not interrupt each other and should ask the questions in a pre-determined sequence.
• Provide the applicant with an opportunity to ask questions.
• Tell the applicant when a decision is expected to be made and how it will be communicated.
Testing (skills assessment)
Tests help to reveal more about the applicant’s pertinent skills and knowledge for the particular position. For example, testing is often conducted for positions in accounting, driving, and report writing because these positions require a particular set of technical skills. 4. Reference and background checks
Based on the evaluation of the applicants, recommendations are made for the top candidates for the position. In order to avoid hiring unqualified candidates (e.g., those without the requested education, skills, or experience) or candidates who present risks (e.g., theft, fraud, or misconduct), the organization would check references thoroughly. Preferably, three references should be checked. References should be obtained from former employers or supervisors. Organization would ask for permission from the applicant to conduct reference checks. The Organization may also conduct background checks. This may include verification of academic credentials, credit history checks, criminal records, and other records.
Local laws concerning background checks should be consulted.
Employment offer and employment contract
An employment offer would be immediately followed after the final decision to hire a candidate. An employment offer makes the hiring decision official and is formally communicated through an offer letter. The organization may verbally extend the job offer and at the same time discuss the details of the offer. “An employment contract is a legally binding agreement that explains the relationship between the employer and employee.”(Society for Human Resource Management Learning System (2009). Module Two: Workforce Planning and Employment. Page 2-195). The employment contract should be written to clarify employment terms that can otherwise be subject to misunderstanding and misinterpretation. The following are recommended to be included in the employment contract:
• Terms and conditions of employment, including timeframe and working hours
• Length of probationary period
• Job description
• Confidentiality and nondisclosure terms
• Compensation and benefits
• Reference to policies
• Terms of resignation and termination
• Appropriate signatures and date
A personnel filing system should be maintained. Each employee’s file should consist of all documents related to the employment relationship such as contract, job description, Cv/résumé, warning letters, leave documents, and performance plans and appraisal. The documents should be accessible to employees upon request but otherwise kept confidential.
Orientation and Onboarding Process
It is designed to introduce new hires to the organization, fellow employees, their immediate supervisors, and the policies, practices, and objectives of the organization directly related to the employee’s job function. It includes frequent feedback, relationship building, and mentoring. It is designed to help the new hire integrate into the culture and become a productive member of the organization. An orientation and onboarding process not only helps new hires to understand job-specific information, but also provides organizational information to help the new hire fully understand the organization.
The purpose of training and management development programs is to improve employee capabilities and organizational capabilities. When the organization invests in improving the knowledge and skills of its employees, the investment is returned in the form of more productive and effective employees. Training and development programs may be focused on individual performance or team performance.
The management will then undergo several seminars and training programs for the hired applicants to know their rights, duties and responsibilities and other information such as their wages, the company’s rules and regulations and the benefits that they will receive from the company. For the positions of production workers, after the employees are hired, they are required to undergo training for one (1) month until they are certified for a task and be assigned in a workstation, with allowance. This training is important for them to be familiar with the equipments and the basic operation process. Several trainings will be done after three (3) months for career development.
Also, introducing new products requires new training program for all employees for them to be knowledgeable about the processes and operations.
This training and development program is for all the employees, new and old, for them to enhance their skills and knowledge and be particular about the mission and goals of the company. This is for the company to grow and for the employees to be better and more competent.
This company relies on their employees to contribute to the company’s financial success because the products made by the workers and the service of staff members are the frontline to customers. Individuals with good personalities and solid work ethics truly can increase the company’s sales because customers feel more comfortable, secure and happy when the products are made with credibility – means they will be more likely to spend money in your salon and become a loyal client.
To an employee, salaries and hourly wages play a big role in their overall contentment with a job because they want—and deserve—to be compensated for their hard work.
To give a short run down, the following are government-mandated benefits: Social Security System (SSS) contributions, Philippine Health Insurance (PhilHealth) contributions, Home Development Mutual Fund (Pag-ibig Fund) contributions, 13th month pay, service incentive leave, meal and rest periods, overtime pay, special holiday/rest day rates, and night shift differentials. Other more common benefits that are not mandated but are given by a lot of companies are: holiday bonus, mid-year bonus, and paid holiday and vacation leaves. * Php 426.00 per day as the minimum wage
* Social Security Sytem (SSS) – The Social Security System was created by the Philippine government. All employees hired by private companies are required to become an SSS member (Republic Act No. 8282). This system aims to protect its members for when they are unable to work such as sickness, disability, maternity, old age and death, or other such contingencies not stated but will result in loss of income or results to a financial burden. When an employee gets sick, SSS will reimburse them with their equivalent daily salary multiplied by the number of days absent. When a female member gives birth, SSS gives the employee 2 months worth of salary to compensate for the time she will be off from work due to childbirth. The SSS also serves as a pension plan for its members as SSS returns members’ monthly contributions after they retire from work. The amount of SSS monthly contribution is determined from the actual monthly salary an employee receives. 30% of total monthly contribution is deducted from an employee’s salary, while 70% is subsidized by the employer. * Philippine Health Insurance (PhilHealth) – The Philippine Health Insurance Enterprise is the medical insurance company of the Philippines. All employees are required to be contributors of this service (Republic Act 7875).
Members are given health and hospitalization subsidies should they or a dependent be hospitalized. Monthly contributions are based on actual employee monthly salaries and the amount of employee contribution is matched equally by the employer.
* Home Development Mutual Fund (Pag-ibig Fund) – Employers are also required to contribute, on behalf of their employees, to the Home Development Mutual Fund (Republic Act 7835). This company provides the lowest interest housing and land acquisition loans to its members that are payable for up to 30 years. This gives every Filipino worker an opportunity to own a house in easy-payment plans that can directly be deducted from their monthly wages.
* 13th Month Pay – Based on Presidential Decree No. 851, all Filipino employees are entitled to a year-end bonus equivalent to one (1) month salary regardless of the nature of their employment. The 13th month pay is to be given no later than December 24 of every year a worker is employed.
* Service Incentive Leave – According to Article 95 of the Labor Code of the Philippines, an employee who has worked for at least one (1) year in a company is entitled to five (5) days leave of absence, with pay, every year. If the employee does not avail of these paid leaves, the company may opt to have them do a mandatory leave of absence, with pay, or convert these unavailed paid leaves to their cash equivalents, to be given at the end of each year.
* Meal and Rest Periods – According to Article 83 of the Labor Code of the Philippines, employees are entitled to one (1) hour break for meals on an eight-hour work day. Employees are also entitled to adequate rest periods in the morning and afternoon, of short durations, that will be counted as hours worked. These rest periods normally last for 15 minutes and can be used by employees as coffee or snack breaks.
* Overtime Pay and Holiday/Rest Day Pay – Under Article 87, an employee who renders over eight (8) hours of service per day shall be given an overtime pay which is equivalent to his regular hourly wage plus at least twenty-five percent (25%) thereof. Under Article 93, if an employee is asked to work on their scheduled rest day or on a non-working holiday, the employee shall be paid an additional compensation of at least thirty percent (30%) of his regular wage.
* Holiday/Christmas Bonus – This is given in December, on top of the 13th month pay. This is considered as the company’s Christmas gift to their employees.
* Mid-Year Bonus – This is given in June, when the country’s school year starts.
This is to assist employees in school enrollment fees for their children. This is also known as an educational assistance plan.
(1) The employee is lawfully married, (2) He is cohabiting with his legitimate wife, (3) His wife is pregnant or has delivered a child or suffered a miscarriage or abortion, (4) Must be of the first four deliveries, (5) The employer is notified within reasonable time of the pregnancy and of date of expected delivery (not required in case of abortion or miscarriage), (6) The benefit is availed of not later than 60 days after delivery.
* Parental leave for solo parents – 7 days leave with pay.
* Salaries are given every 15th and 30th of the month.
A performance appraisal program (PA program) is important to employees’ professional development, to meeting the firm’s goals or objectives and, ultimately, to contributing to the company’s or firm’s bottom line. The primary reason for having a PA program is to monitor employees’ performance, motivate staff and improve company morale. When employees are aware that the company is mindful of their performance and that they could be rewarded with merit increases and promotions, they are motivated to work harder. A well-developed staff is more likely to be proactive, productive and resourceful, all of which helps give the company a competitive edge, from improved customer relations to increased profits.
Objectives for performance appraisal policy can best be understood in terms of potential benefits. Mohrman, Resnick-West and Lawler (1989) identify the following:
Each employee should participate in a regular process of performance appraisal. It is recommended that individual performance evaluation plans be developed for each staff member. Much like the individual staff development plan, each performance evaluation should be developed cooperatively between each staff member and her/his supervisor. All positions should undergo a periodic review each year. During this review, the duties and responsibilities of the position should be analyzed to ensure that they match the mission and goals of the institution, division, and department. Performance evaluation plans should be changed to match any changes in job descriptions, missions, and individual goals of the staff member. Because of the importance of performance evaluation, all staff members should undergo two formal evaluations per year. In addition, it is expected that supervisors meet with individual staff members on a regular basis to discuss performance and expected behaviors within the department.
The Company’s philosophy of Corporate Governance is reflected in the commitment of management, which objectively works, realizing and accepting its responsibilities towards shareholders, society and the country. The management’s endeavor is to maintain transparency, optimize operational efficiency and retain high level of credibility with the shareholders, creditors and the government. This Code of Conduct is intended to provide guidance and help to all Senior Management Executives in recognizing their responsibility and dealing with the issues in such manner as to achieve the objective of the corporate in an ethical way and to help to foster a culture of honesty in the performance of one’s duties and accountability.
Each person should act with competence and diligence to bring honour and respect for the Company and comply with all the relevant laws governing the operations of the Company’s business in accordance with the principles laid down in the Code. A Director of the Company is to act in the fiduciary capacity and every Senior Management Executive is to act as a most disciplined, sincere and loyal worker to protect the interest of the Company and to make efforts for achievement and promotion of the corporate objectives, inter alia relating to financial, social, cultural and ethical areas. The Best – of results can be achieved by adopting the best practices as under:
In case a person feels uncomfortable in discussion of such matters then the person desiring to convey his feeling should contact the Chairman of the Company
PROPER CAUSE FOR SUSPENSION, SUBJECT TO DISCHARGE, SHALL INCLUDE BUT NOT BE LIMITED TO THE FOLLOWING MAJOR OFFENSES:
The objective of this study is to introduce to the people that natural, affordable facial mask is the best for cleansing and removing skin problem.
This aspect implies the benefits that the business can give, which is related in the economic status of the country. It also tells if the product is economical to the market. This will help the economic crisis which country is experiencing now. It also discusses the proper waste management.
The establishment of “JAR” facial mask will create opportunities for those personnel to be hired by the business. This will decrease the number of unemployed and this will help some people who are willing to be part time personnel of the business
The business will not violate any rules and regulations that will affect the surroundings.
JAR facial mask will help in the campaign for minimizing products that create damage by using some chemical components. Taxes from the business operation will help the local and national government in making projects for the development of the community and for the benefits of the business.
Based on the study of proposed business to the society and the economy, the proponents concluded that the business can contribute to the progress of individuals and economy because of opportunities that the company can create for the people and in the economy and it can give to the fulfillment of individual and government goals.
The primary objective of an organization is to set – up relationships and procedures in such a way that employees can obtain the best results from their efforts. In an organization, jobs are generally organized into teams, units, departments, divisions, and so forth thereby combining individual efforts and producing more than individuals could produce separately.
The business relies on the hands of the management in order to be successful. This part of the study involves the forms of the organization
and kind of officers who will work in the firm.
The business’ legal form of organization is General Partnership. The proponents decided to have partnership as a legal form of business because it is easier to establish as compared to a corporation. Also, having a partnership is advantageous since it is easier to raise capital for the business. Lastly, we are a general partnership because we want equality in the business. Since each one of us established the business, each one is liable to the business. Partnership, nature:
Within the context of Philippine law, a “partnership” is treated as an artificial being created by operation of law with a legal personality separate and distinct from the partners thereof. It proceeds from the concept that persons may be allowed to pool their resources and funds to engage in the pursuit of a common business objective without necessarily organizing themselves into a corporation, upon which the law imposes a much higher form of regulation, limitation and standards. Philippine partnerships operate under the concept of unlimited liability and unless otherwise agreed upon by the partners, each one of them acts as manager and agent of the partnership and consequently, their acts bind the partnership. (Chan Robles Virtual Law Library,
Unlike corporations whose governing law is a special law – the Corporation Code of the Philippines, partnerships in the Philippines are governed by and covered under Articles 1767 to 1867 of the Civil Code of the Philippines [circa 1950]. These are the provisions of law which govern all aspects of partnerships – from their creation, formation, existence, operation and management to their dissolution and liquidation, including the obligations of the partners to one another, to the public or third persons and to the government. (Chan Robles Virtual Law Library,
Partnerships are required to be registered with the Securities and Exchange Commission [SEC]. Registration is done by filing the Articles of Partnership with the SEC. The Articles of Partnership set forth all the terms and conditions mutually agreed by the partners thereto. More specifically, the documents required are as follows:
 Proposed Articles of Partnership;
 Name Verification Slip;
 Bank Certificate of Deposit;
 Alien Certificate of Registration, Special Investors Resident Visa or proof of other types of visa [in case of foreigner];
 Proof of Inward Remittance [in case of non-resident aliens].
It bears noting that corporations are not allowed by law to become partners in a partnership. (Chan Robles Virtual Law Library, http://www.chanrobles.com/legal5cc1c.htm#.USHfwh1EG8A) Partners, liability:
As a general rule, the liability of partners in a partnership organization is unlimited in the sense that the partnership creditors may run after them for any and all of their assets and property in payment of the partnership debts. Should one of the partners defray all liabilities of the partnership, he is entitled to be reimbursed by the other partners for their respective shares therein. In the case, however, of limited partnerships, the law allows the limitation of the liability of certain partners to the extent of the amount contributed to the partnership. (Chan Robles Virtual Law Library,
Philippine law allows the dissolution of partnership for any reason, provided such dissolution does not amount to a breach of contract or is prejudicial to third parties. The death of a partner or the unauthorized transfer of ownership of his share in the partnership [in case there is a limitation to this effect] results in the dissolution thereof. In other words, any change in the composition of the partnership, unless so allowed, will result in the dissolution thereof. Consequently, the remaining partners may form a new partnership with less or more partners. (Chan Robles Virtual Law Library,
JAR Enterprise is a Partnership form of business organization that is owned by three (3) person who will share their skills, talents and determination in making this business possible and successful. This three (3) investors will finance the forming of FaceLight who will share money, time, effort and abilities. Sec. 2 of The Enterprise Code of the Philippines defines Enterprise as “A Enterprise is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence.” “A Enterprise is an entity separate and distinct from its stockholders. While not in fact and in reality a person, the law treats the Enterprise as though it were a person by process of fiction or by regarding it as an artificial person distinct and separate from its individual stockholders.” (Remo, Jr. v. IAC, 172 SCRA 405 (1989)).
The transfer of the corporate assets to the stockholder is not in the nature of a partition but is a conveyance from one party to another. (a Stockholders of F. Guanzon and Sons, Inc. v. Register of Deeds of Manila, 6 SCRA 373 (1962)).
Most city and state government require business owners to obtain business licenses and permits. In some instances the government may also require to secure special licenses or permits, depending on the kind of business.
Many businesses are also required to obtain permits. Local permits requirements vary by jurisdiction. Failure to have the proper permits may prevent the business from opening and could result in fines or event being shut down.
Steps in applying for business permits.
The above description is subject to verification by proper authorities upon demand without objection. I promise to open only business(es ) granted approval by this application, subject to submission of the applicable requirements as listed at the back of this application form.
The permit issued be posted in a conspicuous place in the establishment together with all the receipts evidencing payments of taxes,
fees and other charges provided for in Section 11, City Ord. LXIX, as amended, series of 1993, otherwise I shall be liable to pay the penalties prescribed thereon. ,
Social Security System is an agency which is created to establish a social security protection to workers in the private sector, wage earners as well as self-employed persons Before one have the services of SSS, one should register first. To know who are qualified to enroll, how to register, what are the benefits, and what are the duties and responsibilities of members of SSS they should fill up the forms presented in the next pages. These application forms are needed in order to comply with the requirements of SSS services. One should also know the rules and regulations of the agency in order to become a member of the services offered of SSS.
Income tax is a tax paid on income. It is paid by employees and people who are self-employed. It may also be payable if you aren’t working if, for example, you have an income from a pension or savings. Not all types of income are taxable and it will seldom be the case that all your income is taxed. There is no minimum age at which a person becomes liable to pay income tax. What matters is the amount of your taxable income. If this is below a certain level, no tax is payable.
Income on which tax has to be paid includes: