Common Problems of Small-Scale Businesses

A small-scale business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. In addition to number of employees, other methods used to classify small companies include annual sales (turnover), value of assets and net profit (balance sheet), alone or in a mixed definition.

The smallest businesses, often located in private homes, are called microbusinesses (term used by international organizations such as the World Bank and the IFC) or SoHos. The term “mom and pop business” is a common colloquial expression for a single-family operated business with few (or no) employees other than the owners. Read more

Accounting 101 for Small Business (eBook)

Accounting is important to you and your business for many reasons. To begin with, when you have an accounting system, you will know how your business has performed financially during a particular period, and you can also evaluate how you had managed your cash flows and other assets. You can do this by reading the different financial reports that you can generate from your accounting records, such as your balance sheet, income statement, and cash flow. A qualified accountant in your company can help you interpret the financial figures in the report correctly for evaluation and decision-making purposes.

Also, if you are planning to expand and would like to raise money by taking in new investors, you need to consult your accounting records regarding the net worth of your business. Read more

Solar Energy, Unlimited, Clean and Renewable

Solar Panel or Photovoltaic (PV) is a technology that converts sunlight directly into electricity. It was first observed in 1839 by the French scientist Becquerel who detected that when light was directed onto one side of a simple battery cell, the current generated could be increased. In the late 1950s, the space program provided the impetus for the development of crystalline silicon solar cells; the first commercial production of PV modules for terrestrial applications began in 1953 with the introduction of automated PV production plants.

Today, PV systems have an important use in areas remote from an electricity grid where they provide power for water pumping, lighting, vaccine refrigeration, electrified livestock fencing, telecommunications and many other applications. Read more

Tax Incentive Program for MSMEs

For the first time, the government is going to open broadly the Investment Priorities Plan (IPP) to include the grant of generous tax incentive packages to the establishment of “micro-enterprises” that would engage in providing services and activities that would help save and preserve jobs.

Micro, small and medium enterprises will continue to get government support in the form of tax incentives and easy processing of application for registration with the Board of Investments (BOI) under the 2009 Investment Priorities Plan (IPP). Read more

Pangasius Production Program by DTI-CLEEP

The program aims to develop pangasius production both as a viable livelihood and a lucrative business venture that can attract more investments and create more jobs in the countryside.

Before launching the program at the Dolores Farm Resort in Polomolok, the President will witness the harvesting of the pangasius catfish, which is touted as a new delicacy with a huge export market potential.

The program launch will be highlighted by the presentation to the President of a Memorandum of Agreement (MOA) signed by Mindanao stakeholders, including fish contract growers and feeds suppliers. Read more

Basic Business Record Keeping Tips

Most entrepreneurs enter new ventures because they know something about products or retail or sales and marketing. Despite a burning passion for their new businesses, entrepreneurs will not succeed unless they learn to keep their financial records in order.

Record keeping is considered by many entrepreneurs as one of the “least important” part of operating a business (unless you are an accountant). However, good record keeping is essential to your financial survival. Here is a quick, crash course on basic record keeping. Continue reading

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