Saturday, July 24, 2010

Kopi Talk Promoting entrepreneurship through the simplification of start-up requirements

Many Filipinos who wish to start single proprietorship businesses are intimidated not so much by the capital required to set up such enterprises but the requirements imposed by both national and local government units.
Encouraging entrepreneurship: Britain's new enterprise program.: An article from: Journal of Small Business Management
Recognizing this problem, the Department of Trade and Industry (DTI) has ordered further streamlining of business registration processes and requirements to make it easier for businesses to operate in the country. The goal is one-day approval for a simple single proprietorship registration.

The review of the business registration procedures is being undertaken in coordination with the Department of Interior and Local Government (DILG) together with the Securities and Exchange Commission (SEC) and the Intellectual Property Philippines Office (IPO).
Encouraging Entrepreneurship in Eastern Europe: No. 22: A CRCE Conference in Bled Slovenia, October 2005
Believing that single proprietorship registrations are simple and should not take more than a day, the DTI is looking at the Business Name Registration System (BNRS), how to make it faster, and also the Philippine Business Registry (PBR) in coordination with the SEC and IPO. The intention is to come up with a central business registry.

The DTI, specifically in the National Capital Region, has already started to review and revise their processes and procedures. The DTI lowered the age limit by which an individual can register a business name from 21 to 18 years old and reduced the business name registration to P150 from P300 to encourage more Filipinos to go into business.
Encouraging Entrepreneurship Internationally
With the initiative of the Department of Trade and Industry and the cooperation of the Department of Interior and Local Government, the simplification of requirements and processes for registering single proprietorship business will go a long way in encouraging entrepreneurship in the country


Understanding and encouraging entrepreneurship internationally.: An article from: Journal of Small Business Management
Encouraging and expanding entrepreneurship: Examining the federal role : forum before the Committee on Small Business, United States Senate, One Hundred ... first session, March 1, 2001 (S. hrg)