Importance Of Small Business In The Philippines

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III.Local
(Small,Big Business)
According to Victorino Abrugar (2013) Small businesses in the Philippines can be defined according to the size of assets, size of equity capital, and number of employees. The Magna Carta for Micro, Small and Medium Enterprises defines a small business as any enterprise or business activity engaged in the major sectors of the economy ( industry, trade, services, practice of profession, operation of tourism-related establishments and agri-business) whether single proprietorship, cooperative, partnership or corporation whose total assets, inclusive of those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, are ranging from more than P3,000,000 …show more content…

And According to Roel Manarang (2015) The example of business are Food Cart Business is a very popular business to start but many people are tricked by this. Some food cart owners let others franchise their food cart in a low price with no royalty fee. However, you should keep in mind that you will become only a seller of the product and not a business owner.If you want to invest in this kind of business, make sure that you will franchise the products that have already made their names and brands. You can also create your food cart by simply setting up a food cart with your own products. This can also be considered as an investment.If your products are good, you can be a franchisor and serve as an inspiration to other people who want to do business with you. Sari-Sari Store Business is the most typical business that Filipinos do which only requires a small capital to start. From the word sari-sari, which means variety, people sell different kinds of stuff or snacks and gain profit from it.Although this is not a “big shot” business, having a sari-sari store as a business is a very effective way of gaining profit with small capital. This is a good business especially for those people who have a lot of

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