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RAS - GEC Elec 2 - Activity #5

My uncle and aunt started a tailoring shop in 2016 with 200,000 pesos of capital. This covered fees, 7 sewing machines, fabric, and supplies. Their business has grown since then due to events that bring customers from other areas seeking custom jerseys. To obtain the necessary permits and licenses, they first identified what was required including certificates from the barangay, DTI, BIR, and others. They then completed application forms and submitted supporting documents along with fees. Approval time varied by license but they had to renew annually and follow rules around taxes, health, and safety.

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George Blaire Ras
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118 views2 pages

RAS - GEC Elec 2 - Activity #5

My uncle and aunt started a tailoring shop in 2016 with 200,000 pesos of capital. This covered fees, 7 sewing machines, fabric, and supplies. Their business has grown since then due to events that bring customers from other areas seeking custom jerseys. To obtain the necessary permits and licenses, they first identified what was required including certificates from the barangay, DTI, BIR, and others. They then completed application forms and submitted supporting documents along with fees. Approval time varied by license but they had to renew annually and follow rules around taxes, health, and safety.

Uploaded by

George Blaire Ras
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Name: George Blaire M.

Ras Course&Section: BSCE – 1A

GEC Elec 2 – Entrepreneurial Mind


Activity #5

1. (30 points) Interview a sole owner of sari – sari store or any sole owner of business
establishment with this following questions:
a. How much capital is required to open their business? Includes the inclusive date.

My Uncle and Aunt runs a tailoring shop near North West Samar State University. They
started their business since 2016. According to them, they spend 200,000 to start they business.
These includes the fees to the paper works, 7 sewing machines (modern), things like thread, needles,
etc. and some different kinds of clothing fabric for reservation. As I observed to this business, it is
still running and they’re business is growing specially in summer because of the basketball event, so
a lot of customer from different barangay want to have their jersey.

b. In details what was the process of how they comply permit and the license.

1. According to them, identifying the specific licenses and permits needed for your
business is the first step in obtaining them. Specifically, these are the Department of
Trade and Industry, Brgy. Business Clearance, Solid Waste Certificate, Brgy. Solid
Waste Certificate, Community Tax Certificate (Cedula), Locational Clearance, Fire
Certificate, and BIR.
2. Once you have determined the licenses and permits required for your business, you
will need to complete the application forms. These forms can be obtained from the
appropriate government agencies.
3. You must include supporting paperwork, such as a certificate of insurance, evidence
of business registration, and other pertinent documents, together with the
application forms.
4. Permits and licenses have costs attached to them, which you will need to pay when
submitting your application.
5. After submitting your application, you must wait for the necessary government
agencies to approve it. The type of license or permit, as well as the agency's workload,
might affect the processing time.
6. After obtaining your permissions and licenses, you must renew them yearly or as
instructed by the relevant governmental agency. To avoid penalties or fines, you must
also abide by any rules pertaining to the permits and licenses, such as health and
safety rules. Requirements for renewal includes Tax Clearance and Financial
Statement / Gross Income for a whole year.

2. Watch a you tube tutorial on how to invest in corporate or stock market (example how to invest
in San Miguel Beer, Jollibee, etc.) and summary the step by step process. Attached the link. (30
points)

A way for investors to acquire ownership of a business or profit from its potential growth is
through stock investing. Investors obtain a share of the company when they buy stocks,
typically through a stock exchange. Investing in the stock market offers investors the chance
to profit from dividends, capital gains, or maybe both. Capital gains, on the other hand, are
profits gained from the sale of stock at a price greater than the original purchase price.
Dividends are payments made to shareholders from the company's profits.
Based on the video I watched, the first step is to educate yourself. Before investing in the
stock market, it's important to learn the basics of investing, including the different types of

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