Tips and Info: Do You Want Setup Your Own Company?

I was able to attend a very informative talk geared and customed for the TechTalk startup community in Cebu. It was attended by aspiring entrepreneurs, startup business owners and foreigners looking for potential business partners in the Philippines.

It was a great Friday evening and I had to meet with Rajiv who came with Robert at Bo’s Coffee. I was supposed to meet him earlier but due to unplanned circumstances, it ended up being cancelled.

We went to the location together to listen to the talk. I admit it was something that I would only pick the topics that could be of use since my social media marketing company – Third Team Media – is already a fully-registered and tax-paying business.

But for the other bloggers, work-at-home entrepreneurs, these information are of great help. Please read this article and the presentation to get an idea of how to start.

Another TechTalks Cebu Meetup

The talk was held at a room in CEDFIT, Asiatown IT Park. It was presented by Jan Ralph Y. Perez, a CPA – Lawyer from PEREZ GO CIMAFRANCA AVANZADO & Associates. The presentation was a brief rundown of things that you need to know when setting up a business in the Philippines. His presentation included:

(1) Planning to Set-up the company?
When should you set-up a company – Why?

(a) Financial planning

(b) Organization planning

(c) Foreign partner or investor? What to watch out for

(d) Partnership agreements

(2) Setting up the company

(a) What entity to use? Single proprietorship, partnership or corporation?

(b) Where to file. What licenses to avail.

(c) What to prepare for set-up

(3) Getting started – overview only.

How Do You Setup a Company in the Philippines?

The answer to such was contained in the talk itself of Atty. Jan Perez.

I have asked for the permission of Atty. Jan to upload this to slideshare so that it may be shared to others who are interested in setting up a business here in the Philippines. You can read through his presentation to get an idea of doing such.

Notes You Can Use When Registering a Business

Just to note, the above are your tips on what you should note when creating a company locally. Kevin Leversee posted on his Facebook that it is possible to setup a company that can support you even if you work anywhere. Yes, anywhere on the globe. He got into a very interesting conversation with Alexander Hays and I was hooked reading through the items the posted on the thread.

I will be covering that on another post. But for now, here are some notes that you can use on setting up a company.

  • Just because you work from home does not mean you can’t register a business.
  • Registering a business yourself take a LOT OF TIME given that you have lots of papers to fill up. My tip: Get an accountant or an agency that you can hire to get things done for you. Saves you a lot of time.
  • Scout around for a trustworthy accountant. I have mine referred by another business owner and their services are good so far.
  • Invest in frames for your docs. It may sound silly but I have to put it on display even if my business address is my home but my clients are online. If I need to move then at least my docs still look good on frames and I don’t have to rip them out of the wall.
  • Keep your documents in a place where you can easily access them in case needed. I keep my docs in one leather, folding documents case and my only problem with it is that it’s already full.
  • It’s okay if your receipts are not that fancy. I was able to print mine for Php 800 and I got about 5 whole packs of receipts to use. It may not be branded with logo and all but it is enough to get me started.
  • Never throw away your receipts. They are of great use for documentation.

Do you have extra tips in setting up a company?

Would love to hear them at the comments section. Kindly leave your thoughts. 🙂

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