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Register your business or go Bust

Register Your Business or Go BUST!

Everything great usually starts small, bare, and unproductive. This has been a learning that I always need to relearn and slowly apply it to the fit any situation in my life. It takes a special set of eyes to see whether something is promising or not. In fact, it actually takes a much keen look. A second, a third, a fourth or even a fifth look, to know whether it will be good business or not.

I’m currently in Consolacion Cebu, meeting with our Contractor for the renovation of this small Trailer-Commercial for our future dessert shop. It is what we call in the Philippines as Halo-Halo dessert, or ice-mixed-desserts with different kinds of contributing flavors.

This is actually my first official venture into food and retail. Wait, let my quantify that. This is my first official venture with my capital (and of my partners) as well with legalities. I’ve ventured to three (3) food businesses before but did not contribute to any of the capital (I actually used someone else’s). All of this food businesses are now down to nothing by the way. Nada. Zilt. Gone.

Talking about being fully legal. It really plays a great role in starting a business. I mean, of course it all starts as a sideline or side hustle. But eventually you need to register and “legalize” your business. Once you do just that, you suddenly become more committed and somehow have “more to loose”. I remember registering my first business (still with partners). It felt very different. It felt scary and exciting at the same time. And in your heart, you get to say “FINALLY I’ve started a business”. Moreover, once you’ve fully registered your business you have added responsibilities like overhead cost, fixed cost, taxes, book keepers, which for me definitely makes you work harder. But that day, I also felt a sense of meaning in the word ENTREPRENEUR. It boost my morale. My confidence. And especially my creativity.

So if you’ve been doing a sideline for quite some time now (3-8 months), start registering it. Our Philippine government has made easier for us and cheaper. You can apply online and process the rest through our Local Government Units. So I ask you to register now.

Here are the links for starting:

Single Proprietor: http://www.dti.gov.ph/businesses/business-name-registration

Partnership / Corporation : http://www.sec.gov.ph/services-2/company-2/registration/

Anyway, besides sharing to you this lesson about being a fully registered company, I’m personally inviting if your from the North part of Cebu – Mandaue City, Liloan, Tayud Consolacion, Compostella, Danao, and especially from the main area of Consolacion please visit our small but filled with yum, SirChubby’s Halo-halo and deserts, inside Tambayan Food Park (sa Consolacion).

Dream, Create, Thrive, Live

– Jake Bere #SirChubby

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