Pagsisimula ng negosyo sa Pilipinas, alamin!
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NewsTranscript
00:00 [Filipino Newsreel Narration]
00:29 First of all, can you share with us how you started your own business, an accounting and insurance business?
00:37 Yes, we started our accounting and insurance business when we got married and had our first child.
00:46 So, coming from corporate life, we know that it's really hectic to work as an employee.
00:55 So, I would leave home and my child would still be sleeping.
00:59 When I got home, she was already asleep.
01:02 So, coming from a broken family, I took care of my time for my new family.
01:11 This is the new family that I'm slowly growing.
01:15 So, I resigned since I am a certified public accountant by profession.
01:22 I thought that it's okay to do my 10 years of experience in corporate life on my own.
01:29 And also to share my knowledge to different people who are also aspiring to become business owners.
01:38 So, you started this business when you got married?
01:42 Yes.
01:44 So, this is a business. Who are the two of you?
01:51 Who are you?
01:52 So, in our business, actually, just to add, she was the first one to leave the corporate life.
01:59 I was like, "Why is that?"
02:01 Now, she's taking care of her time and spending time with our child.
02:07 But she has a bigger income and more freedom.
02:10 So, I followed her afterwards.
02:12 But when we started, it was really her.
02:16 I was the one who started because she has a bigger income when we were both employees.
02:21 So, I said, "It's better that we start this now before you get old, right?
02:28 Before you start the business."
02:30 So, while I'm building the business, I'm still with her.
02:34 She's the one who provides the finances.
02:37 So, of course, we are the two bosses.
02:40 We are a team.
02:42 Teamwork makes the dream work.
02:45 That's it.
02:46 Well, because we have a lot of fellow countrymen who want to enter the business,
02:52 but they are afraid that their hard-earned money will be wasted because they don't have the expertise to enter the business.
03:00 So, when you started the business, was it related to your profession before?
03:08 Well, since I'm a certified public accountant, I'm the one who reviews the financial statements, taxes.
03:17 And Mark, since he's in business management, he's the one who goes to the municipality, DTI, and SEC or BIR.
03:29 So, it's good if you're going to be a husband, you should also consider your business partner in the future.
03:37 But when it comes to building a business, what are the first steps that a new business owner should do before starting their business?
03:47 First of all, it's very important to know what your business is.
03:52 And at the same time, how you will set it up.
03:55 Is it a sole, partnership, or corporation?
04:00 Because that's where you'll know what agencies you need to go to.
04:05 And it's very important that when you start, you do it right.
04:09 So, the government agencies that we should go to, if it's a sole, DTI, if it's a corporation that you're going to build, of course, SEC.
04:19 Now, of course, there's the BIR and the municipal because those are the permits that we need to get in order to start the business properly.
04:28 Yes, and most of our clients are freelancers.
04:34 So, this is what we know as professional.
04:37 So, they are artists, directors, lawyers, doctors, and other contractuals who are not really employed in a company.
04:49 So, sometimes they get sad because they're not employed.
04:53 But when I talk to them, they get uplifted because I said, "It's better if you're registered on your own."
05:03 Because you can do your business to more clients, not just to that company.
05:09 So, as a professional, they just need to get their professional tax receipt or a corporational tax receipt.
05:18 And then, also, they will register in BIR.
05:23 So, they don't have DTI anymore because their own business.
05:29 So, in their official receipt, their name is what's written.
05:33 That's also in the NDI.
05:35 So, what are the important documents and the necessary processes that a businessman should follow before he starts his operation?
05:44 Yes. So, that's what we started with the professional and freelancers.
05:51 They need to get a PTR for those who have PRC ID. These are doctors, lawyers, like me, a certified public accountant, and other professionals under the PRC.
06:05 So, those who don't have PRC ID, they can get an occupational tax receipt in the municipal.
06:14 So, after that, they also need to submit their government ID, billing statement with the address and their name, where they live, and they will submit this to BIR.
06:29 So, why do they need the address?
06:32 So that BIR will know where they are RDO under.
06:39 So, each barangay or municipality has its own regional district office.
06:46 So, you just need to look on the BIR website where you are under RDO.
06:54 Usually, where you live, your RDO is also there.
06:59 So, most of the time, people are afraid to go to BIR, but it's not scary.
07:06 You just need to know where you need to submit your application.
07:10 And also, the application form.
07:13 So, they don't need to memorize the 1901 application form because BIR will teach them.
07:23 So, they are kind.
07:25 It's different when you have a financial coach.
07:29 So, it's a different process, especially our fellow Filipinos who have been working abroad for the longest time,
07:37 who have no idea how to start a business in our country.
07:43 Sir Mark, what is the most important aspect that should be considered before starting a business when choosing the right type of business to enter?
07:57 I'm a sports lover, so I draw my inspiration from athletes and coaches.
08:04 And one of the things I learned is that when you enter a business,
08:11 you need to be ready to accept the possibility of losing.
08:16 Because that's the time when you need to be ready to be successful in your business.
08:20 That's number one.
08:23 So, you need to know where you're good at, your skills, your passion, and also what you can earn.
08:32 We call this "Ikigai".
08:34 This is your guide to what you can earn.
08:37 Because it's easy to say, "I want to enter a business."
08:41 You said that there are a lot of overseas workers who will go home, hard-earned money, and will work hard.
08:50 But it's not clear to them what the business is.
08:53 Some of them are scammers.
08:55 They're the ones who are too good to be true to the offers of businesses.
08:58 They're wasting their hard-earned money.
09:00 Our countrymen abroad want to go home for good in the Philippines.
09:04 They have savings.
09:06 The problem is that they need a guide, a coach like you.
09:09 Yes, and not just our OFWs, but also our fellow Filipinos who are also here in the Philippines.
09:18 The majority of them are just basic minimum wage income.
09:22 I once talked to a nail technician, and he said that he doesn't have a minimum wage.
09:27 So, I told him, "Ate, just go into business.
09:30 Go into home service. I'll teach you."
09:33 Also, in addition to what Coach Mark said, we also need to know where we're going to start.
09:43 So, as a CPA, I always help them to analyze their finances.
09:50 For example, like online sellers, because this is the most rampant.
09:58 Their submission is on April 15, their registration in the BIR.
10:04 So, I teach them what the 8% income tax is, what the percentage tax is, and VAT.
10:12 And also, what the graduated income tax is.
10:15 So, they need to understand that so that they also know what tax type they will choose upon registration.
10:22 For those who are just starting, I always recommend the 8%.
10:26 Why? Because it is the flat rate.
10:29 That tax is already too low.
10:32 So, their gross income, just multiply the 8%, that's already their tax.
10:39 And also, they have P250,000 of exempted income every year.
10:44 So, if they don't have P250,000 in a year, they don't have a tax to pay.
10:50 So, they don't need to worry that, "Oh, my, my tax will be too high."
10:56 So, they don't have to earn anymore.
10:58 They don't have to earn anymore.
11:00 Yes, you can find a lot of people earning on Facebook now.
11:04 They'll just close down.
11:07 Alright, thank you very much for giving us information about how to start a business.
11:14 And of course, for registering and paying the tax,
11:18 Ma'am Ruthie C. Wanson and Sir Mark Wanson, thank you very much.
11:23 Thank you very much.