[The Personal Property Security Act, or Republic Act No. 11057, is the result of House Bill No. 6907 under Committee Report No. 550 and Senate Bill. No. 1459 under Committee Report No. 86. Here is the Fact Sheet for House Bill No. 6907:] Continue reading Personal Property Security Act (Republic Act No. 11057): Fact Sheet of House Bill No. 6907
[The Personal Property Security Act, or Republic Act No. 11057, originated from House Bill No. 6907 under Committee Report No. 550 and Senate Bill. No. 1459 under Committee Report No. 86. For a background what spurred the enactment of Personal Property Security Act, it is helpful to look at the explanations given by the law’s sponsors, including the sponsorship speech of Senator Paolo Benigno “Bam” A. Aquino IV on 22 May 2016. Here’s the full text:] Continue reading Personal Property Security Act (Republic Act No. 11057): Sponsorship Speech under Senate Bill No. 1459
There’s no doubt that a company, in order to be successful, needs both product people, or those who create/develop the product, and marketing/sales people. However, as Apple founder Steve Jobs points out, using IBM and Xerox as examples, a serious problem emerges if the product people are driven out from the decision-making process. In the youtube clip below, Steve Jobs notes, “…so the people that can make a company successful are sales and marketing people, and they end up running the companies. And the product people are driven out of decision-making forms. And the companies forget what it means to make great products.” Continue reading Steve Jobs on Products and Sales People
A number of business persons have been featured in our list of inspiring and successful Filipino entrepreneurs. While the story of business success, in itself, may be considered as inspiring by many, there’s a special ring to rags-to-riches stories.
Almost everyone wants to get rich. And almost everyone recognizes that going into business is one of the best ways to get rich or, at the very least, attain financial sufficiency. Not everyone, however, musters enough resolve to take the first step and actually go into business.
[Graduation season brings a fresh wave of splendid speeches. On 28 March 2015, Lisa Macuja Elizalde gave a commencement speech at the graduation of the School of Humanities and the John Gokongwei School of Management, Ateneo de Manila University Loyola Schools. This fine speech deserves to be read by everyone, especially the young ones. Here’s the full text of the speech.] Continue reading On Ballet, Life and 8 Counts (Commencement Speech of Lisa Macuja Elizalde)
Republic of the Philippines
Congress of the Philippines
REPUBLIC ACT NO. 10644
AN ACT PROMOTING JOB GENERATION AND INCLUSIVE GROWTH THROUGH THE DEVELOPMENT OF MICRO, SMALL AND MEDIUM ENTERPRISES
Senate Bill No. 2046
AN ACT PROMOTING THE REDUCTION OF POVERTY THROUGH THE DEVELOPMENT OF MICRO, SMALL AND MEDIUM ENTERPRISES
The crucial role played by micro, small and medium enterprises (MSMEs) has long been recognized. The established figures are astounding — more than 99% of enterprises in the Philippines are MSMEs. These business entities heavily contribute to economic development and, more importantly, generate employment in a scale larger than big industries. It thus makes absolute sense for lawmakers to pass a legislation that encourages and assists MSMEs during registration, in the conduct of business, and compliance with regulatory requirements.
What to do when one has no business idea and no business capital? The good thing about the query, received through email, is the obvious interest in doing business. It’s important to note that much of the risk in doing business lies in the insufficient understanding of the nature, requirements and prospects of the business. Peter Drucker, widely regarded as a management guru, succinctly noted that “entrepreneurship is “risky” mainly because so few of the so-called entrepreneurs know what they are doing.” There is, therefore, everything to gain in asking questions, especially for new entrepreneurs. Continue reading Business Ideas over Business Capital