[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
[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
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
“It is widely accepted that small and medium enterprises play a veryimportant and significant role in the economic and social development of a country”. This is an acknowledgment by the Philippine government itself, through the Department of Trade and Industry (DTI) in its 2004-2010 SME Development Plan. Continue reading
It’s easy to talk about business and entrepreneurship — how it’s done, tips in running a successful business, top business prospects for the year, business ideas with huge potentials, and just among the myriad of topics that could be discussed by just about anyone.
Last year, we noted that the Department of Labor and Employment (DOLE) is trying to address the problem of at least a million “discouraged workers“, or jobless people available for work but are not actively seeking employment, as well as the prevailing skills mismatch among workers. According to a report, “jobseekers have difficulty finding jobs because they possess skills that are not needed by companies.” It takes “months or almost a year for employers to find the right workers to fill in vacancies in their companies,” the report quotes Criselda Sy, director of DOLE’s Bureau of Local Employment. Continue reading
It’s never easy to be an entrepreneur. Many individuals who tried their hands on the entrepreneurial game must have realized this a few months into the business. One of the challenges facing an entrepreneur is the fact that he/she must perform a number of distinct roles.
After the two previous discussions on the basic elements and the title of a contract, this is the third installment of the “Contract Series.” This series is a step-by-step discussion of the basic elements and standard provisions of a contract, which is a basic business tool. It is, of course, safe to assume that Pinoy Entrepreneurs are familiar with the nuts and bolts of contracts, but a short discussion certainly won’t hurt. Continue reading
[Note: The original text of RA 6977, BEFORE it was amended by RA 9501, was previously known as the “Magna Carta for Small Enterprises” (click here for the consolidated laws). RA 9501 introduced a number of changes. RA 6977 was approved on 22 January 22 1991, RA 8289 on 6 May 1997, and RA 9501 on May 23, 2008.] Continue reading
There are problems with this title. First, it might be interpreted to refer to a particular person. While we have a category on (and some lists of) successful and inspiring Pinoy Entrepreneurs, the thrust of this article is not to identify any particular Pinoy Entrepreneur, but to characterize an entrepreneur. Having a characterization would make it much easier to identify specific Pinoy Entrepreneurs. This may be of particular interest considering that an overwhelming majority are not cowed with the current recession in other countries and would still try business in 2009. Continue reading