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[PRELIMS] PPED
| Term | Definition |
|---|---|
| Business Organization | A legal entity formed to engage in commercial activities, offer goods or services, and generate profit. |
| Enterprise Development | A strategic and multifaceted approach to building and strengthening businesses. |
| Enterprise Development | It focuses on enhancing their capacity, market position, and long-term sustainability. |
| OPC (One Person Corporation) | A special form of corporation that only requires one stockholder. |
| Sole Proprietorship | A business owned and run by one person and in which there is no legal distinction between the owner and the business entity. Simplest and cheapest to register. |
| Cooperative | A business owned and controlled by its members, who operate for their mutual benefit. |
| MSMEs (Micro, Small, and Medium Enterprises) | Small to medium-sized businesses that are vital to the Philippine economy. |
| Micro Enterprises | Operating on a very small scale – sole proprietor, fewer than nine employees, assets: P3M or less. |
| Small Enterprises | Employees between 10 to 99 employees, assets between P3M to P15M. |
| Medium Enterprises | Employees between 100 to 199, assets more than P15M to P100M. |
| CDA (Cooperative Development Authority) | Government agency that cooperatives are registered with. |
| MSMEs | Micro, Small, and Medium Enterprises. A category of businesses based on asset size and number of employees. |
| MSME Development Plan 2023-2028 | A government-led plan aimed at fostering growth, resilience, and innovation in MSMEs. |
| Magna Carta for MSMEs (RA 9501) | [RA-STATUTE] Act to promote entrepreneurship by strengthening development and assistance programs to Micro, Small, and Medium Scale Enterprises. |
| Go Negosyo Act (RA 10644) | [RA-STATUTE] An Act promoting job generation and inclusive growth through the development of Micro, Small, and Medium Enterprises. |
| Ease of Doing Business and Efficient Government Service Delivery Act (RA 11032) | [RA-STATUTE] An Act promoting ease of doing business and efficient delivery of government services. |
| Barangay Micro Business Enterprise (BMBE) Act (RA 9178) | [RA-STATUTE] Allows registration of micro businesses with total assets not more than 3M to avail of benefits such as income tax exemption, and minimum wage exemption. |
| Innovative Startup Act (RA 11337) | [RA-STATUTE] An act providing benefits and programs to strengthen, promote and develop the Philippine Startup Ecosystem. |
| Negosyo Centers | [PROGRAMS&INITIATIVE] One-stop shops providing government services to MSMEs, promoted by the Go Negosyo Act. |
| Go Lokal! | [PROGRAMS&INITIATIVE] Program that allows MSMEs to partner with malls and other establishments to showcase and sell locally-made products. |
| Shared Service Facilities (SSF) Programs | [PROGRAMS&INITIATIVE] DTI provides eligible micro-businesses access to machinery, equipment, tools, skills, and knowledge under shared system to improve productivity. |
| Small and Medium Enterprise Roving Academy (SMERA) | [PROGRAMS&INITIATIVE] Offers continuous learning for MSMEs, aiming to make them competitive in domestic and international markets |
| Pondo sa Pagbabago at Pag-asenso (P3) | [PROGRAMS&INITIATIVE] A program managed by SB Corp. that provides alternative financial sources for MSMEs. |
| Covid-19 Assistance to Restart Enterprises (CARES) | [PROGRAMS&INITIATIVE] Interest-free loans to MSMEs to help businesses recover from the economic impacts of the pandemics. |
| Helping the Economy Recover through OFE Enterprise Startups (HEREOS) | [PROGRAMS&INITIATIVE] Provides loans to repatriated OFWs to help them start businesses. |
| MSME Credit Guarantee Program (MCGP) | [PROGRAMS&INITIATIVE] Offers guarantees to increase the availability of credit from banking sector for MSMEs |
| Startup Grant Fund (SGF) | [PROGRAMS&INITIATIVE] Grants to support startups and SMEs in their research and development activities. |
| Startup Venture Fund (SVF) | [PROGRAMS&INITIATIVE] DTI managed fund provides strategic investment and resources to promising startups. |
| Venture Financing Programs | [PROGRAMS&INITIATIVE] Soft loans (zero interest, zero collateral) to help startups and SMEs commercialize innovations. |
| Kapatid Mentor Me Project | [PROGRAMS&INITIATIVE] Offers coaching and mentoring from large corporations to help MSEs in various aspects of business operations |
| Philippine Trade Training Center (PTTC) | [PROGRAMS&INITIATIVE] Offers training programs on various aspects of business, including product and market trends, standards, restrictions, costing and pricing and distribution systems. |
| 3M On Wheels | [PROGRAMS&INITIATIVE] Free nationwide mentorship program provides capacity-building development for entrepreneurs through onsite mentorship encounters |
| Small Enterprise Technology Upgrading Program (SETUP) | [PROGRAMS&INITIATIVE] Provides equipment and technical assistance to help MSMEs adopt technological innovation by DOST-NCR |
| Digital-PINAS | [PROGRAMS&INITIATIVE] Aims to enhance digital transformation hubs in remote areas, providing MSMEs with internet access, e-commerce platforms, and digital payment services |
| Technology Innovation for Commercialization (TECHNICOM) and Youth Empowerment through Technopreneurship (YET) | [PROGRAMS&INITIATIVE] Offers funding and support for start for startups in the pre-commercialization stage |
| MSMED Council | [ORGS] Micro, Small and Medium Enterprise Development Council |
| DTI | [ORGS] Department of Trade and Industry |
| DICT | [ORGS] Department of Information and Communications Technology |
| DOST | [ORGS] Department of Science and Technology |
| ARTA | [ORGS] Anti-Red Tape Authority |
| Sole Proprietorship | A business owned, managed, and controlled by a single person. The owner receives all profits but is also liable for all debts. |
| Partnership | A business owned by two or more individuals who agree to share in the profits or losses of a business. Partners have joint liability and is responsible for the partnership's debts and obligations. |
| General Partner | A partner who shares ownership and management of the business and has unlimited liability. |
| Limited Partner | A partner with limited financial liability who does not take active roles in the management of the firm. |
| Corporation | A legal entity separate from its owners (shareholders), created by law, with its own rights and liabilities. |
| Stock Corporation | A corporation where the capital is divided into shares of stock, allowing the distribution of corporate earnings to shareholders based on their shareholding. |
| Non-Stock Corporation | A corporation where capital comes from fees paid by individuals comprising it |
| One-Person Corporation (OPC | a corporation with a single stockholder, sole director, and president. |
| (1) Business Idea and Planning | [BUS-ESTAB-STEPS] Identify a viable business idea and create a detailed business plan with goals, target market, marketing strategies, and financial projections. |
| (2) Choose a Business Structure | [BUS-ESTAB-STEPS] Select the appropriate business structure (Sole Proprietorship, Partnership, Corporation, or Cooperative) based on the resources and the business needs. |
| (3) Choose a Business Location | [BUS-ESTAB-STEPS] Consider factors like foot traffic, accessibility, and zoning regulations when selecting a business location. Negotiate lease agreements if needed. |
| (4) Choose a Business Name | [BUS-ESTAB-STEPS] Select a unique and available name (have multiple options) |
| (5) Comply with Zoning and Building Regulations | [BUS-ESTAB-STEPS] Ensure the business location complies with local government unit (LGU) zoning and building codes. |
| (6) Obtain Business Permits and Licenses | [BUS-ESTAB-STEPS] Get a Mayor's Business Permit from the LGU and clearances from relevant agencies (Barangay, Fire Department, Health Department). |
| (7) Register with the Bureau of Internal Revenue (BIR) | [BUS-ESTAB-STEPS] Obtain a Tax Identification Number (TIN) and comply with tax obligations. |
| (8) Register Books of Accounts | [BUS-ESTAB-STEPS] Register the business's books of accounts with the BIR and secure an Authority to Print (ATP) for official receipts and invoices. |
| (9) Register Employees for Social Benefits | [BUS-ESTAB-STEPS] f hiring employees, register them with SSS (Social Security System), PhilHealth, and Pag-IBIG. |
| (10) Secure Other Regulatory Approvals | [BUS-ESTAB-STEPS] Obtain necessary clearances and permits from other government agencies like FDA or DOLE, depending on the nature of the business. |
| (11) Open a Business Bank Account | [BUS-ESTAB-STEPS] Manage business finances separately from personal funds. |
| (12) Develop a Marketing Strategy | [BUS-ESTAB-STEPS] Create a plan for promoting products or services using traditional or non-traditional methods. |
| (13) Regularly Renew Permits, Licenses, and Registration | [BUS-ESTAB-STEPS] Stay informed about changes in laws, regulations, and tax requirements to stay compliant. |
| (14) Submit Required Reports and Filings | [BUS-ESTAB-STEPS] Regularly file tax returns and other required reports with the BIR. |
| Business Name (BN) Registration | [SOLE-PROPRIE-TERMS] The process of registering a business name with the Department of Trade and Industry (DTI). |
| Certificate of Business Name Registration (CBNR) | [SOLE-PROPRIE-TERMS] A document issued by the DTI as one of the requirements to open a bank account, apply for business permits and conduct other transactions related to the business. |
| Dominant Name | [SOLE-PROPRIE-TERMS] The main identifying words or numerals attached to your business name |
| Descriptor | [SOLE-PROPRIE-TERMS] A word or group of words describing the nature of the business. |
| Securities and Exchange Commission (SEC) | [PARTNER-CORP-TERMS] The agency responsible for registering Partnerships/Corporations. |
| Articles of Partnership (AP) | [PARTNER-CORP-TERMS] An agreement between partners that outlines the roles, responsibilities, and profit-sharing structure of the partnership. |
| Name Verification Slip | [PARTNER-CORP-TERMS] Required document to show that proposed partnership/corporation name is available. |
| Articles of Incorporation and By-Laws | [PARTNER-CORP-TERMS] Check the document presented. |
| DTI | [TERMS] the government agency that handles the registration of business name for sole proprietorships. |
| LGU | [TERMS] Local Government Unit; the office that is responsible for zoning regulations and building codes |
| BIR | [TERMS] responsible for the collection of taxes and administering the tax laws of the Philippines. |
| TIN | [TERMS] serves as a unique identifier for individuals or businesses required to pay taxes. |
| ATP | [TERMS] document is required when one needs to print official receipts and invoices. |
| SSS | [TERMS] provides social security protection to workers in the Philippines |
| PhilHealth | [TERMS] provides health insurance to Filipino citizens. |
| Pag-IBIG | [TERMS] National savings program and affordable housing financing for Filipino workers. |
| FDA | [TERMS] the national government agency mandated to formulate policies, implement programs and services, and serve as the policy-coordinating arm of the Executive Branch in the field of labor and employment. |
| Barangay Micro Business Enterprise (BMBE) | [TERMS] A company or enterprise with total assets not exceeding Php 3,000,000. |
| Capital | Refers to the resources an entrepreneur uses to start, operate, and grow a business |
| Human Capital | [CAPITAL-TYPE] The skills, knowledge, and experience that entrepreneurs and employees contribute to the business |
| Social Capital | [CAPITAL-TYPE] Value derived from positive connections between people. It's the relationship we have with others; the knowledge we share; our individual brand and our processes |
| Financial Capital | [CAPITAL-TYPE] The money used to start and grow a business |
| Intellectual Capital | [CAPITAL-TYPE] Intangible value derived from knowledge, skills, and processes created from ideas and innovations; provides a competitive advantage and protects unique business offerings |
| Physical Capital | [CAPITAL-TYPE] Consists of the tangible, human-made assets used to produce goods and services |
| Fixed, Working, & Growth Capitals | Capital Requirements for Business (FWG) |
| Fixed Capital | [CAP-REQU-BUS.] The money needed to purchase fixed assets or capital goods |
| Working Capital | [CAP-REQU-BUS.] Fund that you need for day-to-day operations of the business. |
| Growth Capital | [CAP-REQU-BUS.] Not related to daily or seasonal requirements for funds of the business; needed for business expansion, diversification, or change in directions. |
| Start-up Expenses, Startup Asset, & Recurring Costs | Types of Expenses (SSR) |
| Start-up Expenses | [EXP-TYP] Expenses incurred when starting a business (e.g., Legal Business Registration, Logo Design, Initial Website Design, Business Insurance, Payroll, |
| Start-up Assets | [EXP-TYP] Assets that you have during the start up of a business (Cash in the Bank, Starting Inventory, Other Current Assets, Office Furniture |
| Recurring Costs | [EXP-TYP] Costs that happen consistently (Rent, Utilities, Payroll, Inventory, Marketing) |
| Self-Funding | [FINCAP-SOURCES] Using your own money to start a business through Savings. |
| Family & Friends | [FINCAP-SOURCES] Borrowing informally from relatives or close contacts (often low or no interest). |
| Paluwagan | [FINCAP-SOURCES] A community savings/credit system. |
| 5-6 Lending | [FINCAP-SOURCES] Quick cash but very high interest (20% monthly or more) |
| Commercial Banks (BDO, BPI, Metrobank, Landbank, etc) | [FINCAP-SOURCES] Offer business loans, credit lines, and SME financing. |
| Thrift Banks & Rural Banks | [FINCAP-SOURCES] Easier requirements, cater to small entrepreneurs (especially in provinces) |
| Cooperatives & Credit Unions | [FINCAP-SOURCES] Member-based financing; easier than commercial banks. |
| BY DTI: Pondo ng Pagbabago at Pag-asenso | [FINCAP-SOURCES] micro-loans from P5,000 to P20,000 at low interest |
| BY DTI: Share Service Facilities | [FINCAP-SOURCES] equipment lending support |
| BY SMALL BUS. CORP: RISE UP loans | [FINCAP-SOURCES] for recovery and expansions of MSMEs |
| BY SMALL BUS. CORP: Land Bank of the Philippines: | [FINCAP-SOURCES] Loans for agriculture, fisheries and SMES. |
| Development Bank of the Philippines | [FINCAP-SOURCES] Financing for manufacturing, logistics, infrastructure. |
| Philippine Guarantee Corporation | [FINCAP-SOURCES] Provides loan guarantees to help MSMEs access credit from banks. |
| Online Lending Platforms | [FINCAP-SOURCES] Offer quick access to capital with streamlined digital applications (e.g., Mayal Flexi Loans). |
| Angel Investors | [FINCAP-SOURCES] Wealthy individuals who fund start-ups in exchange for equity. |
| Venture Capitalists | [FINCAP-SOURCES] Financing high-growth start-ups, usually tech-driven companies (e.g., Kickstart Ventures, Foxmont Capital. |
| Crowdfunding Platforms | [FINCAP-SOURCES] A way to raise money for an individual or organization by collecting donations through family, friends, friends of friends, strangers via the internet |
| Supplier/Trade Credit | [FINCAP-SOURCES] Delayed payment arrangements for goods and inventory. |
| Debt Financing | Taking out a conventional loan through traditional lenders with the promise to repay with interest over a set period. |
| Equity Financing | Selling a stake in your business to raise working capital. |
| Ownership Retention | [DEBT-FIN-CHAR] Borrowing the money does not dilute your ownership of the business. |
| Predictable Repayments | [DEBT-FIN-CHAR] Debt has a set repayment schedule. |
| Tax Benefits | [DEBT-FIN-CHAR] Interest payments are often (usually) tax-deductible |
| No Repayment Obligation | [EQUI-FIN-CHAR] The business is not required to pay back the investment. |
| Ownership Dilution | [EQUI-FIN-CHAR] You will give up partial control of your company in exchange for the funds. |
| No Tax Benefits | [EQUI-FIN-CHAR] No tax-deductible benefits. |
| Long-Term Commitment | [EQUI-FIN-CHAR] Investor waits until the company grows; even the business goes wrong |
| Philippine Labor Law (PD442, as amended) | This law states any doubts in interpreting the Labor Code will be resolved in favor of labor and against management |
| Security of Tenure, Just and Humane Conditions of Work, Right to Self-Organization, Social Injustice, & Right to security of Tenure (SJRSR) | Labor Code Key Principles (SJRSR) |
| Security of Tenure | ]A Key Principle of the Labor Code]: Employees have the right to be dismissed for "just" or "authorized" causes. |
| Just and Humane Conditions of Work | [A Key Principle of the Labor Code]: Ensuring fair and safe working environments. |
| Right to Self-Organization | [A Key Principle of the Labor Code]: The right of workers to form or join unions. |
| Social Justice | [A Key Principle of the Labor Code]: Fair treatment and equal opportunities for all workers. |
| Right to security of tenure | [A Key Principle of the Labor Code]: Employees have a "right to security of tenure” and can only be dismissed for "just” or “authorized” causes as defined in the Labor Code of the Philippines |
| Probationary Employment | [PROB-STATUSES] A trial period for a new employee. Governed by Article 296 of the Labor Code, with a maximum duration of 6 months from the start date. Probationary employees have specific rights like minimum wage |
| Regular Employment | [PROB-STATUSES] Occurs after an employee successfully passes the probationary period. Characteristics include security of tenure, continuity of work, and full benefits. |
| Fixed-Term Employment | [PROB-STATUSES] Hiring an employee for a specific, predetermined period, ending automatically upon the agreed expiration date. Must be knowingly and voluntarily agreed upon. |
| Seasonal Employment | [PROB-STATUSES] Work tied to a particular season or period of the year. Employment is co-terminous with the season and recognized under Article 295 of the Labor Code. Includes the same rights and benefits as regular employees, except security of tenure. |
| Project Employment | [PROB-STATUSES] Hiring someone for a specific project. Recognized under Article 295 of the Labor Code. Includes the same rights and benefits as regular employees, except security of tenure. |
| Yes | If Project Employments are employed for at least 1 year, are they entitled to separation pay? |
| Casual Employment | [PROB-STATUSES] Engaging an employee to perform work that is not usually necessary or desirable to the usual business of the employer. Includes the same rights and benefits as regular employees, except security of tenure |
| Equal Work Opportunities for All | [FIL-EMP-BAS-RIG] Protecting labor, providing equal work, promoting employment regardless of race, gender, or creed, and regulating relationships with their employees. |
| Work-Days and Hours | [FIL-EMP-BAS-RIG] Normal hours are 8 hours/day or 48 hours/week. Additional pay for overtime or night shift duty. |
| Weekly Rest Day | [FIL-EMP-BAS-RIG] At least 24 hours of uninterrupted rest day after every six consecutive working days. |
| Wage and Wage-Related Benefits | [FIL-EMP-BAS-RIG] Minimum wage is set by Regional Tripartite Wages and Productivity Boards. Appropriately compensating employees is a direct violation of the law. Payment of wages must be paid directly to employees and given every two weeks. |
| Female Employees | [FIL-EMP-BAS-RIG] Restrictions on night work, with exemptions under specific rules. Industrial work may be conducted between 12 AM and 6 AM, provided that they have had nine consecutive hours of rest time. Welfare facilities are required |
| Employment of Children | [FIL-EMP-BAS-RIG] The minimum working age is 15 years old and work permits are required. |
| Safe Working Condition | [FIL-EMP-BAS-RIG] The law states that the employer must provide safety precautions to protect employees against sickness, injury, or death. |
| Rights to Self-Organization and Collective Bargaining | [FIL-EMP-BAS-RIG] Workers have the right to self-organize and join unions to take part in collective bargaining. |
| Social Security System (SSS) | [FIL-EMP-BAS-RIG] A social insurance program for sickness, disability, retirement, death, and funeral benefits. |
| Home Development Mutual Fund (Pag-IBIG) | [FIL-EMP-BAS-RIG] A national savings and affordable housing finance program. |
| Philippine Health Insurance Corporation (PhilHealth) | [FIL-EMP-BAS-RIG] A national health insurance program that provides Filipinos with financial aid and access to affordable healthcare services. |
| 13th-month Pay | [GOV-MAN-BEN] A monetary bonus mandated by law for any private employee with a fixed or guaranteed salary rendered work for at least one (1) month. |
| Overtime Pay | [GOV-MAN-BEN] Additional compensation for work beyond eight (8) hours. |
| Premium Pay | [GOV-MAN-BEN] Extra pay for employees who work on official holidays or rest days. |
| Night Shift Differential | [GOV-MAN-BEN] Additional compensation for work between 10 PM and 6 AM. |
| Separation Pay | [GOV-MAN-BEN] Compensation for workers terminated from a company. |
| Retirement Pay | [GOV-MAN-BEN] For employees who've reached 60 years of age or more with at least five (5) years of service. |
| Service Incentive Leave (SIL) | [LEAVE-BEN] Eligible employees are required to be provided with 5 paid days off per year. |
| Vacation Leave | [LEAVE-BEN]While not mandated by law, several companies grant this leave to employees to attend to personal matters. |
| Sick Leave | [LEAVE-BEN] Sick leaves are taken by employees who are not fit to work due to illnesses or disabilities. |
| Maternity Leave | [LEAVE-BEN] Female employees are entitled to a maternity leave of 105 days for a normal delivery and 120 days for a cesarean section (C-section) delivery. This can be extended for another 30 days without pay. |
| Paternity Leave | [LEAVE-BEN] Male employees who are legally married to a female employee who gave birth are entitled to paternity leave of seven (7) days, which can be taken consecutively or separately, within the first four (4) weeks after childbirth. |
| Parental Leave for Solo Parents | [LEAVE-BEN] Entitles eligible solo parents to not more than 7 working days with full pay per year. |
| Leave for Victims of Violence Against Women and Their Children | [LEAVE-BEN] Entitles affected female employees to up to 10 days of paid leave. |
| Bereavement Leave | [LEAVE-BEN] not among the mandatory leaves. |
| Special Leave for Women | [OTHER-LAWS] Female employees who underwent surgery due to gynecological disorders are granted two (2) months of special leave with full pay (Republic Act 9710, Sec 18). |
| Flexible Work Arrangements | [OTHER-LAWS] reduced working hours, telecommuting, or job sharing, to help them balance their work and family responsibilities. |
| Breastfeeding Break | [OTHER-LAWS] A nursing employee shall be granted paid breaks in addition to the regular time off for meals to breastfeed their child. |
| Scaling Up | The process of growing a company. |
| Valuation | The process of determining the economic worth of a business or asset. |
| Business Growth | "Adding resources (staff, capital, equipment) and seeing a proportional increase in revenue." Characterized by linear progress |
| Business Scaling | Increasing revenue and customer base at an exponential rate with only minimal, incremental increase in resources. Characterized by non-linear progress |
| Delegation | From doing everything to trusting the team to execute. |
| Vision | The long-term aim or desired outcome of a business |
| Mission | The actions we take that help us reach our vision. |
| Core Values | What guides us as we make decisions. |
| Key Results Areas | Asks "what am I individually responsible for?" |
| Key Performance Indicators | Asks "how do I know I am successful?" |
| Point of Sale system. | Enumerate POS |
| Enterprise Resource Planning system. | Enumerate ERP |
| Customer Relationship Management system. | Enumerate CRM |
| Discounted Cash Flow, a valuation method. | Enumerate DCF |
| Earnings Before Interest, Taxes, Depreciation, and Amortization | Enumerate EBITDA |
| Recurring Revenue | Predictable Cash Flow and Significantly higher valuation multiple |
| Low Customer Churn | Stable revenue base and Higher customer lifetime value |
Created by:
RamRamRam