User talk:Gelliescarodan

'''Jose Rizal University Management 44 Dr. Gallardo

Group 1'''

1. What makes a small business beautiful? -One of the major advantages of small businesses is that the investment for running the business is not a major issue. Small business grants, financial aid and economic support is readily available to persons owing a small scale business. These grants are issued to business owners from government run programs to banks and other big business corporations. In fact there are several industries that are willing to provide small business grants. Due to this a person can start his own small scale business by applying for loans and/or credits via a hassle free process. -Another advantage of small businesses is that it is very easy to record business transactions. Keeping track of business dealings in a small business can be easily maintained and updated regularly. A business owner can setup an accounting system on his PC and store all the transactions that the business makes. Most accounting responsibilities in a small business are easily manageable. Additionally keeping a cash transaction record is easily maintainable in a small business. Additionally keeping a cash transaction record is easily maintainable in a small business.

 2. What are the common characteristics of a small business? -It is independent. -Manage by a single proprietor

'''3. Magna Carta definition of Small Business from: http://www.dticebu.net.ph/Library/Magna%20Carta%20for%20Small%20Enterprises%20-%20RA%206977.pdf'''

-SEC. 3. Small and Medium Enterprises as Beneficiaries. – “Small and Medium Enterprise” shall be defined as any business activity or enterprise engaged in industry, agribusiness and/or services, whether single proprietorship, cooperative, partnership or corporation whose total assets, inclusive of those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, must have value falling under the following categories: Micro : less than - P1, 500,001 Small : P1, 500,001 - P15, 000,000 Medium : P15, 000,001 - P60, 000,000 The above definitions shall be subject to review and adjustment by the said Council motu proprio or upon recommendation of sectoral organization(s) taking into account inflation and other economic indicators. The Council may use as variables the number of employees, equity capital and assets size.” -SEC. 4. Eligibility for Government Assistance. – To qualify for assistance, counseling, incentives and promotion under this Act, businesses falling under the above definition must be: a) duly registered with the appropriate agencies as presently by law: Provided, that in the case of micro enterprises as defined herein, registration with the office of the municipal or city treasurer shall be deemed sufficient compliance with this requirement: b) one hundred percent (100%) owned and capitalized by Filipino citizens if single proprietorship or partnership. If the enterprise is a juridical entity, Filipino citizens must own at least sixty percent (60%) of its capital or outstanding stocks. c) a business activity within the major sectors of the economy, namely: industry, services, including the practice of one's profession, the operation of tourism-related establishments, and agri-business, processing, and/or production of agricultural produce, excluding farm level agricultural/crop production; and d) it must not be a branch, subsidiary or division of a large scale enterprise nor may its policies be determined by a large scale enterprise or by persons who are not owners or employees of the enterprise. However, this requirement shall not preclude a small and medium enterprise from accepting subcontracts from large enterprises of firms joining in cooperative activities with other small and medium enterprises. Programs of the financing corporation as provided in subsequent Sections of this Act shall be exclusively targeted to medium, small, and micro-sized enterprises. Registered small enterprises shall be entitled to a share of at least ten percent (10%) of total procurement value of goods and services supplied to the Government, its bureaus, offices and agencies annually: Provided, that prices and quality of goods offered by the registered small enterprises are competitive.

4. Explain 2/3 causes of small business failure. -Lack of Managerial Skills\ -Inadequate cash reserves. If you don't have enough cash to carry you through the first six months or so before the business starts making money, your prospects for Success are not good. Consider both business and personal living expenses when determining how much cash you will need. -Choosing a business that isn't very profitable. Even though you generate lots of activity, the profits never materialize to the extent necessary to sustain an on-going company.

5. Give 1 program of the government for the development of micro/small business. -PCCI, Sen. Kiko Pangilinan, DTI Launch Program to Boost Countryside Micro, Small &amp; Medium Enterp  	 PDF  	 Print  	 E-mail

PCCI President Donald Dee, Sen. Pangilinan and DTI Secretary Juan Santos launched this program today and formally signed a Memorandum of Agreement at the Amorsolo Room of the Heritage Hotel.

Dubbed PROPEL Development – or Promoting Regional Opportunities for Enterprise and Livelihood Development -- this program envisions to help increase economic activities in twenty (20) pilot provinces in Luzon, Visayas and Mindanao in support of the government’s poverty alleviation and job creation thrust. This is also consistent with the Medium-Term Philippine Development Plan (MTPDP) 2004-2010 and the SME Development Plan 2004 –2010. Sen. Pangilinan emphasized that the overall vision of PROPEL “is to create globally-competitive Philippine MSMEs by providing them with access to business opportunities; comprehensive financial and administrative support; training; as well as build the capabilities of government units and institutions that generate and implement programs for MSME development.”

Pangilinan stressed that “to ensure a more widespread and equitable distribution of economic growth, we have to bring opportunities and competencies to untapped areas in the country, particularly the countryside. A project such as PROPEL Development is a prime example of how the PDAF that comes from the people goes back directly to the people. At the same time, the tripartite project is a good model for showcasing the tremendous potential of public sector – private sector partnership.“ Pangilinan allocated P21 million of this PDAF to the project.

According to Secretary Santos, “over 99 percent of companies belong to the MSME sector and it is imperative that we assist them. That is why we have linked up with PCCI and its extensive network of local chambers and industry associations so that our programs can reach many of these MSMEs.” He hailed the landmark agreement as proof that the different branches of government and the private sector can effectively work hand in hand.

Dee said that “the focus of PCCI and its entire national chamber network is the development of MSMEs to address the pressing issue of poverty in the country.” He added that “a dynamic MSME sector is critical if we want to create jobs and achieve sustainable growth.

He explained that through this partnership with Sec. Pangilinan and the DTI, “we hope to put in place support systems that will strengthen MSMEs in the countryside.” Dee added that that this can be done by “strengthening partnerships in the regions among the local government units, local chambers and other community stakeholders.” Chambers, in cooperation with LGUs, will identify the specific products and activities that they will prioritize in their respective areas.

The program involves the following major thrusts:

1. Implementation of an advocacy program to improve the policy environment for MSMEs in the identified areas;

2. Implementation of specific projects to improve capabilities of business support organizations (BSOs) such as local chambers of commerce and industry (LCCIs) and industry/sectoral associations to provide relevant business support services;

3. Implementation of technology-transfer activities to facilitate the adoption by MSMEs of effective production and marketing techniques to increase their competitiveness;

4. Conduct of management and skills training courses for existing and prospective entrepreneurs and their workforce;

5. Adoption of innovative mechanisms to create market linkages and relationships between enterprises towards the development of the supply and value-chain; and

6. Provision of consultancy and technical assistance to access financing.

-from http://www.philippinechamber.com/index.php?option=com_content&view=article&id=115%3Apcci-sen-kiko-pangilinan-dti-launch-program-to-boost-countryside-micro-small-aamp-medium-enterp&Itemid=172

6. What is an entrepreneur? -An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome. -"one who undertakes an enterprise, especially a contractor, acting as intermediatory between capital and labor."

7. Enumerate the characteristics of entrepreneur.

-  1. Discipline: Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline. To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun. When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early. Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence). 2. Calm: Things go wrong when you run your own business. Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem. Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder. If an entrepreneur can handle failure without frustration or anger, he can move past it to find success. 3. Attention to Detail: Restricting your attention to the big picture can be even more problematic than ’sweating the small stuff.’ As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down. Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar. After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details. 4. Risk Tolerance: No entrepreneur has a sure thing, no matter how much money he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business. It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk. You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great. An entrepreneur has to be willing to accept pretty big risks, with some level of comfort. 5. Balance: You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response. As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though. Just as an entrepreneur doesn’t have a boss to keep him at work when necessary, he doesn’t have one to send him home when he’s done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

8. What are the determinants of successful entrepreneurship? - Smooth sailing business - Long market age - Well-manage business - Profit average is increasing.

Group Secretary, thanks!

Group mates, pakidagdagan nlng ng information then paprint nalng so that everyone has a copy. God Bless sa atin! Aja!

---group leader <^^>

Gelliescarodan (talk) 07:52, 10 November 2010 (UTC)