How to start a retail business?
1. Register the Business Name at the Department of Trade and Industry (for Single Proprietorships) or the Securities and Exchange Commission (for Partnerships and Corporations).
The business name is valid for five years. The law governing the registration of business name is Act No. 3883, as amended by Act No. 41476 and R.A. No. 863, otherwise known as the Business Name Law.
2. Get a Mayor’s permit from the municipality or city where the business is located. The permit is valid for one year.
3. Apply for an Employer’s Tax Identification Number (TIN) at the Bureau of Internal Revenue (BIR).
4. Apply for Authority to Print Receipts and Invoices at the BIR.
5. Investors should register for a Social Security System (SSS) Certificate.
6. For businesses with five or more employees, owners must register with the Department of Labor and Employment (DOLE).
What are the opportunities in the retail sector?
1. HARDWARE AND CONSTRUCTION SUPPLY STORE
PDF from TRC titled Setting up a Hardware and Construction Supply Store
Source: National Statistics Office, Department of Trade and Industry