Help for Would-Be Entrepreneurs

After finding out about the free briefing sessions offered by the Department of Trade and Industry, I explored their website to see what other services they offered entrepreneurs or those who are still on the planning stage. It was a pleasant surprise that to learn that DTI has business counselors who provide free counselling services to would-be or existing entrepreneurs. To those who have no time to visit any of DTI’s MSME Centers, there’s a host of resources available on the website that can be downloaded to guide you in planning and starting your business. If you’ve started your business and are looking for software solutions to give your workflow a boost, particularly when it comes to the financial side of things, try lease accounting software to help you out so that you can spend more time dealing with other important issues.

Starting a Business

The Start Your Business section includes downloadable handbooks to help you brainstorm on a business idea. If you need help creating your own Business Plan, there’s a sample available and a thorough explanation on how you can identify the factors that are critical to your business. The most helpful information I found here are the downloadable files for various business ideas such as Beauty Salon, Herbal Bath Soap, Water Refilling Station, and various food products. There’s a handy business primer for each business type that details how much investment one needs to start the business, computations of product costs and projected income, and even suggestions on where to borrow capital for your new business venture. If you would like any extra help planning your product or sourcing a manufacturer for your product then you might want to look at the services Gembah offer. Now you would know that your business would not just comprise of you and that you would need all the help you need to expand and grow your venture. Protecting your business, which relies on the skills and activities of the individuals involved in your business is of utmost importance. In cases such as these, you could decide to not only get insurance for your business, but also for key employee insurance, which makes your business the beneficiary. Losing an important member of your team to an unfortunate event could surely mean the demise of your company, which is surely not a desirable option for your newly started venture.

Micro, Small, and Medium Enterprise (MSME) Centers

I haven’t been to one so I can’t tell how helpful they really are but from the information in the DTI website, you can apparently get free business counseling from MSME Centers nationwide.

MSME Centers provide business consultancy and advisory services; MSME information brochures, newsprints, and business reports; assistance in preparation of feasibility studies and business plans; and coordination of entrepreneurship and management training. They also facilitate business name registration and business linkages between buyers and suppliers.

These services would indeed be very helpful to those who want to start their own businesses this year. If you are a would-be entrepreneur, do go to www.dti.gov.ph for more information on how to set up your own business.