Smart
Beginning
Happy New Year!!!! With this greeting comes the wish for
prosperity and success to each and every one of you.
As the year 2006 begins, let us all throw away the old
and welcome in the new. Discard that which destroys and
collect that which bears fruit. Accept the failures, learn
from the mistakes, and move on to something better. Let
us all maintain the presence of mind to live each day to
the fullest with our eyes wide open.
Going into business requires one to have a full
and complete consciousness of all the requirements and obligations
that come along with starting an enterprise. An entrepreneur’s
focus should not only be on the 4 P’s (product, people,
place, and promotion). He should also pay close attention
to administration.
As you start to organize your business, find out
all the laws and regulations that may affect it. With the
present government trying to encourage small and medium
enterprises, there are incentives offered both in the local
and national level to all whose businesses should qualify.
These may vary depending on the nature of the business,
the capitalization, the number of individuals employed,
and some others. Check your local government business offices
or better yet, a corporate, tax, or business lawyer if you
know any. Nonetheless, I will try to get the information
for you and have it here in the coming issues.
I have often talked about how important the people factor
is in a business. Pay very close attention to the
National Labor Code. Do not take this part for granted for
labor issues are never easy to handle. More so
if one ends up hiring individuals who might later on turn
against the employer/organization. I cannot remind you enough
to fully understand the laws pertaining to employment and
all the mandates connected to this. You wouldn’t want
to find yourself a respondent to a complaint made by your
employee at the National Labor Relations Commission (NLRC).
It will be safe to say that 99% of the time, arbitration
will tend to favor the laborer more than the employer.
I do not write this to give you second thoughts from starting
a business. My only intention is for you to enter the agreement/contract
with your employees carefully. In your planning
stage, determine how many people you need to hire and their
specific responsibilities and skills requirements. Stick
to the most efficient minimum. Think if you will need them
full-time, part-time, or on a contractual basis. I suggest
that you have a contract for the employee to sign indicating
all the important details such as tenure, pay, job description,
and work schedule. Any changes that should occur
in the future should be put on paper as well. This document
is the employer’s only protection should an untoward
event take place in the future. But then again, there should
not be any cause for concern or worry if you treat your
employees with respect and give them their due.
I strongly believe that entrepreneurship is a probable
answer to the call for social responsibility and action.
This is a tool available to all of us to make a difference
in the lives of our fellow Filipinos.
Begin the year on a good footing. Be clear. Be good. Be
smart.
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