These days, more and more Filipinos are putting up online businesses, offering a wide variety of products and services. With the ease of conducting transactions online and the convenience of dealing directly with clients, succeeding in this venture is definitely possible. However, many tend to overlook one important matter in sustaining the business: making it legitimate.
Just like traditional businesses, online businesses also need to be registered with the appropriate government agencies. This will not only help build the brand’s credibility, but will also make the business sustainable especially when significant opportunities come in.
The good news is, registering a business is no longer as complicated as it used to be. Government agencies have been digitizing certain processes, which means you won’t need to travel far or line up for hours to get a single task done.
Here are the steps to registering your online business:
Register with the Department of Trade and Industry (DTI) or Securities and Exchange Commission (SEC).
Determine if it’s a solo venture or if you want to bring in a partner(s). This is important, as the registration for sole proprietors and partnerships/corporations are different.
If you’re a sole proprietor, register your business name with the DTI. You may do it online via https://www.bnrs.dti.gov.ph/registration or visit any DTI office.
If you have business partners, register with the SEC. Create an account at https://crs.sec.gov.ph/ and fill out the digital forms. Alternatively, you may also do it in person at the nearest SEC office in your own cities and provinces.
Secure a Mayor’s Permit. This may be acquired from your local city hall. Make sure to bring the following:
Original and photocopy of DTI/SEC registration documents
Two valid IDs
Proof of your address (such as your contract with your landlord or the land title of your residence)
Obtain a tax identification number (TIN).
Yes, online entrepreneurs are not exempt from paying taxes. Go to the Bureau of Internal Revenue (BIR) in your area, apply for a TIN, and secure an authority to print your own official receipt. Don’t forget to bring the following:
A valid ID
A photocopy of the Mayor's Permit, or - in case it's still being processed - the acknowledgement that your application for one has been received
A photocopy of the DTI/SEC documents
In case you have an existing TIN, be ready to present a proof of your payment of Annual Registration Fee.
When you drop by these government agencies, make sure to bring three things with you: a pen, as you will need to fill out some forms; some cash, as you will need to pay some fees; and some water, as you will have to wait in line in some instances, and it’s best to stay hydrated.
Remember though that all these are only for registering your online business. If you plan to hire people, it comes with a whole new set of requirements as you need to provide them with benefits.
It may seem a bit overwhelming having to attend to all these yourself, but keep your eyes on the prize. By spending a day or two securing these requirements, you can spend the rest of your time growing your business.
As with anything, building your business is easier with a little help. Don’t forget that you can also rely on friends and family members to help you out and cheer you on especially when you’re feeling discouraged.
You can also go online for more helpful information. Entrego is a technology driven business solutions provider for the fulfillment and logistics needs of enterprises in the Philippines, has tips to help you succeed in your entrepreneurial venture. As a reliable partner in your business ventures, Entrego knows that you just need to keep your focus, and, before you know it, you will already be on your way to achieving your goals. Good luck!
Entrego is a technology driven business solutions provider for the fulfillment and logistics needs of enterprises. Entrego's courier and express parcel management is operated by Entrego Express Corporation. Entrego Express Corporation is an affiliate of Entrego Fulfillment Solutions Inc.