A Guide to Starting a Small Business in Makati

Starting a small business in Makati can be an exciting and rewarding endeavor. Makati is one of the wealthiest cities in the Philippines and is known for its vibrant business community. By taking the necessary steps to establish your business in Makati, you can join the ranks of the city’s successful entrepreneurs. This guide will provide an overview of the steps you should take to start a small business in Makati, from choosing a business structure to obtaining licenses and permits.

Choose a Business Structure

The first step in starting a small business in Makati is to choose a business structure. The most common structures used by small business owners in Makati are sole proprietorships, partnerships, and limited liability companies. Each of these structures has advantages and disadvantages that should be considered before making a decision.

Choose a Business Location

The next step is to choose a business location. Makati has a wide range of commercial and industrial zones where businesses can be established. It is important to consider the zoning restrictions and other regulations that may apply to your business before selecting a location.

Obtain the Necessary Licenses and Permits

Before you can start operating your business, you will need to obtain the necessary licenses and permits. In Makati, businesses are subject to local, municipal, and national regulations. Depending on your business type, you may need to apply for a business permit, a tax identification number, and other licenses.

Register with the Makati Business Bureau

After obtaining the necessary licenses and permits, you will need to register your business with the Makati Business Bureau. This will ensure that your business is officially recognized by the city and that it is compliant with all local regulations.

Create a Business Plan

Creating a business plan is an essential step in starting a small business in Makati. A business plan should include information about your target market, products or services, pricing strategy, and marketing plan.

Obtain Funding

You will also need to obtain funding for your business. There are a variety of funding sources available to small business owners in Makati, such as banks, venture capital firms, and government grants.

Conclusion

Starting a small business in Makati can be an exciting and rewarding endeavor. By taking the necessary steps, you can join the ranks of the city’s successful entrepreneurs. This guide provided an overview of the steps you should take to start a small business in Makati, from choosing a business structure to obtaining licenses and permits.