Upside and Downside of Credit

Credit gives the customer the opportunity to buy goods and services, and pay for them at a later date.

+Advantages of credit trade
+Usually results in more customers than cash trade.
+Can charge more for goods to cover the risk of bad debt.
+Gain goodwill and loyalty of customers.
+People can buy goods and pay for them at a later date.
+Farmers can buy seeds and implements, and pay for them only after the harvest.
+Stimulates agricultural and industrial production and commerce.
+Can be used as a promotional tool.
+Increase the sales.
+Modest rates to be filled.

Disadvantages of credit trade
+Risk of bad debt.
+High administration expenses.
+People can buy more than they can afford.
+More working capital needed.
+Risk of Bankruptcy.

BRAND MANAGEMENT

Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the product's perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product.

A good brand name should:
be protected (or at least protectable) under trademark law
be easy to pronounce
be easy to remember
be easy to recognize
be easy to translate into all languages in the markets where the brand will be used
attract attention
suggest product benefits (e.g.: Easy-Off) or suggest usage (note the tradeoff with strong trademark protection)
suggest the company or product image
distinguish the product's positioning relative to the competition.
be attractive
stand out among a group of other brands

HEADSET REPAIR SERVICES

Attention Call Center and BPO companies!!!

Neovox Technologies Inc offers Headset Repair Service for all kinds of headsets. They just need the exact model of headset, the details of the system it is being used with, the serial number of the unit, your company details, and contact email address and they will contact you immediately.

Delivery and pick-up of your headsets is for free. Neovox repairs, sanitizes, and reconditions your headsets to its original state. They have highly trained Headset Service Engineers who are ready to support your headset requirements.

Save money. Restore Your Headsets.

For more information, you may visit their website at http://www.neovox.vze.com.

COOL BUSINESS IDEAS FOR SUMMER '09

School is out.. summer is in...

When summer comes, first thing that comes to mind are the beaches and resorts. My favorite place during summer is Subic Bay, Philippines. Lots of nice beaches, resorts and hotels to stay, food is great and best of all, a shopper's haven coz of their PX shops. While you enjoy the summer heat, it's nice to know that summer is a perfect time to earn money as well. There are lots of cool business ideas for the summer but I'll discuss just 2 items:- T-SHIRT DESIGN and BEADS MAKING.

T-shirts and beaded necklaces and bracelets are selling like hotcakes in beaches and resorts. What's also nice is that it's easy to make and can be your very own backyard business. For the T-shirt business, you have the options of using t-shirt printing softwares which is very easy and convenient to use. A PC is a requisite in this kind of process. Or you can go for the traditional silk-screen printing which is much cheaper to set up.

It may sound completely out of reach, but bead making can actually be a fairly simple process to master. You don’t need to be a highly skilled artisan, and you don’t need a lot of expense, hard to obtain materials.

For bead-making, beads can be created from all sorts of materials—many of which you probably have on hand. For example, did you know that you could create beads out of a potato, a few scraps of paper or a twig from your yard? It’s true. In fact, often the simplest materials create some of the most interesting beads. If you can't do your own materials, you may buy from wholesale dealers of beads from Divisoria.

Let your creativity work by investing in these cool business ideas for summer.

TAX BREAKS AND INCENTIVES

DID YOU KNOW THAT...

Enterprises registered with the Philippine Economic Zone Authority (PEZA) are entitled to a holiday from income tax and local taxes for three or eight years. After that, they are subject to 5% tax on gross income (sales less direct costs) in lieu of all local and national taxes. Enterprises that are registered with the Subic Bay Metropolitan Authority (SBMA) or Subic Bay Freeport Zone , which administers the economic zone established by the conversion of the former United States military base in Subic, are also subject to the special 5% tax, but are not entitled to tax holidays. The same benefits are accorded to qualified industries registered with the Clark Development Corporation and located in the Clark Freeport Zone .

To avail of the tax breaks and incentives offered by PEZA an enterprise must register with PEZA and locate their operation in one of the PEZA zones, buildings, IT Parks or Technology Parks. PEZA registrants must generally be export-oriented, with enterprises located inside the zones required to export 100% of their production. In some cases PEZA may approve the sale of up to 30% of production in the domestic market. Full foreign ownership of a PEZA enterprise is allowed provided they are not engaged in activities that appear on the Foreign Investment Negative List . PEZA approval and specific incentives granted are on a case by case basis. Applicants must supply an application for providing information on capital structure, nationality of investors and a feasibility report in accordance with a PEZA prescribed format. Applicants should then expect fast turn around once the application is submitted.

On the other hand, the Board of Investments (BOI) provides tax breaks and other incentives registered entities that engage in activities identified as investment priorities or those which promote the general economic development of the Philippines and those that are exported oriented (where export is more than 50% of production or 70% if the enterprise is more than 40% owned by foreign investors). The BOI, in consultation with the public sector comes up with an Investment Priorities Plan listing these industries.

The main advantage for an eligible BOI registered firm are 3-8 year income tax holidays and 4-6 year exemption from local business taxes for pioneer and non-pioneer industries. To be eligible for BOI incentives foreign investors will need to have an equity investment in a Philippine corporation.

Pioneer and Non pioneer projects have different requirements. 100% foreign owned enterprises may avail of incentives if they engage in pioneer projects, export at least 70% of their total production or undertake projects less-developed areas of the country as identified by the BOI. These enterprises are obliged to attain 60% Filipino ownership within 30 years from registration unless they export or will be exporting 100% of their production. For enterprises engaged in non-pioneer projects, foreign ownership is limited 40%, unless the enterprise will export more than 70% of its annual production.

EXPORT BUSINESS ENTERPRISE

DID YOU KNOW THAT....

An export enterprise is defined as a business who exports at least 60% of its output. Export Business Enterprises may be 100% foreign owned and may file with the SEC for an exemption of the paid-up capital requirement of USD 200,000.00.

KPO, BPO, Back Office and call centers are considered Export Enterprises.

NEED A GOOD BUSINESS ADDRESS?

Want to make a good impression to your business clients? Impress them by having a good business address.

The first thing I look at when someone gives me a business card is the office address or place where he conducts business. Reason is because, business addresses tells a lot about your company. Clients can instantly gauge you thru your business address. So having a good office address is a plus factor in business.

But if you're just starting out and dont have money to rent in an office, you may avail of the services of a virtual office. There are lots of existing virtual offices around in the Metro. You may pick from Alabang, Makati, Ortigas or Eastwood City. Prices depends on the address and services you wish to avail. Some offer between P1,500 - P3,500 per month.

Through virtual offices, you can have the business address of your choice. Having a good business address is easy after all.

TOP 10 BUSINESS RISKS IN 2009

The new Ernst & Young report identifies the top 10 global business risks by analyzing the top risks identified for some of the world's most important industry sectors. It also highlights the risks “below the radar” that could also have a significant impact over the next three to five years.

The top 10 risks identified (2008 rankings in parentheses) are:
1. The credit crunch (2)
2. Regulation and compliance (1)
3. Deepening recession (New)
4. Radical greening (9)
5. Non-traditional entrants (16)
6. Cost cutting (8)
7. Managing talent (11)
8. Executing alliance and transactions (7)
9. Business model redundancy (New)
10. Reputation risks (22)

THE TRADE HIT PARADE

According to the U.S. Census Bureau, the top 10 countries with which America trades (in order of largest import and export dollars to smallest) are:

• Canada
• Mexico
• Japan
• China
• Germany
• United Kingdom
• France
• Republic of Korea (South Korea)
• Taiwan
• Singapore

You needn't, of course, confine yourself to trade deals with importers and exporters in these countries--there are scads of other intriguing possibilities available, including the member countries of the Caribbean Basin and Andean pacts and the new kids on the Eastern Bloc, the former Soviet Union countries. But as a newbie on the international scene, you should familiarize yourself with our biggest trading partners and see what they have to offer. Then take your best shot, with them or with another country.

TYPES OF IMPORT/EXPORT BUSINESSES

• Export management company (EMC): An EMC handles export operations for a domestic company that wants to sell its product overseas but doesn't know how (and perhaps doesn't want to know how). The EMC does it all--hiring dealers, distributors and representatives; handling advertising, marketing and promotions; overseeing marking and packaging; arranging shipping; and sometimes arranging financing. In some cases, the EMC even takes title to the goods, in essence becoming its own distributor. EMCs usually specialize by product, foreign market or both, and--unless they've taken title--are paid by commission, salary or retainer plus commission.
• Export trading company (ETC): While an EMC has merchandise to sell and is using its energies to seek out buyers, an ETC attacks the other side of the trading coin. It identifies what foreign buyers want to spend their money on and then hunts down domestic sources willing to export. An ETC sometimes takes title to the goods and sometimes works on a commission basis.
• Import/export merchant: This international entrepreneur is a sort of free agent. He has no specific client base, and he doesn't specialize in any one industry or line of products. Instead, he purchases goods directly from a domestic or foreign manufacturer and then packs, ships and resells the goods on his own. This means, of course, that unlike the EMC, he assumes all the risks (as well as all the profits).

CREDIT CARDS... ANYONE?

Credit Card when used wisely is a good business tool. You can use credit cards to purchase goods on line. You may also use it to pay in restaurants, business establishments, hospitals, schools, etc.

I can still recall my first credit card was from Standard Chartered bank way back in 1997. There was an agent from a credit card service provider that visited our company to solicit clients in need of credit cards.

So, what are the basic requirements to own one? You need to present proof of income (ITR, payslip or employment certificate for employees and ITR for self-employed). You also need to submit proof of residence such as utility bills for telephone, water or electricity. Very important is to have a landline no., either at home or in your office where the bank may contact you re: your application. Processing time is between 2 - 3 weeks.

Upon approval, your credit card will be sent to the address indicated in your application form. If you are not around, make sure that you prepare an authorization letter that you have authorized the bearer to receive the card on your behalf. Dont forget to leave your identification card as well. Upon receipt of the card, immediately write your signature at the back and call the bank for activation.

Just make sure to use your credit cards responsibly to avoid problems later on.

SOME BUSINESSES CONTINUE HIRING

By EDU LOPEZ
Manila Bulletin

March 9, 2009, 11:16pm

Some local businesses will continue hiring more people and provide skills re-training especially to displaced workers to help keep unemployment levels at a minimum despite the impact of the global economic crunch.

Philippine Chamber of Commerce and Industry (PCCI) President Edgardo Lacson said except for electronics, other businesses are not much affected by the economic meltdown. "This is because 80 percent of our gross domestic product (GDP) is driven by local consumption which makes us little different from other economies and the presence of our informal economy "the SMEs, OFWs" these are peculiar advantages of the country," he noted.

However, despite job demands especially for graduates, Lacson pointed out that matching the skills between the academe and industry remained the biggest problem.

"Only four out of 10 are hired after graduation but the rest are not hired because their skills do not match the requirements of the industry," he said.

Lacson said the PCCI’s School-To-Office Response to Employment (STORE) system hopes to address this gap, as it matches industry demand for specific qualifications through a ladderized system of entry either through on-the-job training or apprenticeship for permanent employment.

LOWEST INTEREST RATE FOR HOUSING LOAN

Planning to buy your dream house and lot? If you have cash, then there should not be any problem at all. But why use cash if you can finance it via bank loan?

I've been searching around for the lowest rate in the market. Generally, all commercial banks offer housing loan. Rates may vary depending on term of the loan or fixed rates for a certain period.

My friend's existing loan is with RCBC Savings Bank. Their current interest rate is at11% p.a. subject to yearly repricing thereafter. Longest loan term is 15 years. But since the downturn of the economy, their business was affected so a loan take-out is a good decision wherein they can transfer their loan to another bank which offers lower interest and longer payment term.

She told me about Landbank which is a government owned bank. Landbank only offers 9% p.a. and longest payment term is 20 years. Aside from that, Landbank's computation is based on diminishing balance. For a P2M loan, monthly amortization is only around P17,995 based on a for a 20 year term.

For additional information on how to secure a housing loan, you may visit their website at http://www.landbank.com .

GLOBAL COMPETITIVENESS: PHILIPPINES RANKS 37TH

No. 26 - September 2000 Global Competitiveness: Philippines ranks 37th By Michael B. Mundo

From the 33rd rank in global competitiveness last year, the Philippines dropped four ranks into the 37th place, above Indonesia and Vietnam which are in the 44th and 53rd places, respectively. The rest of Asia likewise suffered setbacks from last year in competitiveness considering their performance in economic creativity, finance, and openness to foreign trade and capital flows.

Information technology, the internet, and electronic commerce have started to influence a country's economic growth prospects and productivity in recent years. Because of this, the United States now leads in terms of global competitiveness, outpacing Singapore in the Global Competitiveness Report 2000.

The Report, prepared by the World Economic Forum and Harvard University, surveyed 59 economies. It introduced a new major factor in its annual series of global competitiveness indices which determine growth in GDP per person.

1.1 Openness
What dragged the Philippines down was its ranking in terms of the international index, dipping six steps behind into the 48th place from the 42nd place. The Philippines performed poorly among other Asian countries, only surpassing Vietnam. Except for Thailand, other Asian countries also slid in terms of openness to global trade and capital flows from the previous report. Hong Kong and Vietnam slipped 1 rank; Taiwan, 3; South Korea, 6; Malaysia, 15; and Indonesia, 21. The Philippines' relative edge lies in its favorable exchange rate for exporters. In this category, the country ranked among the top 12. On the other hand, the report noted worsening hidden import barriers (other than published tariffs and quotas) dropping from the 42nd rank to the 53rd rank. In addition, the report noted the relatively low foreign access to capital markets resulting to a drop from 42nd place to 48th place. The country likewise rated poorly on foreign exchange availability (ascending from the 51st place to he 52nd place), Moreover, IMF lists 12 capital account restrictions for the Philippines, placing it at 53rd rank, below Malaysia, Korea, Indonesia, Vietnam and Thailand,

1.2 Finance
Though still at a disadvantageous rank, the good news on the Philippines is its ascent in the finance category from the 38th place to the 36th place, just ahead of Asian countries -Vietnam and Indonesia, in the 47th and 50th places, respectively, In contrast, other Asian countries dropped from their previous ranks in this category, Singapore and Thailand slipped by 1 rung; Hong Kong, 5; Taiwan, 6; and Malaysia, 11.

The BW scam and the loss of self-regulatory organization status in the stock exchange last year dragged down the Philippines to 57th place from 48th place in terms of insider trading, the worst in Asia. Weak investments last year as a ratio to GDP likewise pushed down the Philippines from the 31st place to the 42nd place, ahead of Indonesia at 45th place.

The star belongs to the bond market, however, where the country climbed from the 49th place to the 42nd position, ahead of Thailand, Malaysia, and Vietnam, at the 44th, 45th, and 52nd places, respectively. Another development is the improving access to credit, where the Philippines climbed to 42nd place, from the 50ili place, ahead of Thailand and Indonesia, at the 51st and 58th places, respectively.
1.3 Economic Creativity

The Economic Creativity Index now accounts for a third of a country's growth competitiveness. This indicator is composed of three sub-indices measuring innovation, technology transfer, and start-ups. The Philippines ranks 36th in terms of economic creativity, ahead of Thailand, Indonesia, and Vietnam, at 40th, 43rd, and 50th places, respectively.

In measuring innovation, the Report looks into companies' competitive advantage in unique products and processes, technology development, product design, technological sophistication, scientific research institutions, firms' need to undertake research and development, private sector spending on R&D, and intellectual property protection.

The Philippines ranks 47th in terms of innovation, ahead of Thailand and Indonesia, at 50th and 55th places, respectively. In this regard, the Philippines lagged behind in world technological leadership or technological sophistication. From 51st place in 1997, the Philippines slowly climbed to 48th place in 1998, and 45th place in 1999. Now, the country is back to a lower spot at 49th place. In terms of companies' pioneering products and process or technology development, the Philippines ranks 50th, ahead of Thailand and Indonesia, at 52nd and 54th spots.

Scientific research institutions here are far from being world-class, currently at 49d1 place from 32"d in 1997, 52nd in 1998, and 46th in 1999. The Philippines, though, remains ahead of Vietnam, Indonesia, and Thailand, at 50th, 53rd, and 54th places, respectively. Another important weakness of the Philippines is its 46th standing in intellectual property protection, ahead of Indonesia and Vietnam, at 53rd and 57th places, respectively. Previous surveys place the Philippines at 45th (1997), 46th (1998), and 42nd (1999) ranks.

The Philippines ranks relatively higher compared to other Asian countries in terms of technology transfer, at 19th place, coming from 13th place. Previous rankings show the country's fragile position in this aspect because of technology transfer's dependence on foreign direct investments. Since 1997, the Report has tracked down executive opinion on foreign direct investments' contribution to technology transfer under the previous category of technology as well as overall spending on R&D.

Factors contributing to start-ups are venture capital, loan availability, and starting a new business, including investment rate, entry into banking industry" competition with domestic banks, and access to external finance.

The Philippines needs to catch up in terms of startups, at 41st place, ahead of Thailand and Vietnam, at 42nd and 45th places, respectively. Since 1997, venture capital has been drying up in the Philippines, as the country's ranking slipped from the 21st rank in 1996 to 28th place in. 1997, 33rd place in 1998 and 1999, and 47th rank in 2000. In terms of loan availability for those with business plans but witl1out collateral, the Philippines ranks 4th coming from the 45th place, just ahead of China at 53rd place.

2.0 Current Competitiveness
Harvard Professor Michael E. Porter introduced the Microeconomic Competitiveness Index (MICI) way back in 1998 into the Global Competitiveness Report. This year, MICI has evolved into the Current competitiveness Index. Some of the factors that go into the Growth Competitiveness Index overlap with components of the Current Competitiveness Index. Their focus, however, remain different. The Growth Competitiveness Index measures factors behind the future growth of GDP per person. The Current Competitiveness Index gauges the factors behind the present level of GDP per person.

In the Current Competitiveness scheme, the Philippines fell behind to 46111 place from the 45th place in 1998 and 45th place in 1999, ahead of Indonesia and Vietnam, at 47th and 53rd places, respectively. This can be explained by the deterioration in the sub-index of Company Operations and Strategy to the 43rd place, from the 41st and 34th spots in 1998 and 1999, respectively. The Philippines comes ahead of Thailand, Indonesia, and Vietnam, at 47th, 51st, and 50th places, respectively.

The Philippines' strength in this sub-index lies in marketing and approach to human resources. Its 33rd spot in both factors come ahead of Thailand, Indonesia, and Vietnam. On the other hand, the country is weakest in Asia with regard to foreign distribution and marketing. Likewise, the country is disadvantaged at international brands and technology development.

The second sub-index that determines the Current Competitiveness Index is the Sub-Index on Quality of National Business Environment. The Philippine standing remained stable at the 46th place since 1999 from the 45th place in 1998, better than Indonesia and Vietnam, at 47th and 52nd places, respectively.

In this regard, the country's advantages lie in the quality of business schools or management education (13th place, the top two in Asia). Another edge lies in the sophistication of buyers, at 30th place, ahead of Malaysia, Vietnam, Thailand, and Indonesia, at 33rd, 41st, 45th, and 49th spots, respectively. The Philippines also enjoys an advantage in terms of consumer demand for innovation, at 32nd place, ahead of Thailand, Indonesia, and Vietnam, at 36th, 48th, and 57th places, respectively.

The country retains notoriety in terms of irregular payments (56th place), favoritism by public officials (57th spot), and poor research collaboration (55th place).

WEF and MBC
The World Economic Forum is a Swiss-based organization of leaders from business, government, and the academe committed to improving the state of the world. Incorporated in 1971, WEF is an independent foundation having a consultative status with the United Nations. WEF developed and launched its first competitiveness report in 1980 and published it yearly, for several years in partnership with the Institute for Management and Development. The Makati Business Club has been WEF's exclusive partner institute in the Philippines for the preparation of international competitiveness reports since 1993. MBC has been conducting the Executive Survey of the Global Competitiveness Report among its members.

NETWORKING FOR BUSINESS

In business, having many friends do come in handy. Successful business ventures are often attributed to personal connections, friendships and acquiantances. Use your network as an advantage for your business. The more you know people, the more business opportunities are open to you.

How do you do this? Review your current address book. This is a list of people you currently are in contact with. You may consider them as your possible customer base. You may ask them for other references as well.

You can also check social networking websites to look for your highschool buddies and college classmates. Highschool / College Reunions maybe a fun occassion but can also be a source of possible business opportunities as well.

Anyway, this is what networking for business is all about.

DIFFERENT TYPES OF TAXES

Taxation has four main purposes or effects: Revenue, Redistribution, Repricing, and Representation. Below are the different taxes in the Philippines.

Capital Gains Tax is a tax imposed on the gains presumed to have been realized by the seller from the sale, exchange, or other disposition of capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale.

Documentary Stamp Tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, rights, or property incident thereto.

Donor's Tax is a tax on a donation or gift, and is imposed on the gratuitous transfer of property between two or more persons who are living at the time of the transfer.

Estate Tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers which are made by law as equivalent to testamentary disposition.

Income Tax is a tax on all yearly profits arising from property, profession, trades or offices or as a tax on a person’s income, emoluments, profits and the like.

Percentage Tax is a business tax imposed on persons or entities who sell or lease goods, properties or services in the course of trade or business whose gross annual sales or receipts do not exceed P550,000 and are not VAT-registered.

Value Added Tax is a business tax imposed and collected from the seller in the course of trade or business on every sale of properties (real or personal) lease of goods or properties (real or personal) or vendors of services. It is an indirect tax, thus, it can be passed on to the buyer.

Withholding Tax on Compensation is the tax withheld from individuals receiving purely compensation income.

Expanded Withholding Tax is a kind of withholding tax which is prescribed only for certain payors and is creditable against the income tax due of the payee for the taxable quarter year.

Final Withholding Tax is a kind of withholding tax which is prescribed only for certain payors and is not creditable against the income tax due of the payee for the taxable year. Income Tax withheld constitutes the full and final payment of the Income Tax due from the payee on the said income.

Withholding Tax on Government Money Payments is the withholding tax withheld by government offices and instrumentalities, including government-owned or -controlled corporations and local government units, before making any payments to private individuals, corporations, partnerships and/or associations.

EMERSON PRODUCTS

AC Power Systems from Emerson Network Power:

Micro UPS (0~3kVA) for desktops, servers, telecom closets
Small UPS (3~20kVA) with completely redundant system controls, power modules, battery modules and monitoring options
Medium UPS (20~100kVA) with smaller footprint, higher efficiency and superior performance
Large UPS (>100kVA) with continuous availability
Dual-UPS Systems in Parallel

Cytek Solutions, Inc. is a Value Added Reseller of EMERSON products. You may visit their website at http://www.cytekgroup.com/ .

TREASURER IN TRUST (TIT) ACCOUNT

Part of the process of registration for corporation is opening a Treasurer in Trust (TIT) Account. This will certify that you have in the bank the said capital as declared in your Paid Capital in your Articles of Incorporation and By-laws.

You may open an account in a bank of your choice. You have to submit original company/personal identification documents to the bank. The TIT Account is temporary and non-transactional. This will be closed upon conversion to a regular commercial account or submission of proof of the non-registration of the company. The proof of non-registration would be a declaration/certification from all the incorporators that the registration did not push through and that the appointed Treasurer is authorized to withdraw the proceeds of the account.

HEALTH IS WEALTH

Food supplements indeed helps us to become healthy and fit. Aside from the health benefits that you can get from taking food supplements is also the opportunity to earn some income selling these products.

Koso Health Drink is 100% pure-fruit enzymes extracted from grapes, papaya, apple, pine­apple, guava and sugarcane. Sugar contents of sug­arcane have been converted and hydrolyzed to fruc­tose and glucose. It is a rich source of food nutrients which can be classified as Q10, vitamins and miner­ als. It contains several enzymes which are natural substances that act as workers so that the nutrients, vitamins and minerals are readily assimilated, ab­sorbed and utilized by the body. KOSO Health Drink is taken as a food supplement. It has no chemical additive and does not contain any preserva­tive.

Learn how you can earn income by marketing Koso Health Drink. You may visit their website at http://www.koso.vze.com .

BUY AND SELL PRODUCTS ON-LINE

Are you in the business of buy and sell of products? Or do you have used items such as electronic products, cellphones, branded apparels, etc. that you are not using anymore but just takes space around the house? Then, you might wanna try online auction sites. There are a lot of auction sites on line. Here in the Philippines there is Ebay, sulit.com, buyandsellplus and others.

All you need is to create an account and you can post any items you wish to sell. Post all the product specs and indicate your starting auction price and "buy now" price. Make sure that you also post a picture of the actual product since by experience, items are faster to sell if buyers get to see even just the picture of the product.

You'll have fun buying and selling on-line and you may find it profitable too. Happy selling!

SEARCHING FOR A JOB? FIND NO MORE...

Are you looking for a job right now? My friend Oliver is looking for people who can be part of his growing International Business Consultancy Firm. Please take note that below positions are urgent and needs to be filled up on or before March 15, 2009.

JOB OPENING:

Screening Team (5)

Required attributes of nominated Screeners to include:
§ National of The Philippines
§ University education
§ High organizational and communication skills (confident, talks well)
§ Previous experience in survey work (ideally using telephone/SKYPE)
§ Available full-time starting Monday 19 March (for 3 months)
§ Basic computer skills

Preferred (but not essential) attributes include:
§ Proficiency in English
§ Knowledge of local manufacturing and service industries
§ Aged over 30 years

Survey Supervisors (3)

Required attributes of nominated Survey Supervisors to include:
§ National of The Philippines
§ University education
§ Previous experience managing teams of people
§ High organizational and communication skills (confident, talks well)
§ Previous experience in survey implementation
§ Available full-time starting Monday 18 March (for 3.5 months)
§ Basic computer skills
§ Age over 30 years

Preferred (but not essential) attributes include:
§ Proficiency in English
§ Knowledge of local manufacturing and service industries
§ Postgraduate education

Survey Enumerators (15)

Required attributes of nominated enumerators to include:
§ National of The Philippines
§ University education
§ High organizational and communication skills (confident, talks well)
§ Previous experience in survey work
§ Available full-time starting Monday 23 March (for 3 months)

Preferred (but not essential) attributes include:
§ Proficiency in English
§ Knowledge of local manufacturing and service industries
§ Aged over 30 years
§ Basic computer skills

If you have these qualifications, please feel free to send your curriculum vitae to: sheiferr@yahoo.com .

START-UP COMPANIES - SAVE 60% ON COMPUTER PURCHASES

Neovox Technologies is marketing a new product called STAR PC. Simply put, STAR PC can turn 1 ordinary CPU into 5 individual computers. STAR PC is not a server. Benefit from the following advantages of STAR PC: 60% savings on costs of PCs as you only need 1 CPU; you only need 1 Licensed Operating System; very easy to install.

This is a very big help for start-up companies as this will remarkably trim down capital expenditures. Target market of STAR PC are call centers, schools, hospitals, offices, and internet cafe.

Star PC is exclusively distributed in the Philippines by Neovox Technologies Inc. They also carry various products such as: Call Center Headsets, NEC TELEPHONE SYSTEM Conference
Telephones, ASTERISK IP PABX Wireless DECT Phones, AUTO-ATTENDANT AND VOICE MAIL SYSTEM Digital Recording System, STRUCTURED CABLING, PABX Repair and Maintenance and HEADSET RESTORATION.

You may contact Neovox Technologies, Inc. at (02) 334-8240 or visit their website at http://www.neovox.vze.com

SUPPLIER ACCREDITATION PROCESS

Most companies, especially the Multinationals, require supplier accreditation before you can do business with them. This is very normal especially in manufacturing companies in Semiconductor, Electronics and Automotive industries. The job of accreditation is done by Purchasing Department or General Procurement Services or Strategic Outsourcing Department, whatever it is that they call it.

So, what documents are required to be submitted for accreditation purposes?

Generally, companies have standard application for accreditation forms which you have to fill up. They would also require you to submit copies of your SEC registration, BIR registration, DTI registration, Mayor's Permit, Income Tax Return with audited financial statements, and Lists of stockholders.

Normally when you have complete documents, supplier accreditation process should be a breeze.

FINANCING YOUR BUSINESS

When you set up a business, you definitely need capital to finance your operations. If you get a big order and your cashflow isn't enough to cover for it, you may use the services of a financing companies such as Banks. Banks offer several types of dependable financing solutions for your business requirements.

There are many types of loans out there, depending on your needs. Personal loans are non-collateral loan that varies from Php30,000 - Ph1,000,000. Processing time only takes around 1-2 weeks. Usually,they would only require a completely filled-up application form, income documents such as payslip, Income Tax Return or Certificate of Income, and 2 sets of IDs.

You can also apply for Ready Credit facilities. They issue you a checkbook or ATM account and they just charge minimal interest for whatever you draw from your approved credit limit. Requirements are the same as personal loans.

There are also small business loans that requires collateral such as real estate properties. Loanable amount depends on the value of you collateral. Some banks offer from 70% - 80% of the appraised value of your property. Bank requirements are income documents and property documents. Charges you incur if you avail of this facility are appraisal fee, documentation fees and othe handling fees depending on the bank.

FORMS OF BUSINESS

When setting up a business, it's always a question whether we form a single proprietorship, partnership or a corporation. A singe proprietorship is the most simple form of business and easiest to register. It is owned by an individual who owns full control of its assets and liabilities.

A partnership consists of two or more persons who bind themselves to contribute money or industry to a common fund, with the intention of dividing the profits among themselves. A partnership, just like a corporation, is a juridical entity, which means that it has a personality distinct and separate from that of its members.

A corporation is a juridical entity established under the Corporation Code and registered with the SEC. It must be created by or composed of at least 5 natural persons (up to a maximum of 15), technically called “incorporators.” The liability of the shareholders of a corporation is limited to the amount of their capital contribution. In other words, personal assets of stockholders cannot generally be attached to satisfy the corporation’s liabilities, although the responsible members may be held personally liable in certain cases.

NEED QUALITY PRODUCTS?

Trading company always need products to supply their customers. Although some maybe their standard products, but what if it is not. Where do we source out products we need?

There are several B2B sites in the internet. They are very helpful for businesses requiring specific products and services. For example, Alibaba.com can recommend a lot of possible suppliers for any kind of products. From food and health products, apparels, electronic gadgets, manufacturing equipments and supplies, name it, they have it.

Just make sure though that the supplier your talking to has been verified by them. Although, bear in mind that it is not 100% assurance that it safe to trade with them.

At any rate, thanks to the power of the internet, sourcing out products is as easy as a breeze.

HOW MUCH SHOULD BE MY TARGET PROFIT?

When you sell any kind of product, you have to make sure that you make profit out of it. Otherwise, if defeats the purpose of doing business.

Gross profit is derived after deducting your gross sales from costs of goods sold. Net profit is the difference between gross profit and operating expenses. But how much profit should you target? 10%? 20%? 30%? or more? That depends on several factors.

When you're selling equipments, you have to consider the warranty costs. Although most OEMs give 1 year free warranty on parts, you render after sales service support. This has costs because you have to maintain a technician or engineer to support the equipment. There is cost involve when going to and fro the customer's place as well. Either your technician/engineer works part-time or full time for you, you have to calculate all the costs involve.

Make sure that you compute all possible costs to be incurred such as warranty, shipping, taxes, and other incidental costs related to the sale. After that, you can decide how much is your target profit would be.

Happy selling!

HELP! NEED A TAX PREPARER

Tax season is here again. Do you suffer from tax preparation dilema? No need to worry, just call your handy dandy tax preparer.

Tax preparer services are quite common these days. There's the industry leaders such as Jackson Hewitt and HR Block. You may also acquire the services of independent tax preparer in your area.

Tax preparation fees vary in rates depending on the tax forms needed to done. Independent tax preparer may charge around $90 - $170 per return.

The bottomline is, if you pay someone to prepare your tax return, choose that preparer wisely. Taxpayers are legally responsible for what’s on their own tax returns even if prepared by someone else. So, it is important to choose carefully when hiring an individual or firm to prepare personal returns.

PRODUCT OUTSOURCING

Traditional businesses generally carry standard products and services. For example my company have been supplying industrial microscopes for the Semiconductor and Electronics Industry. During good times, sales from microscopes alone can give quite a stable income for me. But when the global financial crisis started, multinational companies stopped equipment purchases hence, made a great effect on businesses of equipment suppliers.

So the short term solution might be to offer outsourcing services to your clients. Simply put, you supply your clients what they need, although it is beyond your current product line up.

This may help you stay afloat as we sail the rough seas of this current economic turmoil.

VALUE ADDED RESELLER

Just got the good news on the 1st working day of March 2009. My company was certified as a Value Added Reseller of Emerson products.

Emerson (NYSE: EMR) is a diversified global manufacturing and technology company. They offer a wide range of products and services in the areas of process management, climate technologies, network power, storage solutions, professional tools, appliance solutions, motor technologies, and industrial automation.

We'll be handling EMERSON products such as Uninterupted Power Supply (UPS), Precision Aircon Units, Racks and Rack accessories.

Looking forward to a successful business relationship with EMERSON.

NUMERO UNO

My First Blog Post for 2009.
This is my first post for Blogspot. You'll find this site an avenue of fresh business ideas. We'll talk about money matters and strategic business approaches. We'll learn how to survive in this turbulent times of global financial crisis.

Previously, I've had some blogs posted on my other account for another social networking website. I've been busy and wasnt able to write blogs for quite sometime. But as they say, when you have a passion for something, you would always find ways of getting back at it. I love writing, I always did.

When I was young (during my elementary days) my favorite subject was writing. I always had a high score in Theme Composition. Whether it be in English or Filipino, I never had a hard time writing for any topics posted by my teachers. Although I would say that I am more effective in writing in English than in Filipino.

When I was in highschool, I know what I want to do... I want to become a writer. I was looking forward to college and take up Journalism. But as you know things in life seems always unexpected. My life's course took a detour and I took up Accountancy instead. But it didnt stopped me from writing.

In college, I became the Editor in Chief of the JPIAN Link, the newsletter of the College of Accountancy and Law at PUP. During my breaks, I've always looked forward to writing for my columns for the newsletter.

Writing gives me the opportunity to express my opinions on any subject I please. And I love it... I love this kind of freedom.Though I didnt became a journalist by profession, I can say that I am and will always be a writer by heart.