Business Retirement

Small-Business-retirementPlanning to retire your business?  Well, I know its not just as easy as one, two, three.  Yes, it seems like retiring your  business is somewhat require a great deal of effort just like the time you started to open it. But, is it complex and difficult? Nope, and you can do it yourself, in fact, if you  are diligent enough preparing your documentation and the process.

Anyhow, the first step is to apply retirement via your Local Government Unit (City Hall / Municipal Hall) under the Office of City Treasurer.  Here are the requirements for your easy reference.

  1. Duly accomplished retirement application form.  You can secure this from the Office of the City Treasurer Examination Division.  The form must be originally signed by the owner/President or Vice President with Location Map.
  2. Original Tax Bill and Official Receipts  (3 years).
  3. Original Business Permit (latest)
  4. Original Affidavit of Closure with exact effectivity date of closure for Single Proprietorship.  Original Partnership Dissolution with exact effectivity date of closure original signed by all Partners for Partnership.  And for Corporation, original Secretary’s Cerfiticate or Board Resolution on closure of business with exact effectivity date of closure.
  5. Valid ID
  6. Original Barangay Certificatewith exact effectivity date of closure.
  7. BIR Certificate of Registration (Original to be presented & photocopy to be submitted)
  8. Original Certified Breakdown of Sales.
  9. Proof of business payment (Original to be presented & photocopy to be submitted).
  10. Latest Income Tax Return (ITR) with Audited Financial Statements (AFS) on or before closure from the last payment of business operations (Original to be presented & photocopy to be submitted).
  11. VAT / Percentage Tax Returns (Original to be presented & photocopy to be submitted).
  12. Books of Accounts (to be presented upon evaluation /actual inspection and examination).

So there, the complete requirements.


Recycling Business: Incentive-based approach

Yours truly is a consultant to a local government unit, particularly a Barangay.  And since I was one of those who thinks of how to grow the services and income of the barangay, thus, I proposed this idea of recycling business an incentive-based approach.  The objectives of this approach are (1) somehow a compliance of environment law, (2)  adhere solid waste management, and (3) a business approach to managing waste. 

The concept is so simple and for those people reading this; find time to explore and add things to this concept.

Basically, enrolled household of a particular community can earn money simply by participating in the segregation and putting out recyclable garbage.  How does it work? Again, simple.

Role of household as participants:

1) Enroll as a household participant of a particular community.

2) Everyday, or depending on the garbage collection schedule, segregate and put out recyclable garbage.

3) Earn via redeemable/discount coupons or points at selected groceries or retailers.  Also, as incentive scheme, grocery items that can be redeemed at the LGU/Barangay office.

4) Amount of discount/redeemable coupons or points will depend on the weight of the recyclable garbage.   The more recycled garbage the more you earn.

Role of the LGU / Barangay:

1) Will provide color coded garbage containers.  Explain the mechanics of this activity, key is education, on what are those that can be recycled or recyclable garbage.  The equivalent amount earn or points on a particular weight of garbage.

2) Collect as scheduled, scan and weigh the recycled garbage.

3) Then give out discount/redeemable coupons or points.  Of course, the LGU or barangay must have tie-up with retailers, store, groceries around the governed community. The arrangement is that discounts or points shall be paid by LGU/Barangay or a discount on business permits.

LGU/Barangay can either earn from:

(1) Selling the recyclable garbage collected from the community.  Please take note that we are already minimizing private entity intervention and we all know that “may pera sa basura”.  If properly implemented then the LGU / Barangay will have a bigger part on the recycling business per se.  Money will flow in and wealth can be shared to the community by means of discount and points.  Who knows, perhaps garbage trucks can be purchased later on because of this business.

(2) Savings from the cost of segregating the garbage and a decrease on utilization rate of manpower and trucks.  Lesser utilization lesser cost.  Meaning, the community or the household, will now act as the manpower of the LGU/Barangay doing segregation and recycling services.

There, simple as that.  The idea is so saleable, the problem though is that I think what is lacking is education.  Yes,  first, let us educate the government level on this approach, then it’s up to go.

So guys and gals, it’s up to you. But let me remind you that the meaning of business is somehow different from the government sector’s perspective.  Anyhow, that is based from my own experience.  c;)