Starting a Business in Philippines: 6 steps, 8 days (Infographics)

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By Nadj Villaver | Negosentro.com

Planning to start your own business here in the Philippines? Worry no more! From the usual 16 steps to be accomplished in 34 days, the process has been reduced to 6 steps in 8 days.

The package of reforms involving starting a business included merging several steps together to create single-window applications powered by more interconnectivity across IT systems of different agencies, the removal of several outdated procedures, and the introduction of enhanced one-stop-shop procedures in local government units. These changes involved coordination and partnership across numerous government agencies such as the Securities and Exchange Commission (SEC), BIR, SSS, Pag-IBIG, PhilHealth, and local government unit Quezon City.

In 2017, the ultimate goal is to simplify this further to three steps that can be accomplished in three days.

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(Photos courtesy of Department of Finance)

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