New business establishments in Ibaan has increased by 44% in 2014. All of which were approved and were given Business/Mayor’s Permit to operate.
Based on the records of Business Permit and Licensing Section Officer Vanessa Nicolas, new business permits increased from 158 in 2013 to 227 in 2014, or a difference of 69 new establishments equivalent to 43.6%.
The most of the new business establishments falls within the category of micro enterprise. They include sari-sari store, warehouse, photobooth, vegetable vendor and eatery.
In general, a micro enterprise is considered a small business employing 10 people or less, and have a capital asset of less than PhP 3,000,000. Internationally, most micro enterprises are family businesses employing one or two persons.
On the other hand, total business establishments in Ibaan also increased.
In 2013, there were 1,018 of them. This ascended to 1,057 in 2014, or an increase equivalent to 3.8%. The number is based on the number of business establishments who renewed their business permits, including the new ones.
However, 17 of them closed down operations in 2013. Sixteen more followed in 2014.
Notably, more and more women are owning businesses. In 2013, of the total business establishments, 46% is owned by them. This dropped to 35% in 2014.
According to Ms. Nicolas, her office still accepts renewal of business permits. However, since the grace period has ended, renewal of which at this time will entail additional charges for penalty.