How to do start a business in El Nido?
With El Nido being one of the top beach destinations in the Philippines, it has become a gold mine for businesses and investment opportunities. In recent years, El Nido has experienced growth in different business industries, giving travellers more things to see and experience.
If you are among the many investors who perceive great potential in El Nido as a place to do
business, keep in mind the following tips to help you successfully launch your business there:
1. Create a Business Plan
Before you start going through the legal processes to start your business, it’s important to
develop your business plan, which involves determining your products or services and target
market. Along with this, you must decide on your preferred business structure because the
documents you may need rely heavily on it.
2. Comply with Government Requirements
To pay taxes, every business is required to register with the Bureau of Internal Revenue (BIR).
While it could be difficult to watch your hard-earned money disappear, your company will get certain advantages as a result.
The Securities and Exchange Commission (SEC), which oversees all registered businesses in
the nation, will also require you to file essential paperworks.
3. Complete El Nido’s LGU Requirements
As you begin a new business venture, you are required to obtain a Mayor’s permit or a business permit from El Nido's Local Government Unit (LGU) as you will be taking up some space in their city. Listed below are the requirements you need to comply with when establishing a business in El Nido:
● Community Tax Certificate (Individual/Corporation)
● Barangay Clearance
● DTI (sole proprietor), SEC w/ Articles & By Laws (Corporation), or CDA (Cooperative)
● Certificate of Occupancy
● Sanitary Permit
● MENRO Certification
● Local Tourism Standards Certification
● Fire Safety Inspection Certificate
● Sewage & Septage Management Unit Form
● List of Employees
Note that the requirements may vary depending on the type of industry and business that you plan to launch. You can also send a message to the Business Permit and Licensing Division El Nido Palawan’s Facebook page for further questions and in-depth instruction.
4. Purchase an Insurance Policy
For the next step, you should make sure that your business is properly insured because dealing with unforeseen circumstances such as the destruction of property or a customer lawsuit, may be expensive.
Among the many kinds of business insurance, there are several essential insurance plans that
most businesses can take advantage of. For instance, General Liability (GL) insurance is
recommended for most businesses as they cover damage to property, bodily injuries, and
personal injury to you or a third party.
5. Build your Workforce
Lastly, you'll need to onboard strong manpower to help you successfully carry out your
business. It is encouraged for new businesses to employ workers from the island itself to
establish a deeper connection with and provide a livelihood to the locals there.
Here’s a list of the documents that must be submitted by the employees:
● Working Permit
● Barangay Clearance
● Health Certificate
● Certificate of Training (if applicable)
Want to do business in El Nido or start building your own store? Send us a message!