SOCIO-ECONOMIC ASPECT

INTRODUCTION

Socio economic aspect shows the benefits and beneficiaries of the study.

Businesses are one of the main contributor in a country’s economy. In this aspect,

the proponents will consider the economic, environmental and social

development in the establishment of Origen to its partner, employees,

customers, government, the economy, the environment and the society. This

portion of feasibility study presents the benefits that the people and other entities

will obtain and enhance the standards of living in a community

BENEFACTORS

Partners

First and foremost, it is basic knowledge that most businesses are put up in

order to gain profit. Assuming that the business will be profitable, the partners will

then gain income from sharing of the profit attained from the business

Employees

Aside from obtaining profit, another objective of putting up a business is to

provide employment opportunities for the members of the community. By

providing employment opportunities for individuals of the community, Origen

aims to better the standing of its employees and provide reasonable wages for

the said employees to meet their daily needs and maybe even live a relatively

comfortable life.

Customers
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As stated in the Market Aspect of this study, Origen aims to provide the

customers a type of convenience which aims to improve the quality of their lives

by saving precious time and resources. In alignment with Origen’s vision, mission,

and objectives, an excellent quality of service and a wide but quality assured

variety of products.

Government

Aside from generating profit for the owners of the business, Origen’s

success would generate a valuable amount of profit for the government as well,

whether it be by chipping in a relatively small contribution in a nationwide sense,

or providing a notable amount to the Municipality of Baguio, doing so through

the payment of taxes and whatnot. In the table below, the various fees which go

to the government are listed except for the tax (of which is shown in the

Financial Aspect of this study instead) in order to better conceptualize the figures

which are to benefit the Government.

Table 5.1 Taxes and Licenses

Permit / License Importance Cost

Verify and reserve the

Securities and company name with
Exchange Commission the Securities and Php 40.00
(SEC) Exchange Commission
(SEC)

Notarize treasurer's
Notarize Php 500.00
affidavit at the notary

Business Registration Register the company

Authorized Capital
with the SEC and pre-
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registration for Taxpayer Stock

Identification Number
Php 6,000.00
(TIN), Security System
(SSS), Philippine Health Legal research fee
Insurance Company
(PhilHealth), and Home Php 60.00
Development Mutual By-laws
Fund (Pag-ibig Fund).
Php 500.00

Registration of stock
and transfer book

Php 150.00

STB

Php 320.00

Research Fee

Php 10.00

TOTAL COST:

Php 7,040.00

Barangay clearance is
obtained from the
Barangay Clearance Php 500.00
Barangay where the
business is located

Pay the annual

community tax and
Community Tax obtain the community
Php 500.00
Certificate tax certificate (CTC)
from the City Treasurer's
Office (CTO)

License Fee

Php 7,500.00
Obtain the business Business Tax
Business Permit permit to operate from
the BPLO Php 2,408.05

Mayor’s Permit

Php 200.00
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Sanitary Inspection Fee

Php 150.00

Signboard Fee

Php 50.00

Business Plate

Php 300.00

QCBRB

Php 100.00

Zoning Clearance

Php 545.00

Garbage Fee

Php 1,300.00

FSIC

Php 300.00

TOTAL COST:

Php 12,853.05

Certification Fee

Php 100.00
Apply for Certificate of Documentary Stamp
Certificate of
Registration (COR) and Tax
Registration (COR) and
TIN at the Bureau of
TIN Php 15.00
Internal Revenue (BIR)
TOTAL COST

Php 115.00

Registration Fee

Pay the registration fee Php 500.00

Documentary Stamp and documentary
DST
Taxes (DST) stamp taxes (DST) at
the AAB Php 2,500.00

TOTAL COST:
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3,000.00

Farmers

A well-known problem in the municipalities of Baguio and La Trinidad is the

fact that the farmers of La Trinidad have a hard time bringing their products in

the hands of the public market so that they may be sold and that they may

acquire their profits for all they’ve worked for. The fact that Origen is willing to

accommodate these farmers as suppliers for fresh produce solves the problem of

the oversaturation of fresh produce in the public market and helps the farmers

immensely.

Economy

When looking at the bigger picture, all of the benefits listed for the

stakeholders mentioned above also help in bettering the economy of our

country. The fact that Origen will be providing many financial opportunities for a

handful of beneficiaries provides a chance for more money to be brought into

circulation, thus effecting the betterment of the economy. Job opportunities,

more taxes to be paid, more money put into circulation by operating activities

and etc. There is no doubt that the success of Origen will be able to help the

economy of The Philippines, even if it’s just marginally

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Community

Aside from the inherent benefits to be enjoyed by the community due to

the reasons stated above, the company also aspires to effect sustainable

outreaches and charitable programs for the benefit of the community. Included

in the possible programs in relation to the corporate social responsibility of the

company are programs such as donations to charitable institutions, feeding

programs for the less fortunate, and outreach programs to the communities who

are deemed to be in need. At the moment, the company is to hold a program

every year, setting aside a budget of Php 20,000 – 30,000 pesos as an estimate

for the cost of the programs.

Summary

 Origen aims to provide employment opportunities for the members of the

community by providing employment opportunities for individuals of the

community.

 Origen aims to provide the customers a type of convenience which aims

to improve the quality of their lives by saving precious time and resources.

 Origen will comply to tax laws and other requirements provided by the

government.

 Origen is willing to accommodate the local farmers of La Trinidad as

suppliers for fresh produce.

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 By complying with tax regulations and labor laws, giving opportunities for

employment, there is no doubt that the Origen’s success will be able to

help the economy of the Philippines especially in Baguio City.

 Origen plans to hold charitable programs and outreaches for the benefit

of the community, setting aside 20,000-30,000 thousand pesos annually.

Submitted by:

Abuan, Allen Angelo

Caoili, Franco Dean

Macasieb, Ramir

Reyes, Charles Andrew

Siodacal, John Paul