Chapter 6

SOCIO
ECONOMIC
STUDY
INTRODUCTION

The feasibility’s socio-economic aspects will state the social and economic
responsibility and benefit of the proposed company to the government,
customers, suppliers, employees and the competitors that will be the direct
and user of the proposed product of the company.

6.1 Benefits to the government

The business will benefit the government. Taxes, business permits,

sanitary permits, and other legal documents are all essential. To properly
recognize the corporation, it will adhere to the legal standards established
by the Bureau of Internal Revenue (BIR). The company's taxes will help
and can be used for government projects such as road development,
bridge construction, and other projects.

Taxes and Licenses

Business Clearance
Business Permit 500
Mayor's Permit 1,000
Health Certificate Fee 900
Local Building Official 380
Division (LBOD)
Fire Safety Inspection Fee 340
Sanitary Permit 400
Sticker 30
Zoning Clearance 1,000
TOTAL 4,550

6.2 Benefits to the employees

Working for the business can be a stepping stone for potential workers.
allowing them to earn money and gain knowledge The business believes
in establishing a positive relationship with employees, will result in a
positive outcome. Employees of the company are entitled to additional
perks, which are detailed in the table below.
Employees Monthly 13th SS Phil- PA Monthly
Gross Month S Healt G- Net
Salary Pay h IBI Salary
G
General Manager 25,000 25,000 1,12 875 500 22,500
5
Accountant (On 7,200 7,200 315 252 144 6,489
Call)
Financial Manager
Cashier
Operation and
Production
Manager

The benefits, or the basic wage granted to our employees for services
rendered, will benefit them in fulfilling their future demands.
 Every employee, regardless of position, is entitled to a 13th month of
salary. Every employee who has worked for at least one month in the
current fiscal year is eligible for thirteenth month pay.

 Insurance benefits will be available to SSS members and workers,

including maternity, illness and disability, retirement, salary, and
educational loans are all examples of benefits.

 Philhealth will protect their health by minimizing or perhaps covering

all of their medical bills. 

 The PAG-IBIG Savings Program is a quick, simple, and low-cost

approach to save for the future.the future PAG-IBIG delivers three
main advantages.
  Housing loans and provident funds are offered to employees and
members.

6.3 Benefits to the community

The business has a Community Social Responsibility program. The
unemployment rate will fall because the company will employ people who
do not have a job in the area. Also, for individuals who wish to resell the
products in order to supplement their income. In addition, you can also
increase the number of job openings at other nearby small businesses.
When there is an active community with small businesses scattered
throughout, residents are more likely to shop from one business to the next
rather of traveling to one department store for all they require. Small firms
require additional staff to be productive as their visibility grows.

6.4 Benefits to the environment

The business will be beneficial to the environment by being an
environmental-friendly firm, maintaining the proper segregation of wastes
and imposing proper waste disposal methods. Furthermore, the business
can recycle, employ eco-friendly materials and recycled products, launch
social initiatives, or implement other sustainable business practices. Many
factors influence the sustainability practices that a company employs in a
single day, week, or even year.

6.5 Benefits to the consumers

Customers can benefit from the proponents' product because it helps to
relax and deodorize the consumers' feet, and the latter may determine the
effectiveness of the product. It also informs customers about their thoughts
after using the product.

6.6 Benefits to the Suppliers

The business will benefit the suppliers by purchasing raw materials for the
products from suppliers who have direct access to the road and by
assisting the suppliers in growing their own businesses. As the proponents
buy more raw materials from the suppliers, they tend to form a partnership
and create more prospects for the proponents' business, such as discounts
and so on.