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  • Applied Eco Business Org

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    Shimara Data
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    Services and industry sectors accounted for about 91% of the country’s GDP, with local stores also contributing. There are several types of business organizations that impact the economy through jobs and goods/services. Sole proprietorships are the smallest businesses, operated by a single owner with unlimited liability. Partnerships involve multiple owners where liability depends on the partnership type. Corporations are the largest organizations with shareholders having limited liability.

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    Services and industry sectors accounted for about 91% of the country’s GDP, with local stores also contributing. There are several types of business organizations that impact the economy through jobs and goods/services. Sole proprietorships are the smallest businesses, operated by a single owner with unlimited liability. Partnerships involve multiple owners where liability depends on the partnership type. Corporations are the largest organizations with shareholders having limited liability.

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    5 views2 pages

    Applied Eco Business Org

    Uploaded by

    Shimara Data
    Services and industry sectors accounted for about 91% of the country’s GDP, with local stores also contributing. There are several types of business organizations that impact the economy through jobs and goods/services. Sole proprietorships are the smallest businesses, operated by a single owner with unlimited liability. Partnerships involve multiple owners where liability depends on the partnership type. Corporations are the largest organizations with shareholders having limited liability.

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    of 2

    2018 c.

    Registration with the Bureau of


    Internal Revenue (BIR)
    - Services and industry sectors
    d. Other additional steps such as
    accounted for about 91% of the
    registering employees with the
    country’s total GDP
    Social Security System (SSS) and
    - Local carinderias and sari-sari stores
    Pag-IBIG
    contributed too

    2. Partnerships
    Types of Business Organization
    - Run by multiple owners
    Business Organizations - The business itself is its own legal
    entity
    - Impact the economy through their - The level of liability that owners have
    production of goods and services and is dependent on the type of
    the jobs they offer partnership
    - In understanding their varied impact, - In terms of contributions:
    we need to differentiate the type of a. Industrial Partners
    businesses  Contributes personal
    service to the partnership
    b. Capitalist Partners
    Business Organizations According to Size  Provides money or
    1. Sole Proprietorship property
    - Smallest businesses - In terms of liability
    - Operated by a single person a. General Partners
    - No legal distinction between the  Have unlimited liability
    business and the owner b. Capitalist Partners
    - Owner has unlimited liability  Liability only extends to
    - Unlimited liability means that the their contributions
    owner is responsible for any debts, - In terms of involvement
    lawsuits, or taxes that affect the a. Silent Partners
    business  Does not actively
    - Because there is only one owner, they participate in operations
    are the ones to making management b. Managing Partners
    decisions  Involved in day to day
    - There is also a high level of privacy as operations
    they only need to share financial
    records with tax authorities
    - The process of setting up a sole 3. Corporation
    proprietorship involves registration - Largest of the business organizations
    with a number of government - Has a large number of owners who
    agencies and offices consists of the shareholders
    a. Registration of business name - They gain ownership through the
    with the Department of Trade and purchase of the company’s stocks
    Industry (DTI) - These shareholders have limited
    b. Registration with the barangay liability
    office and mayor’s office where - Its own legal entity
    the business will be located
    - Shareholders are under no obligation
    to shoulder lawsuits or debts

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