PERFORMANCE TASK

Choose among the images only two (2) current problems that the Filipino entrepreneurs face and write
down 5 best practices that can be used for the business to continuously operate and grow.

RENT

1. Be precise on the space

When renting, you should always consider the space that your business will need before anything else,
because it will highly affect your earnings on your business. If the space is not suitable for your business,
your product or service will mostly likely lose value because rent is much higher compare to the
earnings of your business. For example, if you want to build a business such as a donut shop, you can
rent a small space, especially if you are just starting your own business. Why do you need to do this?
Because people who buy donuts are most likely to eat them at home or in just one sitting, so a big space
is useless for that. But if you want to build a restaurant, you can rent bigger space, but again, the space
should be suitable for your restaurant. By considering the space of your business, will help you save up
money as well as help your business avoid bankruptcy.

2.Consider if the area is urban or rural

When renting, you should always know your location, because if you are in an urban area the rent is
much higher compared to rural areas . So being wise in choosing your rental location is important. For
example, if you are just starting your business and you want to start in the urban, you should consider
your competitors that can affects your earnings. Urban areas have more customers compared to rural
areas but the cost of rent is high and your earnings are not guaranteed because of the numbers of your
competitors. Therefore, you should always make a wise decision for your business to continue to grow.

3. Be aware of the Environment

Being aware of your environment is crucial in building a business. Because the environment will reflect
on your business. For example, if the environment that you are renting is full of robbery, most likely
your customers will probably not come to you to buy your product because of the bad reputation of the
place. Another example is that if the location of your business is prone to flooding, customers will not
come to you because of the situation.

4. Evaluate several rental properties

As a business owner, you should look into various rental locations to see where the most customers
may interact. Your business has a good probability of succeeding if you take this action.

5. Find a rental space who has a good landlord

Having a good landlord for renting for your business is good because, having this landlord will not
abuse their power, for instance, charging extra payment that can affect your earnings. In addition,
having a good landlord means faster maintenance. That can help to grow your business more.

INVESTMENT

1. Do not invest on investment that you are not familiar

Being educated about investing is necessary because the probability of losing money if you are not is
great. Another benefit is that if you are familiar with the investment, you can move quickly to let your
money to grow in value and outpace inflation

2. Invest as soon as possible

Making a business requires discipline, and starting investments as soon as possible can help in the
development of discipline. And as a business owner, investing early gives you the assurance to take on
greater risk because you have the chance to make better returns because you can recover from poor
decisions without endangering your company. Additionally, you have more time and room to develop.

3. Do not settle on a malicious INVESTMENT

Being careful in investing is important because your money is on the line as well as the well-being of
your company. And the chance of losing all of the money you invested is high. And if you lose a lot of
money, the chance of your business continuing is unclear, also the chance of bankruptcy is high.
4.Make a clear plan

Having a clear plan for investing will help you spend your money efficiently. And can help you identify
your needs.

5. Keep track on your investment

Understanding how much money you have invested will help you balance what you are spending now
and what you expect to spend in the future to grow your business.