Guide on Business Permit Renewal Cost for First Time Business Owners
BUSINESS PERMIT RENEWAL COST – Here is a guide on how much you must prepare in renewing your business permit or Mayor’s Permit.
While many people were able to grow their money through a profitable business, running a business is not as easy as counting 1, 2, and 3. There are a lot of things that you have to know – or, more so, you have to master. Of course, one of these is the way to get your business to success.
However, running a business is not all about the ideas on how to grow it. It also requires responsible management so it can continue its operation. It is important to always have the things needed to prove that you are operating legally.
One of the requirements in running a business is the Mayor’s Permit or the Business Permit. It can be obtained from the business registration center of your city or municipality.
Why is a Business Permit or a Mayor’s Permit needed? This document certifies that your business complies with the ordinances or rules in the city or municipality where it is operating. Every city or municipality may have a unique set of rules that should be followed to obtain such certification.
For corporations and partnership businesses, registration with the Securities and Exchange Commission (SEC) is needed before you can obtain a Business Permit. Self-employed individuals must register their business with the Department of Trade and Industry (DTI) first.
How much does the business permit renewal cost? Based on an article on Business Academy, you must prepare at least P2,000.00.
Aside from the business permit renewal cost, there are documents that you must prepare for the renewal. To check on the documents that you must prepare, you may visit – Requirements for Business Permit Renewal – List of What You Must Prepare.
