Keeping our Business Alive during Covid-19 Pandemic - Planting Chocolate Trees Episode #11
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- čas přidán 13. 04. 2020
- #COVID19 #SMALLBUSINESS #MSME #CACAOCULTURE
Hi we are Kenneth & Shiela Reyes-Lao from Cacao Culture! We are based in Davao City, the Chocolate Capital of the Philippines!
Planting Chocolate Trees Vlog Series - is our vlog about cacao farming and chocolate industry in the Philippines and a documentation of our own chocolate journey. We will be sharing with you what we have learned through our experiences in cacao farming, cacao-based product development and making or eating chocolates.
Are you finding it hard to know how you can proactively manage your business during the coronavirus pandemic?
In this video, we talk about how we manage Cacao Culture at a time like this.
Subscribe and follow our cacao journey: bit.ly/2VF14vk
Government Programs for COVID-19
COVID-19 Government Portal - www.covid19.gov.ph/covid-19-faqs/
DOLE - www.dole.gov.ph/covid-19-miti...
DTI - www.dti.gov.ph/covid19/
DOF - www.dof.gov.ph/dof-issuances-...
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Cacao Culture: / cacaocultureph
Ken Reyes-Lao: / kenreyeslao
Shiela Reyes-Lao: / shielareyeslao
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Blog: cacaoculturefarms.com/blogs/news
Website: www.cacaoculturefarms.com
Facebook: / cacaoculturefarms
Questions? Comments?
We'd love to hear from you - say hello down below!
Sana all my business,, more vlogs po
Thanks for your support.
Did you start as a sole proprietorship via DTI as a couple?
Have you transitioned to a Corporation/Partnership via SEC?
If yes, when did you transition from DTI (sole proprietorship)?
Hi Jason, thanks for watching our videos and supporting the channel. We appreciate the question that you've asked.
We started our company as a sole proprietorship in 2016. We are a micro enterprise and if you are just about to start please check on the BMBE law which helps small companies by exempting them from income tax if their gross sales is below 3 million. This is our game changing advice for SMEs because a lot of us do not know about this.
There will always be pros and cons on which path to take in starting the company. We have actually gone through both. Cacao Culture is our 2nd venture as a couple. The first was in the IT industry back in 2013 (closed in 2016) which was a corporation. We find that Sole Prop is easier to start, easier to maintain administratively (ex: less signatories, less paper works etc.). So far we plan to keep Cacao Culture as is.
You can also check starting One Person Corporations (OPC) via the SEC. We are not totally familiar with the process or the full pros and cons of doing this compared to a sole proprietorship but it could be a possible compromise between being a sole prop and a full corporation.
I hope that our answer has helped you in some way. Good Luck on your journey!
@@cacaocultureph That is a very helpful insight about your experience.
I have researched about BMBE law before also with OPC. Less paperwork is true compared to a business under DTI vs SEC.
If I understood it right, BMBE is only limited to agriculture ventures and only for Sole Proprietor businesses via DTI, right?
Did you only register the DTI only one of your names? Did you do like a Memorandum of Agreement between the 2 of you for the Sole Proprietorship in DTI?
@@jedwardoo I'm not sure about this but I don't think you can register a sole prop with two names - then that would be a partnership.
Since we are married, the company is under my name but Shiela is the boss because you know what they say... Happy wife Happy life hahaha.
I think it would be best to consult a lawyer about MOAs when starting the business.
As for BMBE it is NOT limited to agriculture.
I am also unsure if corporation status would allow for this.
@@cacaocultureph Thanks for you input and shedding more light about your journey.
My gf and I are planning to explore and plan this out too. :D
@@cacaocultureph It's still a very helpful information to learn from you.
I agree with that motto "Happy wife Happy life" hahaha.
I've learned that it's more limited to DTI per se, that's what I've learned through researching since Fer of 2020.
Pwede po nang mahingi ang contact number ninyo para makahingi ako ng tips para sa pag uumpisa kong magventure sa pagtatanim ng cacao? Salamat po
Hi Juanito, you may check our other videos here on CZcams, because this is where we give our tips on cacao farming and chocolate making.