Profile of Registered Businesses in Itogon, Benguet

Abstract

The study was conducted in the municipality of Itogon where businesses are found. A total of 100 respondents were surveyed to gather the primary data and the secondary data was obtained from the Department of Industry-Benguet to determine the profile of businesses in the municipality; determine the growth of businesses according to gross sales, amount of capital and number of employees; and the problems encountered by these businesses and their perceived solutions. As of the first quarter of 2014, the type of business mostly found in the municipality of Itogon is convenience store followed by mining which the municipality is known of and barangay Virac is where majority of businesses are found. Furthermore, big mining companies and power generation are found in the municipality. The result shows that the municipality has a positive growth in terms of gross sales. The businesses shows an enormously increasing gross sales for the year 2012-2014 from 179.10% to 1610.66%. Most of the businesses are operating for three years and below and managed by both family and hired employees. In terms of amount of capital invested, the business shows an increasing trend from a capital of below ₱50,000 for the starting of 2011 to a capital ranging from ₱50,000-150,000 for the end of 2015. Also, most of the businesses has one to two employees for the beginning of 2011 then increased to three to four for the end of 2015. The major problems encountered by the respondents are high cost of raw materials, price competition, and limited source of capital. However, their perceived solutions to these problems are to request more relevant government and non-government technical skills upgrading programs, coordinate and make linkage with other business organizations and to prepare yearly budget and strictly implement it.