Profile of Registered Businesses in La Trinidad, Benguet

Abstract

The study was conducted in the municipality of La Trinidad to determine the profile of the business in the locality; assess the growth of business according to gross sales, amount of capital, number of employees from 2011 to 2015; and to determine the problems encountered by the business and their perceived solutions to these problems. A total of 130 respondents were surveyed to gather the primary data and the Department of Trade and Industry—Benguet office and municipality of La Trinidad provided the significant secondary data. The data were analyzed through frequency, percentage and descriptive analysis. There were 8, 368 registered businesses in La Trinidad as of 2015. The major business found in the municipality is the Real Estate Lessor because it is in demand. The top leading barangay that has the highest number of businesses is Pico because it is located in the major business center of the municipality where most people are buying or purchasing their needs and it covers where most business are established. Gross sales were based on the growth of the business for the period of 2011-2015 per line of business. The other business sectors have the highest recorded gross sales like the Educational Institution, Restaurants, Hotels, and others. Overall, the gross sales of the businesses continuously increase from more than four billion in the year 2011 to more than seven billion in the year 2015. Most of the businesses have an initial capital of below ₱50,000 for the starting of 2011 and for the end of 2015, their capital increase to ₱51,000 to ₱150,000. This implies that some of the businesses are expanding. Majority of the businesses employed one to two employees from 2011 to 2015 because according to them, they can manage the business on their own and there are least works to do. In terms of production, majority of the business encountered problems in high cost of raw materials and lack of available workers during peak season. The main problems encountered in marketing are price competition and too high rent of space for the business. As to their financial aspect, majority of the businesses encountered problem in limited source of capital. For the solution in production problems, majority of the business said that they will send employees attend trainings and seminar to enhance ideas/ skills. In terms of marketing, they will let their employees attend trainings and seminars to enhance ideas. As to financial aspect, the major perceived solution is to prepare yearly budget and strictly implement it.