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CHAPTER VI SOCIO-ECONOMIC STUDY The socio-economic impact of this study will clearly state its relevance to the external aspect of the business.
Contribution to the Philippine Economy Every business establishment will be of great help for the growth and development of the Philippine economy. These will only be possible if every firm will be responsible enough to perform their duties and obligations to their customers, community and of course to the governme nt. Empanada Empire will definitely contribute additional earnings to our government by means of paying right taxes. Through this, the government can able to perform its functions well including continuous support and assistance to the business industry, providing projects for the community such as building infrastructures, public schools and hospitals, strengthening arm forces for the security and protection of the countrymen and other indispensable projects that will benefit the people.
Employment Generation The business will provide job opportunities to many individuals most especially to those people who have great passion in managing day to day activities and other utility employees. Every society wants all its qualified members to be gainfully employed. When individuals are employed they are able
to raise their children support them through school, provide them with decent homes,
acquire
medical
services
whenever
needed
and
contribute
to
government income through the payment of income taxes. Empanada Empire will help lessen the rate of unemployment, number of poor people and employee theft which is commonly scene to all dormitories. The business will be able to do this by employing credible and skilled employee. The company will hire a good security agency ensuring the safety of all its tenants. The eradication of poverty will help to solve social problems like crimes, juvenile delinquency and security.
Increased Production Activity Supply of Commodities The production activity of the project favorably affects the supply situation of the industry in various ways. Where there are few sellers of a particular product or service, the project’s entry reduces the supply shortage, resulting in lowered prices. In an overcrowded industry on the other hand, the project may result in improved product quality and/or decreased prices, especially if it is highly competitive in quality and pricing upon its introduction.
Demand for Materials At the same time, the production activity creates additional demand for raw materials and other industrial inputs. This stimulates the production
114
Empanada Empire
of more raw materials and supplies, thereby promoting linkages within the industry.
Business
Major Contributions
Social & Economic Factors
SocioEconomic Contributions
Taxes
Municipal & National Government
Community Development
Employment
Individual & Family Income
Improved Standard of Living
Empanada Empire
Supply of Commodities
Additional Supply to Domestic Market
Lowering of Prices Production Demand for Materials
