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Chapter 6

The document discusses the socio-economic impacts of a proposed laundry shop business. It states that the business will [1] provide affordable and convenient laundry services for customers, [2] create jobs for workers in the community and contribute to the local economy, and [3] contribute tax revenue to support government services. The business aims to satisfy customers' needs while benefiting employees, the local economy, and the government.

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Veronica Apalla
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32 views

Chapter 6

The document discusses the socio-economic impacts of a proposed laundry shop business. It states that the business will [1] provide affordable and convenient laundry services for customers, [2] create jobs for workers in the community and contribute to the local economy, and [3] contribute tax revenue to support government services. The business aims to satisfy customers' needs while benefiting employees, the local economy, and the government.

Uploaded by

Veronica Apalla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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University of Perpetual Help System Laguna – Isabela

Minante Uno, Cauayan City Isabela


COLLEGE OF BUSINESS AND ACCOUNTANCY
1

CHAPTER 6 

SOCIO - ECONOMIC ASPECT

 Introduction

       This chapter describes the impact of business on society and the economy. It

includes the advantages that can be provided to customers, owners, and employees. It

also covers the benefits that the business could provide once it begins operations.

        The ASAP Laundry Shop will satisfy consumers who are looking for a laundry

shop that will provide good services for cleaning their garments at an affordable price.

The proposed business will assist customers in saving or maximizing their time for

other work or duties.

Contribution to Philippine Economy

The proposed business will be beneficial to the economy because it will result

in the employment of individuals. This will provide the workers and their families a

source of income that they can rely on in their day-to-day lives. Workers in the

community will benefit from this business. Also, it will advertise the business and add

to the competition, both of which will result in a decrease in the price of the service

while maintaining its quality.

Contribution to the Government


University of Perpetual Help System Laguna – Isabela
Minante Uno, Cauayan City Isabela
COLLEGE OF BUSINESS AND ACCOUNTANCY
2

Taxation is the exercise of the sovereign power over individuals, properties,

and transactions for the purpose of raising revenues to pay for the expenses of the

government. Without revenue from taxes, the government cannot operate by itself.

The proposed business would contribute to the welfare of the state by

complying with all applicable laws and regulations, including those pertaining to

taxes, licenses, and registration fees. The government will be able to produce revenue

for the development of public services and other government initiatives with the help

of taxes.

Generating Employees

The owners of the business need employees who can do their jobs well

because they are the company's assets. Employees will also help the company to 

reach its ultimate goal and be successful overall. The proposed business will give

employees and their families a source of income, which will eventually raise their

living standards.

Social Responsibility

As time passes, it will be necessary for the business to increase the number of

employees it hires. These employees are the ones who will be able to satisfy the

requirements and preferences of customers by providing services of a high standard at

prices that are affordable.

The proposed business will make the services marketable or ensure that they

remain marketable by providing valued customers with outstanding service. In


University of Perpetual Help System Laguna – Isabela
Minante Uno, Cauayan City Isabela
COLLEGE OF BUSINESS AND ACCOUNTANCY
3

exchange, there will be opportunities for the community to encourage or attract a

larger number of prospective future customers or investors, which will assist with the

city's efforts to modernize and enhance it. Taxes are paid to the government by

business owners as well as customers, which contributes to the expansion and

development of the economy.

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