Socio-Economic Aspect+Sample

SOCIO ECONOMIC-STUDY The proposed business, “ForMenSuLa’s Crochet Products” will bring satisfaction to customers, who are looking for uniquely made bags, pouches, coin purse, cellphone holders and key chains. The business will provide the customers variety of choices, from small to the biggest and from with the most intricate designs to the simplest. This newly made kind of product will surely attract customers of different gender and ages.
ForMenSuLa’s Crochet Products will benefit its owners and staffs through maintaining and improving their living needs and providing products to ensure customers satisfaction. The business will also contribute improvement for the government by the payment of taxes.
6.1. Contribution to the Economy The proposed business will benefit the economy through providing employment. This will give the hired employees and their families their source of income for their living needs. That consumers income will help keep the economy stimulated. This business will support local workers as well as professionals and alleviate the need for local employment. It will also promote the creativity of the individuals, concerned in this project. The business will also contribute to the competition which will lower the price of the product but will maintain the quality of the products.
6.2. Contribution to the Government As Filipino citizens, the business owners and business will pay their tax liabilities mandated by the law. Tax will help the government generate funds for the improvement public service and government projects.
6.3. Contribution to the Society The proposed business will rebirth and revive the crochet industry in Daet that will give them another style, design and made from different materials that they used to like. ForMenSuLa’s Crochet business will keep this town interesting and will help add individuality and characteristics that will attract more tourists, which, in turn leads to money placed directly into the community. The business will also be an active purchaser of other manufactured products. The ForMenSuLa’s Crochet business will perform an act of Corporate Social Responsibility as a way of giving back to the community.
6.4 Contribution to the Partners The proposed business will give salaries and necessary benefits to the partners with legality and according to the law. Their skills will be improved through managing the business.

ENVIRONMENTAL ASPECT
The economy will need to grow, but this must be within the context of reduced environmental impact and a greater resilience to future environmental challenges. As an adherence to these, the proposed business will ensure that all precautions needed are taken into consideration. Compliance with environment legislation ensured by the government will be executed properly. Preservation and conservation of the environment will be one of the priorities of this business after all ForMenSuLa’s Products are made from plastics which contribute greatly to the population because of its long life. These products being made out of plastics are a form of recycling and another way of using plastics than how it is actually used, hence, making it more usable than before.
This business will also use and build a facility that will show environmental compliance. The equipment to be used will be tried as much as possible to eliminate the threat of adding potential harm to the environment and to the person/s that will use it. Decisions that will affect significantly affect the quality of human environment will be known to the general public. The business will segregate wastes into biodegradable and non-biodegradable categories. The wastes will be thrown properly and made sure no leaks of any kind will be populating water, land or air. The six performance indicators (Energy efficiency, Material efficiency, Water, Waste, Biodiversity, and Emissions) will be properly established and followed. Used of eco-friendly equipment will always be taken into account provided that such equipment is within the budget range.

Socio-Economic Aspect – the objective of this aspect is to determine how the project will affect the income (considering the benefits it will give to families and individuals),taxes (indicating the amount of revenue it could raise for the government), prices(considering the influence of the proposed project on supply of goods), local producers(considering the use of locally manufactured machines, raw materials, and labor),community.