ECONOMIC ENTERPRISE, are income-generating establishments created for the purpose of improving production and delivery of basic goods or services for a specific market or client group which may include, but are not limited to:
- Public markets;
- Slaughterhouses;
- Cemeteries;
- Sports, cultural, and recreation centers;
- Parking lots;
- Ice plants;
- Hospitals; and
- Special and tertiary schools.
An economic enterprise may be established after the conduct of a feasibility study showing proof of its economic and social viability in the long term.
A business development plan for the economic enterprise should be prepared (long-term, medium-term, and annual plan) stating its mission of purpose, clients or beneficiaries, strategies, activities and projects, organizational structure, financial plan or budget and expected returns.