As for now, you need to brainstorm for the name of your business, so you can register that name with the Department of Trade and Industry (DTI). If this is your first try to go into business, and with the amount of initial capital you have, I think it would be advisable to go into sole proprietorship first (which you can incorporate later if the situation suggests). After registering your business name, you will need to obtain a mayor's permit. It may also require indorsement from Buerau of Fisheries and Aquatic Resources (BFAR). Then you need to register it with the BIR to obtain your official Receipt and pay the necessary taxes.