Philippine E-Journals

A Feasibility Study on Establishing a Continuing Professional Development Training and Review Center

Martina Mina Buencillo | John Christian De Guia | Kyla Mae Pablo

 

Abstract:

The researchers studied the feasibility of establishing a Continuing Professional Development (CPD) training and review center in Calamba City, Laguna. It will offer the Certified Public Accountants (CPAs) from Laguna the required units before renewing their license and a practice required by the Board of Accountancy (BoA). It will also offer the quality review for Civil Service Examinations to individuals who like to work in the government and to government employees who want to be regularized. It will be located in an accessible place to accommodate the target market. The researchers used survey questionnaires to collect information to determine the readiness of the target market, the CPAs and qualified individuals. They also conducted interviews with established competitors to know the terms and conditions, list of topics, frequency of training and review, and service cost. The survey revealed that 95.9% of the respondents were willing to take CPD training in Laguna while 98.92% were willing to take Civil Service review in Laguna. These proved the demand for the business. For its start-up operation and renovations, the proposed training and review center will need ®5,816,895.00 which will come from equal monetary contribution of each of the partners. It will take 2.02 years to recover the investment with an average rate of return of 79.24%. Thus, the training and review center is a desirable investment and could be a profitable business venture. Based on the findings, the proponents recommended that the proposed training and review center cater not just the CPD for CPAs and review for Civil Service but also for other professions needing training and review. They should also implement more creative marketing strategies and conduct marketing campaigns with companies in the profession they are trying to market. The proponents also suggested that future researchers conduct a study with a wider market and evaluate all the possible competitors of the business to have more accurate financial projection. It is better to focus on the profitability of the business to identify the business’ financial ratio.