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    Small and Medium Enterprises

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    makulitnatupa
    The document discusses laws and policies in the Philippines that aim to support small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) including the Go Negosyo Act, Barangay Micro Business Enterprises Act, and Magna Carta for Micro, Small, and Medium Enterprises. It also outlines efforts to simplify business licensing and provides examples of an SME in crafts, an MSME in sustainability solutions, and an IT consultancy.

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    Small and Medium Enterprises

    Uploaded by

    makulitnatupa
    7 views2 pages
    The document discusses laws and policies in the Philippines that aim to support small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) including the Go Negosyo Act, Barangay Micro Business Enterprises Act, and Magna Carta for Micro, Small, and Medium Enterprises. It also outlines efforts to simplify business licensing and provides examples of an SME in crafts, an MSME in sustainability solutions, and an IT consultancy.

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    The document discusses laws and policies in the Philippines that aim to support small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) including the Go Negosyo Act, Barangay Micro Business Enterprises Act, and Magna Carta for Micro, Small, and Medium Enterprises. It also outlines efforts to simplify business licensing and provides examples of an SME in crafts, an MSME in sustainability solutions, and an IT consultancy.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    7 views2 pages

    Small and Medium Enterprises

    Uploaded by

    makulitnatupa
    The document discusses laws and policies in the Philippines that aim to support small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) including the Go Negosyo Act, Barangay Micro Business Enterprises Act, and Magna Carta for Micro, Small, and Medium Enterprises. It also outlines efforts to simplify business licensing and provides examples of an SME in crafts, an MSME in sustainability solutions, and an IT consultancy.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Small and Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises

    (MSMEs) in the Philippines:

    1. Go Negosyo Act (Republic Act No. 10644):


    o Enacted in 2014, this act aims to promote job generation and inclusive growth
    through the development of MSMEs.
    o Salient features include:
     Establishment of Negosyo Centers in all provinces, cities, and
    municipalities nationwide.
     Creation of a Start-up Fund for MSMEs sourced from the MSME
    Development Fund and BMBE Fund.
     Provision of Technology Transfer, Production, and Management
    Training, as well as Marketing Assistance for SMEs.
     Recomposition of the MSME Development Council with additional
    functions1.
    2. Barangay Micro Business Enterprises (BMBEs) Act (RA 9178):
    o This landmark legislation defines the current national policy to promote, support,
    strengthen, and encourage the growth of MSMEs.
    o It provides a business environment conducive for MSMEs by offering benefits
    such as tax exemptions and simplified business registration processes.
    o The full text of RA 9178 and its implementing rules and regulations (IRR) are
    essential references for BMBEs1.
    3. Magna Carta for Micro, Small, and Medium Enterprises (MSMEs):
    o Enacted in 1991 (RA 6977) and further amended in 2008 (RA 9501), this law
    supports the development of the Filipino entrepreneurial spirit.
    o It ensures a favorable business environment for MSMEs by promoting their
    growth and providing necessary support.
    o The full texts of RA 6977, RA 8289, and RA 9501, along with their IRR, offer
    comprehensive insights into the Magna Carta for MSMEs1.
    4. Simplifying Business Permit and Licensing Process of Local Governments:
    o A joint effort by national and local governments to streamline business
    registration requirements.
    o Simplification aims to enhance productivity, improve competitiveness, and
    facilitate business operations for MSMEs1.

    These laws collectively contribute to fostering a vibrant and resilient MSME sector in the
    Philippines, supporting economic growth and employment opportunities

    THREE EXAMPLES OF SMALL AND MEDIUM ENTERPRISES (SMES) AND MICRO,


    SMALL, AND MEDIUM ENTERPRISES (MSMES) ALONG WITH THEIR PROFILES:
    1. Crafty Creations Co.:
    o Business Description: Crafty Creations Co. is a family-owned SME specializing
    in handcrafted home decor and personalized gifts.
    o Profile:
     Products: Wooden signs, custom-made photo frames, hand-painted
    ceramics, and seasonal decorations.
     Market: Primarily sells through local craft fairs, online platforms, and
    social media.
     Challenges: Balancing quality craftsmanship with affordability, marketing
    to a wider audience.
     Impact: Adds warmth and uniqueness to homes, supports local artisans.
    2. GreenTech Innovations:
    o Business Description: GreenTech Innovations is an MSME focused on eco-
    friendly solutions for urban living.
    o Profile:
     Products: Solar-powered LED streetlights, rainwater harvesting systems,
    and vertical garden kits.
     Market: Collaborates with local governments, real estate developers, and
    schools.
     Challenges: Raising awareness about sustainable practices, navigating
    regulatory approvals.
     Impact: Reduces energy consumption, promotes environmental
    consciousness.
    3. ByteBites Software Solutions:
    o Business Description: ByteBites is an IT consultancy and software development
    firm.
    o Profile:
     Services: Custom software development, web applications, and mobile
    app solutions.
     Clients: Small businesses, startups, and nonprofit organizations.
     Challenges: Staying updated with technology trends, managing client
    expectations.
     Impact: Enhances operational efficiency, empowers clients with digital
    tools.

    Remember that these examples represent the diverse landscape of SMEs and MSMEs, each

    contributing uniquely to economic growth and community development. 🌟

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