SEC Urges MSMEs to Incorporate, Tap Capital Market for Growth

MANILA, Philippines — The Securities and Exchange Commission (SEC) is encouraging more micro, small and medium enterprises (MSMEs) to incorporate their businesses, saying the move would give them access to fundraising opportunities in the capital market and support their long-term expansion. The appeal came during the agency’s three-day “Juan with SEC Caravan: Oportunidad Para sa Pag-Asenso ng Negosyo ni Juan,” where more than 600 business owners attended the event. READ: More vibrant capital market seen with new CMEPA legislation The caravan featured discussions on company registration, good corporate housekeeping, regulatory compliance and the various ways businesses can raise funds through the capital market to finance their growth. The SEC also assisted participants with its online services and other transactions while providing a venue for MSMEs to showcase their products and services and connect with government agencies and private-sector partners. READ: Legarda: MSMEs everyday lifeblood of Filipino communities “Every large corporation was once a small business … So never underestimate where you are today. The next great Filipino enterprise may begin in a sari-sari store, a home-based business, an online shop or a family business represented in this very room,” SEC Chair Francis Lim said. The Commission noted that MSMEs account for more than 99 percent of businesses in the Philippines and employ over 60 percent of the country’s workforce. INQ