The crucial role played by micro, small and medium enterprises (MSMEs) has long been recognized. The established figures are astounding — more than 99% of enterprises in the Philippines are MSMEs. These business entities heavily contribute to economic development and, more importantly, generate employment in a scale larger than big industries. It thus makes absolute sense for lawmakers to pass a legislation that encourages and assists MSMEs during registration, in the conduct of business, and compliance with regulatory requirements.
(Note: The amended/revised text is found below. The original text of RA 6977, BEFORE it was amended by RA 9501, was previously known as the “Magna Carta for Small Enterprises.” RA 9501, the full text of which is also included here, introduced a number of changes. RA 6977 was approved on 22 January 22 1991, RA 8289 on 6 May 1997, and RA 9501 on May 23, 2008.) Continue reading
(Note: Full text of RA 9178, or the Barangay Micro Business Enterprises (BMBEs) Act of 2002, which seeks to encourage micro business enterprises and integrate those in the informal sector with the mainstream economy.) Continue reading