MAGNA CARTA FO MSMEs

It is classified as a small enterprise if ________________. Give examples.

-10-99 Employees -3,000,000-15,000,000 -Enterprise engaged in industry, agribusiness and/or services -Groceries, education,

It is classified as a medium enterprise if ________________. Give examples.

-100-199 Employees -15,000,000-100,000,000 -Enterprise engaged in industry, agribusiness and/or services -Manufacturing, education, wholesales

It is classified as a Micro enterprise if _____________. Give examples.

-Less than 10 employees -Not more than 3,000,000 -Enterprise engaged in industry, agribusiness and/or services -Coffee shops, restaurants, laundry, etc.

What are the incentives and government support given by the government?

Eligible MSMEs shall be entitled to a share of at least ten percent (10%) of the total procurement value of goods and services supplied to the Government, its bureaus, offices and agencies annually.

What is the importance of Micro, Small and Medium Enterprises Development (MSMED) Council?

Medium Enterprise Development Council shall be strengthened to effectively spur the growth and development of MSMEs throughout the country and to carry out the policy declared in this Act

What are the eligibility for magna carta or set of standards by the government?

1. It must be duly registered with the appropriate agencies 2. It must be owned or capitalized by Filipino citizens 3. The enterprise should be a business activity within industry, trade, services, tourism and agri-business. 4. It must not be a branch, subsidiary or division of a large scale enterprise.

What are the top 5 industry sectors?

1. WHOLESALE AND RETAIL TRADE 2. ACCOMODATION AND FOOD SERVICES 3. MANUFACTURING 4. FINANCIAL AND INSURANCE ACTIVITIES 5. OTHER SERVICE ACTIVITIES

What is the powers, duty and functions of MSMED Council?

1.Cultivate- establish the needed environment and promote the productivity. 2. Policy implementation- promulgate implementing guidelines and provide appropriate policy. 3. Review existing policies and determine the progress.

How many of all the businesses in the Philippines are MSMEs

99.51%; 957,620

MICRO, SMALL, AND MEDIUM ENTERPRISES

any business activity or enterprise engaged in industry, agribusiness and/or services.