5 Government SME Programs You Should Take Advantage Of
Because growth is the main priority
Small businesses play an essential part in the economic development of the country—and the Philippine government recognizes this. In fact, the government offers various programs to help aspiring entrepreneurs kick-start their businesses and grow it.
Being an entrepreneur is no easy task. As partners, Globe aims to help set up and eventually grow your business to its fullest potential. More than just providing quality mobile service and high-speed internet connection, Globe wants to help in as many ways as possible.
If your business falls under the small-to-medium enterprise (SME) category, below are five government SME programs that you can take full advantage of.
As a product of RA 10446, also known as The Go Negosyo Act,” the of Negosyo Center allows the creation of more jobs by aiding the boost of the growth of SMEs. With a goal to help you set up your business, the Negosyo Center has three main services:
Business registration assistance
Applying for the necessary permits can be very confusing and tedious. Visiting a Negosyo Center will help you ease the registration process so that you can focus on the bigger picture of your business.
Business advisory services
If you need guidance on how to run your business, you can always consult with one of their specialists, who can then help you develop a feasible business plan.
Business information and advocacy
For those who lack any prior knowledge on running a business, you’ll have the opportunity to learn through seminars conducted by your local Negosyo Center.
Small and Medium Enterprise Roving Academy
It’s only natural that the number of seminars conducted by Negosyo Center cannot satisfy the demand for it. To help the discrepancy, it partnered with established agencies and entrepreneurs to establish the SME Roving Academy.
With a goal to increase the number of local businesses that can compete in the global market, DTI travels to different communities around the country to conduct free seminars for aspiring entrepreneurs.
KAPATID MENTOR ME Program
Initiated by the Department of Trade and Industry (DTI), the program aims to assist SMEs by education entrepreneurs with the necessary skills to run a business. It is a 12-week program that consists of 10 modules that cover product development, marketing, operations management, accounting, taxatin, finance and obligations and contracts.
Once the sessions are complete, the requirement for graduation is a presentation of the mentee’s improved business plans. This program is open to business owners and managers of micro-enterprises that have been running for at least one year.
Shared Service Facilities Program (SSF)
Competition is an important factor in the growth of a business. Sadly, the facilities and equipment that various businesses need to stay ahead of the competition tend to be costly.
So in order to give different SMEs a chance to go head-to-head with other businesses, the Shared Service Facilities program was launched. The SSF program provides businesses all over the country the opportunity to borrow necessary equipment, tools and resources in order to help increase their productivity.
However, DTI must first assess the eligibility of your business and therefore has an application process. You can learn about it here.
Barangay Micro Business Enterprise
Signed into law in 2003, the Barangay Micro Business Enterprise (BMBE) Law encourages the formation of such through incentives and benefits. As an entrepreneur, registering will grant you income tax exemption, exemption of coverage from the minimum wage law, social security and healthcare benefits, priority for a special credit window, assistance programs and training and, through it depends on the LGU, possibility of reduction in the amount of taxes, fees and charges when setting up.
To know more about the program’s registration process and criteria for eligibility, click here.
Other than government SME programs, there is Globe myBusiness, which offers various SME plans to help solve your business woes. As your partners, Globe wants to do their part in assisting you an all phases of your business development and operations. Visit us here or by calling (02) 730 1000.