TAGBILARAN CITY, Bohol (PIA) -- The importance of supporting micro, small and medium enterprises (MSMEs) and startups in accessing capital markets, citing them as a top priority of the Marcos administration, was highlighted during the Tagbilaran City leg of the Securities and Exchange Commission (SEC) Roadshow on Capital Formation for MSMEs and startups.
“We are one with President Ferdinand Marcos Jr. in recognizing that MSMEs are the backbone of a resilient national economy,” SEC Commissioner Karlo Bello said during the event held on March 7 at the Bohol Tropics in Tagbilaran City.
Bello said SEC is moving to different regions to bring services closer to the people by promoting the thrust towards financial institution.
The SEC roadshow aims to link small businesses to possible funders that will allow them to grow.
"Since the roadshow's inception last year in Davao, there's been a noticeable increase in MSMEs successfully tapping into capital markets, signaling a promising future for small businesses nationwide," Bello said.
As a result of its series of roadshows in 2023, SEC was able to encourage MSMEs to participate in crowdfunding, generating millions in capital for hundreds of small businesses.
Crowdfunding is a method of fundraising where money is sourced from a large number of investors – usually through an online platform.
This allows investors to access investment opportunities and enables MSMEs and startups to access new sources of funding for their businesses.
The nationwide roadshow also discussed financing options through the Philippine Stock Exchange (PSE) as part of the commission’s "888@88" goal.
Under this goal, SEC targets to have at least 888 companies tap the capital market in time for its 88th anniversary this year.
Following the success of the roadshows, the commission recently launched the Call-a-Friend and Engage with SEC (CAFÉ SEC) platform, allowing roadshow attendees to connect with crowdfunding intermediaries and the PSE for inquiries pertaining to their financing needs, and additional information on capital market-based products and services.
Representatives from licensed crowdfunding intermediaries in the Philippines – Investree Philippines and Eastern Securities Development Corporation (Round One), discussed the advantages of crowdfunding and how MSMEs and startups can tap their services and platforms.
Officials from the PSE and Investment and Capital Corporation of the Philippines (ICCP) also discussed the benefits of listing on the stock market for business expansion and growth.
Former Bohol Chamber of Commerce and Industry (BCCI) president and currently the regional governor of the Philippine Chamber of Commerce and Industry (PCCI) Region 7, Engr. Albert M. Uy, thanked the SEC for bringing the roadshow to Tagbilaran City and for providing the entrepreneurs with the vision, opportunities, and direction to explore avenues for growth and prosperity.
The Tagbilaran roadshow was attended by 150 entrepreneurs in Central Visayas who were given an opportunity to engage in one-on-one consultations with the speakers during break-out sessions.
Capping the roadshow was the signing of memorandum of agreement between Bohol Island State University (BISU) President Dr. Anthony Penaso and SEC Cebu Extension Office Director Sheara Lupango-Tamayo for the promotion of Financial Literacy and Investor Education at BISU. (ECB/PIA7-Bohol)
