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Ideal for: Micro businesses (with assets of not higher than Php3 million) such as sari-sari stores and
market stalls in the Philippines
The P3 program requires no collateral and only a few documentary requirements (valid ID, business
permit, and certificate of good standing) so that micro businesses—which make up around 90% of
registered businesses in the Philippines—can have easier access to business funding.
Being implemented by the Department of Trade and Industry (DTI) in the top 30 poorest provinces in
the Philippines, the P3 Program enables sari-sari store owners, market vendors, agri-entrepreneurs,
and other micro business owners to borrow money at lower interest rates compared to the whopping
20% monthly rate of 5-6 money lenders.
P3 Program
How to apply:
Visit one of the nearest P3 partner institutions, fill out an application form, and submit the
requirements. The Small Business Corporation, an agency under the DTI, will do a credit
investigation to evaluate your capacity to pay off the loan. Loan processing will take 1 to 3 days.
Acceptable collaterals Any collateral acceptable to the SSS-accredited banks and the SSS
How to apply:
BDO
Development Bank of the Philippines (DBP)
Landbank
Philippine National Bank
Philippine Veterans Bank
Planters Development Bank
2. Insol Development Foundation Inc. 200 Capetown St. Greenpark Village, Baranggay
Barangay Micro-Business Enterprises (BMBEs) can now register their businesses, free
of charge, at the Department of Trade and Industry (DTI) through the agency’sNegosyo
Centers.
Registered BMBEs can avail of government incentives that include exemption from the
payment of income tax for income arising from the operation of the enterprise,
exemption from the coverage of the minimum wage law, special credit window of
government financing institutions that will service the needs of BMBEs, as well as
technology and marketing assistance.
Under Republic Act No. 9178 or the BMBEs Act of 2002, a BMBE is referred to as any
business entity or enterprises engaged in the production, processing or manufacturing
of products or commodities, including agro-processing, trading, and services whose
total assets, excluding land, shall not be more than P3 million. Such assets shall include
those arising from loans but not the land on which the plant and equipment are located.
The DTI issued Department Administrative Order (DAO) No. 16-01 last April 22, 2016
which provides guidelines on registering BMBEs at Negosyo Centers. Under DAO 16-
01, DTI is the sole agency which shall issue a Certificate of Authority (CA) to registered
BMBEs at Negosyo Centers or at DTI offices where Negosyo Centers have not been
set up.
BMBEs register at the Office of the Treasurer of the city or municipality where the
business is located.
Republic Act 9178 or the BMBE Act of 2002 recognizes the role of BMBEs as an
essential driving force for the country’s economic development. According to the law,
BMBEs are “seedbeds of Filipino entrepreneurial talents and strengthening them would
increase job generation, provide livelihood and augment Filipinos’ quality of life.”
The primary value of your business plan is to create a written outline that evaluates all aspects
of the economic viability of your business venture including a description and analysis of your
business prospects.
A business plan is an essential step for any prudent entrepreneur to take, regardless of the size
of the business. This step is too often skipped, but we make it easy for you by providing a
format to build your plan as you progress through this course.
Business plans can vary enormously. Libraries and bookstores have books devoted to business
plan formats. But this is a place to start. You can then go on from here to design one that would
be ideal for your particular enterprise.
It is necessary to register your business with this agency in order to gain the exclusive
rights to use your business name. Single proprietors are required to register.
Businesses can be registered at any DTI Regional or Provincial office. The directory of
DTI Regional and Provincial offices may be viewed in the Contact Us page.
You may also apply online at www.bnrs.dti.gov.ph. Registrants outside Metro Manila
may secure and accomplish their application for Business Name with the nearest DTI
regional or provincial offices. Here is the business name registration application form for
the Sole Proprietorship BN application. Click on the said link and download the form to
fill up and submit to the DTI office for walk-in applications.
It is essential for a Partnership or a Corporation to register with the SEC in order for
them to be treated as a legal or judicial entity.
Register at:
SEC Building, Edsa, Greenhills, Mandaluyong City
Tel. Nos.: (+632) 726.0931 to 39
Email: mis@sec.gov.ph
Website: www.sec.gov.ph
or http://iregister.sec.gov.ph/MainServlet (for online registration)
All cooperatives are required to register with the CDA as per Republic Act 6938/6939.
Register at:
Cooperative Development Authority (CDA)
6/F Benlor Building, 1184 Quezon Avenue, Quezon City
Tel. No.: (+632) 373.6895
Website: www.cda.gov.ph
Local Government
All businesses, whatever the legal form, are required to secure a mayor's permit or
municipal license from the city or municipality where they are located. Permits or
licenses are required to ensure that the standards are met and that business complies
with the specific requirements of the business locale. Registration procedure varies
across cities and municipalities.
P4
T: (02) 571.4401 to 05
E: rfchotline@rfc.com.ph
E: tski.corporate@gmail.com
T: (088) 856.5753
F: (032) 234.4500
"Finally, small enterprises can access loans and financing with the full implementation of the Republic Act
10744," said Sen. Bam.
Sen. Bam was the author and principal sponsor of the measure in the Senate during his time as chairman
of the Committee on Trade, Commerce and Entrepreneurship in the 16th Congress.
The law institutionalizes the Bangko Sentral ng Pilipinas' Credit Surety Fund (CSF) program, which
provides small businesses loans ranging from P200,000 to P5 million.
Sen, Bam pointed out that loan needs for small businesses usually range from P500,000 to P5 million,
which is too big for microfinance institutions and perceived as too risky by banks, which usually ask for
collateral.
"Through this measure, we hope more small enterprises will have access to the capital they need to grow
their business," Sen. Bam said.
The law mandates the BSP, local government units, cooperatives, microfinance NGOs and government
financing institutions (GFIs) to create an initial fund.
This initial fund may be used by entrepreneurs and businessmen belonging to cooperatives and
microfinance NGOs, which helped establish it, as collateral or guarantee for bank loans.
Currently, the BSP's CSFs exist in 46 provinces and cities with two more to be launched next week. As of
April 30 2017, the total amount released through CSFs is P3.25 billion to 16,360 MSMEs.
Republic Act 10744 aims to build the capability of MSMEs, cooperatives and non-government
organizations in the areas of credit evaluation, loan and risk management, and good governance.
It also seeks to enhance the MSMEs' credit worthiness and broaden access to credit facilities, and sustain
the continuous flow of credit in the countryside.
"This will generate more employment and alleviate poverty through increased investments and economic
activities," Sen. Bam pointed out.
FINANCING
Start-up businesses can get capital by seeking loans from formal lending institutions like banks/ rural banks,
cooperatives or Micro-Finance Institutions (MFI's). Learn more financing institutions.
However, some budding entrepreneurs don't access conventional financing because of fear of documentary
requirements, lack of collateral, or inexperience. They end up digging into their savings, maxing out their credit cards
or mortgaging their homes. In fact, home-equity loans are one of the most popular borrowing routes.
Own savings
Borrowing against your insurance policy -- provided it is a cash-value life insurance. It cuts the value of your
insurance benefit, but if you're relatively young, you'd still have a long time to pay it back. Interest rates
typically run in single digits.
State pension funds -- If you're an employee, you can also access other sources of low-cost cash through
your state pension funds ; SSS or GSIS salary loans or a PAG-IBIG Fund multi-purpose loan. They usually
let you borrow at the prime rate, but PAG-IBIG's interest is relatively the lowest.
Family loans -- Lastly, you could always try to borrow from your family or relatives, but use this only as your
last resort, since there is risk of starting a family feud. Doing business with family is still doing business, so
remember to put everything on paper to avoid unnecessary complications.
High-interest loans -- Pawnshops are also viable sources of funding, and are very accessible. But starting a
business is a serious venture and it's hard to start one using a high-interest loan as capital. Another popular
non-formal way to get funding, but which is discouraged, is through five-six loans. This means for every five
pesos you borrow, you pay back six pesos after just a few days. Effectively, it is said to be more than 1000%
interest rate on an annual basis. So ask yourself if you want to borrow at that rate when you start a
business.
Keep in mind that money is not the only capital that you have. Your business skills your capacity for marketing,
people and social skills, technical expertise, even your connections can be used as capital for your business.
Sometimes, by being resourceful, you lessen the need for loans and other expenses.
Aspiring entrepreneurs should start small, but dream big. Starting small minimizes the financial exposure and the
risks involved in business start-ups. In fact, many successful entrepreneurs nowadays have their inspiring stories to
share as most of them started small, either from one small store or peddling operations. By learning from their
mistakes and keeping true to their vision, they were able to overcome obstacles and grow their business. Because of
their determination, creativity, forecasting skills, and vigilance in reinvesting their profit into the business, these icons
and role models have shown that it is possible to become successful.
SPONSORED LINKS
Citibank's Guide to Building Personal Wealth -- Written with Asian Pacific readers in mind, this book
contains pieces of personal, financially sound information and introduces key concepts and wise practices
on money management.
SME Business Loans from BPI Family Savings Bank - Make your business prosper with financing
offered specially for SMEs.
Learn more on how to grow your business with BDO SME Loan Equip yourself with the right business
tools to maximize the potential of your business
FINANCING INSTITUTIONS
Need capital? Below are links to resources on funding and financing organizations from both private and public
sector.
Financing Resources
Financing Programs for MSMEs handbook -- Learn about the different government agencies that offer
funding for micro, small and medium enterprises by downloading this handbook compiled by DTI .
Financing Frequently Asked Questions c/o DTI
Small Business Corporation -- Formerly known as the Small Business Guarantee and Financing
Corporation, this government financing institution has more than 16 credit and credit programs, including
micro financing through rural and cooperative banks, through NGOs and cooperatives, and
through microfinance institutions (MFIs).
MFI Search Engine -- Find the nearest microfinance institution in your province by searching through
the People's Credit and Finance Corporation database.
Locate MFIs via SMS: If you're a Globe subscriber, you can also text MICRO FIND [Province],[Town] (ex. MICRO
FIND PAMPANGA, LUBAO] and send to 2973 (Php 2.50/text).
Colayco Foundation Led by personal wealth and finance guru Francisco Colayco, the Foundation works
towards empowering Filipinos through books, seminars, media campaigns, and programs on financial
literacy.
Financial Planner (PDF) This Financial Planner is a learning tool used by IOM and its partner
NGO, ATIKHA, in financial literacy training of migrant worker groups, family circles, diaspora communities
and trainors from different sectors in order to promote wise spending, savings and investment from migrant
remittances.
Following the order of President Duterte to provide progress and prosperity for MSMEs,
we have a framework in DTI that we call 7Ms—ang tatlo dito mangyayari na po
ngayon.”
This was the promise of DTI Secretary Ramon Lopez to the mentees and participants of
the Kapatid Mentor ME launching in Las Piñas City last Thursday as he promotes DTI’s
7Ms of a Successful Entrepreneur—which outlines 7 components an entrepreneurs
needs to start up, sustain, expand, and internationalize their business, as well as
innovate smarter ways to enhance their productivity and profitability. “We want to teach
entrepreneurs to be smarter. Masipag na, matiyaga na, matalino pa,” Sec. Lopez said.
The Trade chief highlighted the importance of these 3 basic components: Mindset
Changing, Mastery and Mentoring, which will be offered for free in the Kapatid Mentor
ME program through the one-on-one mentoring and coaching sessions available in over
540 Negosyo Centers nationwide. As the mentees learn the basic know-how of
entrepreneurship straight from respected business experts, Lopez advised the mentees
to continuously embrace their passion as they grow their business.
GO Negosyo Founder and current Presidential Adviser for Entrepreneurship Mr. Joey
Concepcion also graced the event by sharing the principle behind the 14 years of Go
Negosyo’s partnership with DTI, which was to forge “bayanihan” between large
business players and the 99.6% of MSMEs. “Filipinos are not destined for poverty;
poverty should be our greatest motivation. Our role is to inspire you that everyone CAN
succeed in life,” Concepcion said.
The four other Ms: Money, Markets, Machines and Models, are now made more
accessible and simplified for the MSMEs through the programs of DTI. Lopez also
announced the recently rolled out P3 program, an alternative funding program that will
enable MSMEs to access funds to develop their business. “May access na po tayo
ngayun sa puhunan through the Pondo para sa Pagbabago at Pag-asenso or P3.
Panglaban natin ito sa mga 5-6 (loansharks) na tintakbuhan natin kung walang wala
tayo—babaguhin na po natin yan ngayon. Dito sa P3 mababa ang interes, maikli ang
form, walang collateral, and you can get your loan within the day.” Through the
collaboration of national and local microfinancing partner institutions, P3 is now on full
swing operation with microenterpreneurs as priority.
Sec. Lopez also announced DTI’s plan to expand the market by proposing an
administrative order that will mandate groceries and supermarkets to allot 5% shelve
space for the products of MSMEs, giving more chances for MSMEs to expose and
promote their products.
Machine, another part of the 7Ms, is all about ensuring quality production which the
Shared Services Facility (SSF) program of DTI offers. Senator and Managing Director of
Villar SIPAG Foundation, Cynthia A. Villar also shares before the crowd how the Villar
SIPAG Foundation became a recipient of the SSF project that enable the community to
improve their production of local products. Sen. Villar shared how the foundation
introduced and innovated methodologies to produce products from water Hyacinth and
coco nets from coconut husks which was once a problem of Las Piñas. As a sign of
their continuous support for DTI’s programs, Villar Sipag are also holding programs to
educate and empower farmers in Villar Sipag Farm School to help them to be better
business owners.
“One of the main thrusts of Villar SIPAG is to develop and nurture future and aspiring
entrepreneurs and leaders who can make a difference in the society, providing skills
and technical education to them and enabling them by linking them up with government
and private networks to boost their success,” Villar said.
DTI-NCR Regional Director Anacleto C. Blanco, Jr. formally introduced the 20 mentees
from Las Piñas who will undergo the 10-weeks mentoring program. Dir. Blanco shared
the iniatitives of DTI-NCR to ensure a 100% graduation rate in all of its KMME
programs. “One of the commitments is to religiously attend all the sessions. Yan po ang
panawagan namin sa inyo para di tayo magkaproblema sa ating schedules. We in DTI-
NCR took extraordinary measures to see to it na lahat ng mga mentees will go through
all the modules, dahil requirement po ito bago kayo grumaduate,” Blanco said.
Among DTI’s first step is its ongoing Shared Service Facilities (SSF) Project with
partner PFFI, which provided the much needed machines and equipment for the
common use of the Industry. The facility offers services like Shoe Last Making, Pattern
Grading, Cutting Services, use of CNC machines and design and pattern making
services. The facility also promotes Marikina’s perfect-fit ‘pasadya’ footwear industry or
customized shoes known for its quality and durability. The current facility is already
hitting its full capacity and an expansion is in development and if successful, the new
facility would be the first of its kind in the Philippines.
Sec Lopez also visited the Philippine Footwear Academy, which produces job-ready
workers for the footwear Industry. “Lahat tayo pwede talagang magtagumpay, kasi ang
iba nagawa nila eh—I’m sure kayo kayang kayang nyo,” Sec. Mon Lopez said to the
students of the Philippine Footwear Academy as he visited the academy’s state-of-the-
art footwear machineries, training rooms, footwear technicians and artisans. Aside from
competency building, the Academy also offers consultancy, sample making, and
materials utilization/manipulation services.
On his last stop, Sec Lopez personally visited Marikina’s Pride Rolando “Tatay Oly”
Santos, the shoemaker who gave President Duterte a pair of shoes which the president
proudly wore in his meeting with US Secretary of State John Kerry. Tatay Oly was in
tears as he tells the trade chief how he has no choice but to source his resources from
5-6 lending which resulted to loan sharks visiting him 3-4 times a day. Sec Lopez
guaranteed Tatay Oly assistance through President Duterte’s P3 (Pondo para sa
Pagbabago at Pag-asenso) micro-financing program among other assistances. The P3
program is Pres. Duterte’s instrument for his campaign against 5-6 lending.
The store in Sogo Lippo Mall Puri located in the St. Moritz Central Business District is
the brand’s 9th outlet following the opening of stores in Seibu Grand Indonesia, Sogo
Emporium Pluit, Sogo Central Park, Sogo Alam Sutera, Lotte Shopping Avenue, Metro
Plaza Senayan, Metro Gandaria City, Metro Taman Anggrek.
Philippine Commercial Attaché to Indonesia Alma Argayoso said the sales of the
newest collection during the opening were brisk. The other stores also received positive
feedback.
“It is exciting to bring to the Indonesian market the Philippines’ world-famous Marikina-
made shoes. This affirms our belief on the potential of fashion retail products in
Indonesia, Southeast Asia’s biggest economy,” Argayoso added.
The first overseas store of Rusty Lopez opened in Jakarta on March 6, 2016 at the
Seibu Department Store of Grand Indonesia Mall and featured carefully selected
designs suited to the Indonesian market.
DTI noted that increased interest in Philippine-made shoes abroad helps revive the local
shoe industry and is expected to open more opportunities for small enterprises to
generate employment within their communities.
As part of the DTI’s Industry Promotion Group, the Philippine Trade and Investment
Center (PTIC) in Jakarta will continue to support and assist Filipino homegrown brands
in globalizing their products and accessing regional markets by continuously looking for
potential partnerships.
Aside from Rusty Lopez, other Filipino fashion retail brands in Indonesia include
Karimadon, Penshoppe, Gingersnaps and Ann Ong Jewelry.
Speaking at the Christmas Townhall with President Rodrigo Duterte: Negosyo para sa
Kapayapaan sa Sulu at the Malacañan Palace, Sec. Lopez also urged businessmen to
continue helping the government beat poverty in the country anew.
“Our call for today, to celebrate inclusive business, is to provide continuous market
access for the products of MSMEs, especially in the agriculture sector,” Lopez told
President Duterte and representatives of the business sector.
To usher this initiative, DTI tapped mall chains to provide commercial spaces, where
MSME products from around the country can be purchased by mall-goers.
“In DTI, we commit to mainstream the products of MSMEs, we‘ve had the cooperation
of SM, Ayala, Robinson’s, Rustan’s, City Mall, Star Mall and even Puregold, and many
retailers to allocate a specific place in their malls for free to mainstream and made
available the products of our MSMEs,” Sec. Lopez explained.
With the “Go Lokal” stores stationed at mall-chains, agricultural products, including
those from Sulu, will become a regular fixture in malls, according to him.
“It’s a model that can really provide sustainable market for our agriculture sector,
especially our poor farmers,” Sec. Lopez added.
Meanwhile, the trade chief also reported that the government, through the Office of the
President, will shell out an initial P1 billion financing to provide for micro and small
entrepreneurs.
“The promise of the President is to provide P1 billion per region to help really the start
ups,” he said. The budget will be coursed through DTI