Magna Carta for MSMEs
May 8th, 2008 | Category: Business-related News, NewsThe bill to promote entrepreneurship by strengthening development and assistance programs to micro, small, and medium scale enterprises, otherwise known as the Magna Carta for MSMEs was recently signed into law. The Magna Carta or RA 9501 has amended RA 6977 to include micro enterprises. A business is classified micro when its total asset is worth not more than P3 million. Microenterprises account for 92% of the local economy and 38% of the total labor force.
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The lowly sari-sari store takes on a new name and look with MicroVenture's HAPINOY. Following the footsteps of giants like MiniStop and Joliibee, the country's first and only sari-sari store chain envisions a massive, unified group of sari-sari stores that has a brand, owned and run by disciplined microfinance borrowers, and trained with standardized operating systems.






