Skip to main content

SEC holds roadshow on capital formation in Cebu

 


CEBU CITY, Cebu, March 17 (PIA) -- The Securities and Exchange Commission (SEC), along with the various licensed crowdfunding intermediaries, conducted a roadshow on capital formation for micro, small, and medium enterprises (MSMEs) and start-ups in Cebu City on March 17.

The activity highlighted the importance of capital markets and provided opportunities that seek to help MSMEs and start-ups raise funds for business expansion through the use of crowdfunding as a financing option.

The process of crowdfunding enables start-ups and other businesses to source capital from a large number of individuals through online platforms where they offer equity or rewards in exchange for an individual's contribution.

In his keynote speech, SEC Commissioner Karlo Bello recognized the need to broaden the financing instruments available for MSMEs.

"This government recognizes that MSMEs are the backbone of a resilient economy due to their nature of stimulating domestic demand through job creation, innovation, and competition," said Bello.

"This is why we are here today, together with our industry partners, and we wish to present to you the different ways you can acquire financing through the capital market in order to jumpstart your business or expand your operations," the SEC commissioner added.

The MSMEs network accounts for 99.5% of the total businesses in the country, where it hires 63% of the local workforce, constitutes 25% of the country’s total exports, and contributes around 40% to the national gross domestic product (GDP).

Aside from discussing capital formation for businesses, the activity also tackled the initial public offering (IPO) process and the benefits it provided to the companies and businesses who entered into the IPO.

The said topic was presented by Philippine Stock Exchange (PSE) President Ramon Monzon.

The event was also attended by SEC Director Vicente Graciano Felizmenio Jr., Cebu City Mayor Michael Rama, and Cebu Provincial Board Member Glenn Soco.

The Cebu-leg SEC Roadshow is part of a series of roadshows on capital formation conducted nationwide in accordance with Pres. Ferdinand Marcos Jr.’s thrust to provide different financing options for MSMEs and harness their potential contribution to the nation’s economy. (RGC/PIA7 Cebu)

Labels:

Comments

Post a Comment

Popular posts from this blog

Dumaguete crime rate drops

  DUMAGUETE CITY, Negros Oriental, Nov. 10 (PIA) -- The Dumaguete City Police Station has reported that between October 1 to Nov. 7, only 70 crime incidents were recorded, a decrease by 21% compared to 91 incidents in the same period of last year. In a City Peace and Order Council meeting, Lt. Col. Ronoel Fungo disclosed that no homicide, murder, robbery, carnapping, rape and rape with homicide cases were reported in the same period.  The City Health Office also reported that of the total 905 surrenderees or people who use drugs (PWUDs) in 2017, around 334 or 37% have completed their assessment as of Nov. 7, 2023. With the absence of drug dependents and pushers in Poblacion 4, 5, and 7, these are considered drug-free barangays, while Poblacion 6 was declared drug-cleared.  The City Health Office also noted that the low or no response to assessment of PWUDs are due to change of address, unknown whereabouts, conflict in work schedule, and imprisonment.  Meanwhile, the ...
Post a Comment
Read more

POPCOM7 strengthens KATROPA implementation in CV LGUs

  (Center left) Board of Director KATROPA Danao City Federation, Juan Capuno Jr. and POPCOM KATROPA Focal Person, Roberto Yana (Center right) CEBU CITY, Cebu, March 1 (PIA) -- The Commission on Population and Development (POPCOM) Region 7 is strengthening the implementation of Kalalakin-an nga Tinud-anay sa ilang Responsibilidad og Obligasyon sa Pamilya (KATROPA) in the local government units (LGUs). During the Kapihan sa PIA, KATROPA Focal Person Roberto Yana disclosed that they aim to educate the male population of their responsibilities in the family, especially on their roles as son, husband, and father.  Members undergo a training of trainers to have a wholistic understanding of their roles and responsibilities in family planning. Yana explained that they accept members as young as 15 years old so they would be educated on community development, livelihood, and responsible parenthood.  In the same forum, Board of Director of the KATROPA Danao City Fede...
Post a Comment
Read more

EMB 7 creates composite team for water sampling

The Environmental Management Bureau (EMB) 7 of the Department of Environment Natural Resources Central Visayas on Tuesday, Dec. 28, has created a composite team for water sampling in the different parts of the region affected by Typhoon "Odette" (International name: Rai). The EMB 7 deployed two teams conducting ambient water sampling in the Northern Cebu (Liloan area, Consolacion, Mandaue and Mactan Coastal Area) and Southern Cebu (Cebu Port Area, Talisay, Naga and San Fernando). The bureau said the first two samples from Punta Engaño near Movenpick Hotel Mactan Island Cebu and Umapad, Mandaue City near the bridge and Petron) taken last Dec. 23 and 24 were brought to Ostrea Laboratory since the EMB laboratory cannot analyze due to no electricity. The office is still awaiting the result for these two samples which will be available by Wednesday, Dec 29.  It said the other samples taken on Tuesday will also be brought to Ostrea laboratory, an accredited laboratory of EMB 7. (ID...
Post a Comment
Read more