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The Securities and Exchange Commission (SEC) has capped its nationwide roadshow pitching the capital market as an accessible funding source for small businesses and startups for the year. At the same time, however, the Commission has launched a new platform for small businesses and startups to explore and learn more about their financing options in the capital market.
The SEC on December 7 held the 11th and final leg of the 2023 Roadshow on Capital Formation for Micro, Small, and Medium Enterprises (MSMEs) and Startups at The Summit Hotel in Tacloban City. “In our continuous bid for financial inclusion, we recognize that there really is a need to broaden the financing instruments available for MSMEs,” SEC Commissioner Karlo S. Bello said in his welcome message. “Together with our industry partners, we wish to present the different ways you can acquire financing through the capital market in order to jumpstart your business or expand your operations,” he added. The Commission pitched crowdfunding, among others, as an accessible and viable capital-raising option for MSMES and startups for their business expansion. Crowdfunding is a fundraising activity typically conducted by startups and SMEs, where the public can support or fund a business idea through an online platform. Representatives from the three licensed crowdfunding intermediaries in the Philippines, namely SeedIn Technology, Inc., 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 Philippine Stock Exchange, Inc. (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. This was followed by a testimonial of Wilcon Depot, Inc. on its journey toward conducting its initial public offering in 2017, and how going public helped the company achieve key business milestones such as store expansion and operational innovation. The Tacloban roadshow attracted around 70 entrepreneurs based in Eastern Visayas who were given an opportunity to engage in one-on-one consultations with the speakers during break-out sessions. “It is unmistakable that MSMEs and startups have a crucial role in driving economic growth, fostering innovation, and generating employment,” Tacloban City Mayor Alfred Romualdez said in his opening remarks delivered by City Planning and Development Coordinator Janis Claire S. Canta. “Understanding the challenges they face in accessing capital and in navigating the financial market, we have committed ourselves to create an environment conducive to entrepreneurship and investment,” he added. CAFE SEC As it capped this year’s roadshow in Tacloban City, the SEC launched Call-aFriend and Engage with SEC (CAFE SEC). CAFE SEC will serve as a channel for participants of the roadshow to reconnect with crowdfunding intermediaries and PSE for inquiries pertaining to their financing needs, and additional information on capital market-based products and services. CAFE SEC will hold consultation meetings weekly starting December 13. The succeeding meetings will be conducted every Wednesday. Launched in Davao City in February, the roadshow highlighted the financing options available to MSMEs and startups in the capital market, as it featured entrepreneurs and companies who have successfully grown their business after tapping the capital market. Since its launch in February, the SEC has brought the roadshow to key cities including Cebu, Cagayan de Oro, Zamboanga, Bacolod, Legazpi, Iloilo, Clark in Pampanga, Baguio, and Metro Manila. The year-long roadshow has attracted about 1,500 in-person attendees and more than 8,000 online attendees. The roadshow is part of the initiatives of the SEC Office for the Advancement of Strategic Investments in SMEs’ (OASIS) to support the viability and growth of the MSME sector by setting up innovative and capital-raising markets, streamlining the registration process, and encouraging investment houses and other financial institutions to implement SME-friendly advisory programs, among others. The initiative is also part of the Commission’s 888@88 goal, under which the SEC targets to have at least 888 companies tap the capital market in time for its 88th anniversary in 2024.
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