Registration Requirements for Micro-Enterprises
MANILA, Philippines - I have always been fascinated by stories of men and women who have succeeded in business as entrepreneurs. Especially entrepreneurs of micro, small and medium sized entities. Indeed, it is amazing how our Pinoy entrepreneurs have hurdled the flops and setbacks that they encounter on their way up.
It was during my stint as Undersecretary of the Department of Trade and Industry (DTI) for 7 years - (2 years as Undersecretary for the International Trade Group and 5 years as Undersecretary for the Regional Operations Group now known as the Regional Operations and Development Group) that I had the rare opportunity to visit the remote barangays of different provinces and saw with my own eyes the fantastic achievements of the rural entrepreneurs that changed the lives of their fellow rural folks.
Not to mention the face-to-face encounters with said entrepreneurs engaged in business activities in micro, small, and medium sized enterprises. An exciting and memorable experience that I will always cherish.
While at the DTI, we nurtured with pride and joy the transformation of small businesses into exporters and multi-million businesses. While at DTI, we saw businesses of optimistic entrepreneurs who were not afraid to fail - that failed. We saw entrepreneurs who did not deal with failure with a sense of finality. Instead, they used their failure as a springboard to other businesses. All because of a winning attitude.
Today, there are thousands of micro, small, and medium-sized enterprises in the different provinces/regions in the country. Not to mention too, the fact that everyday, there are more and more micro and small enterprises being formed/organized/launched. Statistics show that 91.6% of enterprises in the Philippines are micro-enterprises; 7.6% are categorized as small; 0.04% as medium; and lastly 0.04% as large enterprises.
As of 2008, there were a total of 761,409 enterprises in our country registered as micro, small, medium and large. Percentage distribution then was as follows: - 91. …