The Securities and Exchange Commission (SEC) is making strides towards the advancement of micro, small, and medium enterprises (MSMEs) in the Visayas region through the promotion of crowdfunding as a feasible funding solution.
The SEC’s Roadshow on Capital Market Formation for MSMEs and startups, held in Cebu City, garnered an impressive turnout, attracting over a hundred onsite participants and 185 virtual participants from various business groups, companies, and government agencies.
The SEC’s push towards crowdfunding is aligned with President Ferdinand R. Marcos Jr.’s vision of providing more financing options for small businesses, which are integral in stimulating domestic demand through job creation, innovation, and competition.
With MSMEs accounting for 99.5 percebt of total businesses in the country, hiring 63 percent of the local workforce, and contributing around 40 percent to the national GDP, Commissioner Karlo S. Bello emphasized the significance of their growth and development.
During the event, crowdfunding was presented as an accessible and convenient means for MSMEs to secure funds for expansion.
Crowdfunding is a fundraising activity usually conducted by startups and SMEs, where the public can support or fund a business idea through an online platform.
SEC-registered crowdfunding intermediaries 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.
The roadshow also featured talks on the benefits of listing on the stock market for business expansion and the experiences of business magnate Joe Soberano-led Cebu Landmasters, a homegrown property developer that raised P15 billion from an initial public offering in 2018.