ROADSHOW. Securities and Exchange Commission (SEC) Commissioner Kelvin Lester Lee, on Friday, says there are available funding options for micro, small, and medium enterprises (MSMEs) who want to expand their businesses. In an SEC forum in Iloilo City, he said addressing the needs of MSMEs is among the priorities of the Marcos administration. (PNA photo by PGLena)
Cesafinews | MSMEs are encouraged to use the capital market to grow their businesses | ILOILO CITY – The Securities and Exchange Commission (SEC) urged micro, small, and medium-sized firms (MSMEs) on Friday to think about using the capital market to grow their companies.
Commissioner Kelvin Lester Lee stated that they are promoting and generating awareness that MSMEs can access the capital market for their financing needs at the SEC roadshow on capital creation for MSMEs and start-ups in Iloilo City.
“One of the primary focuses of the Marcos administration is to meet the requirements of our MSMEs. We acknowledge the need to expand the financial instruments that are available to MSMEs in the SEC’s effort to promote financial inclusion, he added in his message.
According to him, 63 percent of all businesses in the nation are MSMEs, accounting for 99.5 percent of all firms and 40 percent of the GDP.
But according to him, 67 percent of these MSMEs still face funding and credit limitations, and the majority of them rely on internal sources for their capital requirements.
He noted that other people who seek for conventional bank loans are experiencing issues with their paperwork, collateral, and excessive interest rates.
In a news conference, he remarked, “At least this way, we can convey to the general public that if you engage in business, there are many options to raise capital to expand your business.”
The roadshow brought together specialists in the fields of crowdsourcing and businesses that had launched IPOs to provide their knowledge and experience to the attendees.
In the meanwhile, Mayor Jerry Treas hoped the programme would help the city realise its goal of being a business centre as people learned how to grow their companies by accessing the capital market.
This roadshow will act as a forum for information sharing, networking, and teamwork, he declared.
Vicente Graciano Felizmenio Jr., Director of the SEC, Roel Refran, Chief Operating Officer of the Philippine Stock Exchange, and Ma. Cristina Montelibano, Director of the SEC Iloilo OIC, attended the ceremony as well. (via PNA)
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