1. What does the acronym MSMEs represent?
2. What share of the country's total business enterprises is represented by MSMEs?
3. What did R.A. 9501 require banks and lending institutions to do for MSMEs?
What does MSMEs stand for?
Micro, Small and Medium Enterprises.
What percentage of total business enterprises are MSMEs?
99% of total business enterprises.
What percentage of the labor force is employed by MSMEs?
61% of the country's labor force.
When was R.A. 9501 signed into law?
On May 23, 2008.
What does R.A. 9501 require banks to allocate to MSMEs?
At least 10% of their total loan portfolio.
What is the maximum asset value for a micro enterprise?
P3 million or less.
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