SEC brings capital market roadshow for MSMEs to CDO

CAGAYAN DE ORO CITY The Securities and Exchange Commission (SEC) continues to pitch the capital market as an alternative funding option for micro, small and medium enterprises (MSMEs) and start-ups.

This, as SEC brings its roadshow on capital formation to Cagayan de OroCity, Friday, April 14.

The roadshow attracted 98 onsite and 37 virtual participants consisting of executives from local companies, government agencies, and business groups.

SEC Commissioner Kelvin Lester Lee said it aims to promote and raise awareness on various ways for MSMEs to access the capital market for their financing needs.

“Our capital formation project is important, it will show that there is a viable alternative to banks and traditional fundraising methods. If there is one thing that I want everyone tolearn from this isthatyung nga there are alternatives, hindi lang bangko ang kausapin niyo, mayroon tayong ibang options to raise capital for you to do business," hesaid.

The roadshow is also aligned with the national government's thrust of accelerating financial inclusion.

President Ferdinand Marcos Jr. in his State of the Nation Address emphasized the importance of providing financing options for MSMEs, especially as businesses start to recover from the effects ofCovid-19.

According to Commissioner Lee, the MSME network accounts for 99.5%of the total businesses in the country, hires 63% of the local workforce, and contributes around 40% to the national GDP.

However, 67% of our MSMEs continue to experience credit constraints, in short, they have difficulty finding financing. Most of them rely on internal sources for their capital needs. Or those that apply for traditional bank loans face relatively tedious documentation, high-interest rates, and mandatory collateral requirements. Furthermore, the recent economic slowdown due to Covidhas exacerbated the MSMEs' poor financial position," he noted.

As such, the commission’s efforts are geared towards broadening the financing options available to MSMEs to jumpstart their businesses or expand their operations.

Meanwhile, executives from Investree Philippines, SeedIn Technology, Inc., and Round One, which are SEC-registered crowdfunding intermediaries discussed the opportunities of crowdfunding and how MSMEs and start-ups can tap their services.

Representatives from the Philippine Stock Exchange, on the other hand, gave a briefing on how to go on public offering by listing at the stock exchange while the Investment & Capital Corporation of the Philippines discussed underwriting services for MSMEs.

Participants also took the opportunity to engage in personal consultation with the crowdfunding intermediaries.

The iftar started with the traditional breaking of the fast, where attendees were offered dates and water to sized the importance of Ramadan as a time for spiritual

After the prayer, attendees enjoyed a sumptuous meal of traditional Filipino and Middle Eastern dishes, including randang, biryani, kebabs, and various salads. The atmosphere was lively, with attendees engaging in

In his remarks, Secretary Guiling Mamondiong thanked the guests for their attendance and emphasized the importance of promoting peace and understanding between different communities in the Philippines. He also expressed gratitude to the government for its support of the Muslim community and for recognizing the contributions of Muslim Filipinos to thecountry.

Overall, the iftar hosted by the National Commission on Muslim Filipinos was a successful event that brought together people from different backgrounds to share in the spirit of Ramadan and promote understanding and solidarity between different communities in the Philippines.