DTI offers free registration for barangay-based ventures

CEBU, Philippines - Barangay-based enterprises can now register free of charge at the Department of Trade and Industry through its Negosyo Centers.

“We encourage micro enterprises to register their businesses and avail of the incentives under the BMBE (Barangay Micro-Business Enterprises) Law,” Trade Undersecretary Zenaida Maglaya announced in a statement.

Registered micro enterprises, Maglaya said, can avail of government incentives that include exemption from payment of income tax for income arising from business operations, exemption from minimum wage law coverage, special credit window of state financing firms that will service their needs and technology and marketing aid.

Under Republic Act 9178 or the BMBEs Act of 2002, a BMBE is referred to as any enterprises engaged in processing or manufacturing of products -- including agro-processing, trading, and services – whose total assets, excluding land, shall not be more than P3 million.

These assets shall include those arising from loans but not the land on which the plant and equipment are located.

DTI issued an order last April 22, providing guidelines on registering BMBEs at negosyo centers.

In Cebu, there are currently three negosyo centers located in Bogo City and in DTI's regional and provincial offices.

DTI is the sole agency which should issue a Certificate of Authority (CA) to registered BMBEs at its negosyo centers.

Previously, micro enterprises register at the Office of the Treasurer of the city or municipality where the business is located.

Micro businesses are deemed as a driving force in economic development. The law said BMBEs are “seedbeds of Filipino entrepreneurial talents and strengthening them would increase job generation, provide livelihood and augment Filipinos’ quality of life.”

Earlier, Virgilio Espeleta, vice president for business development of Cebu Chamber of Commerce and Industry, emphasized the need to capacitate barangay entrepreneurs as they will bring growth to the grassroots. — (FREEMAN)