A Review of the Provisions of R.A. 9178 (BMBE Law) to the Challenges Faced by the Philippines BMBEs

Abstract

This paper is a review of the incentives and benefits provided by R.A. 9178 (BMBE Law) that is made available by the Philippine government to registered BMBEs.  The researcher made an extensive review of related literature and studies to the challenges faced by various Micro, Small and Medium Enterprises (MSMEs).  Acknowledging the great contribution of MSMEs in the country’s economy, addressing the problems of MSMEs will hasten economic growth and help alleviate poverty in the country by providing employment to the local community. Major problems of MSMEs are linked to their financial capability.  If funds are available, MSMEs will have an increase in their profitability through new project investment, product diversification, technological advancement, and better resource management.  These problems will be the same problems, may be in a lesser scale, barangay microbusinesses will encounter. The study seeks to find out if the incentives and benefits listed in R.A. 9178 provide solutions to these problems.  The paper concludes that strict implementation of the BMBE Law and a review of its provision should be done.  This calls for an extensive effort on information dissemination as to the existence of this law together with additional projects of various government agencies to be made available for the registered BMBEs.