Thrift bank Philippine Business Bank, the first local company to go public this year, plans to expand its branch network to 100 by yearend to boost its capability to reach out to its target market: small and medium enterprises (SMEs).
Small and medium enterprises form the backbone of the economy, representing 99% of businesses and employing close to 70% of the Philippines’ workforce. While all SMEs exemplify the Filipino’s unwavering drive to build a stronger nation, certain companies manage to take a step further and pave the path for progress.
The Bangko Sentral ng Pilipinas has announced the creation of a new credit surety fund (CSF) to boost micro small and medium enterprises (MSMEs) in the country.
The Social Security System has set aside P7 billion for lending to private businesses and social institutions, which is meant to help boost employment and boost economic growth.
Small and medium enterprises from the Cordillera region registered P66.57 million in cash and booked sales in a recent trade fair, with some manufacturers running out of goods to sell before even displaying their products.
