The Securities and Exchange Commission (SEC) is encouraging micro, small, and medium enterprises (MSMEs) and start-ups in Zamboanga to access the capital market.
The SEC capped the fourth leg of its Roadshow on Capital Market Formation for MSMEs and Start-ups in Palacio del Sur, Zamboanga City.
Zamboanga City Rep. Khymer Adan Olaso has welcomed the initiative of pitching the capital market as an alternative funding option for MSMEs and start-ups.
'This underscores the fact that there is a viable alternative to banks and traditional fund-raising methods which is aligned to President Marcos Jr.'s agenda in providing financing options to the MSMEs especially as businesses are starting to recover from the effects of the COVID-19 pandemic,' Olaso said.
The event attracted more than a hundred onsite participants and 83 virtual participants, consisting of executives from companies, business groups, and government agencies such as the Zamboanga Chamber of Commerce, Pagadian Zamboanga del Sur Chamber of Commerce, Sindangan Chamber of Commerce, and Rotary Clubs of Zamboanga City and Zamboanga West, among others.
The initiative is in line with President Marcos' thrust to provide different financing options for small businesses.
Zamboanga City Vice Mayor Josephine Pareja said the roadshow is in line with a new ordinance that aims to support local products towards the growth of MSMEs.
During the event, the SEC also presented crowdfunding as an accessible and convenient means for businesses to secure funds for expansion.
Crowdfunding is a fundraising activity typically conducted by start-ups and SMEs, where the public can support or fund a business idea through an online platform.
As of end-2022, over 200 businesses have successfully raised capital through the platforms of Investree and Seedin Technology.
SeedIn Technology's platform alone has seen a total of P1.34 billion raised funds for 259 projects during the same period, according to the SEC.
The roadshow in Zamboanga was led by the SEC Office for the Advancement of Strategic Investments in SMEs, which was established with the aim of encouraging SMEs to consider the capital market as a financing option.
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