ESSENTIAL STATEMENTS OF SMALL BUSINESS CORPORATION
Small Business Corporation delivers its message of commitment, service and integrity towards its mandate as defined under the Magna Carta for MSMEs by adopting the following statements that guide the entire organization:
By 2025, we will be the leader in building financing alternatives for Philippine MSMEs, putting them at the forefront of inclusive economic growth.
Our Mission is to relentlessly champion the neglected business segments of the country to get them to access the capital needed to grow successfully.
In the delivery of our mission, we commit not to contribute to the cycle of debt poverty and to ensure no pilferage in the use of NG investment. We also commit not to duplicate already existing interventions in the financing industry especially those mainstreamed among private industry players.
Social Outcome Objective
To cause prosperity among MSME segments traditionally considered unfinanceable, thereby increasing economic diversity and inclusion (we define unfinanceable segments as enterprises which despite their being an on- going business are not able to access finance at non-usurious rates).
7 Target MSME Segments
- Micro and small agri and aqua enterprises
- Micro retailers
- Small island economies
- MSMEs requiring rehabilitation arising from disaster
- Islamic MSMEs
- Indigenous people (IP) – owned enterprises
- First-time small businesses
Ferocity in the mission, Kindness towards each other.
Matapat sa Bayan (faithful and trustworthy service to the country)
Magaling at Maabilidad (competent and innovative)
Bayanihan (community in unity)
The new SBCorp logo stands for Bayanihan between the MSMEs, the Government and Small Business Corporation. It expresses a call for change, of transforming the MSME landscape from widespread numbers of unfinanceable business segments into a diverse community of small businesses that are able to access finance at non-usurious rates.
The color black represents Government and its authorities, power and strength in providing MSMEs with the level playing field they deserve. Green represents SBCorp and its mandate to fight for the neglected business segments of Philippine MSMEs by building effective financing alternatives. Orange represents the MSMEs – who are creative, hardworking and continuously aspiring to serve their family, their employees, their community and the country.
The Small Business Corporation (SBCorp) is a government corporation created on January 24, 1991 by virtue of Section 11 of Republic Act (RA) No. 6977, amended on May 6, 1997 by RA No. 8289, otherwise known as Magna Carta for Small and Medium Enterprises (SMEs). SBCorp is under the policy program and administrative supervision of the Micro, Small and Medium Enterprise (MSME) Development Council of the Department of Trade and Industry (DTI), the primary agency responsible for the promotion and development of SMEs in the country.
On May 23, 2008, the President of the Philippines signed into law RA No. 9501, entitled “An Act to Promote Entrepreneurship by Strengthening Development and Assistance Programs to Micro, Small and Medium Scale Enterprises Amending for the Purpose Republic Act No. 6977, as amended, otherwise known as the ‘Magna Carta for Small and Medium Enterprises’ and for other purposes”. The law, among others, increased the Corporation’s authorized capital stock from P5 billion to P10 billion. Section 13 thereof, amending Section 11 of RA No. 6977, states that:
”Creation of Small Business Guarantee and Finance Corporation –
There is hereby created a body corporate to be known as the Small
Business Guarantee and Finance Corporation, hereinafter referred to as the Small Business Corporation (SBCorp), which shall be charged with the primary responsibility of implementing comprehensive policies and programs to assist MSMEs in all areas, including but not limited to finance and information services, training and marketing.”