Lending by banks to small businesses has skyrocketed since the central bank approved a measure to count these loans as an alternative form of compliance with the reserve levels required of financial institutions. According to Bangko Sentral ng Pilipinas Governor Benjamin Diokno, the banking system allocated an average of as alternative compliance with the reserve…
The country’s financial regulators have agreed to streamline their procedures governing mergers and acquisitions in the local banking industry in a bid to expedite the process of consolidation among financial institutions. Initiated by the Philippine Deposit Insurance Corporation, the multi-agency project, which is the first of its kind among financial regulators, aims to harmonize the…
A business, whether micro, small or medium enterprises (MSMEs), for it to be successful needs the hiring of the best people and creating the right team for the company. When a company hires people, an employer-employee relationship is created. This relationship is governed by the Labor Code of the Philippines, a law that provides the…
The Department of Trade and Industry (DTI) and other government agencies are thinking of ways to extend a helping hand to help the micro, small, and medium enterprises (MSMEs) bounce back from the economic impact brought about by the COVID-19 pandemic. One of the initiatives of DTI is the reopening of Small Business Corporation’s (SB…
Having a business is a dream come true for many Filipinos. When one becomes a business owner, they can make a decent income while at the same time be their own boss. It can be a most fulfilling career. Are you set to start your own business? If you are, you should be ready to…
Determination, perseverance and faith—in divine providence and in their own abilities to overcome obstacles—enabled 10 small entrepreneurs to preserve and grow their enterprises even during a protracted global health crisis. In virtual ceremonies, recipients of the 18th Citi Microentrepreneurship Awards (CMA) were honored for the resilience, courage and fortitude that enabled their enterprises to survive,…
Tax and nontax revenues collected by local governments in the first half of 2021 inched up by about 4 percent year-on-year to amid easing quarantine restrictions and improving prospects due to the gradual reopening of the economy. Collections by the local governments in the first half of last year was P162.8 billion. Based on data…
We asked three CEOs from different industries what they expect from their marketers during (and eventually after) the COVID-19 crisis. These three CEOs — Aleli Arcilla, President and General Manager of Reckitt Benckiser Philippines (better known as the maker of Lysol, and Strepsils); Johnlu Koa, Founder and CEO of French Baker; and Jet Parma, President…
Gyms and fitness centers in Metro Manila, Bulacan and Rizal can now accommodate up to nearly half of their operating capacities as the government further eased business restrictions despite COVID-19 cases still increasing. The Department of Trade and Industry (DTI) released Thursday an advisory raising gyms’ and fitness centers’ permitted capacity to 40 percent, or…
Ayala-led Bank of the Philippine Islands (BPI) has teamed up with the Department of Trade Industry (DTI) to offer collateral-free term loans to small and medium enterprises (SMEs) in need of lifeline during this prolonged COVID-19 pandemic. In a press statement, BPI business banking head Eric Luchangco said the collateral-free loan facility for SMEs signified…