Trade, Commerce and Entrepreneurship

Dagdag na Trabaho sa Go Negosyo Law – Sen. Bam

 

The development of micro, small and medium enterprises (MSMEs) in the country has been given a major boost with President Aquino’s signing of the Go Negosyo Act into law.

 “The approval of the Go Negosyo Act into a law is a fulfillment of our commitment to push for MSME development in the country,” said Senator Bam Aquino, the law’s author and chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

 As the first inclusive growth-related and pro-poor legislation to be passed into law by the present administration, Aquino believes the Go Negosyo Act will further the growth of the MSME industry, which comprises 99 percent of all enterprises and 66 percent of jobs in the country.

 “With MSMEs getting all the help they need through the Go Negosyo Act, it will now be easier for them to start a business or expand existing industries,” said Aquino.

 On Sunday, Malacanang announced the signing of the R.A. 10644 or An Act Promoting Job Generation and Inclusive Growth Through the Development of Micro, Small, and Medium Enterprises.

 Presidential Communications Operations Office secretary Herminio Coloma Jr. said the new law would help create new jobs and livelihood for more Filipinos.

 The Act mandates the creation of Negosyo Centers, under the Department of Trade and Industry (DTI), in each city and municipality around the country. These Negosyo centers are meant to make it easier for entrepreneurs to register and start up their businesses, as well as gain access to sources of financing.

 In addition, the Negosyo Centers will provide courses and development programs, training, give advice on business conceptualization and feasibility, financing, management, capability building, human resources, marketing and other support services.

Sen. Bam, Gov’t Agencies, Private Groups Set Up MSMEs Hotline vs. Graft and Corruption

 

The days of corrupt government officials and employees are now numbered through hotline numbers 16565 and 0908-8816565.

The Office of Senator Bam Aquino (OSBA) and concerned government agencies and private groups have joined forces to form WASAK or the “Walang Asenso sa Kotong” campaign where small businessmen can air their complaints and other issues against government agencies.

“Our office’s main advocacy is to fight poverty and unemployment through entrepreneurship. However, our small businesses have become milking cows for crooked government employees and private individuals,” said Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship.

The launching of the hotline was held at the Civil Service Commission (CSC) in Quezon City.  It was attended bySen. Aquino, CSC Chair Francis Duque and COO Donald Dee of the Philippine Chamber of Commerce and Industry.

Other partners of the campaign include the Department of Trade and Industry (DTI), Department of Justice (DOJ), Department of the Interior and Local Government (DILG), Bantay.ph and the National Competiveness Council (NCC).

“This hotline gives the micro and small entrepreneurs an avenue to air their complaints and other issues against illegal practices such as graft and corruption, red tape and extortion that are detrimental to their growth,” the senator added.

Aquino said graft and corruption in government must stop because it drives away potential entrepreneurs and other investors and prevents existing businesses from expanding.

The CCB is a platform for citizens to forward their complaints on red tape, kotong and tongpats, and under-the-table incidents through text messages, email and phone calls.

“The hotline also provides an avenue where complaints and issues are resolved in an effective and timely manner. Now, entrepreneurs have a dependable ally in Wasak,” stressed Aquino.

Wasak also seeks to provide developmental advice for micro and small entrepreneurs regarding product development, marketing, business growth and financial management.

 

E-Commerce Law to Improve Ease of Doing Business, Internet Connection – Sen. Bam

 

If properly developed, Senator Bam Aquino believes that Republic Act 8792, better known as the E-Commerce Law, would improve ease of doing business and provide cheaper and faster Internet connection.

 Passed in 2000, the senator said the law mandates several government agencies, led by the Department of Transportation and Communications (DOTC), to promote and implement a framework that will result to cheap and fast broadband and wireless accessibility, which will allow trade online.

“If implemented to the letter, the E-Commerce Law will be a big help in our mission to give the public cheaper and faster Internet connection to allow them to explore livelihood online,” explained Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship.

Aquino recently spearheaded the inquiry into the slow and expensive Internet connection in the country.

The senator stressed that the law will help address the country’s problem in terms of ease of doing business as it mandates the establishment of an electronic online network that connects all government agencies down to the regional level.

“With all government agencies connected by a single network, processing of documents will be easier, faster and cheaper because you don’t have to jump from one office to another,” Aquino explained.

E-Commerce could also boost job generation with the high demand in online-related jobs such as business process outsourcing (BPO), gaming and animation, and online marketing.

“Also, we are now starting to see the arrival of jobs that can be done without leaving home, such as online writing, design and document analysis,” Aquino explained.

Aside from this, E-Commerce will also empower online entrepreneurs who promote and sell their products on the Internet.

“E-Commerce could provide more opportunities for livelihood and earning, locally and globally. With Filipinos being online savvy, the world is our market and our opportunities are limitless,” he added.

In line with this, Aquino filed a resolution seeking to conduct an inquiry in aid of legislation on the development of the country’s national industrial roadmap for E-Commerce since it was passed 14 years ago.

“We want to know where we are in terms of ICT and if the law has been effective in carrying out plans, program and reforms to boost E-Commerce in the country,” said Aquino.

In the latest World Economic Forum Global Information and Technology report, the Philippines showed a marked improvement with a rank of 78 out of 148 countries from its previous ranking of 86.

“In order to sustain this development, there is a need to assess the roadmap for the E-Commerce sector through the aid of appropriate government agencies to promote innovation and further improve the industry’s growth,” Aquino added.

 

Decongest Manila Port – Sen. Bam

 

The Port of Manila has been experiencing congestion and logistical problems, which has resulted in higher prices of goods in different parts of the country, according to Senator Bam Aquino.

“The Manila Port has had logistical nightmares recently and thus, delay in the delivery of goods and services to the provinces,” said Aquino, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

Aquino said he received reports of shortage in medical equipment such as dental needles and anaesthetics in Mindanao due to the slow movement of shipments from Manila.

“The prices of dental needles went up from P600 to almost P2,000. Even if you have the money, still you cannot find one in drugstores and other medical companies because of delay in arrival of supplies from Manila,” Aquino stressed.

Logistical problem has also affected the manufacturing sector due to the late arrival of needed raw materials, hampering their production and delivery schedule.

The delay in the delivery of shipment of rice, garlic and onions also contributed to the high prices of such goods in the market.

“Businesses are affected by delays in the delivery of their shipment, forcing them to increase prices to recoup losses. The increase will then be shouldered by the helpless consumers,” the senator said.

The senator called on the administration of the Manila Port, local government of Manila, Department of Trade and Industry (DTI) and other stakeholders to find a “win-win” solution that will address supply problem, reduce prices of commodities and solve the perennial traffic problem, all at the same time.

“I believe that all of our major problems are addressed when stakeholders gather together to solve it,” said Aquino.

Aquino said stakeholders should consider using other ports, such as the Port of Batangas, Subic and Davao, as alternative unloading points for cargo and shipments to decongest the Port of Manila.

“If the cargo is headed to Pangasinan or La Union, it would be wise to have it unloaded in Subic. This way, time and money will be saved,” Aquino said.

“If these cargoes are diverted to other ports, the number of trucks roaming around Manila will be reduced, resulting to better traffic conditions. It will be a win-win solution for everybody,” Aquino said.

 

 

Easier Credit Access to Fuel Growth of MSMEs – Sen. Bam

Despite the key role they play in strengthening the economy, lack of access to financing remains as the biggest roadblock for the growth of Micro, Small and Medium Enterprises (MSMEs) in the country.

“The existing requirements for credit do not consider the nature and stature of these micro and small businesses,” said Senator Bam Aquino, chairman of the Committee on Trade Commerce and Entrepreneurship.

The senator pointed out that current prerequisites for financing are marginalizing the MSME sector, which accounts for 99.6% of all enterprise in the country and employs about 62% of the workforce in the country.

To address this, Aquino has filed Senate Bill No. 2218 expanding and strengthening the current Credit Surety Fund (CSF) program of the Bangko Sentral ng Pilipinas (BSP) to enable it to extend financial help to more micro and small enterprises all over the country.

“The CSF is seen as an effective program to address the financing gap that is affecting many entrepreneurs in the country,” Aquino said, referring to the BSP’s credit enhancement scheme that allows MSMEs, which are members of cooperatives to borrow from banks without collateral.

He emphasized that CSF must be supported by passing laws that will augment and enable it to help more small businesses who lack access to capital and other assistance.

“With our bill, we will institutionalize CSF and give it more funding to enable it to provide help to more MSMEs,” Aquino added.

The BSP recently launched three CSF programs in Cagayan de Oro, Aklan, and Tarlac, bringing the total number of credit surety funds established nationwide to 29 from 26 in the previous year.

In addition, the bill is aimed at aimed at building the capability of MSMEs, cooperatives and non-government organizations in the areas of credit evaluation, loan and risk management, and good governance.

Also, the bill seeks to enhance the MSMEs’ credit worthiness and broaden access to credit facilities, and sustain the continuous flow of credit in the countryside.

“This will generate more employment and alleviate poverty through increased investments and economic activities,” added Aquino, stressing that the challenge is to grow the micro businesses into small enterprises and the small enterprises to medium enterprises.

“If it this is done, growth would not only be for the few rich, rather, it would be for everyone, even to the poorest Filipino,” Aquino said.

 

 

Bicam Approves Go Negosyo Act, Awaits PNoy’s OK


Go, go, go!

The Go Negosyo Act is now closer to becoming a law after it hurdled the bicameral conference committee.

Senator Bam Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship, and his House counterpart, Las Pinas Rep. Mark Villar, have adopted the Senate version of the Go Negosyo Act authored by Aquino.

On the last day of session, the Senate has ratified the bicameral conference committee report on the Go Negosyo Act. It will be transmitted to Malacanang for President Aquino’s approval.

 “No amount of words will get the people’s trust back in the Senate,” Aquino said.

“If our countrymen would see that we have been working for them despite the scandals, maybe at some point, we would be able to gain their trust again.”

 “With the imminent passage of the Go Negosyo Act into law, small businessmen – micro, small and medium enterprises (MSMEs) are given a much needed boost that will lead to job creation in different parts of the country,” Aquino said.

 Aquino stressed the importance of the Go Negosyo Act, saying 66 percent of jobs in the labor force are generated by the MSME sector, which in turn comprises 99 percent of all enterprises in the Philippines.

“The Go Negosyo Act gives Filipinos – from a simple housewife to ordinary employee – a chance to establish their own business that will help sustain their everyday needs and for their families,” the senator said.

The Act mandates the creation of Pinoy Negosyo Centers, under the Department of Trade and Industry (DTI), in each city and municipality around the country. These Pinoy Negosyo centers are meant to make it easier for entrepreneurs to register and start up their businesses, as well as gain access to sources of financing.

In addition, the Pinoy Negosyo Centers will provide courses and development programs, training, give advice on business conceptualization and feasibility, financing, management, capability building, human resources, marketing and other support services.

Bicam Approves Go Negosyo Act, Lemon Law

Go, go, go!

The Go Negosyo Act is now closer to becoming a law after it hurdled the bicameral conference committee.

Senator Bam Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship, and his House counterpart, Las Pinas Rep. Mark Villar, have adopted the Senate version of the Go Negosyo Act authored by Aquino.

On the last day of session, the Senate has ratified the bicameral conference committee report on the Go NegosyoAct. It will be transmitted to Malacanang for President Aquino’s approval.

“No amount of words will get the people’s trust back in the Senate,” Aquino said.

“If our countrymen would see that we have been working for them despite the scandals, maybe at some point, we would be able to gain their trust again.”

“With the imminent passage of the Go Negosyo Act into law, small businessmen – micro, small and medium enterprises (MSMEs) are given a much needed boost that will lead to job creation in different parts of the country,” Aquino said.

Aquino stressed the importance of the Go Negosyo Act, saying 66 percent of jobs in the labor force are generated by the MSME sector, which in turn comprises 99 percent of all enterprises in the Philippines.

“The Go Negosyo Act gives Filipinos – from a simple housewife to ordinary employee – a chance to establish their own business that will help sustain their everyday needs and for their families,” the senator said.

The Act mandates the creation of Pinoy Negosyo Centers, under the Department of Trade and Industry (DTI), in each city and municipality around the country. These Pinoy Negosyo centers are meant to make it easier for entrepreneurs to register and start up their businesses, as well as gain access to sources of financing.

In addition, the Pinoy Negosyo Centers will provide courses and development programs, training, give advice on business conceptualization and feasibility, financing, management, capability building, human resources, marketing and other support services.

Meanwhile, the Philippine Lemon Law will provide protection against poorly manufactured cars and other motor vehicles.

The bicameral conference committee has adopted the House version of the Lemon Law, authored by Villar.

“The passage of this Act is timely since vehicles are crucial in present time where mobility is needed to thrive daily, especially for businessmen and entrepreneurs,” said Aquino.

Aside from consumer protection, Aquino expects that the Lemon Law will provide consistent standards of quality and performance in the auto industry.

When a motor vehicle has had a defect that cannot be repaired up to four times, the buyer can have the lemon car, or substandard vehicle, be replaced, or have their money back.  The Act is applicable to motor vehicles purchased only in the Philippines and within a year or 20,000 km, whichever comes first.

 

 

Sen. Bam Supports Coco Levy Trust Fund Act Filed by Farmers

Senator Bam Aquino expressed support behind a measure filed by several farmer organizations through a petition for Indirect Initiative that seeks to create a trust fund from the P73-billion coco levy fund for the development of the coconut industry.

Aquino personally joined members of the Koalisyon para sa Ugnayang Magniniyog or KILUS-Magniniyog as they filed Coconut Farmers Trust Fund Act with Senate Secretary Oscar Yabes.

Section 3 (b) and Section 11 of Republic Act 6735 or the “The Initiative and Referendum Act” allows people to submit legislative measures to Congress for action through indirect initiative.

Aquino stressed that the coco levy fund should not be left idle and instead should be fully utilized for the development of coconut farmers, who are among the poorest of the poor in the country.

“We’re hoping that the fund will be used for the development of the coconut industry and the farmers,” said Aquino, chairman of the Committee on Trade, Commerce and Entrepreneurship.

According to the Department of Agriculture’s Bureau of Agricultural Statistics (BAS), the average net income of an agricultural household in the Philippines is at least Php61,000 per year or just a little over Php5,000 per month.

However, Aquino said coconut farmers are earning just between P16,842 to P23,000 per year.

The Supreme Court earlier declared the coco levy fund belongs to the government and should be used for the welfare of coconut farmers.

The measure filed by coconut farmers aims to use the recovered coco levy funds to develop the country’s coconut industry and benefit small coconut farmers.

Through the trust fund, marginalized coconut farmers will be assisted in developing coconut-based enterprises that can compete in the global market.

Sen. Bam hits BIR’s ‘Anti-Poor’ Circular, Files a Bill to Exempt Small Businessmen from Taxes

Senator Bam Aquino has filed a bill seeking to exempt Marginal Income Earners (MIEs), including farmers, fishermen, tricycle drivers, small sari-sari storeowners and other micro-entrepreneurs, from payment of income tax.

In Senate Bill 2227, Aquino said MIEs, or self-employed individuals who earn not more than P150,000 annually, should be spared from paying income tax, just like minimum wage earners.

“Granting income tax exemption to minimum wage earners while subjecting our small businessmen to income tax is contrary to the mandate of the Constitution, there being no substantial distinction between them in terms of earning capacity,” Aquino said in his measure.

Aquino made the move after the Bureau of Internal Revenue released a memorandum circular — Revenue Memorandum Circular (RMC) No. 7-2014 — compelling micro entrepreneurs to pay income tax returns.

The circular said MIEs include agricultural growers/producers such as farmers and fishermen selling directly to consumers, small sari-sari stores, small carinderias or “turo-turos,” and drivers/operators of a single unit tricycle.

“Charging taxes does not help them in any way. Rather, it becomes a burden to a sector that is situated below the poverty line,” Aquino said.

“Imposing income tax on our small businessmen is tantamount to confiscating what little income they are able to make on a daily basis,” he added.

The bill classifies MIEs as self-employed individuals – working neither for the private sector nor the government — deriving gross sales/receipts not exceeding P150,000 during any 12-month period, which will be used principally for subsistence or livelihood.

If enacted into law, the bill allows the BIR to adjust the income cap on the gross sales of the small businessmen to match any increase that minimum wage income earners may receive.

Aside from income tax, MIEs shall be exempt from 12 percent value-added tax and any percentage tax imposed under the National Internal Revenue Code of 1997 because they are not engaged in trade for which these taxes are imposed.

“Such a measure provides an enabling environment for our Filipino people to thrive and be given a chance to succeed.  It further continues our campaign in achieving true inclusive growth for everyone, even for the poor and marginalized,” Aquino said.

 

Photo source: biogprawny

Sen. Bam: 25 percent of Steel Products in Market Substandard, Smuggled

Around twenty five percent of imported and locally manufactured steel products sold in the country are either mislabeled or substandard.

This was revealed by industry stakeholders during the hearing of the Senate Committee on Trade, Commerce and Entrepreneurship chaired by Senator Bam Aquino.

“One study came out and this was relayed to me by the Philippine Steelmakers Association (PSA) that up to 25 percent of all steel in the market is actually mislabeled or substandard,” Aquino said during the hearing.

Aquino called this scenario unacceptable, saying this comprises a form of corruption and fraud as the public pays good money for right quality but end up buying substandard materials.

“Initially, these substandard materials probably won’t make a difference but when disasters strike then it becomes really important,” the senator added.

Also, the Philippine Iron and Steel Institute (PISI) disclosed that about 450,000 metric tons out of two million metric tons of imported steel were substandard or smuggled.

The PISI said these substandard steel products made its way to the country through misdeclaration or direct smuggling.

“How can anyone miss 18,000 container vans with 450,000 metric tons of imported steel,” Aquino asked during the hearing.

Among the substandard imported steel products were 300,000 metric tons of wire rods that were converted to reinforcing bars or rebars and used for the construction of 60,000 homes in different parts of the country, putting 300,000 lives in danger.

With this, Aquino has called for a systemic reform within the Bureau of Customs through the passage of a Customs Modernization law to make it more efficient against smuggling.

“If we have a more computerized system, malinaw na malinaw kung anong binabayad na taripa, that could stop smuggling in the long run,” Aquino stressed.

“You have countries like Singapore, what takes them half a day takes us weeks to do. Di talaga acceptable na sa modernong panahon, napaka-Jurassic ng ating sistema sa Customs,” he added.

At the same time, Aquino lauded Customs Commissioner John Sevilla for coordinating with the DTI and the Bureau of Internal Revenue to strengthen the agency’s fight against smuggling.

“I’m happy to say that Customs Commissioner Sevilla is pushing for a major overhaul ng kanilang sistema. Hindi na sapat kasi na individual lang ang ginagalaw-galaw o nililipat-lipat,” Aquino said.

 

Photo source: gmanews.tv

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