2
"i) assuring a balanced and sustainable development
through the establishment of a feedback and evaluation
mechanism that will monitor the economic contributions
as well as bottlenecks and environmental effects of the
development of MSMEs."
(RA 9501 through Sec. 2 amended Sec. 2 of RA 6977, as amended by RA 8289)
SEC. 3. Micro, Small and Medium Enterprises (MSMEs) as
Beneficiaries. -- MSMEs shall be defined as any business activity or
enterprise engaged in industry, agribusiness and/or services, whether single
proprietorship, cooperative, partnership or corporation whose total assets,
inclusive of those arising from loans but exclusive of the land on which the
particular business entity's office, plant and equipment are situated, must
have value falling under the following categories:
micro
:
not more than P3,000,000
small
:
P3,000,001 - P 15,000,000
medium :
P15,000,001 - P100,000,000
"The above definitions shall be subject to review and adjustment by
the Micro, Small and Medium Enterprises Development (MSMED) Council
under Section 6 of this Act or upon recommendation of sectoral organizations
concerned, taking into account inflation and other economic indicators. The
Council may use other variables such as number of employees, equity capital
and assets size.
"The Council shall ensure that notwithstanding the plans and programs
set for MSMEs as a whole, there shall be set and implemented other plans
and programs varied and distinct from each other, according to the specific
needs of each sector, encouraging MSMEs to graduate from one category to
the next or even higher category."
(RA 9501 through Sec. 3 amended Sec. 3 of RA 6977, as amended by RA 8289)
SEC. 4. Eligibility for Government Assistance. -- To qualify for
assistance, counseling, incentives and promotion under this Act, businesses
falling under the above definition must be: "
a) duly registered with the appropriate agencies as presently
provided by law: Provided, That in the case of micro enterprises
as defined herein, registration, with the office of the municipal
or city treasurer shall be deemed sufficient compliance with
this requirement;