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SME in Focus
Boosting rural micro enterprises
The latest initiative by state planners to boost microenterprises is a welcome step towards poverty alleviation.
By opening the Microenterprise Access to Banking Services (MABS) program to all banks, the government expects small growers and rural-based entrepreneurs to gain more access to financial resources and improve their entrepreneurial capacities.
Despite abundance of development funds, lack of access remains the biggest obstacle to micro enterprise growth in the country. In other words, the demand and not the supply side is the problem as commercial banks continue to shy away from lending to SMEs based on the perception they are not bankable.
Countryside development through the promotion of micro and small-scale entrepreneurial activities will continue to face challenges. It is not an easy thing to pursue. But, and we hope our readers will agree, a small step is better than none at all.
Special Report
Special Report: Plantersbank awards free web hosting services to top five winners in BiD Challenge
Planters Development Bank (Plantersbank) recently awarded free web hosting services to the top five winners of the recently concluded 2009 Business in Development (BiD) Challenge Philippines held on February 26 at the Asian Institute of Management Conference Center in Makati City.
The top five winners were Jacinto & Lirio Fashion Bags, Ecoglow Mobile Shredding Machine, Global Organic and Wellness Corp., Binalot and Gift and Graces. Other winners are EPP Technologies Inc, Ecobloks, Fish Farming using Low Volume High-Density fish cage system, E-farmers, Hybrid and Inbred Seeds Production, Education Revolution: Alternative Tertiary Program, Kawayan Tech Bamboo Bikes, Manufacture of Citronella Insect Repellent Products, Hapinoy Kahanapbuhay, The Tea Bar and Garado Green Energy.
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Featured SME
Gensan VSM Realty Corporation: Gensan's champ in socialized housing
General Santos City (Gensan), also popularly known as the tuna capital of the Philippines and home of world’s two boxing champions Manny Pacquiao and Nonito Donaire Jr, is also the home to vibrant and progressive companies such as Gensan VSM Realty Corporation.
Gensan VSM Realty Corporation, founded by the husband and wife tandem of Victorio and Elizabeth Sexcion is one of the superstars of Gensan’s real estate industry. It was formed in 1996 as a single proprietorship until 2008. Also, in 2008 VSM Gensan was incorporated.
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Tax Calendar
2010 March
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10 Wednesday
Withholding Tax
Remittance of February 2010 taxes withheld (on compensation income,
income payments subject expanded withholding tax and income payments subject to final withholding tax) by non-EFPS filers (BIR Form Nos. 1601C, 1601E and 1601F)
MAP
Filing of February 2010 monthly alphalist of payees for monthly remittance
return (BIR Form Nos. 1601E and 1601F) by non-EFPS filers
Tax On Interests
Remittance of final tax withheld on interests paid on deposits and yield on
deposit substitutes/trusts/etc. for February 2010 transactions by non-EFPS filers (BIR Form No. 1602)
Withholding VAT & Other Percentage Taxes
Remittance of tax due on February 2010 transactions by all types of
taxpayers, EFPS and non-EFPS filers (BIR Form No. 1600)
MAP
Filing of February 2010 monthly alphalist of payees for monthly remittance
return (BIR Form No. 1600) by all types of taxpayers, EFPS and non-EFPS filers
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10 Wednesday
SSS
Remittance of February 2010 contributions (Form R-5)
PhilHealth
Remittance of February 2010 contributions (Form ME-5)
Pag-Ibig Fund
Remittance of February 2010 contributions by employers with names that
begin with letters A–D (Form M1-1)
11 Friday
Withholding Tax
E-filing of February 2010 taxes withheld (on compensation income,
income payments subject to expanded withholding tax and income payments subject to final withholding tax by EFPS filers belonging to Group E* (BIR Form Nos. 1601C, 1601E and 1601F)
MAP
E-filing of February 2010 monthly alphalist of payees for monthly remittance
returns (BIR Form Nos. 1601E and 1601F) by EFPS filers belonging to Group E*
Tax On Interests
E-filing of final tax withheld on interest paid on deposits and yield on
deposit substitute/trust/etc. for February 2010 transactions by EFPS filers belonging to Group E* (BIR Form No. 1602
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SME Events
2010 March
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SME Power Quote
“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.” – Warren Buffett
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