SEC introduces a crowdfunding platform for small and medium-sized businesses

The Securities and Exchange Commission (SEC) has rolled out a new platform aimed at providing small businesses and startups with information about their financing options in the capital market. This initiative comes as the SEC has concluded its nationwide roadshow pitching the capital market as a viable funding source for small businesses and startups for the year.

The new platform, known as Call-a-Friend and Engage with SEC (CAFE SEC), will allow participants of the roadshow to reconnect with crowdfunding intermediaries and the Philippine Stock Exchange (PSE) for inquiries regarding their financing needs, as well as additional information on capital market-based products and services. The SEC has also announced that CAFE SEC will hold consultation meetings weekly starting December 13, with subsequent meetings taking place every Wednesday.

The 11th and final leg of the 2023 Roadshow on Capital Formation for Micro, Small, and Medium Enterprises (MSMEs) and Start-Ups was held in Tacloban City on December 7. At the event, SEC Commissioner Karlo S. Bello emphasized the need to broaden the financing instruments available for MSMEs in order to promote financial inclusion. He also highlighted the different ways in which these businesses can acquire financing through the capital market to jumpstart or expand their operations.

The roadshow featured discussions on crowdfunding and its accessibility as a capital-raising option for MSMEs and startups, as well as the benefits of listing on the stock market for business expansion and growth. Representatives from licensed crowdfunding intermediaries in the Philippines, as well as officials from the PSE and Investment and Capital Corporation of the Philippines (ICCP), were present to provide information and guidance to the entrepreneurs in attendance.

The event attracted around 70 entrepreneurs from Eastern Visayas, who had the opportunity to engage in one-on-one consultations with the speakers during break-out sessions. The SEC’s initiatives are part of ongoing efforts to support the growth and development of small businesses and startups in the country.

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