The Securities and Exchange Commission (SEC) has launched a new platform for small businesses and startups to explore and learn more about their financing options in the capital market.
At the same time, the SEC has capped its nationwide roadshow pitching the capital market as an accessible funding source for small businesses and startups for the year.
The SEC said it has launched Call-a-Friend and Engage with SEC (CAFE SEC) which will serve as a channel for participants of the roadshow to reconnect with crowdfunding intermediaries and the Philippine Stock Exchange (PSE) for inquiries pertaining to their financing needs, as well as additional information on capital market-based products and services.
Crowdfunding is a fundraising activity typically conducted by startups and SMEs, where the public can support or fund a business idea through an online platform.
CAFE SEC will hold consultation meetings weekly starting Dec. 13. The succeeding meetings will be conducted every Wednesday.
Meanwhile, the SEC held on Dec. 7 the 11th and final leg of the 2023 Roadshow on Capital Formation for Micro, Small, and Medium Enterprises (MSMEs) and Start-Ups in Tacloban City.
“In our continuous bid for financial inclusion, we recognize that there really is a need to broaden the financing instruments available for MSMEs,” SEC Commissioner Karlo S. Bello said in his welcome message.
“Together with our industry partners, we wish to present the different ways you can acquire financing through the capital market in order to jumpstart your business or expand your operations,” he added.
The Commission pitched crowdfunding, among others, as an accessible and viable capital-raising option for MSMES and startups for their business expansion.
Representatives from the three licensed crowdfunding intermediaries in the Philippines, namely SeedIn Technology, Inc., Investree Philippines, and Eastern Securities Development Corporation (Round One), discussed the advantages of crowdfunding and how MSMEs and startups can tap their services and platforms.
Officials from the PSE and Investment and Capital Corporation of the Philippines (ICCP) also discussed the benefits of listing on the stock market for business expansion and growth.
This was followed by a testimonial of Wilcon Depot, Inc. on its journey toward conducting its initial public offering in 2017, and how going public helped the company achieve key business milestones such as store expansion and operational innovation.
The Tacloban roadshow attracted around 70 entrepreneurs based in Eastern Visayas who were given an opportunity to engage in one-on-one consultations with the speakers during break-out sessions.