Barangay Micro Business Enterprise
A BMBE is defined as any business enterprise engaged in production, processing or manufacturing of products, including aggro-processing, trading and services, with total assets of not more than 3P million excluding.
In order to secure a BMBE Certification, the following must be submitted:
- Duly filled up and signed BMBE Application Form and
- DTI registration for sole proprietorship; SEC registration for corporations, Partners or Association; CDA registration for Cooperatives.
These documents must be filled with the Department of Trade & Industry (DTI), through the Negosyo Center.
The registration and issuance of a Certificate of Authority as a BMBE is free of charge.
The Certificate of Authority shall be effective for a period of two (2) years, Commencing from the date of issuance and renewable every 2 years thereafter subject to the applicant’s continued compliance with the eligibility requirements.
The benefits of a BMBE are as follows:
- Exemption from income tax arising from the operations of the enterprise.
- Exemption from the coverage of the Minimum Wage Law, provided, that a employees covered under this Act shall be entitled to the same benefits given to any regular employee such as social security and healthcare benefits.
- Access to financial assistance by designated financial institutions.
- Access to training and technology transfer assistance by the government.