Manila: Micro, small, and medium enterprises benefited around half of PHP80.3 million in discounts from the reforms instituted by the Securities and Exchange Commission (SEC) since July 2025. SEC, in a press release Tuesday, said three memorandum circulars aimed to encourage the incorporation of MSMEs and further streamline the registration process for firms that want to tap the capital market were issued since July.

According to Philippines News Agency, citing preliminary data as of Oct. 19, SEC said it has accommodated about 40,157 transactions using the said circulars, and around PHP40.9 million were saved by MSMEs. One of these circulars is the Memorandum Circular No. 6, which took effect on July 1 and provides a 50 percent discount on the physical and authenticated copies of company filings, including the articles of incorporation and by-laws, general information sheet, and annual financial statements, among others. This provided more than PHP36.5 million worth of discounts.

Another is MC 8, which took effect on July 16. It provides discounted rates for certain filing fees such as registration fees to support the growth of MSMEs and has since allowed a total of 8,506 MSMEs, which registered as corporations, to accumulate PHP21.4 million in discounts. SEC said more than 200 MSMEs that applied for a hike in their authorized capital stock also saved more than PHP19.4 million because of MC 8.

MC 9, in turn, provides a 30 percent discount for the assessed registration fees of all registration statement applications until Dec. 31 this year. This MC allowed MSMEs to save around PHP3 million in fees. SEC Chairperson Francis Lim said the Commission ‘is taking an active role in the national government’s efforts to further unlock the massive potential of the MSME sector in driving the Philippine economy’s growth.’

He explained that ‘by lowering the barriers to entry for small businesses, we are sending a strong message that the corporate sector is an inclusive space where everyone-not just established industry players-can survive and thrive.’ ‘The SEC will continue to assess its rules and policies to see where we can provide further assistance to our stakeholders, consistent with our goal of empowering MSMEs and the overall corporate sector to become catalysts for economic growth,’ he added.