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Pangilinan, Ervi Festin

March 17, 2015

AGRI 161
RA 10644: GO NEGOSYO ACT
On July 15, 2014 President Benigno S. Aquino III signed into law Republic Act No. 10644,
otherwise known as the GO NEGOSYO ACT. Here are the top 5 things you ought to know
about the new law:
1. The law seeks to promote job generation and inclusive growth through the
development of micro, small and medium enterprises (MSMEs) in the country.
Micro business and small and medium enterprise is one of the businesses that the
Filipino usually engaged with. This can give importance on how MSMEs help in the
nation building and on the financial stability of the country. Building MSME can also
create and give jobs to other people.
2. Perhaps the most salient feature of the law is the establishment of Negosyo
Centre in all provinces, cities and municipalities. Responsible for promoting
ease of doing business and facilitating access to services to MSMEs within its
jurisdiction, the Negosyo Centers shall provide assistance to MSMEs in the
availment of technology transfer, production and management training programs
and marketing assistance of the Department of Trade and Industry (DTI),
Department of Science and Technology, UP ISSI, Cooperative Development
Authority and other agencies concerned.
This part of the law can help for faster dissemination of information from different
research facilities that can help in improving the MSME in the country.
3. A unified and simplified business registration shall also be developed and made
available in all Negosyo Centers. The law guarantees fast approval of business
registrations through the automatic approval of business permits and licenses
that are not approved for any reason within fifteen (15) days.

Processing of the business permits and license to operate an MSME can sometimes be
so difficult to get. Sometimes it hinders the entrepreneurs to start their business. But
having this law can help in a faster processing of papers. This can help in creating more
business in the future.
4. A Philippines Business Registry Databank shall also be established under DTI to
serve as a repository of information of all business enterprises in the Philippines.
A data base can help to centralize the activity and records of all MSME in the
Philippines. This can help for faster gathering and analysis of da and statistics about the
different MSME that can help for future references and studies.
5. Finally, aside from the existing benefits for MSMEs, a startup fund for MSMEs
shall also be established to provide financing for the development and promotion
of MSMEs in priority sectors of the economy as specified in the MSMED (MSME
Development) Plan.
This part of the law can really help to the entrepreneurs the want to start their business
but lacking for their capital. I just hope that this part can be implemented well and the
fund for this may really go to the different entrepreneurs who are in need and not in the
hands of the corrupt government officials.
References:
http://www.entrepreneurship.org.ph/index.php?
option=com_content&view=article&id=537%3Atop-5-things-to-know-about-the-new-gonegosyo-act&Itemid=90
http://www.dti.gov.ph/dti/index.php/negosyo-center/go-negosyo-act
http://www.gov.ph/2014/07/15/republic-act-no-10644/

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