Micro Enterprises’ Level of Awareness and Intention to Avail Provisions of BMBE Act of 2002, Magna Carta for MSMEs and Go Negosyo Act

Derick S. Figueroa, Dana Shane De Guzman, Anlie P. Gonzales, Mharvie Blaise B. Guerrero and Bredgitt Kyle V. Pimentel
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Derick S. Figueroa: Accountancy Department, College of Business and Accountancy,Tarlac State University
Dana Shane De Guzman: Accountancy Department, College of Business and Accountancy,Tarlac State University
Anlie P. Gonzales: Accountancy Department, College of Business and Accountancy,Tarlac State University
Mharvie Blaise B. Guerrero: Accountancy Department, College of Business and Accountancy,Tarlac State University
Bredgitt Kyle V. Pimentel: Accountancy Department, College of Business and Accountancy,Tarlac State University

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 3, 865-886

Abstract: Micro enterprises perform a critical role in local communities through providing low-income populations greater prospects for employment and a livelihood, thereby increasing their quality of life. Ninety-nine and fifty-eight hundredths of business enterprises in the Philippines are classified as micro-enterprises based on employment and asset size. The Philippines has recognized the importance of micro-enterprises and has passed laws such as the BMBE Law of 2002, Magna Carta for MSME of 2008, and Go Negosyo Act of 2014 to support the establishment, integration, and sustainability of these businesses. Microenterprises, despite their economic importance, frequently do not know about the laws and regulations that are intended to encourage and promote their expansion.

Date: 2024
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