The Small and Medium Enterprise Development Council (SMEDC), the primary agency involved in the promotion, growth and development of the small- and medium-sized enterprises (SMEs) has approved the implementing guidelines for the administration of the Barangay Micro Business Enterprises (BMBE) Development Fund.
SMED and SB Corp. chairman Zorayda Amelia C. Alonzo said the BMBE Development Fund in the amount of P300 m was mandated through Barangay Micro Business Enterprises Act of 2002.
Alonzo said: "The SMED will administer the fund and can be availed of by the Department of Trade and Industry (DTI), Department of Science and Technology (DOST), UP Institute for Small Scale Industries (UPISSI), Cooperative Development Authority (CDA), Technical Education and Skills Development Authority (TESDA) and Technology Livelihood Resource Centre (TLRC) for technology transfer, production, management training, and marketing assistance to BMBEs."
