August 11, 2024 | 12:00am
MANILA, Philippines — The Quezon City government has approved a new ordinance providing more support to nano-enterprises, including streamlined regulatory processes and financial assistance.
Mayor Joy Belmonte recently signed the Quezon City Nano-Enterprises Registration Ordinance of 2024, which established the guidelines for the registration of nano-enterprises, defined as livelihoods operated by self-employed individuals or sole proprietorships with an asset size not exceeding P50,000 and gross sales or receipts not exceeding P250,000.
The new policy reduced the documentary requirements for nano-enterprises that apply for or renew their business permits.
They will also be exempt from paying local business taxes and regulatory fees, as well as given priority for financial assistance programs such as grants, subsidies and loans.
“As a way of recognizing the vital role that nano-entrepreneurs play in our local communities, including sari-sari stores, carinderias and beneficiaries of the Pangkabuhayan QC Assistance Program, we will provide them with the necessary support to thrive,” Belmonte said.
The local government officially launched the online business permit application system for nano-enterprises last Friday.
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