Jain said the Negosyo Centers, as its core functions, will facilitate business registration; perform business advisory services; business information and advocacy; and monitoring and evaluation.
Jain said that under the law, the Micro-Medium and Small Enterprises (MSMEs) Development Council shall encourage public-private partnerships in the establishment and management of the Negosyo Centers.
[]
In this set up, Jain said that a tight coordination and cooperation among local government units and other agencies and organizations is needed to avoid duplication of efforts, and more important, to foster coordinated action.[]
She said the other salient features of the Go Negosyo Act are technology transfer, production and management training, and marketing assistance for MSMEs; and establishment of a Philippine Business Registry Databank under DTI to serve as a database of all business enterprises in the country.
She said it also aims to establish a start-up fund for MSMEs to provide financing for the development and promotion of MSMEs in priority sectors of the economy to be sourced from the MSME Development Fund and Barangay Micro Business Enterprise (BMBE) Fund; Reconstitute the MSME Development Council and its additional functions; and designate DTI as sole agency to issue certificate of authority for BMBE to avail of benefits and incentives under RA 9178 or the BMBE Act of 2002.
She added that the public, to know more about the law, can read the full text at www.dti.gov.ph on the SMS laws and incentives.