Guide to the Magna Carta for Micro Small and Medium Enterprises

annually: Provided, That prices and quality of goods offered by theregistered small enterprises are competitive.”Sec. 3. Sec. 5 of Republic Act No. 6977 is hereby amended toread as follows:“Sec. 5 Guiding Principles. - To set the pace for small andmedium enterprise development, the State shall be guided by thefollowing principles:“(a) Minimal set of rules and simplification of proceduresand requirements. - All government agencies having to dowith small enterprises shall pursue stability of rules and toencourage entrepreneurial spirit among the citizenry. Theagencies shall see to it that procedural rules andrequirements, within their respective offices in coordinationwith other agencies, are minimized in the act of registration,availment of financing and accessing other governmentservices and assistance.“(b) Role of the private sector. - In order to hasten growthand expansion of small and medium enterprises, the privatesector throughout the country shall be encouraged to assistin the effective implementation of this Act by participating ingovernment programs for small and medium enterprisesstrictly in accordance with the law, and consistent with theattainment of the purposes hereof. To encourage privatesector participation, the Council, in consultation with theconcerned sector, may recommend simplified procedure andlocalized incentives to small enterprises. The Governmentshall encourage the organization and establishment of smalland medium enterprise industry associations at the localand regional levels preferably unified under a nationalfederation/association.“(c) Coordination of government efforts. - Government effortsshall be coordinated to achieve coherence in objectives. Allappropriate offices, particularly those under the Departmentsof Trade and Industry, Finance, Budget and Management,Agriculture, Agrarian Reform, Environment and NaturalResources, Labor and Employment, Transportation andCommunication, Public Works and Highways, Science andTechnology, Local Government and Tourism as well as theNational Economic and Development Authority and theBangko Sentral ng Pilipinas, through their national, regional94