Finding the ‘BFF’ for your business

Conclusion

Equally commendable is the city’s recognition of the vital role nano-enterprises play in the local economy. These include sari-sari stores, carinderias, street vendors and other small-scale businesses that the local government considers a major part of the backbone of its local economy.

The enactment of the Quezon City Nano-Enterprises Registration Ordinance in April 2024 marked a pivotal moment for these small businesses. Through this ordinance, an estimated 55,000 nano-enterprises now have access to a range of benefits, including financial support, tax relief and priority access to government programs. This not only offers a lifeline to the city’s smallest businesses, but strengthens as well the broader economy as it ensures the sustainability of our grassroots enterprises.

As Mayor Joy Belmonte aptly noted, “We recognize the vital role that nano-entrepreneurs play in our local communities. Sari-sari stores, carinderias and beneficiaries of the Pangkabuhayan QC Assistance Program deserve the support they need to thrive.”

And the city’s support, of course, isn’t limited to small businesses. As I write this, the city is making remarkable strides in attracting large-scale investors by streamlining its processes, while staying aligned with national priorities. The amendment of the QC Incentives Code, conforming with the Bureau of Investments’ National Strategic Investment Priority Plan, is a prime example. The updated code now offers incentives such as two-year tax exemptions for new buildings and three-year exemptions for businesses operating in priority sectors.

These reforms are not just beneficial for businesses but also serve the city’s long-term goals, guided by the AmBisyon 2040 objectives, and as well as the United Nations’ Sustainable Development Goals.

As the city continues to refine its economic policies and infrastructure, it positions itself as a hub for innovation, progress and inclusivity. In doing so, QC sets a high standard for what a true business-friendly city can achieve for both its constituents and its stakeholders, from the sari-sari stores and bakeries, to the biggest investors and the greater national economy.