SEC Introduces CAFE SEC Platform for MSMEs and Startups

The Securities and Exchange Commission (SEC) has unveiled a new platform, Call-a-Friend and Engage with SEC (CAFE SEC), to assist small businesses and startups in accessing support through crowdfunding initiatives.

Introduced during the 11th and final leg of the 2023 Roadshow on Capital Formation for Micro, Small, and Medium Enterprises (MSMEs) and Start-Ups at The Summit Hotel in Tacloban City on December 7, CAFE SEC aims to be a user-friendly channel for participants to reconnect with crowdfunding intermediaries and the Philippine Stock Exchange (PSE) for financing inquiries.

SEC Commissioner Karlo S. Bello emphasized the need for broader financing instruments for MSMEs in the pursuit of financial inclusion.

“Together with our industry partners, we wish to present different ways you can acquire financing through the capital market to jumpstart your business or expand your operations,” added Commissioner Bello.

CAFE SEC will conduct weekly consultation meetings starting December 13, with subsequent meetings scheduled every Wednesday.

Since its launch in February, the SEC’s roadshow has covered key cities, drawing over 1,500 in-person attendees and more than 8,000 online participants over the year. The roadshow is part of the SEC’s initiatives through the Office for the Advancement of Strategic Investments in SMEs (OASIS) to bolster the viability and growth of the MSME sector. These initiatives include establishing innovative and capital-raising markets, simplifying registration processes, and encouraging investment entities to provide SME-friendly advisory programs.

This initiative aligns with the SEC’s 888@88 goal, aiming for a minimum of 888 companies to access the capital market by the SEC’s 88th anniversary in 2024. (ASC)