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Asset Size of Micro, Small and Medium Enterprises

Republic Act No. 9501 (the act to promote entrepreneurship by strengthening development and assistance programs to Micro, Small and Medium Enterprises, amending for the purpose Republic Act No. 6977, as amended, otherwise known as the “Magna Carta for Small Enterprises” and for other purposes) amended Republic Act 6977 into the “Magna Carta for Micro, Small and Medium Enterprises (MSMEs)”.

It amended Section 3 of R.A. No. 6977 which defined small and medium enterprises. Under R.A. No. 9501, the definition included micro enterprises and the asset size requirement for each category was amended.