How to ask for the money you need?

A business plan is not merely a paper full of ideas on how to create an income and a product to
be sold in the market; but it is also an assignment and a challenge that every entrepreneur must
take and in order to make it happen, we must sell it to the masses. However, easy as it seems
every entrepreneur will still need a source of fund in order to make this business plan into reality.
So how do we ask for the money we need?

Most recommended method

1. Write a Funding Request
● An Outline of The Business
● Current Financial Situation
● How Much Money Do You Need Now and in the Future?
● How Funds Will Be Used
● Current and Future Financial Plans
Reference: https://www.thebalancesmb.com/steps-to-write-a-business-plan-1794230

MSMED Act of 2006

Definition: MSMED Act was established to provide for facilitating the promotion and
development and enhancing the competitiveness of micro, small and medium enterprises and
for matters connected therewith or incidental thereto. Operational from October 2, 2006.

Purpose:
● Address issues in the Micro, Small, and Medium enterprises
● Takes care of Micro, Small, and Medium enterprises
● Addresses limits in investment
● Facilitate the promotion and development of Micro, Small, and Medium scale enterprises
● Enhance the competitiveness of MSM Enterprises
● Concentrate on the related matters of MSM Enterprises
● Extend Scope of benefits from SSI undertaking and ancillary industries to MSM
enterprises

Paki insert rin nung classification of MSME and Benefits na table kahit di na super clear kay di
man parin yan nila basahin, iexplain ko lang

Registration: As per Sec 8(1) of the act, registration of micro or small enterprise (both
manufacturing and rendering of services) or a medium enterprise engaged in providing or
rendering of services in option. However, a medium enterprise engaged in manufacturing or
production of goods pertaining to any industry specified in the First schedule to the IDR act,
1951 is required to file the memorandum with the General manager, District Industries Centre or
any District level officer of equivalent rank in the Directorate or the Department dealing with
Micro, small and medium enterprises of the state government or union territory administration.

GOVERNMENT AGENCIES AND INSTITUTIONAL SUPPORT TO ENTREPRENEURS

Yung table lang rin ng institutes providing varied support activities; sabi ka lang if ako nalang rin
mag screenshot sa pdf. Baka kasi mag iba quality