SBCorp recognized as 5th top performing GOCC in 2019
The Small Business Corporation (SBCorp) was recognized as the 5th Top Performing Government-Owned and Controlled Corporation in the 2019 Corporate Governance Scorecard (CGS) by the Governance Commission for Government-Owned and Controlled Corporation (GCG).
The recognition affirms SBCorp’s continued adherence to best practice in corporate governance, having previously placed 7th in the 2018 CGS.
The improved ranking provides confidence to SBCorp’s stakeholders as the organization delivers transparent, accountable, and customer-focused service to micro, small, and medium enterprises in the country
SBCorp further strives to maintain sound corporate governance, consistent with the belief that it advances the organization’s mission, fundamental goals, and social outcome objectives and puts MSMEs at the forefront of inclusive economic growth.
As a key pillar of the country’s economy, MSMEs contribute 35.7 percent to the gross domestic product, employ 62.5 percent of the labor force, and constitute 99.5 percent of all business establishments.
The Department of Trade and Industry and SBCorp supports the financing needs of MSMEs through special financing facilities such as the Pondo sa Pagbabago at Pag-asenso Program and, recently, the Bayanihan Cares Program.
Bayanihan Cares is a P10-billion stimulus financing program specifically developed to mitigate the adverse impact of the pandemic on MSMEs.
The GCG in partnership with the Institute of Corporate Directors established the CGS to raise corporate governance standards and practices of GOCCs to be at par with ASEAN state-owned enterprises. – Press release