Follow us for updates
© 2020 reportr.world
Read the Story →

Makati to Support Businesses With Up to P100,000 Cash Aid

"Hindi ito utang," Mayor Abby Binay says.
by Clara Rosales
Sep 8, 2020
Photo/s: Pixabay / florantevaldez
Shares

The Makati City government is looking to grant small businesses up to P100,000 each so they can continue operations without having to let go of personnel during the COVID-19 pandemic, Mayor Abigail Binay said.

The P2.5 billion project is part of the city’s efforts to boost its economy and help its residents stay employed, Binay said in a Facebook Live video. “Hindi po ito utang, tulong po ito sa mga negosyante ng Makati (This is not a loan, this is help for Makati business owners)."

The grant will be remitted directly to the accounts of the employees and their suppliers, and how much a business gets will depend on how many Makati residents they have onboard as employees, she said.

Businesses looking to qualify for the aid must commit to staying open for 2 years. They should not lay off employees who are also residents of Makati.

The city will also lower the local business tax to encourage online sellers and small businesses to register for the project.

Continue reading below ↓

“You register, you pay the lowest business tax and be recognized as a legitimate business entity para matulungan namin kayo dahil nakarehistro kayo sa amin, (so we can help you because you are registered with us),” she said.

Restaurants will also get some help from the city in the form of additional operating hours. According to Binay, Makati will implement a travel window during curfew hours, wherein city residents will be allowed to visit food establishments and return to their homes from 9 p.m. until 10 p.m. There will be no curfew violations recorded for such act.

City residents will have to present an official BIR receipt that shows they were at a Makati establishment from 9 to 10 p.m. This will only be applicable to Makati residents dining in Makati establishments.

Latest Headlines
Read Next
Recent News
The news. So what? Subscribe to the newsletter that explains what the news means for you.
The email address you entered is invalid.
Thank you for signing up to On Three, reportr's weekly newsletter delivered to your mailbox three times a week. Only the latest, most useful and most insightful reads.
By signing up to reportr.world newsletter, you agree to our Terms of Service and Privacy Policy.