The members of the Council shall be the following:
(a) The Secretary of Trade and Industry as Chair;
(b) The Secretary of Agriculture;
(c) The Secretary of the Interior and Local Government;
(d) Three (3) representatives from the MSME sector to represent Luzon, Visayas and Mindanao with at least one (1) representative from the microenterprise sector;
(e) One (1) representative from the .women sector designated by the Philippine Commission on Women;
(f) One (1) representative from the youth sector designated by the National Youth Commission; and
(g) The Chairman of Small Business Corporation.
A. Advisory Unit. – There shall be an Advisory Unit to the Council, which shall consist of the following:
(a) The Secretary of Science and Technology;
(b) The Governor of the Bangko Sentral ng Pilipinas;
(c) The President of the Land Bank of the Philippines;
(d) The President of the Development Bank of the Philippines;
(e) The Director General of the National Economic and Development Authority;
(f) One (1) representative from the labor sector, to be nominated by accredited labor groups;
(g) A representative from the private banking sector to serve alternatively between the chamber of thrift banks, and the Rural Banker’s Association of the Philippines (RBAP);
(h) A representative of the microfinance nongovernment organizations (NGOs);
(i) A representative of the University of the Philippines-Institute for Small Scale Industries (UP-ISSI); and
(j) The President of the Credit Information Corporation.
The MSMED Council may consult the Advisory Unit in its regular meetings and other activities of the Council. However, no voting rights shall be granted to the members of the Advisory Unit.
Aside from its existing functions as mentioned under Section 7-B of Republic Act No. 9501, otherwise known as the “Magna Carta for Micro, Small and Medium Enterprises (MSMEs)”, the MSMED Council shall have the following additional functions:
(a) Coordinating and Oversight Body for the Negosyo Center. – The MSMED Council, through the DTI, shall act as the coordinating and supervising body for all the agencies involved in the establishment and operation of the Negosyo Centers. Further, the MSMED Council shall monitor and assess the progress of the Negosyo Centers, which shall be included in its annual report submitted to the Congress.
(b) Provision of a Compliance Guide. – For each rule or group of related rules issued by any government agency for compliance by MSMEs, the Council shall publish compliance guidelines which shall be written in plain language or in the local dialect, if necessary.
The Council shall prepare separate compliance guides covering groups or classes of similarly affected MSMEs and shall cooperate with industry associations to develop and distribute such compliance guides. The publication of each compliance guide shall include the posting of the guide in an easily identified location on the website of the agency, and distribution of the guide to known industry contacts, such as small entities, associations or industry leaders affected by the rule. The issuing government agency shall publish and disseminate the compliance rules within ninety (90) days from the date of issuance.
(c) Conduct of Research on Women Entrepreneurship.– The Council shall conduct research to support women entrepreneurship including, but not limited to entrepreneurial behavior, barriers, participation and cessation rates, discriminatory practices and contribution to the national economy and growth.
(d) Policy Formulation on Women Entrepreneurship. – The Council shall provide policy direction towards recognizing women’s propensity in doing business as well as establish linkages that will enable more opportunities for women to engage in entrepreneurship.
(e) Development of Entrepreneurial Education and Training. – The MSMED Council shall develop, in coordination with the Department of Education, TESDA and CHED, a course curriculum or training program in entrepreneurship that will promote entrepreneurial culture and competence. Entrepreneurship shall be integrated in the curriculum of educational and training institutions in all levels.