Makati to grant up to P100-K support to local businesses: Binay


Posted at Sep 07 2020 09:29 PM

Makati to grant up to P100-K support to local businesses: Binay 1
Screengrab from Makati Mayor Abigail Binay's Facebook live video on Sept. 7, 2020

MANILA - Makati Mayor Abigail Binay on Monday said the city government plans to grant up to P100,000 to around 78,000 small businesses in the city so they won't shut down and they can keep employing their staff.

In a Facebook Live video, Binay said the P2.5 billion program is part of the city’s initiative to pump-prime its local economy, keep its citizens employed, and prevent Makati-based businesses from shutting down permanently.

“Hindi po ito utang. Tulong po ito sa mga negosyante ng Makati,” Binay said.

(This is not a loan. This is aid for the businesses of Makati.)

Binay said that for locally-based businesses to qualify, they will need to commit to staying open for 2 years, and they should not lay off their employees who are Makati residents.

She said the money will be remitted directly to the accounts of the employees of the business establishments and their suppliers.

Binay also said that Makati will lower its local business tax rate for online sellers to entice these small businesses to register.

“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),” the Mayor said.

She said that the local government also recognizes that restaurants cannot survive within the limited operating hours mandated by the curfew.

To support Makati restaurants, Binay said the local government will implement a “travel window during curfew hours.”

“It will allow Makati residents to patronize their favorite restaurants and businesses within the city up to 10 p.m. and go back to residences without violating the curfew.”

Makati residents just need to show a machine-generated BIR official receipt indicating that they were at the specified establishment in Makati from 9 p.m. to 10 p.m. She said the travel window only applies to Makati residents dining in Makati.