Assessment on the Implementation of Barangay Micro Business Enterprises Act of 2002 Relative to the Profitability of Food Businesses in Victoria, Laguna

Abstract

Barangay Micro Business Enterprise (BMBE) law was enacted in 2002 in the Philippines to promote the growth of small and micro-enterprises in the food industry by providing tax incentives and simplified business registration procedures. This study aimed to analyze the effectiveness of BMBE implementation in the food industry, its impact on business profitability, and identify areas for improvement. A survey was conducted on 30 BMBE-registered sole proprietor food businesses in Victoria, Laguna, using a quantitative research method. The findings showed that the BMBE Act of 2002 has benefited micro- enterprises in the food industry, helping them reduce labor costs, comply with regulations, improve their financial status, and allocate more resources for economic expansion and growth. The study highlights the importance of government support for small businesses and suggests targeted interventions or support programs. The researcher recommends further research and promotion of BMBE registration, consistent and effective implementation, and guidelines for monitoring and evaluation.