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Micro businesses in the Philippines can be defined according to the size of assets, size of equity capital, and number of employees. A typical micro business is a business that employs nine people or fewer, with assets of ₱3 million and below.
In the Philippines, about 90 percent of all businesses are categorized as micro businesses. These consist of enterprises engaged in industry, agribusiness and or services, whether single proprietorship, cooperative, partnership or corporation. Their total assets, inclusive of those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated, have value of not more than ₱3 million.
Of all micro businesses, about 46 percent are involved in the wholesale, retail and repair business; 27.6 percent are in the accommodations and food service; 13.5 percent are in manufacturing; while 12.5 percent are engaged in other service categories.