The SMED Council formulates SME promotion policies and provides guidance on implementing SME programs. It is a multi-agency group of eight persons who represent concerned government agencies, and four private sector representatives.

          Government representatives are ex officio members: NEDA Director –General; Department Secretaries of Trade and Industry, Labor and Employment, Science and technology, Agriculture, Environment and Natural Resources; Chairman of Small Business Guarantee and Finance Corporation; and Chairman of the BSP Monetary Board. The private sector members represent Luzon, Visayas, Mindanao and the private banking sector.

           The DTI Secretary chairs the SMED Council and PCCI private sector representative serves a Vice Chair. DTI’s Bureau of Small and Medium Enterprise Development (BSMED) serves as Secretariat.

           The SMED Council oversees the implementation of the SME Development Plan 2004-2010 which aims to transform the SME sector into a significant contributor to national development by 2010. This vision shall be attained through clear and integrated strategies to attain global competitiveness for Philippine SMEs, within a supportive operating domestic climate