Issue of November 5, 2017
     
NEWS
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OPINION
 

2017
Panagbenga Flower Festival
 
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P2 B for small ventures, shared facilities aimed
by Press release

Senator Loren Legarda increased funding support to expand and enhance the capabilities and competency of micro, small, and medium enterprises (MSMEs) by allocating P1 billion each for the proposed 2018 budgets of the Pondo para sa Pagbabago of the Small Business Corporation and the Shared Services Facilities (SSF) program under the Department of Trade and Industry.

 Legarda, principal sponsor and author of Republic Act 9501 or the Magna Carta for MSMEs and chair of the Senate Committee on Finance, said that she supports the President’s vision on further unlocking the country’s growth potential or “patuloy na pag-unlad.”   

The senator said that setting aside P1B for the Pondo para sa Pagbabago would boost the continuous development of MSMEs, while the P1B for the provision of SSF would enhance their productivity and competitiveness.

Of the P1B for SSF, P200 million will be for SUCs that implement livelihood initiatives, P100M will be for Schools of Living Traditions; and P50 M for the MSMEs affected by the war in Marawi.

“In order for us to sustain our progress and achieve genuine inclusive growth, we need to ensure that we encourage and support the development of our MSMEs, which represent the majority of our enterprises and comprise the largest bulk of our workforce in the country,” Legarda said.

“Compared to larger enterprises, our MSMEs are more susceptible to changes in our economy, which would also affect their capability to employ and expand. Government interventions should address these factors that contribute to the unemployment and underemployment within our working class, as well as poverty incidence among all Filipinos,” she added.

According to a 2015 survey of the Philippine Statistics Authority, of the 900,914 total establishments in the Philippines, 896,839 or 99.5 percent are MSMEs, while the remaining 4,075 or 0.5 percent are large enterprises.

In the same study, MSMEs were found to have generated a total of 4,784,870 jobs in 2015 compared to the 2,981,819 for the large enterprises – indicating that MSMEs contributed almost 61.6 percent of the total jobs generated by all types of business establishments that year.

Of this percentage, 2,285,634 jobs or 29.4 percent were generated by micro enterprises; 1,968,452 or 25.3 percent by small enterprises; and 530,784 or 6.8 percent by medium enterprises.

“I see our MSMEs as crucial partners of the government that can help alleviate poverty. Our support to MSMEs should be beyond easing up bureaucracy for them. Our government should provide technical assistance, such as technology transfer knowledge exchange, skills training, and other capacity building activities, that will further advance the proficiency of our MSMEs,” Legarda said.

“By doing so, we also express our support to unlocking more markets, development of more businesses, and the protection, and perpetuation of our livelihoods. I would like to see our country with a robust economy, teeming with opportunities for all our Filipinos to desire and take,” Legarda said.


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Baguio Country Club
Department of Tourism – CAR
GRAB
Informatics
University of Baguio
Venus Parkview Hotel

Congressman Mark O. Go
Department of Health – CAR
Kings College of the Philippines
Lepanto Consolidated Mining Company
Mayor Mauricio G. Domogan
Narda’s Handwoven Arts & Crafts Inc.
Philex Mining Corporation
Pines City Colleges
Province of Benguet
Sangguniang Panlungsod
SiTEL
SM City Baguio
Social Security System

Assumption Medical Diagnostic Center
Baguio Center Mall
Baguio Central University
Baguio Heart and Lung Diagnostic Center Inc.
Baguio Memorial Chapels Incorporated
Baguio Water District
BDO
Bureau of Fisheries and Aquatic Resources – CAR
C & Triple A Supermart
Congressman Ronald M. Cosalan
Curamed Pharmacy
Data Center College of the Philippines of Baguio City Inc.
Department of Agriculture – CAR
Department of Environment and Natural Resources – CAR
Department of Trade and Industry – CAR
Department of Transportation – CAR
Easter College Incorporated
Fabulo Beauty and Image Salon
Fast East Pacific Commercial
Filipino–Japanese Friendship Association of Northern Luzon, Inc.
GMS Technology
Immigration Network Services, Inc.
La Funeraria Paz, Inc.
Maybank
Mayor Romeo K. Salda
MMS Development Training Center Corporation
Mother Earth Deli Basket
National Economic & Development Authority–CAR
NIIT
Overseas Workers Welfare Administration
Philippine Science High School – CARC
R.A. Gapuz Review Center
Regional Tripartite Wages and Productivity Board – CAR
Solibao – Ganza Restaurant
STI
Technical Education and Skills Development Authority

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