March 30, 2023

Young entrepreneurs are potential contributors to the success of the government’s socio-economic development agenda for micro, small and medium enterprises, the top official of the Department of Trade and Industry said.
“The Philippines is the social media capital of the world and this is strengthening the economic independence of the youth entrepreneurship program (YEP) of the department,” Lopez said in his keynote message delivered during the opening of the second year of the Cordillera YEP last Sept. 15.
The event dwelled on DTI programs for young and new entrepreneurs and sharing of experiences of experts and young entrepreneurs.
Seeing the entrepreneurial potential of the youth, Lopez said the agency developed the YEP as its share to the whole-of-nation approach in addressing the health crisis.
He shared the agency’s “7Ms” in accelerating competitiveness among young entrepreneurs which can be accessed to help the sector start, improve, sustain and succeed in doing business.
Lopez said the DTI has the program on creating a “mindset” that helps young entrepreneurs acquire “mastery” of the trade. They also have “mentoring” programs for new and aspiring entrepreneurs and provide “machines” under the shared service facility (SSF) where the department gives equipment.
There is also a “market” access program where the DTI links MSMEs with potential markets and a “module” to continue providing skills.
Lopez said the government is assisting 18,160 MSMEs in the Cordillera that has created 38,397 jobs and introduced about P1 billion to micro entrepreneurs, assisted by the 47 Negosyo Centers.
“These programs can be accessed by our small entrepreneurs, including the youth entrepreneurs because we believe in young people as future businessmen,” he said.
DTI also plans to come up with programs for the differently-abled and out of school youth said Usec. for Regional Operations Blesila Lantayona.
DTI Regional Director Juliet Lucas said that since the start of the pandemic, they saw the trend of young people going into business by using the Internet.
To date, over a hundred young entrepreneurs have been trained where 67 of them have pursued specialized training and courses on entrepreneurship. – PNA