QC LGU earmarks P700M recovery plan for SMEs

Published June 30, 2020, 12:00 AM

by manilabulletin_admin

By Joseph Pedrajas

The local government of Quezon City will be allocating P700 million as a recovery plan for small and micro enterprises (SMEs) affected by the coronavirus disease (COVID-19) crisis in the city.

Quezon City Logo (MANILA BULLETIN)
Quezon City Logo (MANILA BULLETIN)

Mayor Joy Belmonte said in a statement that the fund will be used to partially cover the wages of employees of qualified businesses.

This came after the city council approved on Monday the Sustainable Recovery Plan, which contains the policy and program directions for the city “to bounce back from the negative effects of the community quarantine.”

“This program aims to help our micro and small entrepreneurs meet ongoing business costs by providing wage subsidies that can help keep their employees and business operations until they get back on their feet,” Belmonte said.

Mona Yap, head of the city’s small business and cooperatives office, said that eligible businesses, which are under the city’s “Kalingang QC Para sa Negosyo program, will receive wage subsidies starting July until September.

“Quezon City-registered micro-enterprises with less than nine employees or with an asset size or capitalization of up to P3 million…may avail of the program,” she said.

“Micro enterprises that are forced to suspend or reduce business operations, experienced revenue decrease or loss, those currently operating or plan to re-open by July 2020 can also apply,” she added.

Also eligible under the program are active employees of qualified micro business enterprises, whether regular, probationary, regular seasonal, project-based, or fixed-term.

Small businesses registered in the city that have 10-99 employees or with an asset of more than P3 million up to P15 million can apply as well.

Yap said, those interested may send their application starting July 6 to July 20, 2020. No late applicants will be accommodated.

The local government said guidelines and conditions for qualified small businesses will be released soon and interested enterprises may apply through the QC E-Service Portal.

 
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