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Manila Bulletin devider Philippines devider Go: Strengthening MSMEs through DTI's Shared Services Facilities project will economically empower more Filipino entrepreneurs ​

Go: Strengthening MSMEs through DTI's Shared Services Facilities project will economically empower more Filipino entrepreneurs ​

Published Mar 27, 2023 03:52 am
Senator Christopher “Bong” Go said strengthening micro, small and medium enterprises in the country through a bill institutionalizing a project of the Department of Trade and Industry (DTI) will help practically help empower Filipino entrepreneurs especially those in the provinces.    Go, co-sponsor of Senate Bill No. 2021, which aims to institutionalize the DTI’s Shared Service Facilities (SSF) project, said it is important that the government can help improve their lifestyle, provide them with a good livelihood especially during this time of an economic recovery.    “As we all know, micro, small and medium enterprises or MSMEs are considered growth engines of the Philippine economy. Most especially at this time of economic recovery, MSMEs play a crucial role in our development,” cited Go in his co-sponsorship speech on the bill last Wednesday, March 22.   “By institutionalizing this program, we seek to economically empower our people lalo na sa mga probinsya (especially those who are in the provinces),” Go stressed.   Go noted that MSMEs encounter several challenges that hinder their development such as limited financial capacity, poor market information and lack of access to technology.    “We must, therefore, strive to enact measures that would help and support our MSMEs. One such measure is the Shared Service Facilities project,” he stressed.    “In general, this will not only benefit small businesses but will also help the community through the development of the local economy,”  the senator said.    Through the program, MSMEs can avail of training and technical assistance to help them optimize their use of the shared facilities and improve their overall productivity.    It also aims to promote inclusive economic growth and reduce poverty by supporting the development of MSMEs, which are a vital component of the country’s economy, according to the lawmaker.   “Supporting small businesses plays a crucial role for the country. MSMEs are often the drivers of innovation and entrepreneurship. They can quickly respond to changing market demands and develop new products or services that meet the needs of their customers,” underscored Go.   
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