Even after taking a toll because of the Covid-19 crisis, the country's micro, small, and medium enterprises (MSMEs) would lead the Philippines' recovery following three years of the pandemic.

Go Negosyo founder Joey Concepcion (File photo)

Go Negosyo founder Joey Concepcion said this after President Marcos noted on Monday, May 22, that the "worst is over" for Covid-19 in the Philippines so the country could shift its plans and priorities on economic development and improving the lives of Filipinos.

"If there is one sector that has been active and striving during the pandemic, it is the MSMEs," Concepcion said in a statement.

"They have borne the brunt of the worst, but they persevered, and they are ready to take advantage of this rebound," he added.

According to Concepcion, the pandemic served as an opportunity for some MSMEs to pivot to digital technology.

"They quickly adapted to selling online, and thanks to platforms that were easy and accessible for them, such as the digital payments platforms, social media, and delivery and ride-hailing apps, they became quite fast at changing the way they did business," he said.

"We saw people becoming micro-influencers and content creators; these are practically nano-preneurs because their capital is their own skills," he added.

The Go Negosyo founder said the present conditions are favorable for MSMEs after the Senate passed, on the third and final reading, the proposed amendments to the Magna Carta for Small Enterprises, institutionalizing shared service facilities (SSF) for MSMEs. The House of Representatives, meanwhile, approved, on the third and final reading, House Bill 6336, a measure condoning the existing loans that farmers incurred in owning lands under the Comprehensive Agrarian Reform Program (CARP).

"I am glad that MSMEs remain a priority of the President's agenda. Even the condonation of agrarian reform beneficiaries' debts will help because many of our nano- and microentrepreneurs are in the agriculture sector," Concepcion said.