Senator Nancy Binay meets Zofia Canlas, 1st nominee of Batang Quiapo Party-list during one of the group's market sorties in Makati City (Contributed photo)

Batang Quiapo (Quiapo Youth) Party-list highlighted the strong entrepreneurial spirit of Filipinos, even as it underscored the need for Congress to pass more microfinancing and business-friendly laws.

Zofia Canlas, a nominee of the party-list who is also an online seller and a marketing expert, said recent surveys showed a strong desire among Filipinos operate their own businesses to gain flexibility and financial stability.

A March 2023 survey by OCTA Research showed that 78 percent of 1,200 adult Filipino respondents, or nearly eight out of 10, wanted to become entrepreneurs to manage their own time and schedules.

Meanwhile, the National Economic and Development Authority's (NEDA) “Ambisyon Natin 2040” report found that 47 percent of Filipinos preferred to be employers in family-operated businesses, while 22 percent wanted to be self-employed without any paid employees.

Citing this data, Canlas stressed the need for laws on microfinancing that will mandate banks to provide small loans, savings, and other financial products to low-income individuals or entrepreneurs who currently have no access to traditional banking services.

This will promote financial inclusion and support self-sustaining economic development, she said.

“Microfinancing laws will benefit low-income entrepreneurs such as small business owners, vendors, traders, women facing barriers to financial services, and rural communities with limited access to traditional banking,” noted the aspiring congresswoman.

“Overall, microfinancing can be a valuable tool for promoting economic development and financial inclusion," the Batang Quiapo Party-list nominee said.

Canlas said a key advocacy of Batang Quiapo is "Loan Puhunan," a microfinancing initiative for vendors and other micro entrepreneurs.

“Micro, small and medium enterprises (MSMEs) need microfinancing because they have limited access to traditional financing,” Canlas said. She pointed out that MSMEs often struggle to secure bank loans due to lack of collateral, credit history, or financial records.

“This is what we will push in Congress,” she added.

The Batang Quiapo Party-list will represent Filipinos striving to earn an honest living and secure a better life for their families, Canlas said.

Other nominees of the party-list include Ruskin Principe, lawyer and Vilma Macasaet-Arce, a veteran external relations practitioner and daughter of a former market vendor.

A recent OCTA voters’ preference survey showed that Batang Quiapo is currently in 35th place among 156 party-list groups accredited by Commission on Elections (Comelec), This means it is on track to win at least one seat in Congress.