GREATER GOV'T SUPPORT FOR MSMEs SOUGHT

PhilExport President Sergio Ortiz-Luis Jr. called technology and IP as some "bright linings" to the current plight of MSMEs.

"Technology is something that can be used by MSMEs. The IP system can put value to their assets," Ortiz said, adding that some companies' IPs are far more valuable than their physical assets.

However, Ortiz said the government must do more, noting that while many laws have been enacted, various efforts launched, the Philippines has yet to see its MSME stand as a backbone to the economy, "simply because over the years we have neglected and never taken seriously this thing about empowering MSMEs."

ADB’s recent study titled Asia Small and Medium-Sized Enterprise Monitor 2020 shows that Philippine banks only lent $11.6 billion to MSMEs in 2019, logged the smallest MSME bank loan total among the Association of Southeast Asian Nations-5 for the year.

Regional Operations Group Undersecretary Blesila A. Lantayona joined the call for greater support for MSMEs, highlighting greater collaborations and capacity building especially as the times demand entrepreneur upskilling, retooling, and repurposing.

"Our MSMEs should really need to be more resilient [and understand] how to adapt and pivot according to the needs of the market," Lantayona said.

"Really, government must help enhance this capacity of our MSME so it is actually a collaboration with entrepreneurs [and] government," she added.

Fortunately for MSMEs, the government provides numerous support to scale up their capacities in ways tailored for their needs and relevant to current and emerging trends.

Lantayona touted how the DTI's 1,179 Negosyo Centers in cities and municipalities serve as a one-stop shop for MSMEs. Here, entrepreneurs can enhance their products and capacities, access loans, and even have their IP registration applications facilitated.

For needs specific to developing entrepreneurial skills, Lantayona touted the DTI's Kapatid Mentor Me program and the Youth Entrepreneurship Program as proving indispensable in producing successful entrepreneurs over the years.

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