MANILA — President Marcos called on businesses to support efforts to strengthen micro, small, medium and nano enterprises in the country, citing their role in economic development and job creation.
With the fundamental changes in the global economy brought by the COVID pandemic, so the government is trying to create an ecosystem for startups Marcos said in his speech during the launch of the Cebuana Lhuillier Group of Companies’ Kanegosyo Center in Parañaque City.
He added that 99 percent of businesses in the Philippines are micro, small and medium enterprises and about 63 percent of the workforce are employed by the sector.
“So there is no way that, if we are trying to help the economy, if we are trying to transform the economy, that we do not attend to that enormous slice of our economy,” Marcos said.
“We are trying to help small businesses who have a good idea,” he added.
Marcos said the definition of small businesses now includes the nano enterprises or those that do not fall into any category of economic activity “because they’re way below the radar”
“And this is what ‘Kanegosyo’ and all the other programs that are hoping to assist our small businesses – that is what we are trying to achieve,” the President said.
“That is why, it is not something that is done just purely out of business instinct. It’s not something that is done just to earn profit. It is something that is done to help.”
Marcos reiterated that Filipinos prefer to work than rely on dole outs.
“The good basis that we have here in the Philippines is that only a few Filipinos are lazy. Most Filipinos want to work,” he said.
“And that’s what we build on. And this is what Kanegosyo and all the other programs that are hoping to assist our small businesses, that is what we are trying to achieve,” he added.
Kanegosyo Center is an initiative of Cebuana Lhuillier, the country’s largest micro finance provider. It is a long-term partnership with the government that seeks to promote the development of MSMEs through comprehensive, curated offerings in resources and assistive interventions.
The center is an online, one-stop-system that provides access to micro loans, micro insurance bundles, savings account, micro investment and sales systems, expertise support through a mentorship program and assistance and guidance on government processing requirements.
In a statement, Jean Henri Lhuillier, president and chief executive officer of Cebuana Lhuililer, said Kanegosyo Center was conceived and finely tuned to address issues that continue to challenge the country’s MSME’s; from access to financing, market reach, ease of doing business, and coaching to provide the education and capacity building needed in growing their business.
