According to local statistics, 66% of the country’s economy is composed by Micro, Small and Medium businesses or MSME’s! Despite of this, there’s little or no support at all from the government to these sectors. The previous Arroyo administration had some campaigns in helping these sectors and it is inspiring to hear that a city support Senator Aquino’s efforts on this under the present government:
ILIGAN CITY, PHILIPPINES – The Sangguniang Panlungsod of Iligan supports the Go Negosyo Bill of Sen. Benigno “Bam” Aquino that would give support to small businesses and jobless people in the country so they could start a livelihood.This is through a resolution endorsed by Councilor Frederick W. Siao, Committee chairman on Trade, Commerce and Industry and approved by the council. http://www.iligan.gov.ph/city-council-supports-negosyo-bill-senator-aquino/
Filipinos are very entrepreneurial people. Aside from that, they are also very creative, talented and resourceful. You can find the best home made delicacies in the country. Often, businesses start from selling these creations in one’s hometown. However, substantial capital is needed to expand the business to other places. When there’s already a credit facility in place for this purpose mandated by the government, it will be easier for a small business to graduate to medium then big or large business!