Philippine MSMEs

The impact of Small and Medium Enterprises (SMEs) in both global and local economies, as well as societies, cannot be emphasized enough. In the Philippines, Micro, Small, and Medium Enterprises (MSMEs) are considered the backbone and driving force of our economy. MSMEs comprise 99.58%1 of more than one million business enterprises operating in the country.

In addressing the challenges faced by MSMEs such as lack of access to finance, insufficient market information and access to markets, inadequate access to affordable technology, impact of climate change and ease of disaster recovery, and cost and ease of doing business, DTI, through the leadership of Secretary Fred Pascual provided 360-degree support for MSMEs. The Magna Carta for MSMEs has enabled the Department to pursue more robust directions in contributing to MSME development.

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Juskolord, make it easier for micro-entrepreneurs to comply. With 90% of all employers belonging to this sector, we should be helped in making it easy to comply. Laws and regulations are designed for corporations who are the minority of businesses in the country.