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Gatchalian urges declaration of MSME Week

July 1, 2023 PS Jun M. Sarmiento 205 views

SENATOR Sherwin Gatchalian wants to legislate the declaration of a “National Micro, Small, and Medium-Enterprise (MSME) Week” from June 27 to July 2 every year in a bid to generate much-needed support for small business owners.

Under his Senate Bill No. 949, he seeks to recognize the indispensable role of MSMEs in nation-building, encourage private enterprise and promote entrepreneurial spirit.

“MSMEs play an important role in advancing sustainable development goals, achieving inclusive growth, encouraging innovation, as well as in providing livelihood to local communities, and thus, we need to recognize their contributions in the growth of the national economy,” Gatchalian emphasized.

He pointed out that the observation of the proposed MSME Week is also in line with a resolution adopted by the United Nations General Assembly in 2017 recognizing June 27 as World MSME Day.

The resolution serves as a reminder to governments worldwide to foster a business climate in which small companies may thrive.

MSMEs account for about 90% of businesses, 60% to 70% of employment and 50% of gross domestic product worldwide.

In the Philippines, around 1.076 million or 99.9% of establishments are considered MSMEs based on a 2021 data from the Philippine Statistics Authority.

Under the proposed legislation, the Department of Trade and Industry (DTI), in consultation and partnership with other government agencies and industry associations and organizations, will be responsible for mounting activities relating to MSMEs Week.

“Kailangan nating itaguyod at suportahan ang mga maliliit na negosyo sa bansa para mapanatili nating malakas ang paglago ng ekonomiya at tuloy-tuloy ang paglikha ng mga trabaho para sa ating mga kababayan,” Gatchalian said.