Big Businesses Promise to Help Small Businesses Achieve Growth in Philippines

Published on: 29 August 2022
by KnowESG
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At least 37 of the country's biggest business groups promised to work with the government to help micro, small, and medium enterprises (MSME) grow for a stronger economy.

Simultaneous with the MSME Summit 2022 at the Manila Hotel attended by President Ferdinand "Bongbong" Marcos Jr., members of the Kapatid Angat Lahat Programme led by Jose Maria "Joey" Concepcion 3rd of Go Negosyo vowed to help attain "the overall goal of shared prosperity" by endeavouring to "harness public-private partnership to help MSME development." 

This shall be done by establishing linkages, pooling business opportunities and supporting government policies and programmes toward an enabling and sustainable business environment for MSMEs.

The group stated, "We commit ourselves to the development of programmes anchored on the 3Ms—mentorship, money, and market—to realise for our country and the Filipino people the goal of achieving prosperity for all."

"This is the pledge by the Kapatid Angat Lahat Programme to the Filipino people," it added.

Apart from Concepcion, the other signatories of the covenant were George Barcelon of the Philippine Chamber of Commerce and Industry; Henry Lim Bon Liong of the Federation of Filipino Chambers of Commerce and Industry Inc.; Rosemarie Ong of the Philippine Retailers Association; Rogelio Singson of the Management Association of the Philippines; Eric Teng of the RestoPH; Lars Wittig of the European Chamber of Commerce; Chris Nelson of the British Chamber of Commerce of the Philippines; and Jack Madrid of the IT and Business Process Association of the Philippines, among other business organisations.

Concepcion's Kapatid Angat Lahat Programme aims to provide entrepreneurs with the business opportunities, information, and connections they need to effectively develop and operate MSMEs.

It also aims to provide advice on obtaining legal business registration and operational needs, formalising informal businesses, financial capital assistance alternatives, micro-loans, more robust market access, and business mentoring from ideation to sustainability.

Source: The Manila Times

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