ILOILO City – Support for local businesses, most especially the micro-, small- and medium-sized enterprises (MSMEs). This is what the local business sector wants to hear from President Ferdinand “Bongbong” Marcos Jr. today when he delivers his State of the Nation Address (SONA).
It is MSMEs that keep the economy alive, not just Iloilo’s but the country’s, according to Fulbert Woo, president of the Philippine Chamber of Commerce and Industry (PCCI) – Iloilo Chapter.
The 2020 List of Establishments of the Philippine Statistics Authority (PSA) recorded a total of 957,620 business enterprises operating in the country. Of these, 952,969 (99.51%) are MSMEs and 4,651 (0.49%) are large enterprises. Micro enterprises constitute 88.77% (850,127) of total MSME establishments, followed by small enterprises at 10.25% (98,126) and medium enterprises at 0.49% (4,716).
Woo believes the President is cognizant of the local business’ support to the local and national governments by way of the taxes they pay.
“So our wish is the government’s continued support to Ilonggo entrepreneurs,” said Woo during the recent launching of the upcoming Iloilo Business Week.
Despite myriad of challenges such as the rising fuel prices and the recent increase in the daily minimum wage that strain the financial resources of MSMEs, Woo said Ilonggo entrepreneurs are working hard to keep the local economy afloat.
According to Mary Ann Darroca-Matiling, PCCI-Iloilo director and concurrent president of the Iloilo Hotel Restaurants and Resorts Association (IHRRA), MSMEs generate jobs that employ Ilonggos, and Filipinos in general.
MSMEs are employing approximately 63% of the country’s workforce, the 2020 List of Establishments of the PSA showed.
Sustained support from the government is thus important, said Matiling.
Woo acknowledged the support of the city and provincial governments of Iloilo to local enterprises, particularly at the height of the coronavirus disease pandemic in 2020 and 2021.
“We are grateful. They are very helpful and aggressive in supporting the business sector,” said Woo.
But MSMEs are still in the “recovering stage” vis-à-vis the coronavirus pandemic, he pointed out, and they need help.
National data from the PSA showed the top five industry sectors according to the number of MSMEs in 2020 were:
(1) Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles (445,386);
(2) Accommodation and Food Service Activities (134,046);
(3) Manufacturing (110,916);
(4) Other Service Activities (62,376); and
(5) Financial and Insurance Activities (45,558).
These industries accounted for about 83.77% of the total number of MSME establishments nationwide.
Together, these MSMEs generated a total of 5,380,815 jobs or 62.66% of the country’s total employment. The micro enterprises produced the biggest share (29.38%) closely followed by small enterprises (25.78%) while medium enterprises were far behind at 7.50%. Meanwhile, large enterprises generated a total of 3,206,011 jobs or 37.34% of the country’s overall employment.
In terms of regional distribution, majority of the jobs are generated by MSMEs in the National Capital Region (NCR) with 1,531,256 jobs; followed by MSMEs in Region 4-A (CALABARZON) with 773,668; Region 3 (Central Luzon) with 574,709; Region 7 (Central Visayas), 415,273; and Region 6 (Western Visayas), 294,191.
Meanwhile, PCCI-Iloilo announced it is hosting the first-ever Iloilo Business Week from Aug. 21 to 31, 2022 as part of the celebration of the 85th Iloilo Charter Day.
Woo urged Ilonggos to support this endeavor that primarily aims to create awareness on the many business opportunities in Iloilo, encourage economic activities, and provide a venue for continuing business education and network building.
The business week will kick-off with the Big Iloilo Sale from Aug. 21 to 31. Mall, restaurants, hotels, and other commercial establishments in the city and province will have their respective promos. Up to 80 percent discount on products and services of various participating establishments awaits consumers.
The second run of the Iloilo Business Expo (ILOBEX) will be held from Aug. 24 to 28 at the Festive Walk Mall in the Iloilo Business Park. Over a hundred MSMEs are expected to join this exhibition tagged as the “biggest business expo in Western Visayas.”/PN
