Concepcion reiterates need to grow MSMEs

MANILA, Philippines — Go Negosyo founder Joey Concepcion is reiterating the need to help micro, small and medium enterprises (MSMEs) grow as it will lead to the creation of more jobs in the country.

During the Laging Handa public briefing yesterday, Concepcion stressed that MSMEs account for almost 99 percent of businesses in the country.

“But the important thing here is that the micro and small entrepreneurs also rise and become medium and large enterprises one day,” Concepcion said in Filipino.

He pointed out that MSMEs contribute around 60 percent of job generation in the country.

“That’s why if big assistance is given to them from big businessmen, this will result in higher employment from these MSMEs,” Concepcion said.

“So that’s our goal. And it’s also important that the economy is inclusive so they will have a higher chance of rising,” he added, highlighting the importance of banks and microfinancial institutions giving MSMEs access to funding.

In addition, he pointed out that big businesses can help the growth of MSMEs by providing mentorships, citing Go Negosyo’s formula of mentorship, money and markets.

Concepcion also cited the important role of local governments in growing small businesses, particularly in organizing small businesses so that they can be connected to big businesses.

He stressed that big companies can help provide technologies to help small entrepreneurs grow their businesses.

“The role of the private sector is to provide mentorship, provide access to money, funding and access to market,” Concepcion said.

As part of his efforts to advocate for the growth of MSMEs, Concepcion recently launched the Kapatid Angat Lahat program, as part of his role as the lead of the jobs group of the Private Sector Advisory Council.

The public-private sector partnership initiative aims to promote inclusive economic growth using Go Negosyo’s framework of providing MSMEs access to money, markets and mentoring.