There is nothing micro about women entrepreneurs!
Women entrepreneurs dream big, even if they start small.
Go Negosyo founder Joey Concepcion rallied support for women-led micro, small and medium enterprises (MSMEs) last week in a gathering at the Manila Polo Club attended by First Lady Liza Araneta Marcos and Acting Trade and Industry Secretary Cris Roque.
“Much of what we do for MSMEs at Go Negosyo depends on government support,” Joey pointed out. “After all, we believe in greater private sector participation and cooperation with government to advance MSME development.”
In 2023, Bangko Sentral ng Pilipinas Deputy Director Mynard Bryan R. Mojica cited the results of a survey by the Asian Development Bank, which found that 45 percent of micro-businesses were female-led, against 15 percent led by males.
Most of the female-owned MSMEs are active in the wholesale and retail trade, accommodation and food services, and manufacturing, the study revealed.
“To all the women in this room, you are definitely an inspiration to us men,” Joey said. “I admire many women here, especially our micro and small entrepreneurs. When you see them wanting to move up in life, that boosts the strength of everybody in this room who mentor them.”
“We celebrate the involvement of the women entrepreneurs who are instrumental in helping our micro-entrepreneurs grow, drive and level up,” Secretary Roque added.
Among the women business leaders present were SM’s Tessie Sy-Coson, Magsaysay Lines’ Doris Magsaysay-Ho, Sta. Elena Construction and Development’s Alice Eduardo, Vivian Yuchengco, Alou Koa, and Marife Zamora.
According to the DTI, there are more than a million MSMEs in the country. Data also show that 99.5 percent of businesses in the country are MSMEs with almost 50 percent of them in wholesale and retail trade. Collectively, these MSMEs generated a total of 5,607,748 jobs or 65.1 percent of the country’s total employment. Micro-enterprises produced the biggest share (32.69 percent), closely followed by small enterprises (25.35 percent), while medium enterprises, 7.06 percent. Meanwhile, large enterprises generated a total of 3,006,821 jobs or 34.90 percent of the country’s jobs.
“So, if we push or we drive the MSMES, then we also drive the economy,” Secretary Roque concluded. “The partnership between DTI and Go Negosyo has been in advancing MSMEs across the country. So, to all the women here, congratulations.”
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