Senator Christopher “Bong” Go has co-sponsored Senate Bill No. 2021, which aims to institutionalize the Shared Service Facilities (SSF) project under the Department of Trade and Industry (DTI).
“As we all know, micro, small and medium enterprises or MSMEs are considered growth engines of the Philippine economy,” Go said.
However, he said,MSMEs encounter several challenges that hinder their development such as limited financial capacity, poor market information and lack of access to technology.
“We must therefore strive to enact measures that would help and support our MSMEs. One such measure is the Shared Service Facilities project,” he stressed.
The proposed measure seeks to amend Republic Act No. 6977 or the Magna Carta for Small Enterprises as amended by RA 9501, otherwise known as the Magna Carta for Micro, Small, and Medium Enterprises.
If passed into law, the SSF program shall further offer more cost-effective solutions to MSMEs by providing access to shared facilities and services that will help them improve the quality and productivity of their products, including equipment, tools, and machinery that they can use to upgrade their production processes that are typically expensive for individual MSMEs.
The program will also offer training and technical assistance to MSMEs to help them optimize their use of the shared facilities and improve their overall productivity.
It aims to promote inclusive economic growth and reduce poverty by supporting the development of MSMEs, which are a vital component of the country’s economy.
“In general, this will not only benefit small businesses but will also help the community through the development of the local economy,” noted Go.
The senator then expressed his confidence that the SSF project will effectively help MSMEs overcome the challenges that they face in starting or expanding their businesses, especially at this time of the health crisis.
Go added that SSF is just one of the many ways that the government can promote economic development while helping more Filipinos to get back on their feet.