The Philippine Chamber of Commerce and Industry (PCCI) is urging small businesses to take advantage of the government’s infrastructure program, as it will give them the access to a wider market that was formerly unavailable to them.
In an interview with the BusinessMirror, PCCI President Maria Alegria Sibal-Limjoco said micro, small and medium enterprises have a golden opportunity to expand their reach under the “Build, Build, Build” (BBB) program. She said the transportation and connectivity projects to be built by the government will significantly boost MSMEs’ market access, especially those based in far-flung areas.
“With the Build, Build, Build is the ‘golden age of infrastructure,’ and with the golden age of infrastructure will come also the golden age of MSMEs. It is the golden age of entrepreneurship,” Sibal-Limjoco said.
She also said the country will have a more conducive environment for small businesses once the infrastructure projects are completed. “We expect it will be more inviting for Filipinos to become entrepreneurs if it is easier to transport products, which will only be available thanks to the government’s plan to build more and more public infrastructure.”
Under the BBB program, the government is keen on completing dozens of infrastructure projects, such as the North Luzon Expressway Harbor Link, Luzon Spine Expressway, Philippine National Railway North and South Rails and the Metro Manila Subway. It aims to achieve this plan by accelerating the country’s infrastructure-to-GDP ratio by 7.4 percent, which is expected to amount to as much as P9 trillion by the end of President Duterte’s term.
The government has, so far, allocated P3.6 trillion for its infrastructure program, most of which will be spent for roads, bridges and facilities in Metro Manila and other major urban centers. Aside from the annual budget, the infrastructure program will also rake in 70 percent, or P84.84 billion, of the expected revenue of P121.2 billion from the new tax law.
In line with the Department of Trade and Industry’s push to develop the MSME sector, Sibal-Limjoco said the PCCI will focus on assisting small businesses this year.
“That is why my program is [geared toward] prosperity to inclusive business [because] I would like to help micro, small and medium enterprises,” she added.
Sibal-Limjoco said she wants to put the spotlight on MSMEs this year to hop aboard the government’s campaign of including products of small businesses available in the global value chain. Her focus will be on educating entrepreneurs on financial literacy and assisting them in sustaining their businesses in spite of market competition.
“Hopefully, they will be able to put this into practice because what has happened [was] I have made many brands [that] were [formerly] micro and now they are global, and that is because of franchising,” she said.
“Now I just got all the good points in creating a business, which is to have a good foundation, financial literacy. What I did is I already [create] a checklist, like an easy form. We are going to explain it, and then we will just put a checklist to make sure if they have done this and that, like starting a business made simple,” the PCCI chief added.