Sat, 08 Aug 2020

DTI-10 adopts new interventions to assist MSMEs under 'new normal'

Philippine Information Agency
12 Jul 2020, 00:38 GMT+10

CAGAYAN DE ORO, July 11 (PIA) - Following a recent report from the National Economic and Development Authority (NEDA)-10 that the medium, small, and micro enterprises (MSMEs) have been adversely affected by the coronavirus disease 2019 (COVID-19) pandemic, the Department of Trade and Industry (DTI) - 10 is now looking for ways to make the businesses in Northern Mindanao perk up and adapt to the new normal.

"Under the 'new normal', the DTI needs to find new ways on how to reach out to our MSMEs. We usually have a cycle of services under MSMEs such as financing, training and marketing. Through our "pondo sa pagbabago" (PSP) program, we have allocated funding assistance for our MSMEs affected by the pandemic," DTI-10 Business Development Division Chief Maricris Gabia said during "Talakayan sa PIA" media forum.

Based on the data they received, almost 600 applicants here in region 10, whose value amounts to almost P150 million, are managed by Small Business Corporation (SBC), an attached bureau of the DTI, Gabia disclosed.

To limit physical presence and mass gathering, DTI makes all applications available online. "As of now the applied amount is more than the allocation," Gabia said, hoping that the applied amount could be processed and released soon.

Aside from extending financial support to COVID-affected MSMES, the DTI has two programs other programs to help the small businesses out. First is the "Pangkabuhayan sa Pagbangon at Ginhawa (PBG), which is now given more allocation because of the pandemic.

The other one is a livelihood seeding program-"Negosyo sa serbisyo sa barangay" (NSB). Target barangays that are not reached by their "NeGOsyo Centers" with the same basic services of those being trained in basic entrepreneurship with allocation of livelihood starter kits while enacting health safety protocols.

Gabia also disclosed that their Kapatid Mentor Me (KMME) program where they have over three months of mentoring and coaching session to teach mentee's from product development, entrepreneurship, supply chain management, to taxation, was also changed into a virtual campaign, noting that their first batch of online-42 mentees will run through from July 15 until September 15.

On top of modulating their programs to fit the new normal, the DTI assists businesses to transition to the new normal by teaching them digital commerce and currency, "For now, we have an onboarding program for E-commerce where they undergo training for Gcash, digital wallets, alongside our One Town One Product (OTOP) stores like Ginama that are now making a transition to going digital and turning it into an E-store," she said. (VPSBautista/PIA10)

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