Small, medium enterprises to get more tech aid
Wednesday, March 17, 2010
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SMALL and medium enterprises (SMEs) in the region will get more technical assistance and aid from the Department of Science and Technology (DOST) this year.
DOST in Cordillera Administrative Region (DOST-CAR) regional director Ben Ladilad said their agency will reinforce more technological and manufacturing upgrades and improvement of production capacity to more small and medium enterprises.
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“Small and medium enterprises aside from the technical expertise will be given grants to upgrade their existing manufacturing equipment without interest,” Ladilad said.
Ladilad said the manufacturers who sought DOST’s grant will just be refunding through an amortized plan the seed money given to them after six months of use of equipment so that the fund will be used by other entrepreneurs who needed funding for equipment upgrading.
“The funding that we give is not a form of loan with interest but instead those who borrowed money will be given time to recoup their earnings to pay what they have borrowed,” Ladilad added.
There are six priority industries the DOST is aiding SMEs, that include the food industry, wine making industry, furniture industry, gift decors and jewelry industry, aquamarine and inland fisheries industry and the fiber industry of the region.
In addition, Ladilad said their agency also extends help to SMEs through standardization of their products through laboratory analysis to ensure product quality and safety.
“Our agency has acquired more than P40 million worth of laboratory equipment that would help aid our small manufacturers and micro entrepreneurs expand their businesses,” Ladilad added.
This year the DOST is aiming to help more than 40 companies in their technology upgrading that also includes the booming horticulture industry in the region.
In the last three years, since DOST started its technical assistance in the product development, design and manufacturing of SMEs in the region, it has already helped more than 62 companies that needed technological aid. (Jm Agreda)
