City seeks support for small businesses-A A +A
Sunday, February 16, 2014
THE Cebu City Council wants the Department of Manpower Development and Placement (DMDP) and the committee on livelihood to study strategies that will empower and strengthen the micro, small and medium enterprises (MSME) operating in the city.
Councilor Alvin Dizon, in a resolution filed and approved by the council last month, said the move will help facilitate easier access to different funding institutions so establishments considered as MSMEs can avail themselves of additional capital for their businesses.
Dizon cited Paul Vandenberg of the International Labor Organization as saying there is increasing recognition that private sector development has an important role to play in poverty reduction.
The private sector, including small enterprises, creates and sustains employment.
He said small enterprise development contributes to poverty reduction when it creates employment either through the startup of new enterprises or the expansion of existing enterprises.
Job creation provides income for the poor, said Dizon’s resolution.
Dizon said empowering and strengthening MSMEs will help the city in job creation and poverty alleviation.
Dizon said that considering the potential of MSME as a key strategy for poverty reduction, the Senate also passed Bill No. 2046 or the “Go Negosyo Act of 2013.”
The act aims to foster national development and promote inclusive growth and reduce poverty.
Dizon also encouraged other business groups to help the city by providing the strategies to strengthen MSMEs.
Published in the Sun.Star Cebu newspaper on February 17, 2014.