Bicam approves Go Negosyo Act boosting micro-enterprises

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Thursday, June 12, 2014


THE Go Negosyo Act is now closer to becoming a law after it hurdled the bicameral conference committee.

The Go Negosyo Act if signed into law will give small businessmen – micro, small and medium enterprises (MSMEs) a much needed boost that will lead to job creation in different parts of the country, Aquino said.

The Act mandates the creation of Pinoy Negosyo Centers, under the Department of Trade and Industry (DTI), in each city and municipality around the country.

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These Pinoy Negosyo centers, Aquino said, are meant to make it easier for entrepreneurs to register and start up their businesses, as well as gain access to sources of financing.

In addition, the Pinoy Negosyo Centers will provide courses and development programs, training, give advice on business conceptualization and feasibility, financing, management, capability building, human resources, marketing and other support services.

The Senate ratified the bicameral conference committee report on the Go Negosyo Act on the last day of session

It will be transmitted to Malacanang for President Benigno Aquino III's approval.

Senator Aquino stressed the importance of the Go Negosyo Act, saying 66 percent of jobs in the labor force are generated by the MSME sector, which in turn comprises 99 percent of all enterprises in the Philippines.

"The Go Negosyo Act gives Filipinos – from a simple housewife to ordinary employee – a chance to establish their own business that will help sustain their everyday needs and for their families," the senator said. (Camille P. Balagtas/Sunnex)

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