THERE'S room to grow for the country’s micro, small and medium enterprises (MSMEs). While MSMEs employ more than two-thirds of the labor force and compose at least 99 percent of all registered businesses, their share of domestic output amounts to only about 36 percent.
As this year’s chair of the Association of Southeast Asian Nations (ASEAN), the Philippines wants to highlight programs that will “champion the inclusion of MSMEs in international trade,” Trade and Industry Ramon Lopez recently said.
On the agenda for this year’s ASEAN meetings are three strategic measures focused on growing MSMEs: (1) increasing trade and investment; (2) integrating MSMEs in the digital economy; and (3) developing an innovation-driven economy.
Under Republic Act 9178, micro enterprises are those with P3 million or less in capital. Small enterprises are those with P3 to P15 million, while those with P15 to P100 million are considered medium enterprises.
SMEs, however, need to manage their operations better in order to compete and grow into large enterprises. Most SMEs supply parts and services of electronics, automotive, machinery, garments and food industries.
A seminar next weekend in Cebu seeks to assist SMEs, most of which are family-owned businesses, by sharing insights on how they can manage their operations better.
As part of family business advisor Enrique Soriano III’s advocacy to help SMEs, Octopus Branding, is organizing a half-day seminar, “Creating a World-Class SME: Family Business Governance is Key” on Feb. 18, 2017.
This will take place from 1 to 5 p.m. in the Cebu Parklane International Hotel. A special rate of P2,500 per participant is being offered. Group discounts await participating families with representatives from the first to third generations and beyond.
Professor Soriano has written two books on family business and is also a professor of marketing at the Ateneo Graduate School of Business. He is currently executive director of Wong+Bernstein Advisory Group in Manila and Cebu.
The guest speaker is Professor Danny Wong, Wong+Bernstein Advisory Cebu managing director. After earning his BSBA from the University of California, Los Angeles and his MBA from the University of San Francisco, Wong spent 22 years in a family-owned business. To reserve sats, call Cherryl/Pauline, (02) 556-9707/0915-910-8686/0917-8947635 or email email@example.com.(PR)