Summit to underscore 7 M’s for successful Asean MSMEs

RECOGNIZING the pressing challenges brought by the Association of Southeast Asian Nations (Asean) economic integration, the Provincial Micro, Small and Medium Enterprises Development (MSMED) Council of Negros Occidental is hosting a summit that will underscore seven M’s for local enterprises to become successful.

Provincial MSMED Council Chairman Mary Ann Colmenares on Wednesday, July 5, said mindset, mastery, mentoring, markets, money, machines and models are key elements tying together the four outcome portfolios for MSMEs.

These are business enabling environment, productivity and efficiency, access to market, and finance.

Colmenares said that through mentoring, for instance, productivity and efficiency of Negrense entrepreneurs are enhanced.

“This is the first MSME summit outside the national scope mainly aimed at cascading to the ground level what is actually happening in the Asean economic community,” she said, adding that with the current free trade system, there is a need to further develop local enterprises in Negros Island Region (NIR).

The first NIR MSME Summit, which is in collaboration with the Department of Trade and Industry (DTI), will be held on July 19 at SMX Convention Center in Bacolod City. It aims to gather at least 500 enterprises in the region.

The council will also invite participants from the academe, particularly graduating students who will become future entrepreneurs.

The one-day activity will include discussions on topics like overcoming mindset barriers to MSME development, mastery and mentoring toward competitiveness and resilience, accessing domestic and regional markets, overcoming money hurdles, and machines and business models toward productive and responsible MSMEs.

It will also feature stories about “Innovation in Motion: Showcasing Tech-MSMEs and Startups and the impact of Digital Trends to Entrepreneurship.”

Some officials from the DTI central office as well as those from the private sector, including the Philippine Center for Entrepreneurship, are also expected to attend the summit.

Prior to this, Colmenares said they are attending the Asean SMEs Summit at the Philippine International Convention Center in Pasay City on July 14.

“Whatever we learn from that national event, we will cascade it during the summit here,” she said, reiterating that the activity is also positioned to strengthen the public and private partnerships in the region.
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