THE trade and industry department in Davao region is pushing for the 7Ms strategy that will make micro, small and medium enterprises more competitive.
7Ms is a strategy of the Department of Trade and Industry under the Duterte administration which aims to help entrepreneurs have the right mindset and "know-how" in order to succeed in business.
7Ms stands for Mindset Change, Mastery and Competence, Mentorship, Market Access, Money, Machines, and Models of Business.
DTI Bureau of Small and Medium Enterprise Development Director Jerry Clavesillas said the effects of the proper application of the 7Ms are crucial in uplifting the MSMEs.
Clavesillas spoke with participants of the Davao Region MSME conference held Thursday, July 27 at the Marco Polo Hotel.
The 2nd week of July is celebrated as the MSME week in the Philippines and just recently, June 27 was declared World MSME Day. In relation to that, an Association of East Asian Nations (Asean) MSME Summit was held in Manila last July 14.
In his presentation, Clavesillas said DTI is currently ushering and mentoring MSMEs towards the Asean level, which exactly was discussed during the Asean MSME Summit in Manila dubbed as Manila Call to Action.
Included under the mindset, mastery, and monitoring aspect is DTI’s proposal of integrating entrepreneurship values and skills in the educational system in all levels.
It also support and pursue the Asean Mentorship for Entrepreneurs Network (AMEN) initiative, the purpose of which is to facilitate scaling-up of micro and small enterprises through active mentorship.
Clavesillas cited as an example the convergence that DTI and Technical Education and Skills Development Authority (Tesda) have in order to help unemployed Tesda trainees to use their acquired skills in putting up a business through the assistance of DTI Negosyo Centers.
“DTI has shared service facility so those association that do not have facilities and gadgets yet, they are provided with the equipment. After two years, if they can prove that their operation is successful, the ownership is transferred to the association and not anymore to DTI,” Clavesillas said.
He also underscored the importance of the MSMEs being compliant of the business registration and clearances in order to be able to cater to a wider market, not only in the Philippines but abroad as well. He cited as an example that small business in Thailand are all certified already by their government.
“If we are not compliant, we do not have market. Even your neighbor will not buy anymore from you because you do not have registration or label on what chemical you used, for example,” he said.
Clavesillas said it is important that the MSMEs invest on innovation to be able to keep up with the competition with the other Asean countries.
“Their (other Asian countries) government invest on young entrepreneurs and start-ups, those who really think of new ways that will facilitate the competitiveness of their MSMEs. If you look at their products, it’s almost the same products that we produce here in the Philippines but they are using state-of-the-art technologies and systems,” he said.