Senator Loren Legarda is urging for increased support to bolster the country’s micro, small, and medium enterprises (MSMEs), recognizing their pivotal role as the “vital backbone” of the economy.
Citing recent data from the Philippine Statistics Authority, Legarda emphasizes the importance of promoting and simplifying procedures to encourage more Filipinos to venture into entrepreneurship and start their own businesses.
In a statement, she emphasized the significance of MSMEs in sustaining the nation’s economy, as they often kickstart the cash flow in the country. Moreover, Legarda believes that MSME programs offer a valuable opportunity for Filipinos to elevate themselves from poverty through legitimate means.
She stressed the need for accessibility, ensuring that individuals have the means to improve their economic standing, as increased spending power will contribute to the continuous growth of the economy.