Trade Secretary Alfredo Pascual highlighted the Department of Trade and Industry’s (DTI) initiatives for women entrepreneurs during the Women Entrepreneurship Summit 2023.
With over 313,000 businesses owned or operated by women in the Philippines, Pascual acknowledged the significant contribution of women entrepreneurs to the country’s economic growth.
To support women entrepreneurs, the DTI has developed programs aimed at addressing the barriers they face in accessing funding, mentorship, and markets. These programs include Rural Agro-Industrial Partnership for Inclusive Development (RAPID) Growth Project, She Trades Philippines, and Investing in Women in Asia.
The DTI is also focused on helping women entrepreneurs embrace digital transformation as the country enters a new era of Industry 4.0 technologies. By leveraging new technologies, micro, small, and medium enterprises can reduce costs, access wider markets, and boost profitability.
DTI’s financing arm, Small Business Corporation (SBCorp), offers soft-term loans, including Bayanihan CARES program loans worth approximately PHP1 billion, and borrowing schemes such as Pondo sa Pagbabago at Pag-asenso that offer affordable interest rates and charges.
The summit also recognized 18 outstanding women entrepreneurs in various categories, such as inclusive business, young entrepreneur, woman innovator, and inspiring Filipina entrepreneur.
The event aims to promote women in innovation and technology, women in trade, inclusive businesses, and women’s leadership and human capital development, as part of Go Negosyo’s advocacy.