DTI to conduct more entrepreneurship training

MANILA, Philippines - The Department of Trade and Industry (DTI) vowed to conduct more entrepreneurship trainings to help displaced workers, out of school youths and new entrants to the job market who are having a difficult time looking for employment to get a source of livelihood.

Trade Undersecretary Merly Cruz said they have intensified their training programs to accommodate more people.

Likewise, she said the result of the recently concluded entrepreneurship program last January is encouraging because two percent of those who attended the seminar said they would like to join the value chain as a supplier.

“Maybe in the next few years, these people will be able to grow their businesses,” Cruz said. Cruz said, the crisis is forcing people to look for opportunities and alternatives.

In fact in order to encourage people to open their own businesses, the DTI has reduced business name registration fee by half.

DTI has reduced the fee for all those applying for a new business name or renewing an existing business name to promote the opening of new enterprises and to encourage the business activities and generate employment.

“It’s time to adopt an entrepreneurial mindset and move to further assist micro, small and medium enterprises (MSMEs) in expanding their businesses,” Trade Secretary Peter B. Favila said.

Favila said the reduction in fees is also meant to encourage business activities and generate local employment. With the move, all those applying for a new business name or renewing an existing business name shall be charged a registration fee of P150, 50 percent less than the original P300 fee.

DTI said applicants must register immediately because the discount is only effective for six months.

Likewise, Favila announced that the DTI is mobilizing all its bureaus and attached agencies to provide livelihood assistance to Filipinos who will be displaced by the current global financial crisis.