PCCI to raise P1 billion for MSMEs

MANILA, Philippines - The Philippine Chamber of Commerce and Industry (PCCI) will raise P1 billion for micro, small and medium sized enterprises (MSMEs).

In an interview with The Star, PCCI vice chairman Sergio Ortiz-Luis said the PCCI will raise P1 billion for MSMEs under the Business Matrix Program.

The Small Business Corp., on the other hand, will put up P100 million for SMEs.

Big businesses led by the Ayala Group, San Miguel Purefoods Co., SM Retail and the Philippine Long Distance Telecommunications Co. (PLDT) have pledged support for the micro, small and medium sized enterprises (MSMEs) by being ‘big brothers.’

Under the program, big companies pledged participation in the Business Matrix, a marketing and financing network that would open their markets and resources to MSMES.

Other ‘big brothers’ were JG Summit, Smart Telecommunications, Pure Gold Price Club, MegaWorld Corp., Metro Gaisano, Phil Seven Corp., Zest-O Corp. and Waltermart Supermarket Inc..

Aside from the assured market, the MSMEs that will be participating in the matrix will have access to financing. Banks will be able to lend money to them without the necessary provision. Normally, banks are required to have a minimum deposit level that is a percentage of their money at hand. This provides the necessary protection so that not all the money is being lent.

The program will provide a computerized database of buyers, suppliers, manufacturers and service providers who are in the business of sub-contracting their operations or sourcing their supply input requirements.

It will likewise provide a market by sourcing purchase orders from buyers that will be matched with suppliers and producers meeting specifications.

The program will also provide information to buyers and assist them in expanding their sources of raw materials, supplies and inputs from accredited members of the matrix.

It will provide access to financing by endorsing qualified members to the Small Business Corp. and participating financial institutions.

The PCCI will also organize buyer-seller meetings and trade fairs and link the MSMEs with institutions that provide technical assistance, training and other support services.