’Go Negosyo’ bill seen to spur grass roots devt

MANILA, Philippines - Sen. Bam Aquino said yesterday that the proposed “Go Negosyo Bill” he introduced is expected to generate job opportunities that will spur economic development at the grassroots level.

Speaking to reporters during the weekly Kapihan sa Diamond Hotel news forum in Manila the senator said the micro, small, and medium enterprises (MSMEs) sector is essential and should be given enough attention as it comprises 99 percent of all businesses in the Philippines and accounts for at least 66 percent of all jobs in the labor force.

“The numbers show that boosting the MSME sector will help us create more decent, sustainable jobs that can lift many Filipinos out of poverty,” Aquino said.

The Go Negosyo Bill (SB 2046) is designed to update two existing laws: the Magna Carta for MSMEs and the BMBE Law.

Aquino said the proposed measure strengthens the Magna Carta for MSMEs by establishing Negosyo Centers supervised by DTI in each city and municipality as a hub for MSME registration and development.

The senator said Negosyo Center can also boost the development of MSMEs, by providing information for training, financing, and marketing; creating mentoring programs with the help of private institutions and local chambers; and opening access to grants and other forms of financial assistance.

The latest figures show that 12.1 million or 27.5 percent of Filipinos are unemployed, the highest since August 2011 when the number reached 29.4 percent.

“There is an urgent need to create more jobs in the country. One way to do it is to make it easier for businesses to start up and succeed – which this bill will enable,” Aquino said.

The lawmaker believes that by facilitating ease of doing business, potential investors and would-be entrepreneurs will be encouraged to put up their own businesses and boost hiring around the country.

Aquino said if enacted into law, the measure will be the first inclusive growth-related act approved by the 16th Congress.