MANILA, Philippines - The Department of Trade and Industry (DTI) has allotted P92.7 million for the set-up of Go Negosyo Centers which would make it easier for entrepreneurs to start and register their businesses this year.
Trade Secretary Gregory Domingo told reporters that of the P4.2-billion budget of the DTI this year, P92.7 million has been set aside for Go Negosyo Centers.
“Our target is to have 50 (Go Negosyo Centers) this year and around 200 next year,” he said.
He said the goal is to have 1,200 centers over a five-to seven-year period.
The facilities are to be put up in line with the Go Negosyo Act signed into law by President Aquino on July 15.
Domingo said the DTI would start setting up Go Negosyo Centers by converting DTI’s existing National Economic Research and Business Assistance Centers.
The Go Negosyo Centers would have the following functions: business registration assistance, business advisory services, business information and advocacy and monitoring and evaluation of business processes for micro, small and medium enterprises (MSMEs).
The facilities would be linked to the Philippine Business Registry System (PBRS) to make it easier and faster for entrepreneurs to start and register their businesses at the local level.
The PBRS is a government project that integrates the services of all agencies involved in business registration, such as the DTI, Securities and Exchange Commission, Bureau of Internal Revenue, Social Security System, Home Development Mutual Fund (Pag-IBIG), Philippine Health Insurance Corp., and other permit and license-issuing agencies to facilitate registration.
Aside from making business registration easier, the Go Negosyo Centers would provide other services to MSMEs such as technology transfer, production and management training programs as well as marketing assistance from the DTI, Department of Science and Technology, University of the Philippines - Institute for Small-Scale Industries, Cooperative Development Authority, Technical Education and Skills Development Authority and other agencies concerned.
The Go Negosyo Centers are expected to promote and support the growth of MSMEs.
The DTI is pushing for the development of MSMEs as these businesses are seen to contribute to the country’s economic growth.
Out of the country’s total registered businesses, the bulk or more than 90 percent are MSMEs.