Negosyo Centers reach 1,000 mark

MANILA, Philippines — The Department of Trade and Industry (DTI) has achieved a milestone as the number of Negosyo Centers to support micro, small and medium enterprises (MSMEs) in the country has hit the 1,000 mark.

Trade Secretary Ramon Lopez said in a statement this shows the DTI’s commitment to President Duterte’s push to support MSMEs and promote entrepreneurship and improve the quality of life of Filipinos. 

Of the 1,000 Negosyo Centers, 756 were put up during the current administration. 

The DTI is establishing Negosyo Centers in line with Republic Act 10644 or the Go Negosyo Act signed into law in 2014, which aims to promote job generation and inclusive growth through the development of MSMEs. 

Through the Negosyo Centers, MSMEs can avail of various services such as business registration assistance, business advisory services, micro financing and market leads. 

To celebrate the milestone, the DTI, through the different Negosyo Centers, conducted seminars and trainings related to setting up a business, marketing, financial literacy in partnership with local financing institution or partners, and advocacy campaigns on the Ease of Doing Business (EODB) law. 

Signed into law last May, the EODB is expected to help create a more conducive environment for businesses. 

The law provides a required period for government transactions to be processed. 

In particular, simple transactions should be processed within three days, complex transactions within seven days, and highly technical transactions within 20 days. 

The government is implementing various programs to support MSMEs as the sector contributes to economic growth and job generation. 

MSMEs account for more than 99 percent of total businesses in the country, and 70 percent of total employment.