DTI-7 calls on MSMEs anew to visit the Negosyo Centers

CEBU, Philippines - The Department of Trade and Industry (DTI-7) is calling once again the Micro-Small and Medium Entrepreneurs (MSMEs) to start off checking the services designed to help them at the Negosyo Centers.

In Central Visayas, Negosyo Centers are ready to serve MSMEs  at DTI Cebu Provincial Office, Bogo City Hall, DTI Negros Oriental Provincial Office;  Dumaguete City Hall, DTI Bohol Provincial Office, Tagbilaran City New Capitol Building, DTI Siquijor Provincial Office, and DTI 7 Regional Office in Cebu.

Aside from support services of business consultancy, speedy administrative processes for start-up businesses, DTI-7 is encouraging entrepreneurs to take advantage of the financial assistance aspect, empowering the local capitalists to expand their businesses, amid the entry of more foreign investors here.

DTI regional operations group head and undersecretary Zenaida C. Maglaya said that the problem of access to finance will be addressed if financial institutions and the entrepreneurs will converge in one venue. Negosyo Centers were established in order to bridge this gap.

Access to finance is one of top concerns of entrepreneurs, the center on the other hand will try to gather together the credit providers to display their respective loan packages, for the clients to choose.

 Initially, the Negosyo Centers in Cebu--both regional and provincial offices of the DTI got the commitment from some financial institutions like SB Corporation, Land Bank of the Philippines, Bank of Makati, and Bank of Philippine Islands.

DTI-7 regional director Asteria Caberte said to solve the disconnection between the entrepreneurs or MSMEs and finance institutions, both have to meet halfway.

Stationed inside the DTI and LGU offices, these centers are one-stop shops built to cater to the needs of entrepreneurs in processing requirements necessary to establish a business and in accessing information essential for their growth.

Aside from credit information, key services offered by the Negosyo Centers include; business registration assistance, including facilitate processing and documentation of paper requirements necessary for establishment of a business; business advisory services, such as  counseling to MSMEs tailored to their needs with regards to product development,  trade promotion, financing facilitation, and investment matching.

Business information and advocacy is also available at the center, including provide economic, technical, market, investments related materials and conduct trainings, seminars, dialogues and publications.

The establishment of the centers is a provision in the Go Negosyo Act (Republic Act No. 10644) authored by Philippines’ Senator Paolo Benigno “Bam” Aquino IV, and was signed into law on July 15, 2014.

Among the objectives of the RA 10644 is to promote job generation and inclusive growth through the development of MSMEs in the Philippines, promote ease of doing business and facilitate access to services for MSMEs within its jurisdiction.

RA 10644 has given DTI the key responsibility of establishing Negosyo Centers in all municipalities, cities, and provinces in the country. (FREEMAN)