DTI, DOLE boost MSMEs resilience

CEBU, Philippines — The Department of Trade and Industry (DTI) and the Department of Labor and Employment (DOLE) are rolling out proactive measures to help micro, small, and medium enterprises (MSMEs) prepare for disasters and economic disruptions.

During the Kapihan sa PIA forum, DTI-7 Senior Trade and Industry Development Specialist Jello Escovilla said assessments of about 600 MSMEs affected by the 6.9-magnitude earthquake last year showed major concerns, particularly depleted working capital and inadequate disaster preparedness.

DTI provided impact assessments, price monitoring, recovery financing, and Diskwento Caravans. About 90 percent of affected MSMEs surveyed have resumed operations, while 93 businesses applied for the Small Business Corp.’s Enterprise Recovery Financing program, with around P24 million in loans approved.

DTI Cebu also launched a pilot Business Resilience Project with the University of San Carlos to help MSMEs develop comprehensive resilience plans. Five businesses are participating in the pilot.

Meanwhile, DOLE-7 Adjustment Measures Program focal person Jill Marie Duero said the agency’s proactive program provides grants of up to P1.5 million to qualified enterprises for capacity building, business enhancement, product development, and other measures.

DOLE also deployed TUPAD Tubag sa Kalamidad (TUTUK) to provide temporary employment to workers affected by disasters.

Both agencies urged MSMEs to prioritize disaster preparedness, digitalization, business formalization, skills development, and access to financing rather than wait for crises to occur. (CEBU NEWS)