'Go Lokal!' to give 360-degree assistance to MSMEs

Sherry Tadeja
PUBLISHED July 13, 2018 03:49 pm
Photo by Sherry Tadeja/Inside Manila

(Inside Manila) In order to continue its goal of assisting local micro, small and medium enterprises to penetrate the current market the Department of Industry (DTI) assures that the agency can give financial assistance if needed.



Department of Trade and Industry (DTI) Secretary Ramon M. Lopez talks about the latest "Go Lokal!" collection


During the launch of the "Go Lokal!" souvenir collection, DTI Secretary Ramon M. Lopez shared that the trade department envisions assisting MSMEs financially. The assistance would also prevent other starting enterprises to head straight to the informal "5-6" lending scheme.


"So, you are categorized as a medium scale producer and you'll get access to lower interest rate fund. Hindi na siya micro-financing rate kasi ang microfinancing rate they're still in the 20s—20% kasi ano yan eh higher operating costs and a lot of people to disperse and collect. So 20% is a difficult interest," Lopez said.


The "Go Lokal!" is one of several initiatives of the department to add more MSMEs to the mainstream market.


"Big difference in this program. We try to provide that 360 degrees support; market access, finance, equipment, training, and then more," he added.


By this assistance, the department aims to improve the livelihood MSMEs and give them a chance to be a success story in today's market.


"Hopefully our way to really give better chances to micro SMEs to really 'up' their lives and to become more prosperous Filipinos and as our President says "More comfortable life to all of you,"

RELATED ARTICLE

BUSINESS

These Popular Local Shops We Love Started in Pop-up Bazaars

There’s no risk-taking quite like owning a business.