NextGen Day

Micro, small, and medium-sized enterprises (MSMEs) are the backbone of the Cordillera Administrative Region (CAR) economy, accounting for 75.6% of all regional jobs.

Lito Pagaduan, a statistician with the Philippine Statistics Authority (PSA)-CAR, stated in a news conference on Tuesday that 80,527 out of the 106,503 registered employees were employed by 22,493 firms in the MSME sector last year.

According to Pagaduan, MSMEs, or companies with a capitalization of less than PHP15 million, generated 88,753 new jobs in 2018.

According to him, in 2021, there would be 25,976 large firms, or 24.40 percent of all employment.

According to earlier data, mining enterprises and businesses with economic zone locations are the biggest employers in the area.

According to Juliet Lucas, regional director for the Department of Trade and Industry (DTI)-CAR, jobs were created due to a change from the conventional manner of doing business because the pandemic affected all firms, whether MSMEs or huge corporations.

“New jobs and opportunities were generated,” she said, “even though there is a decline in the number of people needed due to low demand and the relocation of marketing and promotion operations to digital.”

In addition to the logistical processes or the “transporters,” Lucas said that the “pandemic style of doing business” also produced data analysts.

She said that the DTI and other government organizations had worked together to boost efforts for the MSME sector, which is thought to be a significant economic driver.

“In addition to the money that is infused to “prime the pump,” we conduct training, and TESDA (Technical Education and Skills Development Authority) upskills or gives workers new skills, she continued.

According to Lucas, MSMEs are mainstreamed and helped in terms of their products’ caliber and readiness for funding.

“At the height of the pandemic, we provide coaching models, product development, and even toolkits, “She spoke.

According to Lucas, of the more than 25,000 MSMEs that their office supports, nearly 80% have incorporated a digital platform into their operations.

“The pandemic altered the public’s purchasing habits, and businesses must adapt. We should view digitization as a way to increase employment prospects rather than as a threat to jobs, “Added she.

Last week, the National Economic Development Authority stated that jobs created by MSMEs lead the region to a better footing with a 6.9 percent poverty incidence in 2022 despite the pandemic during the regional poverty dissemination of the 2021 full-year poverty statistics.

According to the report, the region’s poverty rate this year is lower than in 2015 and 2018 (8.6 percent vs. 17.1 percent).

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