Now’s the best time to start your own business, Dominguez says
Government support for micro, small and medium enterprises (MSMEs) is stronger than ever.
Finance Secretary Carlos Dominguez III encouraged more Filipinos to set up their own businesses and take advantage of the available opportunities for them to grow.
The Cabinet official proudly shared that government banks have extended a cumulative P81 billion in MSME loans over the first nine months of 2017, helping more entrepreneurs to expand.
The Land Bank of the Philippines has granted P71 billion loans to small businesses between January to September, while the Development Bank of the Philippines has extended a total of P11.6 billion as of end-October.
“This is an exciting time to be an . The reforms are shifting government to the role and enabler rather than hindrance to business. The economy is rapidly expanding. Regionalization is progressing at a breathtaking pace,” Dominguez said during the Deliscents Business Forum.
Reforms in business laws and regulations are also underway to make it easier for small firms to prosper, Dominguez said. Stay tuned!