Legarda Proposes Bill to Streamline MSME Support
MANILA, Philippines – In celebration of Micro, Small, and Medium Enterprises (MSME) Month this July, Senator Loren Legarda introduced the proposed Pangkabuhayan Act. This bill aims to simplify access to government financing and livelihood programs by leveraging technology and innovation to encourage more Filipinos to start their own businesses and help existing ones grow.
“The future of MSMEs is anchored on our ability to innovate. By simplifying and strengthening support systems, and taking advantage of technology, we provide more opportunities for Filipinos to start and sustain businesses, we nurture an efficient and competitive economic environment, and we promote sustainable and inclusive growth,” Legarda said.
Centralized Support Hubs for MSMEs
The Pangkabuhayan Act proposes the creation of Sustainable Livelihood and Entrepreneurial Development Centers (SLEDs) in every rural municipality. These centers will serve as one-stop hubs offering training, business registration, technical support, and access to financial assistance and other services. Priority will be given to the most economically challenged areas.
Legarda emphasized the vulnerability of MSMEs compared to larger companies, noting how economic shifts can significantly impact their ability to hire and expand. “I hope that the passage of the proposed Pangkabuhayan Act will create mechanisms to reduce red tape and regulatory barriers for starting or expanding MSME ventures. With its strong alignment with the objectives of the Philippine Innovation Act, the proposed legislation will also ensure that MSMEs will gain access to digital transformation,” she added.
Empowering MSMEs Through Technology and Innovation
By integrating technology into MSME support systems, the bill envisions more efficient and accessible services. This will enable entrepreneurs to navigate business processes more easily and tap into government programs designed to foster growth.
“With this proposed legislation, we aim that MSMEs will not just be recipients of aid, but will also be enablers of socio-economic empowerment, creative growth and global competitiveness,” Legarda concluded.
MSMEs: Backbone of Philippine Economy
Micro, Small, and Medium Enterprises represent 99.5% of all businesses in the Philippines and provide employment to over 63% of the workforce. Senator Legarda, the principal sponsor of the Magna Carta for MSMEs and the Philippine Innovation Act, has long highlighted their critical role in job creation and poverty alleviation nationwide.
Local leaders noted that easing access to support services and embracing digital tools could significantly boost MSME resilience and competitiveness. The proposed bill’s focus on rural areas aims to uplift the most vulnerable economies while fostering inclusive growth.
For more news and updates on MSME support, visit Filipinokami.com.
