SMEs find allies for inclusive growth
Filipino entrepreneurs can now look forward to a more progressive journey toward financial empowerment with the successful creation of the Department of Information and Communications Technology (DICT).
With technology playing such a big part in the lives of millions of Filipinos these days, the DICT will be highly instrumental in laying down the groundwork for the Filipino entrepreneurs foray into global e-commerce.
The long- standing relationship between the public and the private sectors are expected to be strengthened further as both parties will play significant roles in advancing the interest of the Filipinos in the digital age.
In a recent interview, DICT Secretary Rodolfo Salalima noted that “the ICT industry is fast becoming the country’s top dollar earner.” “Its capacity to generate jobs is projected to surpass the big dollar remittances of OFWs to the Philippines,” Salalima said.
ICT evolution
The DICT’s first objective, as mandated by President Duterte during his first State of the Nation address, is to develop the country’s “national broadband plan” to accelerate broadband deployment across the nation. This, thought leaders believe, would greatly help Filipino SMEs confidently take the jump onto the digital platform. For Filipino entrepreneurs, it is seen to complement the implementation of key initiatives geared toward pursuit of the Department of Trade and Industry’s 2020 e-commerce roadmap.
Genaro V. Lapez, executive vice president of Union-Bank of the Philippines, who is also the chief advocate of the UREKA Forum – the Philippines’ most comprehensive e-commerce mass conversion movement – welcomed this development.
“The creation of the DICT is a huge step forward toward realizing this goal, but the real success of this endeavor will also need the all-out support of stakeholders from the private sector,” Lapez said.
Lapez said “obviously, a lot of work needs to be done to radically improve our Internet infrastructure and put the Philippines at par with the best in region, if not in the world.”
The partnership between government and the private sector is the catalyst for change the SMEs are looking for, as this allows more Filipino entrepreneurs to gain access to more efficient tools they need to enjoy a rewarding e-commerce journey.
Inclusive future
“Technology is a great leveller in the development of business sector as it opens up growth opportunities for entrepreneurs who would not have enjoyed the same opportunity of bringing their businesses to the consciousness of more potential customers,” Lapez said.
The Philippines ranks 16th globally in terms of number of internet users. However, despite being tagged as one of Southeast Asia’s “hottest e-commerce markets,” the Philippines has yet to fully utilize e-commerce as a unique business edge and a significant economic growth contributor.
Unfortunately, only one percent of Filipino SMEs have a working website despite the fact that they comprise over 95 percent of all registered businesses in the country and employ 62 percent of the labor force.
Innovations, indeed, play a big role in the DICT’s development plans aimed at enabling more businesses to engage the rest of the country and the world via technology and e- commerce. Having a governing body dedicated to all things technology can help make the e-commerce a more efficient and rewarding platform for both the Filipino businessman and consumer.
E- commerce advocates like the UREKA Forum and its members hope the DICT can finally provide a lasting solution and empower the entire business value chain to go beyond their growth potential. By making technology and the internet as key competitive advantages of for every local enterprise and consumer, Filipinos from all walks life are slowly making e-commerce as the Philippines’ next biggest economic success story.