Role of MSMEs

ones helping guide our economy. I suppose it is only fitting — and so telling of the times — that Go Negosyo marks its 17th anniversary with the two major drivers of the Philippine economy at center stage: MSMEs and OFWs,” he added.

Kabayan 2022, which has adopted the theme, “Kabuhayan, Kinabukasan at Kaagapay ng Pamilyang OFW,” will also emphasize the importance of digitalization and how it can be used by MSMEs in developing their businesses.

Popular vloggers and content creators, including Small Laude, will join the event, along with successful female Chief Executive Officers Rebecca Bustamante and Glenda dela Cruz.

Other leading content creators and social media personalities such as Macoy Dubs, Lovely Abella-Mabalo, Berto Berioso, Ana Coting, and Christian Antolin will be present.

Homegrown entrepreneurs and social media content creators who have used social media to grow their small businesses will participate in another forum to show how MSMEs can start using the platform to promote their businesses.

Participating in this forum will be Zarah Juan, Malou Prado, Jeffrey Guansing, Jacqueline Yuentian Gutierrez and Neri Miranda. Their businesses range from cosmetics to travel to agriculture, while some of them have managed to combine several businesses.

Trade Secretary Alfredo Pascual and Migrant Workers Secretary Susan “Toots” Ople are among the government officials invited to the Go Negosyo anniversary.

Leaders from the Philippine Franchise Association, Philippine Retailers Association, CARD-MRI, and MSME lending specialist Esquire Financing will also be participating in a forum on the three M’s of successful entrepreneurship: money, markets, and mentorship.

As of 2021, around 99.58 percent or 1,076,279 of the 1,090,810 total business establishments operating in the Philippines are MSMEs, according to statistics released by the Philippine Statistics Authority (PSA).

The MSMEs generated 5,461,731 jobs or 64.67 percent of the country’s total workforce, the PSA data showed.

Apart from the summit, the event will be an opportunity to recognize the Most Inspiring OFWs through Kabayan Awards 2022.

To be recognized are OFWs who inspired fellow Filipinos with their successful journey as migrant workers, OFWs who have successfully transitioned to becoming entrepreneurs, and OFWs who used social media to become influencers to the overseas Filipino community.