DTI, SEC highlight public-private synergy in empowering SMEs
AT GrowthX, a business event hosted by financial technology company First Circle, top officials from the Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC) spotlighted the critical role of public-private partnerships in the empowerment of small and medium enterprises (SMEs).
DTI Secretary Alfredo Pascual spoke passionately about DTI’s commitment to SME development, recognizing SMEs as the engine of growth and innovation, and the importance of enabling SME access to finance.
The Trade secretary mentioned
Rise Up Multipurpose Loan and the P3 Program as some of the financing opportunities that DTI offered through Small Business Corp. (SB Corp).
Pascual brought up SME competitiveness as another focal point of DTI efforts, mentioning the Kapatid Mentor Me Program and the One Town, One Product (OTOP) Philippines Program for SME knowledge and skills development.
He also emphasized the administration’s efforts to equip SMEs for the digital revolution. He further mentioned the importance of strong private-public partnerships — such as the one DTI had with financing partner First Circle — as a way to champion SMEs’ entrepreneurial spirit.
At the same event, SEC Commissioner Bryant Fernandez echoed the vital need for support structures for SMEs.
Fernandez also acknowledged the role that private organizations such as First Circle played to enable SME innovation and expansion in a competitive global landscape, and he commended First Circle for its efforts to provide financial resources to SMEs.