Scribd
Upload
35 views2 pages

MSMEs

MSMEs make up 99.5% of business establishments in the Philippines and contribute significantly to its economy. In 2018, MSMEs generated 35.7% of the total value-added to the gross domestic product and created 5.7 million jobs or 63.2% of total employment. MSMEs are crucial for creating employment and entrepreneurship opportunities in the Philippines. They are defined based on employee size of not more than 200 employees and asset size below 100 million Philippine pesos. MSMEs help reduce poverty by providing jobs and economic growth as well as decent work for vulnerable groups, though they were negatively impacted during the COVID-19 pandemic.

Uploaded by

Jc Perez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
35 views2 pages

MSMEs

MSMEs make up 99.5% of business establishments in the Philippines and contribute significantly to its economy. In 2018, MSMEs generated 35.7% of the total value-added to the gross domestic product and created 5.7 million jobs or 63.2% of total employment. MSMEs are crucial for creating employment and entrepreneurship opportunities in the Philippines. They are defined based on employee size of not more than 200 employees and asset size below 100 million Philippine pesos. MSMEs help reduce poverty by providing jobs and economic growth as well as decent work for vulnerable groups, though they were negatively impacted during the COVID-19 pandemic.

Uploaded by

Jc Perez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

MSMEs

Philippines is one of many economies that considers MSMEs as their backbone. A total of 99.5% of
businesses establishments here in the Philippines. Department of Trade and Industry (DTI) estimated
35.7% of the total value-added or gross domestic products was contributed by MSMEs. 5.7 million jobs
or 63.2% total employment during 2018 was generated by MSMEs. The description of MSMEs are
employee size of not more than 200 employees and an asset size if below P100 million. (Congressional
Policy and Budget Research Department. 2018). MSMEs in the Philippines is crucial when it comes to
creating employment and entrepreneurship opportunities. (Kagohashi, H. 2022).
MSMEs are determined based on its total assets, provided in Republic Act No. 6977. It refers to any type
of business whether it is a single proprietorship, cooperative, partnership or corporation. Micro, small,
and medium prices vary depending on its total asset value. (P&L Law. 2020). MSMEs helps with the
reduction of poverty by creating jobs and economic growth. MSMEs provides decent jobs and
entrepreneurship for women, youth and groups in a vulnerable situation. MSMEs also had a negative
socioeconomic impact during the pandemic (Covid-19) (United Nations. 2022).

Reference:
Congressional Policy and Budget Research Department. (2020) FF2020-19: MSMES IN THE
PHILIPPINES. No. 19. https://cpbrd.congress.gov.ph/2012-06-30-13-06-51/2012-06-30-13-36-50/1195-
ff2020-19-msmes-in-the-philippines
Kagohashi, H. (2022). Re-thinking the MSME support ecosystem to build back better from the pandemic
and natural disasters. https://www.ilo.org/manila/public/sp/WCMS_846708/lang--en/index.htm
P&L Law. (2020). MICRO, SMALL AND MEDIUM ENTERPRISES: WHAT BUSINESSES ARE
CONSIDERED MSMES. https://pnl-law.com/blog/micro-small-and-medium-enterprises-what-
businesses-are-considered-msmes/
United Nations. (2022). Micro-, Small and Medium-sized Enterprises (MSMEs)
https://sdgs.un.org/topics/capacity-development/msmes

You might also like