Philippine Chamber of Commerce and Industry president Emeritus George Barcelon has commended the government’s plan to provide financial assistance to employees of small businesses.
Barcelon said small businesses need government assistance as the enhanced community quarantine forced them to shut down their operations.
During the public address of President Duterte Monday night, the Department of Finance proposed a P51-billion aid to small businesses’ workers.
“This is a big help to MSEs (micro and small enterprises). They’ve been closed down for a month already and their financial resources now are tight,” Barcelon said.
PCCI has submitted its proposal to the government in providing assistance to MSEs, such as leveraging on disruptive technologies and giving flexible arrangements on loans.
DF Undersecretary Karl Kendrick Chua said there were 436,000 out of 1.6 million small businesses that were forced to halt their operations due to the community quarantine that started last March 15.
Chua said about 1 million small businesses are operating on skeletal workforce while 117,000 establishments were included by the government in the essential businesses that were allowed to operate during the quarantine period.