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Typhoon halts observance of MSME Development Week

The observance of this year’s MSME Development Week was halted by the onset of typhoon devastation. Some activities were re-scheduled for the coming weeks.
By Renz Lyndon Paguio |
Typhoon halts observance of MSME Development Week

To increase awareness for the continuous efforts of the Micro, Small, and Medium enterprises (MSMEs), the nation observes small business development week in the second week of July. This is in accordance with the Republic Act (R.A.) No. 9501, also known as the ‘Magna Carta for MSMEs’.

Under Section 16, the second week of July of every year shall be the MSMEs week “in order to institute continuing awareness of the primacy of small business in nation-building and in people empowerment, and to celebrate and espouse the firm commitment of the State in the promotion, growth, and development of small businesses.”

The R.A. aims to promote the efforts of the government to assist and develop the MSMEs. These enterprises, according to the government, have very high potential to alleviate some of the lingering problems in the country’s high unemployment rate and slow economic growth. With the enactment of the R.A., promoting and supporting entrepreneurs, and encouraging the establishment of MSMEs have been a task that is consistently being undertaken by the government.

In celebration of the week, the MSME Development Council, along with the Department of Trade and Industry and the Small Businesses Corporation, teamed up to organize various activities and events. Unfortunately, the second week of the month was marked by preparations as well as recovery from the devastation of a strong typhoon that affected most of the country. Many of the scheduled activities were postponed.

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