Digital shift necessary in keeping MSMEs’ progress

The pandemic has highlighted the importance of integrating digital technology and sustainability


September 13, 2022

The government urged franchisers to lead in the ecological transformation and in embracing sustainable business practices, Finance Secretary Benjamin Diokno said.

Diokno urged franchisers to lead the charge in greening and transforming the country’s business sector by mainstreaming digitalization and embracing sustainable business practices.

“I call on you, as industry leaders and business operators, to transform the business landscape, beginning with your place of work. Mainstream the use of digital technology by digitalizing core business processes. Train and equip your workforce to become digitally-empowered employees, managers, and leaders,” Finance Secretary Benjamin Diokno said.

At the general membership meeting of the Philippine Franchise Association, the secretary said the pandemic has highlighted the importance of integrating digital technology and sustainability to ensure businesses remain viable and competitive amid an unpredictable global business climate.

Boon to MSMEs

Diokno described how franchising contributes to the expansion of micro, small and medium enterprises.

Comprising more than 99 percent of all local businesses, MSMEs are the country’s primary employers, generating a total of 5.3 million jobs or 62.66 percent of the country’s total employment.

The secretary said that the growth of the franchise sector can bring dynamism to local supply chains, given the country’s large consumer market.

Besides enhancing work efficiencies and improving the ease of doing business in the country, digitalization is also seen to sharpen MSME competitiveness in global trade by broadening their access to international value chains.

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