Go Negosyo chairperson Joey Concepcion has urged micro, small and medium enterprises to continue embracing digitization as it is now the new way of life in the new normal.
“The explosion of e-wallets such as GCash and Maya has started digitization, that’s why a lot of MSME are using these in receiving payments from their sales over Lazada, Shopee. It stepped up the level of connectivity. If the pandemic did not happen, the transition will not be that fast toward digitization,” Concepcion said during Daily Tribune television program Gising Na!
“That’s the reason why many MSMEs are diving into online shopping platforms. Aside from that, merchants are now utilizing social media such as TikTok and Facebook to sell their products,” he added.
Fintech leader GCash said it now has over 60 million registered users nationwide, marking a milestone with most of the country’s adult population using the popular e-wallet service.
At the same time, GCash now boasts of more than five million merchants and social sellers accepting digital money transfers or payments.
Concepcion said Go Negosyo, in partnership with the Department of Trade and Industry, will continue to mentor MSMEs on how to put up their businesses and market them using online selling platforms.
Recently, the 17-year-old Go Negosyo has relaunched 3M on Wheels to continue its mission of giving MSMEs access to business opportunities.
“We must expand it to the wider framework of money, market, and mentorship — completing the three Ms that we believe are essential in growing small businesses. The 3Ms reflect its overarching mission of providing not just mentorship, but also access to capital and markets,” he added.
The 3M on Wheels on select malls ushers 12 sessions of mentoring for budding entrepreneurs which include coaching on how to start their business using online platforms.
About 99 percent of entrepreneurs in the country are MSMEs that provide 62 percent of jobs of the Philippines’ total workforce while the one percent are those considered huge enterprises.
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