President Ferdinand "Bongbong" Marcos Jr. is 100-percent correct in saying at the recent Micro, Small and Medium Enterprises Summit 2023 that MSMEs are key to a more prosperous economy. His administration considers them the backbone of the country.

Take a look at this:

1) Leon Alcedo, a summa cum laude graduate of Fordham University, Class 2022, New York City, USA;

2) Maxine Alcedo, magna cum laude at the University of the Philippines, BS Business Economics, Class 2023; and

3) Dr. Napoleon Alcedo Jr., father of Leon and Maxine, examiner, Philippine Board of Surgery, 2001-present; Doctor of Medicine, University of the East Ramon Magsaysay Medical Center; chairperson, Department of Surgery, UERMMMC 2012-2016, and Medical Director of UERMMM.

The above three achievers belong to the family of my uncle, Julian Baguio or Tay Julian, and my aunt, Ulalia Vllariña Baguio or Mama Ulay, whose only means of livelihood was the humblest form of MSME in the late 1930s up to 1980s — selling tobacco, betel leaf, betel nut and lime. 

Betel nut is wrapped in betel leaves, mixed with lime and tobacco mascada, to make up the complete combination of a lucrative business of men and women of long ago who went from one market to another to sell these items.

And because they did this so well and so often, they developed their sukis or loyal buyers of longstanding. They called each other "kuya" and "ate," said with a smile to win lots of friends and customers.

Tay Julian and Mama Ulay, ever faithful to each other, loving and living honest and decent lives through the years, selling tobacco, betel nut, betel leaves, lime and tobacco mascara and many other things, were able to raise four children — the first was Abundio or Mano Bunding, who became an engineer; followed by Fernando or Mano Nanding, a lawyer; third was Maria or Nang Meling, a nurse; and finally, Jose or Joe, a dentist.

In those days, a couple who engaged in a micro-small business and in the process graduated four professionals in the family was something to behold and respect.

How many more Tay Julians and Mama Ulays do we have? Let us hope and pray that there are many more who will engage in micro, small, medium and large businesses that will train a workforce of 24-25 years of age to achieve what the leaders of this country pledged to the people when they took their oath of office.

MSMEs make up 99.5 percent of businesses in the country, provide 63 percent of employment, and contribute about 40 percent of the country's gross domestic product or GDP.

The contribution of MSMEs to the national economy is far bigger than that of the overseas Filipino workers or OFWs.

According to Bangko Sentral ng Pilipinas data, OFW remittances reached $36.14 billion. Money remitted by Filipinos from all over the world accounts for at least 10 percent of the country's GDP.

What is considered an MSME? The Philippines uses two criteria to define MSMEs, namely, employment and asset size.

The Philippine Statistics Authority classifies an enterprise a micro business if it has less than 10 employees, small if it has 10-99 employees, medium with 100-199 employees, and large with 200 or more employees.

Do cities participate in the MSME activities of the government to strengthen the Philippine economy? Yes, absolutely. In our next column, we will show how two resurging cities along Manila Bay are leading the way in the national effort.

(To be continued)