“The economy’s growth should not exclusively benefit big businesses but development should lead to micro businesses becoming small, the small turning to medium, and the medium into large companies,” Go Negosyo founder Joey Concepcion said as he addressed the thousands of MSMEs gathered last 13 July at the Music Hall of SM Mall of Asia in Pasay City for the 2024 National MSME Summit.

Concepcion joined Trade and Industry Secretary Alfredo Pascual, DTI Undersecretary for MSME Development Group Cris Roque, DICT Undersecretary Jocelle Batapa Sigue, along with SM’s Tessie Sy Coson, Angkas CEO George Royeca, Philippine Chamber of Commerce and Industry president Nina Mangio, SB Corp president Robert Bastillo, Esquire Financing CEO Raj Uttamchandani, and other top executives in the day-long event.

“Private sector can provide great access to MSMEs because they have the spaces where the people tend to go. Big business’s role as successful entrepreneurs themselves is to help MSMEs uplift their lives,” Concepcion said.

He pointed out how companies like SM provide the venue for events such as the MSME Summit.

During the event, participants were also given insights by lending platforms into how to better access financing, as well as how to use social media platforms like TikTok Shop’s Shoppertainment format to promote their businesses by seamlessly integrating content and commerce.

Partnership required

Private sector, however, cannot do it alone. “The partnership between the DTI and Go Negosyo has achieved more success in helping our MSMEs,” Concepcion said.

During the event, Pascual presented several initiatives which embody the DTI’s commitment to empowering Philippine MSMEs that promise to boost productivity and reach new markets.