Women dominate Phl SMEs — PCW

Women dominate Philippine small and medium enterprises (SMEs), with 66 percent being women-owned, according to the State of the Filipino Women report released by the Philippine Commission on Women (PCW) on Monday.

The PCW also noted that 62 percent of newly registered Department of Trade and Industry (DTI) businesses are owned by women.

However, challenges like digitalization, funding, and multiple burdens hinder their progress.

To address this, according to the PCW, the DTI empowers women entrepreneurs by boosting their access to capital, technology, and markets, while enhancing their skills and leadership.

Among the programs by the DTI for Filipino women is SheTrades Philippines Hub, which serves as a resource center for Filipina entrepreneurs, and RISE UP, which provided P1.66 million worth of loans to over 6,500 women entrepreneurs in 2023.

The DTI also allocated five percent of its budget to gender-focused programs and collaborates with local and international organizations to continuously drive inclusive economic opportunities for Filipina entrepreneurs and professionals.

Livelihood programs from the Department of Labor and Employment also support returning women overseas Filipino workers in starting their businesses, such as the "Balik Pinay! Balik Hanapbuhay," which helps Filipino women displaced by conflicts, victims of trafficking, and other distressed women.

Meanwhile, the Department of Social Welfare and Development supports women entrepreneurs with grants, business development, and job assistance.

"Every woman deserves safe and inclusive spaces, essential services, learning, equal voice, health, income, opportunities, and equal share in the fruits of development," PCW Chairperson Ermelita Valdeavilla stressed.

In the Packworks study, a startup company that provides a business-to-business platform, it was found that women sari-sari store owners take pride in being considered "entrepreneurs" and "business owners," providing them a sense of independence, confidence, and fulfillment from managing their micro-retail business.