Trade chief seeks bigger budget to empower MSMEs

By Tracy Cabrera

In a renewed push to boost the country’s micro, small, and medium enterprises (MSMEs), Trade Secretary Maria Cristina Roque is urging lawmakers to approve a higher budget for government loan programs designed to provide accessible, low-interest capital for small businesses.

Roque’s call comes on the heels of President Ferdinand “Bongbong” Marcos Jr.’s recent State of the Nation Address, where he reaffirmed his administration’s commitment to helping MSMEs thrive by expanding access to financing.

“Actually, napakaimportante po ang puhunan sa isang MSME or isang micro enterprise,” Roque said. “Most of them already have products, but they cannot promote them because they lack capital.”

According to Roque, the Department of Trade and Industry (DTI) is finalizing a funding proposal of about Php10 billion to sustain and grow loan programs targeted at micro enterprises—the backbone of local economic activity.

“But we can go higher,” she added. “There’s really a push from the President to provide capital. MSMEs, especially micro businesses, cannot remain small. They need to grow, and we need to help them do that.”

Roque emphasized that MSMEs make up 99.5% of all local businesses and employ about 62% of the country’s workforce—underscoring their critical role in driving inclusive economic development.

With more funding, the trade chief believes that micro businesses can scale up, compete better, and play a bigger role in national recovery. “We’re making sure the support is there—because when MSMEs grow, the economy follows.”