The Department of Trade and Industry provided three small and medium enterprises (SMEs) in Misamis Oriental with facilities and equipment to further increase production capabilities and aid SMEs in the area.
A part of their shared services facilities (SSF) program, the agency said that the three are only a part of the 10 businesses in the area to receive facilities.
The three facilities was given to three businesses in sectors of bamboo furniture-making, abaca and banana chips production to establish processing of bamboo nodes and poles, as well as in coconut waste products to develop production and weaving of coconut twines.
Meanwhile, three of these SSF projects in Misamis Occidental included the Establishment of Bamboo Nodes in District I worth P277,000, and the Establishment of Bamboo Poles in District 2 worth P357,000, both of the Petals Foundation, Inc., which is into bamboo furniture-making, and abaca and banana chips production.
The other one is the Establishment of a Coconut Twine and Weaving worth P998,000, of the Tudela Government Employees Organization (TUGEMO) which is into the development of coconut waste products like coco coir, among others.
The three facilities cost more or less P1.6 million, but according to the Provincial Director Delia Ayano of DTI, P40 million was allocated for Northern Mindanao, which is expected “to answer SME’s needs for additional machinery and equipment to expand their business.”
For this year, the DTI allotted P700 million for the SSF project, having the highest budget of all projects of the agency, which will be used in “buying machinery and equipment for common use of beneficiaries, not only to improve the quality but also the volume of their production.”
The micro, small and medium businesses are the only ones qualified to request and avail these facilities: Micro businesses with assets not exceeding P3 million, small businesses not above P15 million, and medium businesses not exceeding P100 million.
Industries eligible to avail SSFs include raw materials supply chain; processed tropical fruits; processed fish or marine products; leveraging industries supply chain; support industries; and other agri-based industries
“The SSF is open only to cooperatives, foundations and groups that are considered SMEs and not to particular individuals,” Ayano said.