The Department of Trade and Industry (DTI) is backing the passage of the Go Negosyo Act of 2013 which was recently approved by the Senate on third and final reading.
The proposed law, sponsored by Sen. Paolo Benigno “Bam” Aquino 4th, aims to boost the development of micro, small and medium enterprises (MSMEs) in the country.
“As stated in the Act, the Department accepts the key responsibility and challenge to establish the Go Negosyo Centers and the Philippine Business Registry Databank [PBRD] in all cities and municipalities in the country,” Trade and Industry Secretary Gregory Domingo said on Thursday.
He said the Department of Trade and Industry (DTI) is optimistic that it can manage the Go Negosyo Centers and PBRD to support the development of MSMEs in the country.
“In fact, we already started to prepare the formation of model business resource centers (BRCs) that will typify the envisioned functions of the Go Negosyo Centers.
These model BRCs will help us gather experiences and prepare a strategic plan to fully implement this program,” Domingo added.
As soon as the sites for the BRCs are selected, the centers will be linked to the Philippine Business Registry System (PBRS) to make it easier and faster for entrepreneurs to start and register their businesses at the local level.
The PBRS integrates the license-issuing services of all agencies involved in business registration, such as the DTI, Securities and Exchange Commission, Bureau of Internal Revenue, Social Security System, Pag-IBIG Fund, Philippine Health Insurance Corp., and other permit and license-issuing agencies.
The country’s MSMEs account for more than 99 percent of all business establishments in the Philippines. They also provide 66 percent of total employment in the private sector.
From 2008 to 2011, the number of MSMEs in the country grew by 8 percent, from 758,436 enterprises to 816,759 and generated about 500,000 jobs.
“We are positive that the enactment of the Go Negosyo Act will help attract more Filipinos to engage in business and make it much easier to do business in the country, especially for MSMEs,” Domingo said.