President Ferdinand R. Marcos Jr. on Thursday expressed optimism that the “Kanegosyo Center,” an initiative spearheaded by Cebuana Lhuillier to empower budding Filipino micro, small and medium enterprises (MSMEs), would boost the business sector’s global competitiveness.

During the launch of the Kanegosyo Center at the Palacio de Memoria along Roxas Boulevard in Parañaque City, Marcos vowed closer collaboration and cooperation with the private sector to realize his administration’s goals of attracting more investments and transforming the Philippine economy.

“We still have a lot of work ahead of us but nonetheless, you can be assured that we are working together very closely, down the same direction, you in the private sector and us in the government helping one another so that we can transform this economy, so as to be able to be competitive worldwide and find ourselves as an investment destination, as a thriving economy with a stable situation in our country,” Marcos said.

“That is the dream. That is the inspiration. I sincerely believe that with programs like this, with all of us working together, we can achieve that,” he added.

Marcos said he is confident that with the establishment of the Kanegosyo Center, the MSMEs would thrive and turn into “large businesses.”

He hoped that the initiative would become successful in creating an ecosystem for start-ups, helping small businesses with “good idea,” and uplifting the economy.

“It is not something that is done just purely out of business instincts. It is not something that is done para kumita lang (just to make a profit). It is something that is done para tumulong (to help). And that I think is the difference in what we see with these programs that are helping the MSMEs,” he said.

Marcos also thanked those who took part in the successful launching of Kanegosyo Center, noting that it would be helpful for the MSME sector which plays an important role in developing the Philippine economy.

He noted that MSMEs represented over 99 percent of the business establishments in the country and employed around 63 percent of the workforce.

“That’s why we can do nothing but applaud and continue to support all of the efforts such as Kanegosyo, all of the efforts of our entrepreneurs teaching our upcoming entrepreneurs on how to do business,” Marcos said.

The Kanegosyo Center is Cebuana Lhuillier’s response to Marcos’ call for a whole-of-nation approach to revitalizing the country’s small enterprises during the MSME Summit 2022.

Designed as an online one-stop shop for MSMEs, the Kanegosyo Center offers a wide range of services with an aim to promote ease of doing business in the Philippines through comprehensive, curated resources and assistive interventions.

The Kanegosyo Center’s services include the “Kanegosyo Coach” which seeks to guide MSME owners and aspiring business owners by preparing and equipping them with the skills and knowledge necessary to navigate the different stages of business management.

It also offers “Kanegosyo Assist” which provides entrepreneurs with access to government permits and registration processes to legitimize their businesses and help them grow.

Its “Kanegosyo Bundle” gives aspiring business owners and experienced entrepreneurs access to loans, investments, banking services and insurance to establish their enterprises.

Since the Kanegosyo Center’s pilot launch, over 10,500 aspiring entrepreneurs have availed of Cebuana Lhuillier’s coaching modules while micro and small business owners in 79 provinces have been assisted with micro-business loans and micro-insurance solutions.

In addition, 74,111 Cebuana Lhuillier Kanegosyo members have also availed of the online one-stop services for MSMEs. (PNA)