MSMEs’ struggle is real

Contributed By Mar Jay Delas Alas – PIA, Bataan

CITY of BALANGA, Bataan – Atty. Anne Lorraine Inton, representing the board of trustees of Bataan Peninsula Tourism Council Foundation, Inc., relayed the bills and laws that would benefit micro, small and medium enterprises (MSMEs) which compose more than 90 percent of businesses in the country.

She said that through concerted public and private efforts, Republic Act No. 9501 or the Magna Carta for MSMEs was enacted into law in 2008, providing legal mandate to promote entrepreneurship by strengthening development and assistance programs for small businesses.

Inton added that she is aware of the struggles of entrepreneurs and businessmen in the country which is why they are helping them lessen their burden in the trade industry.

“We drafted the Credit Fund Surety Bill which is now a law, the Credit Fund Surety Act. So I’m really happy that it was implemented into a law,” she stated.

Republic Act No. 10744 provides for the creation and organization of credit surety fund cooperatives to enhance the accessibility of MSMEs, cooperatives and nongovernment organizations to the credit facility of banks and for other purposes.