Zambo Sur hits greatest economic boost in 10 years through MSMEs

By Jong Cadion

PAGADIAN CITY, Zamboanga del Sur (January 4, 2018) – The Department of Trade and Industry heeded the call of our President Rodrigo R. Duterte to boost the Micro Small and Medium Enterprise (MSME) Sector as the agency focused its projects and programs to help them.

The DTI – Zamboanga del Sur Provincial Office’s data suggests a sharp increase of new businesses emerging in the province the year 2017.

While there were no significant increases in investment observed in the previous years, the recent 2017 marked a massive turn, as the number of new businesses seemingly rose to an unprecedented level. A comparative analysis on the number of Business Name Registrations (BNRs) processed and issued by the agency clearly shows the economic improvement of the province, further emphasizing its potential as a regional growth center. Comparing the total number of BNRs issued by the DTI-ZDS PO in 2011 and 2016 at 1,373 and 1,812 respectively, it suggests that only 439 firms were established in the span of five years or an increase of only 32%.  On the other hand, 2017 BNR record shows a staggering 2,963 business registrants or a 64% increase in only a year – the greatest improvement of the decade.

No. of Business Name Registrations/Year
2011	2012	2013	2014	2015	2016	2017
1, 373	1,005	1,103	1,599	1,608	1,812	2963

Upon assessment and random interviews on business name applicants on what contributory factors affected their decisions to engage in business, the following factors were greatly emphasized, namely; 1) greater economic potential seen in province; 2) heightened entrepreneurial awareness; 3) full implementation of the Barangay Micro Business Enterprise (BMBE) Law, which would allow firms with total asset below P3M to be exempted of annual taxes; 4) Pondo sa Pagbabago at Pag-asenso (P3) Program; and, 5) ease in acquiring permits through the full implementation of the Business Permits Licensing System (BPLS) coupled with accessibility of the Negosyo Centers (NCs) in growth center municipalities outside the city.

Last year, the DTI-ZDS established another 5 Negosyo Centers in the municipalities of Bayog, Tabina, Kumalarang, Josefina and Dumingag totaling to 11 NCs all over the province, conducted a total of 160 entrepreneurship trainings helping 4,200 MSMEs in the process. The agency also spearheads the implementation of the BMBE where the application forms are readily available in the Negosyo Centers, as well as link interested MSMEs to partner Financial Institutions (FIs) that handled the P3 project, as among others.

The DTI-ZDS’ Provincial Director Maria Socorro M. Atay said that the government’s efforts to strengthen MSMEs is aimed at improving the national economy further contributing to the country’s vision of making socio-economic growth and development inclusive. She also encouraged potential and interested entrepreneurs not to hesitate to venture into business as the government is investing all its effort to help nurture them.