[Left-right] Bangko Sentral ng Pilipinas Deputy Governor Bernadette Romulo-Puyat, BDO Foundation President Mario Deriquito, and Department of Trade and Industry Acting Secretary Ma. Cristina Roque officially launch the financial literacy videos for micro-entrepreneurs.

Mandaluyong City, Philippines—Committed to upskill and reskill local micro, small, and medium enterprises (MSMEs), the Department of Trade and Industry (DTI), in partnership with the Bangko Sentral ng Pilipinas (BSP) and the BDO Foundation, launched a series of educational videos aimed at empowering Filipino micro-entrepreneurs through financial education.

To further support Filipinos in scaling and growing their ventures, these organizations recognize the key role of financial education and the entrepreneurial interventions of DTI Negosyo Centers that benefit MSMEs nationwide.

“MSMEs are the drivers of our economy. We want our Filipino entrepreneurs to know that the DTI and DTI Negosyo Centers can offer them a variety of services in pursuing their passion, scaling their ventures, and sustaining what they’ve already started,” shared former DTI Undersecretary and now Acting Secretary Ma. Cristina Roque. 

The DTI, the BSP, and the BDO Foundation released three informative videos that highlight different business-related challenges such as starting a business, securing the right permits and requirements, and getting the right resources for business ventures with the help of DTI Negosyo Centers and financial institutions.

The partners watch one of the three financial education videos entitled “Sari-sari Store ni Ate Leonor” (shown on screen).

In 2022, the Philippine Statistics Authority reported that 99.59% of the 1,109,684 business enterprises in the country were MSMEs, predominantly located in the National Capital Region.

“Millions of Filipinos depend on small local businesses for livelihood. By promoting financial literacy and enhancing the financial health of MSMEs, we empower them to create more jobs for our kababayans and drive our economy’s growth,” shared BSP Deputy Governor Bernadette Romulo-Puyat.

The financial education program for MSMEs is expected to benefit more than 900,000 MSMEs nationwide. The videos will be used as part of a trainer’s kit that will also include a trainer’s manual and discussion guides.

Moreover, the videos will also be made available on DTI platforms to maximize accessibility of the learning materials.

“With this partnership, we are optimistic that more and more micro-entrepreneurs can thrive through these challenging times by providing them with more knowledge and skills that are useful to their businesses,” said BDO Foundation President Mario Deriquito.   “We will continue to help pave the way for accessible solutions that support micro-entrepreneurs maneuver new landscapes through financial education. BDO Foundation will also help expand the reach of the program by partnering with local government units and civil society groups that support micro-entrepreneurs,” he concluded. ♦

Date of release: 13 August 2024

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