The (MSME) sector is one of the hardest hit by the COVID-19 pandemic and the ensuing ECQ implementation. In less than three months, we saw closure of businesses, loss of jobs, and cash-strapped MSMES struggling to survive. If ECQ was hard for MSMEs, post-ECQ will be harder. It will not be “business as usual”. It is critical that the government and other stakeholders provide the necessary and timely support to the MSME sector to pave the way for its survival and eventual recovery.
In this Policy Brief submitted to the Department of Trade and Industry (DTI), the University of the Philippines Institute for Small-Scale Industries (UP ISSI) recommends the following:
- Provide financial grants to cash-strapped MSMEs;
- Facilitate MSME’s access to interest-free loans and other financial assistance;
- Look into the feasibility of waiving taxes and other business-related fees of MSMEs for at least six months;
- Eliminate barriers to the movement of goods and personnel in essential sectors;
- Realign budget and allocate to industries severely affected by the pandemic;
- Strengthen the ICT infrastructure in the country;
- Increase the capacity of MSMEs on business continuity planning; and
- Increase the capacity of MSMEs to leverage on disruptive technologies;
View complete details of the policy brief at:
UP ISSI Policy Brief on Addressing the Effects of the COVID-19 Pandemic on MSMEs
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