DTI, BSP, BDO unveil financial literacy videos for MSMEs

In a bid to upskill and reskill micro, small, and medium enterprises (MSMEs) across the Philippines, the Department of Trade and Industry (DTI), in collaboration with the Bangko Sentral ng Pilipinas (BSP) and the BDO Foundation, has launched a series of educational videos aimed at empowering Filipino micro-entrepreneurs through financial education.

The initiative, which aligns with the government’s broader push to bolster the MSME sector, aims to address key challenges faced by small business owners.

The videos, designed to be both informative and practical, cover essential topics such as starting a business, securing necessary permits, and accessing vital resources with the help of DTI Negosyo Centers and financial institutions.

“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,” said DTI Acting Secretary Ma. Cristina Roque.

The educational materials, which are part of a comprehensive financial education program, are expected to benefit over 900,000 MSMEs nationwide.

In addition to the videos, the program includes a trainer’s kit, comprising a manual and discussion guides, to facilitate effective dissemination of the information.

Highlighting the critical role that MSMEs play in the Philippine economy, BSP Deputy Governor Bernadette Romulo-Puyat noted, “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.”

The Philippine Statistics Authority reported in 2022 that MSMEs accounted for 99.59% of the country’s 1,109,684 business enterprises, predominantly located in the National Capital Region.

Recognizing this, the BSP, DTI, and BDO Foundation aim to maximize the accessibility of the learning materials by making the videos available on DTI’s platforms.

BDO Foundation President Mario Deriquito expressed optimism about the initiative, stating, “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.”

Deriquito also emphasized BDO Foundation’s commitment to expanding the reach of the program by collaborating with local government units and civil society groups that support micro-entrepreneurs.

“We will continue to help pave the way for accessible solutions that support micro-entrepreneurs maneuver new landscapes through financial education,” he concluded.