MANILA - At least 5 percent of registered businesses in Pasig City closed in 2020 due to the disruptions caused by the COVID-19 pandemic, Mayor Vico Sotto said Wednesday.
"In Pasig, around 5 percent of registered businesses actually retired in the year 2020... These are primarily small businesses. There are some business owners who don't know that they need to retire their business and they closed... The real number can be as high as 10 percent," Sotto said in an interview with ANC's Market Edge.
"The 5 percent that retired or close in 2020 represent the small businesses that have a difficult time [during the pandemic], not having a big amount of capital, and a little push could cause them to close," he added.
Sotto said they launched TAPAT program in July last year to provide P10,000 cash loans to small businesses and help them jumpstart their businesses.
The program has 3,000 small business beneficiaries to date, he added.
Pasig City recently opened its second business one-stop shop in Ayala The 30th Mall in Ortigas to provide options for businesses to register and get permits, Sotto said.
The Ayala one-stop shop is expected to help decongest the first outlet located in the Pasig City Hall, and allow clients to maintain safe social distancing measures, Sotto said.