MANILA - The Department of Trade and Industry (DTI) urged overseas Filipino workers (OFW) who were displaced by the COVID-19 pandemic to avail of their entrepreneurship programs and start their own small business.
DTI said a loan program is available for OFWs who want to start their business through DTI-attached agency Small Business Corporation (SB Corp).
SB Corp Head for Capacity Building group, Josefina Flores admitted, they've only been able to approve 205 loans worth P11.8 million or just a little over a tenth of the P100 million budget of the program since it started in July last year.
"Hindi po kami talaga masaya masyado dito sa update na ito kasi po pag binase natin sa registration ng mga arrivals ng ating mga kababayan galing abroad, napaka taas, by the thousands 'yung dumating everyday," Flores said.
Trade Secretary Ramon Lopez they're ready to assist entrepreneurs to avail of programs from other government agencies like the Department of Agriculture for agribusiness and the startup program of the Department of Science and Technology.
He noted that online businesses as well as those in the logistics and delivery industry have boomed during the pandemic.
DTI, Department of Trade and Industry, Philippine Trade Training Center, PTTC, Small Business Corporation, SB Corp., OFW, overseas Filipino worker, COVID-19, pandemic, business, entrepreneur, HEROES program