Marcos urged to include MSMEs in business advisory council


Posted at Jun 28 2022 12:53 PM

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President-elect Ferdinand Bongbong Marcos Jr, who will be inaugurated on Thursday, should include smaller business operators in the "business advisory council" that the incoming leader is reportedly forming, a businessman said on Tuesday.

In an interview with ANC, Francorp Philippines CEO Sam Christopher Lim said the council should include MSME experts who know how small businesses work.

"Great idea to bring in this business advisory council. I guess one wish list for us there is I hope they put both people who have grounded business knowledge, not just academics, especially those coming from the small, medium business sector," Lim said.

Francorp is a company that helps medium and small businesses get into franchising.

"Those who understand how smaller businesses work, not the big conglomerates, not the big corporates," he added.

Over 99 percent of businesses in the Philippines are considered part of MSMEs. Many of these businesses were forced to shut down during the peak of the pandemic.