27.3 C
Philippines
Sunday, December 4, 2022

COVID-19 crisis affects 5,208 MSMEs in Camiguin

CAMIGUIN (PIA)—The Department of Trade and Industry (DTI)-Camiguin tallied 5,208 micro, small and medium enterprises (MSMEs), which were affected by the coronavirus disease (COVID)-19 crisis in the five towns of the province as of May 15.

DTI Provincial Director Joselito Enot said COVID-19 has affected 5,187 micro to small businesses of which 752 are from Mambajao, Guinsiliban (347), Mahinog (833), Mambajao (2,753), and Sagay (502). For medium enterprises, 21 businesses were affected including 1 in Catarman, Mahinog (1), and Mambajao (19).

From such data, about 9,649 workers of the micro to small businesses were affected and 736 workers from the medium enterprises.

Tourism-related sector recorded the most number of affected businesses with 1,911. Trading sector marked 218 businesses affected, and manufacturing, construction, and agri-based sector recorded 111 businesses, which suffered from the health and economic crisis. 

To aid the sectors, DTI-Camiguin facilitated and endorsed the DTI Small Business Corporation Pondo sa Pagbabago at Pag-Asenso COVID-19 Assistance to Restart Enterprises (P3 CARES) loan applications. 

The department also facilitates the provision of livelihood starter/recovery kits to the qualified MSME beneficiaries of the Negosyo Serbisyo sa Barangay (NSB) in the fourth to sixth class municipalities. 

“We also provided technical assistance to major industry associations like the Camiguin Tourism Association (CTA) in drafting COVID-19 related solutions or policy advocacy initiatives,” Enot said. 

Moreover, DTI-Camiguin also extended its help to MSMEs by urging them to undertake and regularly update their Business Continuity Plans (BCPs) aside from mentoring MSMEs. 

Business enterprises are also offered with financial support under the new normal such as termed loans and loan moratoriums. (RTP/PIA10)