Department of Trade and Industry (DTI) Secretary Ramon Lopez said the country is being a so-called social media capital makes youth entrepreneurs as potential contributors to the success of the government’s socio-economic development agenda for micro, small and medium enterprises (MSME).
“The Philippines is the social media capital of the world and this is strengthening the economic independence of the youth entrepreneurship program (YEP) of the department,” Lopez said in a recorded keynote message played during the opening of the Cordillera YEP year 2 program launch and orientation on Wednesday.
The whole day launching event includes talks on DTI programs for young and new entrepreneurs and sharing of experiences of experts and young entrepreneurs.
Lopez said the DTI saw the potential of young entrepreneurs and conceptualized the YEP as the agency’s share to the whole-of-nation approach aimed at helping the economy recover amid the coronavirus disease 2019 (Covid-19) pandemic.
He shared the agency’s “7Ms” in accelerating competitiveness among young entrepreneurs which can be accessed to help the sector start, improve, sustain and succeed in doing business.
Lopez said the DTI has the program on creating a “mindset” that helps young entrepreneurs acquire “mastery” of the trade. They also have “mentoring” programs for new and aspiring entrepreneurs and provides “machines” under the shared service facility (SSF) where the department gives equipment.
There is also a “market” access program where the DTI links MSMEs with potential markets and a “module” to continue providing skills.
Lopez said the government is assisting 18,160 MSMEs in the Cordillera that has created 38,397 jobs and introduced about PHP1 billion micro-entrepreneurs which the 47 Business Centers are assisting.
“These programs can be accessed by our small entrepreneurs, including the youth entrepreneurs because we believe in young people as future businessmen,” he said.
DTI Undersecretary for regional operations Blesila Lantayona, in a separate recorded message, also said that aside from the youth entrepreneurship program, they also plan to come up with programs for the differently-abled, also a vulnerable sector of the population.
Also upcoming are its entrepreneurship programs for the out-of-school youth.
Juliet Lucas, DTI Cordillera regional director, said that since the start of the pandemic, they saw the trend of young people going into business taking advantage of the internet which made them give attention to the sector.
To date over a hundred young entrepreneurs have been trained and 67 of them have pursued specialized training and courses on entrepreneurship.