IT will be detrimental for micro, small, and medium enterprises (MSMEs) and the economy as whole if another series of lockdown will be imposed, Presidential Adviser on Entrepreneurship Joey Concepcion said Thursday.
“The country cannot afford a second lockdown from happening,” Concepcion said in an interview on Dobol B sa News TV.
The presidential adviser said MSMEs will be drastically hit since it will be difficult for them to access capital as banks may opt to reduce their risk exposure during the COVID-19 situation.
“Mas malaking problema sa MSMEs natin kasi ‘yung working capital nila is ubos na in the first round of lockdown,” Concepcion said.
“Mga bangko nahihirapan din mag-lend baka lumaki ang exposure nila,” he added.
The Employers Confederation of the Philippines has earlier noted that 90 percent of businesses in the country are micro and small enterprises, 8 percent are medium, and the remaining 2 percent are large.
Concepcion said the general public, businesses, local government units, and all the stakeholders must cooperate with the national government’s directive in enforcing the Luzon-wide enhanced community quarantine.
“We have to succeed for us to sustain this economy. If we have a second lockdown it will be very challenging,” he reiterated.(GMA News)
