Senator Loren Legarda is pushing for the passage of the proposed “Pangkabuhayan Act” to address the persistent hurdles faced by micro, small and medium enterprises (MSMEs) in accessing government support and financial assistance.
Legarda said on Wednesday the proposed law aims to streamline livelihood and entrepreneurship programs by establishing Sustainable Livelihood and Entrepreneurial Development Centers (SLEDs) in every rural municipality.
These one-stop centers will offer training, business registration, technical support, and access to financing—particularly for MSMEs in economically depressed areas.
“Our MSMEs continue to face complex requirements and fragmented support services. By reducing red tape and embracing innovation, we empower Filipinos not only to start their own businesses but also to sustain and grow them,” Legarda said in a news release.
The senator said the bill is designed to complement the Philippine Innovation Act, which she co-authored, by enabling digital transformation among MSMEs and improving their competitiveness.
“MSMEs are not just beneficiaries—they can become drivers of inclusive economic growth and creative industry development,” she added.
Legarda, who also authored the Magna Carta for MSMEs, said the latest measure is her response to the need for a more efficient and inclusive support system for the 99.5 percent of enterprises in the country that employ over 63 percent of the workforce. (PNA)
