by Michael Angelo D. Adrid
A critical key in cultivating the progress of developing nations such as the Philippines, is the fully-realized adoption of an inclusive economic growth policy. Growth, in an inclusive sense, would mean that the elevation of living standards is commonly experienced, and that access to comfortable living is extended up to the grassroots level of our society at a sustainable level.
Hence, it is empowering to note that as a country, we have nurtured an economic environment that encourages greater participation to the market. This accomplishment is strongly indicated by the emergence of micro, small n and medium enterprises (MSME) as among the primary drivers of our economy. By definition, under Republic Act (RA) No. 7042 dated June 13, 1991, as amended (otherwise knows as the Foreign Investments Act), an enterprise may be considered as belonging to the MSME sector if its paid-up capital is less than $200,000.00, or its equivalent.
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