But more than helping them recover from the pandemic, policymakers should rethink or reimagine entrepreneurship in order to realize the full potential of MSMEs. The paperwork and collateral required may be stumbling blocks to compliance with the magna carta, but that has to be studied. Worse, that magna carta provision also conflicts with existing procurement laws that require bulk orders to realize economies of scale. For this, policymakers should study Israel, which is known as the "start-up nation" because of the success of its MSMEs. Clearly, Filipinos should develop a more sophisticated handle on entrepreneurship and MSMEs.

Source: Manila Times June 20, 2022 04:11 UTC