The Department of Trade and Industry (DTI) has listed five support measures for business resilience and competitiveness in the wake of rising wages.
“The DTI is committed to strengthening business resilience and competitiveness, particularly for our small and medium-sized enterprises (SMEs) which are more vulnerable to wage increases,” said Secretary Alfredo Pascua in a statement.
Pascual said large enterprises generally have the capacity to pay higher wages, but SMEs often require assistance.
According to Pascual, through capacity building initiates, the DTI helps equip SMEs with the necessary skills and knowledge to optimize their operations.
DTI organizes regular workshops and training sessions aimed at improving operational efficiency and productivity.
Pascual said DTI’s digital transformation programs assist SMEs in adopting advanced technologies to streamline their operations, reduce costs, and increase competitiveness. These include initiatives to integrate e-commerce solutions and automation tools into daily operations.
The third program involves market development support where DTI facilitates SME participation in domestic and international trade fairs, as well as on e-commerce platforms.
This exposure helps SMEs expand their market reach and explore new business opportunities, Pascual said.
The fourth one, streamlined business processes, makes it easier for SMEs to start, operate, and grow their businesses through the DTI’s simplified business registration.
The fifth, shared service facilities program remains a cornerstone of DTI’s support strategy.
Pascual said by providing access to high-quality equipment and technology, SMEs can improve their productivity and reduce operational costs, thereby enhancing their competitiveness.
“Through these initiatives we are supporting our SMEs to manage the challenges posed by wage increases,” he added.
The Regional Tripartite Wage Board on July 1 approved the increase of the daily minimum wage of workers in the National Capital Region by P35 from P610 to P645 for the non-agriculture sector and from P573 to P608 for the agriculture sector and other specified establishments in NCR. The adjustment takes effect July 17.
