Amid high inflation that has been pestering the economy in the past year or so, stakeholders are anticipating a good year for micro, small and medium enterprises, albeit in varying degrees. | AldenMonzonINQ /PDI
The head of the largest business group in the country says the resumption of in-person classes and in-office work will have a huge impact on the country’s economic recovery.
“There are many MSMEs in the [tourism] sector. These are the ones we see outside Metro Manila who are mostly linked to the service or food sectors,” says Barcelon. Adding to businesses’ woes, employees would likely clamor for higher wages to cope with spiraling costs of their day-to-day needs, Barcelon adds.Good yearGo Negosyo founder Joey Concepcion expresses optimism for MSMEs this year, drawing his conclusions from the economy’s performance last year.
“MSMEs will continue to do better. Tourism will definitely contribute to that, with revenge travel that is happening all over the world,” Concepcion says, adding that Filipinos would also have more spending power with remittances from abroad remaining strong.
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