ABAC chief cites importance of connectivity for micro, small biz

FILE: Joey Concepcion of GoNegosyo (Photo: Joey Concepcion/Facebook)

MANILA — Ensuring connectivity in an economy is a sure way of addressing poverty and ending security issues, among others, that result from it.

This was pointed out Sunday by Presidential Adviser on Entrepreneurship Joey Concepcion, as he noted the importance of putting necessary infrastructure to ensure sustained and inclusive growth.

In a briefing for the three-day ASEAN Business and Investment Summit 2017 that started Sunday afternoon, Concepcion said empowering the micro and small businesses through improved logistics and technology is a sure way of creating greater connectivity.

The ASEAN Business Advisory Council (ABAC) chair noted that 99.6 percent of businesses in the country are micro and small enterprises but large corporations still dominate the market.

He, thus, cited the need to help small entrepreneurs in any way possible to boost their chances of making it big.

He said because of the archipelagic situation of the Philippines there is a need not only to provide brick-and-mortar structures but also digital connectivity.

“We have to give these people a chance to have a better outlook in life, improve their status and standard of living and I believe connectivity is key in achieving that,” he said.

Concepcion, who is president of listed food and beverage company RFM Corporation, said the Duterte government has taken these small businesses’ welfare in consideration to help them improve their sector and the owners and workers’ life.

He said the Philippine government is following the lead of China for the latter’s One Belt, One Road program, which, he said, is a good way to move more people and goods faster.

With the economic integration of the 10-country member Association of Southeast Asian Nations (ASEAN), Philippines’ micro and small entrepreneurs will have more chances of tapping opportunities in the region, he added.