As of May 2019, 99.56 percent of business establishments in the country were MSMEs. From around 900,000 in 2017, it further grew to 1.42 million, 90 percent are essentially microenterprises with total assets of below P3 million and with less than 10 employees. Data from the Department of Trade and Industry (DTI) showed that about seven out of every 10 employed Filipinos work in an MSME-owned business.
The DTI estimated that in 2018, MSMEs were responsible for contributing 40 percent to the Gross Domestic Product (GDP), while providing 5.7 million jobs or 63.2 percent to the country’s workforce. Recognizing the MSME sector’s invaluable contributions to the economy and employment, the DTI launched the “Go Lokal” program, a free-market access platform for MSMEs supported by select retail partners.