Advertisement

QC taps P700M for MSE biz recovery plan

The Quezon City council has approved a “sustainable” recovery plan and a wage relief program for micro and small enterprises (MSEs) to help them bounce back from the adverse impacts of the community quarantine due to the coronavirus pandemic.

Mayor Joy Belmonte said the city government has earmarked P700 million for micro and small businesses under the “Kalingang QC Para sa Negosyo” program of the QC Small Business and Cooperatives Development and Promotions Office (SBCDPO) and Local Economic Investment Promotions Office (LEIPO).

“This is a way to be able to help our small businesses recover. They have served to be a solid pillar of the city’s economy,” she said.

“This program aims to help our micro and small entrepreneurs meet ongoing business costs by providing wage subsidies that can help keep their employees and business operations until they get back on their feet,” Belmonte added.

Majority Floor Leader Franz Pumaren of District 3 pushed for an economic stimulus package that partially subsidizes the salaries of employees of qualified enterprises to help micro and small businesses weather the impact of COVID-19.

Mona Celine Yap, SBCDPO chief, said eligible micro and small businesses shall receive wage subsidies from July to September. Those interested to apply may see the SBCDPO office from July 6 to July 20.

City-registered micro-enterprises with less than nine employees and/or with an asset size or capitalization of up to P3 million, such as, but not limited to, variety stores, canteens, laundry shops, computer shops and printing shops may avail of the program.

“Micro enterprises that are forced to suspend or reduce business operations, experienced revenue decrease or loss, those currently operating or plan to re-open by July 2020 can also apply,” Yap said.

Active employees of qualified micro business enterprises, whether regular, probationary, regular seasonal, project-based, or fixed-term, are eligible under the program.

Small businesses registered in Quezon City that have 10 to 99 employees and/or with assets of more than P3 million up to P15 million can also apply.

Topics: Quezon City , Joy Belmonte , COVID-19 , micro and small enterprises , Franz Pumaren , Mona Celine Yap
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by manilastandard.net readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of manilastandard.net. While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Congress Trivia 1
Advertisement