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Published December 18, 2020, 5:25 PM
Globe myBusiness stages Paskong Pasasalamat online thanksgiving concert to recognize the resilience of Filipino MSMEs amid pandemic
Without a doubt, the COVID-19 pandemic has brought many businesses in the Philippines to their knees, especially those that belong to the micro, small, and medium enterprise (MSME) segment.
The International Trade Centre (ITC), a joint agency of the World Trade Organization (WTO) and the United Nations (UN), bared that 68% of Filipino businesses were strongly affected by the pandemic.
This figure came based on a report titled “Promoting SME (Small and Medium Enterprise) competitiveness in the Philippines: Compete, connect and change to build resilience to crises.” The report involved a survey conducted in partnership with the Department of Trade and Industry – Bureau of Small and Medium Enterprise Development.