Trade Secretary Ramon Lopez is urging business enterprises to go digital to capture more market share.
Lopez told exhibitors of the recent Manila FAME that creating digital exhibition is an innovation.
“You know governments like we consider as a business enterprise, it has to continue to innovate. So from a physical exhibit, you have to have a digital exhibit. And the good thing about a digital exhibit is of course, it will be accessible every day to any buyer, to any micro entrep(reneur) who would be inspired as they go through the different trade exhibits digitally by CITEM (Center for International Trade Expositions and Missions) and Manila FAME,” he said.
Lopez further said the Department of Trade and Industry (DTI) has been conducting physical trade fairs to provide more small and medium enterprises (SMEs) an opportunity to showcase their products.
“So almost every other week there are trade fairs, exhibits happening here in Metro Manila and around the country because there are also regional trade fairs. So these are the kind of support that we give out to micro, SMEs once we have empowered them to really level up their products,” he added.
The trade chief also reiterated the “7Ms framework” to grow MSMEs in the country. The seven-point strategy involves Mindset, Mastery, Mentoring, Markets, Money, Machines, and Models.
“The 7Ms is really all about how to create smarter entrepreneurs, smarter micro, SMEs. It’s not enough to be a plain entrepreneur but you have to be smarter. You have to be more innovative…,” he said.
Lopez said the department has also various programs and over 1,000 Negosyo Centers nationwide that will assist the MSMEs.
“And so you can imagine also the number of micro, SMEs we are able to reach out to –over a million a year. So that’s the kind of intense focus on empowering, leveling up the kind of entrepreneurs we have, giving them ideas on design, product development, brand building, how to do exports, labeling and whatever you can think of, financial literacy and all that just to enable and empower them,” he said.