BALBALAN, Kalinga (PIA) - - The Department of Trade and Industry (DTI) through the Balbalan Negosyo Center awarded seed capital to 106 Micro, Small, and Medium Enterprises (MSMEs) from 14 barangays of this municipality.
The beneficiaries are engaged in coffee processing, furniture and handicrafts, food processing, services, and trading. Each received goods worth P8, 000 based on chosen livelihood proposal and line of business earlier submitted to DTI.
Beneficiaries are required to take their Pledge of Commitment, affix their signature to the hard copy of the pledge stating among others, to submit to DTI updates on the performance of their business.
The Balbalan Negosyo Center is tasked to monitor the progress of the beneficiaries’ business operation and provide needed technical assistance to ensure their growth.
Renie Ramos, Provincial Director of DTI – Kalinga and Municipal Administrator Eric Gonayon Jr. led the awarding ceremony on April 12 at the town hall. This was the third awarding of livelihood kits from the Pangkabuhayan sa Pagbangon at Ginhawa - Livelihood Seeding Program (PPG-LSP) for 2022.
The PPG LSP is one of the measures of the government to aid existing MSMEs to bounce back from the devastating effects of the COVID-19 pandemic on the economy.
Ramos said that this assistance is intended to provide small business operators additional investment for the operation of their business. He clarified that while this assistance is not a loan scheme free from any obligation from a beneficiary for repayment, it is not similar to other government “ayuda” of consumable items. He encouraged the beneficiaries to nurture the seed capital provided to them to grow their enterprises and generate profit.
