Trade Secretary Ramon Lopez (file photo)
MANILA – The Department of Trade and Industry (DTI) has urged micro, small and medium enterprises (MSMEs) to embrace digital transformation amid the “new normal”.
At the virtual event of Small Business (SB) Corp. Monday, DTI Secretary Ramon Lopez said adopting digitalization will help businesses and the country to recover from the pandemic.
He said along with the promotion of financial technology, digitalization will empower MSMEs towards the Fourth Industrial Revolution.
“The Covid-19 (coronavirus disease 2019) pandemic has forced all of us to rethink the way of doing things and this has resulted in major transformations in the way we do business -- including business models and processes,” he added.
According to DTI e-Commerce Group’s survey last September, 73 percent of MSME respondents said they need capacity-building related to digitizing their business.
Lopez said among the top needed skills of MSMEs in adopting digitalization include financial, marketing, content management, basics of e-commerce, and starting an online business.
“Another thing to consider -- especially during the pandemic -- is that digitalization ensures that MSMEs’ business activities can continue safely. For example, restaurants and hotels can do this by conforming to the minimum health protocols through QR (quick response) codes, as well as utilizing smartphone applications so that customers can order food or request for delivery,” he added.
The DTI chief urged MSMEs to embrace digitalization of their businesses as this can increase their productivity, reduce costs, diversify products and services, improve competitiveness, and increase sales by managing transactions at a distance.
“Lastly, the adoption of digitalization in all sectors of the economy supports DTI’s innovation agenda. Despite limitations in our technology infrastructure, more MSMEs are conducting their businesses online amidst the pandemic -- which is why their digitalization plays a crucial role in developing an inclusive and sustainable economy,” Lopez said. (PNA)
