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247th Issue Volume 65 No. 1 Wednesday 12 May 2010 |
In this issue |
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SME in Focus Enabling the SMEs
Generally, the SETUP is a good program for boosting competitiveness and sustainability of MSMEs. However, much still needs to be done in building MSME capabilities. Access to formal credit by MSMEs is a major issue because private banks remain wary of servicing the sector. State-private cooperation involving DOST, SME development advocates, venture capitalists and bankers would open doors for channeling resources towards promotion of MSMEs. At the end of the day, MSMEs and individuals must realize it does not only take perseverance and industriousness to succeed. You also need tools to make you more competitive.
Special Report Limited financing options for ICT-enabled SMEs
Featured SME Galileo Enrichment Learning Program
Through the Telescopic Approach, Galileo seeks to find each child’s learning need and tailor fit a specific program for him or her, according to Rowena Matti, chief executive officer of Galileo Enrichment Learning Center. Breaking away from traditional learning, Matti said Galileo introduces English and Math concepts to children from ages three to 12 in five different ways.
Tax Calendar 2010 May
SME Events 2010 May - June
SME Power Quote “If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours.” | ||||||||||||
The Department of Science and Technology (DOST) is known to provide technologes to enable micro, small and medium enterprises (MSMEs) to become competitive and sustainable. Through the Small Enterprise Technology Upgrading (SET-UP) program, the DOST channeled P114 million worth to 120 MSME projects in 2009, while processing 331 proposals worth more than P211 million.
A key finding from infoDev’s Incubator Initiative and our country work on growth and competitiveness is that there is little available financing for technology entrepreneurs. Without appropriate financing, the inevitable result is a significant slowdown in the business development process, which, in a fast moving business such as ICT, may ultimately jeopardize chances of success. To better understand the financial challenges facing technology entrepreneurs, infoDev commissioned this study, which assesses the current efforts by multilateral institutions and investors to address the financing needs of ICT and ICT-enabled SMEs in developing countries, and identifies the key challenges and constraints to meeting these needs.
Inspired by Galileo’s vision and brilliance, the Galileo Enrichment Learning Program has crafted the Galileo Program to train the children to respond to the needs of a global world.
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