Back small businesses, gov’t told

THE PHILIPPINE GOVERNMENT should provide financial support to small enterprises when costs of goods surge, a senatorial candidate said on Sunday.

In a statement, senatorial candidate Paolo Benigno “Bam” Aquino IV said he will file a bill providing small businesses, such as neighborhood convenience stores, eateries, and market vendors financial aid and other forms of assistance during times of high prices.

“The impact of inflation on small businesses like sari-sari stores is immense because your capital and profit margins shrink, making it harder to sell when the prices of goods are high,” he said in Filipino.

“In situations like these, it is crucial for the government to be present to provide immediate assistance, especially financial aid, which we will advocate for once we return to the Senate,” he added.

The Philippines has about 1.2 million small businesses, accounting for more than 99% of total establishments, according to government data. — Kenneth Christiane L. Basilio