With more than P340 billion loaned out to micro, small and medium enterprises in the Philippines, the administration has generated some six million jobs over the years. In her message during the recent second Go Negosyo Women Entrepreneurship Summit, President Gloria Macapagal Arroyo said that of the total loans granted, 90 percent were availed of by women. The total number of jobs that have been created is double the target set in 2004 by the administration.

In the last six years, the administration has made use of various government and non-governmental instrumentalities to disburse the financing packages for micro and Small and Medium Enterprises (SMEs). Guidance has been provided by organizations that develop basic skills for entrepreneurs, such as the Philippine Center for Entrepreneurship (PCE).

President Arroyo has declared that she will encourage the Monetary Board to sustain the policies that encourage banks to offer appealing loan packages to entrepreneurs. The successes of entrepreneurs in the country is documented in a book that was launched at the second Go Negosyo Women Entrepreneurship Summit held on the occasion of International Women’s Day. Entitled “Tagumpay,” the book compiles the success stories of 100 entrepreneurs.

The achievements of the administration in encouraging entrepreneurial activities in the last six years has not only produced more than the targeted jobs; it has also laid the foundation for much more resilient businesses that cater to the needs of domestic and foreign consumers.