This year is a landmark for the CMA program, for being launched amid the COVID-19 pandemic and showcasing the determination of Filipino microentrepreneurs to succeed at this trying time. A critical sector of our country, MSMEs account for 99.5% of business enterprises, 62.4% of total employment, and 35.7% of gross value added (GVA). The pandemic disrupted MSMEs in unprecedented ways.
More than ever, it is vital to sustain our microentrepreneurs, who provide essential products and services in the “last mile.” Predominant in low-income areas and serving as engines driving local economies, microentrepreneurs also nurture swathes of the Filipino population depending on them for postpandemic recovery and rebuilding. Hence, the BSP is pulling out all the stops to support microentrepreneurs and SMEs.