ENTREPRENEURS in the micro, small, medium enterprises (MSME) sector will get a P52 million boost this year from the Department of Science and Technology (DOST).
The entrepreneurs can get assistance through the DOST’s Small Enterprise Technology Upgrading Program (Setup), said engineer Samuel A. Parcon, DOST Cebu Provincial Science and Technology director, said in a recent forum.
Setup can be used by entrepreneurs through equipment acquisition or in packaging assistance to name a few.
“This is to help them increase productivity and employment,” Parcon said.
The enterprises will undergo an initial screening where they are required to submit documents, Parcon said.
He added that the first qualification will be the proof that an enterprise is duly registered.
There will be a quarterly monitoring by DOST evaluators to keep track the assisted enterprise and make sure that they meet their target, said Parcon.
The entrepreneurs will be given three years to repay their loan without interest, he said.
Parcon said the DOST increased the assistance to P52 million this year as compared to last year’s P40 million.
He said almost 200 entrepreneurs and firms in Central Visayas have already availed of the assistance./XU Intern Kent A. Ugalde