Contact NOCCI
- NOIPC Capitol Area, Dumaguete City, PH
- + 63 (35) 422-0243
+ 63 (35) 300-5498 - connect2us@nocci.biz
- Office Hours: 8:00am to 5:00pm
SME Development
NOCCI SME Development & Digital Transformation
Small and Medium Enterprises (SMEs) are the backbone of economic development, and the role they play in the growth and vitality of Negros Oriental cannot be overstated.
SMEs are the lifeblood of the local economy, encompassing a diverse range of businesses engaged in industry, agri-business, and services. These enterprises can take various legal forms, including single proprietorships, cooperatives, partnerships, and corporations. The distinguishing feature of SMEs lies in their total assets, which include all financial resources except the land on which the business operates.
Development
MSMEs play a major role in the country’s economic development through their contribution in the following: rural industrialization; rural development and decentralization of industries; creation of employment opportunities and more equitable income distribution; use of indigenous resources; earning of foreign exchange (forex) resources; creation of backward and forward linkages with existing industries; and entrepreneurial development.
Purpose
They are vital in dispersing new industries to the countryside and stimulating gainful employment. A country like the Philippines where labor is abundant has much to gain from entrepreneurial activities.MSMEs are more likely to be labor-intensive. Thus, they generate jobs in the locality where they are situated. In this sense, they bring about a more balanced economic growth and equity in income distribution.
Contribution
MSMEs contribute to the creation of wealth, employment, and income generation, both in rural and urban areas, thus, ensuring a more equitable income distribution.They also provide the economy with a continuous supply of ideas, skills, and innovations necessary to promote competition and the efficient allocation of scarce resources.
The Chamber's initiatives
NOCCI is not only looking to attracting outside investors to Negros Oriental but also encouraging local entrepreneurs to invest in value adding activities.
The SME Development Program of the Chamber will essentially focus on supporting the growth of home-grown entrepreneurs/SMEs in the areas of crafts, processed food, agriculture, services and tourism.
NOCCI's Role in SME Development
NOCCI recognizes the importance of not only attracting external investments to Negros Oriental but also nurturing local entrepreneurship.
To achieve this, the SME Development Program of the Chamber focuses on supporting homegrown entrepreneurs and SMEs across various sectors, including crafts, processed food, agriculture, services, and tourism.
Access to Finance
Facilitating access to capital and financial resources for SMEs
Training & Skills Development
Offering training programs to enhance the skills and knowledge of SME owners and their employees.
Policy Advocacy
Advocating for favorable policies and regulations that support SME growth
Business Incubation
Providing support and resources to nurture the growth of start-ups and SMEs.
Market Access and Promotion
Assisting SMEs in marketing their products and services, both locally and internationally
SME's Contributions
to Economic Development
Negros Oriental Chamber of Commerce and Industry (NOCCI) is a crucial driver of local economic development. By empowering and nurturing small and medium enterprises,
NOCCI contributes to the prosperity, sustainability, and economic inclusivity by developing SME’s in Negros Oriental.
Wealth Creation and Innovation
SMEs are engines of innovation, continuously supplying fresh ideas and skills to promote competition and efficient resource allocation. They drive economic progress through constant adaptation and improvement
Balanced Economic Growth and Income Equity
SMEs contribute to more balanced economic growth and income distribution by generating jobs locally. This helps in reducing income disparities and improving overall living standards in both rural and urban areas
Rural Industrialization
SMEs are instrumental in promoting industrial activities in rural areas, helping to decentralize industries beyond urban centers
Rural Development
Their presence contributes to the overall development of rural communities by creating economic opportunities and uplifting local livelihoods
Employment Generation
SMEs are significant job creators, especially in regions with an abundant labor force. They foster local employment and reduce urban migration
Utilization of Indigenous Resources
SMEs often rely on local resources, including raw materials and skilled labor, fostering the sustainable utilization of indigenous assets
Foreign Exchange Earnings
Some SMEs engage in exports, thereby earning foreign exchange for the country
Backward and Forward Linkages
They establish valuable connections with existing industries, both suppliers (backward linkages) and customers (forward linkages), which strengthens the overall industrial ecosystem
Entrepreneurial Development
SMEs cultivate entrepreneurial talent and provide opportunities for aspiring business leaders to learn and grow