Financial fitness fair to help MSMEs compete


THE Philippine Trade Training Center-Global MSME Academy (PTTC-GMEA), in collaboration with the Monetary Authority of Singapore (MAS) and Proxtera, is set to hold the Financial Fitness Fair 2023 to provide micro, small and medium enterprises (MSMEs) with the tools to be competitive in the global landscape.

The event from October 24 to 25 aims to create a “nurturing” environment that equips MSMEs with the “vital knowledge, resources, and opportunities required to elevate their businesses to new heights and compete on a global scale,” said PTTC-GMEA.

“In an era of rapid global economic transformation, micro, small and medium-sized enterprises (MSMEs) find themselves at the crossroads of challenges and opportunities. As essential drivers of economic growth and innovation, MSMEs hold immense potential for generating prosperity and employment, both locally and on the global stage,” the PTTC-GMEA statement said.

However, to tap into their full potential, MSMEs require access to resources, knowledge, and support that can empower them to excel and compete internationally, it stressed.

The attached agency of the Department of Trade and Industry (DTI) said the event will feature an “array of offerings tailored to meet the unique requirements of MSMEs.”

These include SME Financial Empowerment (SFE) Program, Global Financial Services, Business Clinics and Opportunities in the Singapore Market.

The SFE Program, in partnership with the Monetary Authority of Singapore, the International Finance Corporation (IFC), and the United Nations Development Programme (UNDP), aims to foster foundational digital literacy and a “profound” understanding of cross-border financial services crucial to the success of SMEs in the digital economy.

The program encompasses several “vital courses” which are the Foundational Financial Literacy; Global Financial Literacy Course; and Green Financing Course.

The Foundational Financial Literacy aims to equip learners with fundamental financial concepts, financial discipline, and introductory financial service options.

Global Financial Literacy Course will offer guidance on expanding businesses into new markets, embracing innovative digital financing options, and harnessing digital networks.

Meanwhile, PTTC-GMEA said the Green Financing Course will focus on the impact and benefits of green financing for businesses, alongside practical tools to initiate green financial practices.

For her part, PTTC-GMEA Executive Director Nelly Nita N. Dillera said the Financial Fitness Fair 2023 is a “beacon of hope” for MSMEs seeking to thrive in today’s “dynamic” global economy.

“This collaborative effort between the PTTC-GMEA, the Monetary Authority of Singapore, and Proxtera is a testament to our commitment to empower MSMEs and provide them with the tools they need to succeed in a competitive world,” she added.