Manila Bulletin
Senator Go lauds crucial role of MSMEs
Senator Christopher "Bong" Go praised the government's Small Business Wage Subsidy (SBWS) program, highlighting the crucial role of micro, small, and medium enterprises (MSMEs) in the Philippine economy.
The SBWS program aims to support MSMEs and their employees affected by the COVID-19 pandemic, enabling businesses to retain staff and mitigate economic impacts.
Eligible employees will receive a monthly wage subsidy ranging from P5,000 to P8,000 for up to two months, or until the enhanced community quarantine is lifted.
The Department of Finance (DOF) oversees the program, with the Social Security System (SSS) managing applications from employers on behalf of their workers.
Starting May 1, qualified applicants will begin receiving financial assistance.
Senator Go expressed gratitude for the swift approval of the DOF's proposal, emphasizing the need to support affected Filipinos and protect the economy during the crisis.
The program is expected to benefit over 3.4 million workers with an allocated budget of P51 billion.
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The Philippine government has begun accepting applications for its Small Business Wage Subsidy Program to assist micro, small, and medium enterprises (MSMEs) in retaining employees during the COVID-19 community quarantine.
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The government will provide P35 to P50 billion in financial aid to micro, small, and medium enterprises (MSMEs) through the "Small Business Wage Subsidy Program."
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The Philippine government is launching a P51-billion wage subsidy program to aid middle-class workers in small businesses affected by the enhanced community quarantine.
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The Bureau of Internal Revenue (BIR) and the Social Security System (SSS) have released guidelines for the Small Business Wage Subsidy (SBWS) program, providing financial support to 3.4 million workers of small businesses affected by the enhanced community quarantine.
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The Department of Finance (DOF) has extended the application period for the Small Business Wage Subsidy (SBWS) program until May 8 due to technical issues encountered with the Social Security System's (SSS) website.
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