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June 21, 2011

Provincial MSMED Councils honor SME Rising Stars

In the run-up to SME Week, which will be celebrated on the second week of July this year, the provincial MSMED Councils have started announcing the winners of the SME Rising Star Award in their respective provinces.
With government statistics indicating that 99.6% of registered businesses belong to the micro, small and medium enterprise segments, the government’s SME Star Program was formulated as an important framework for SME development and promotion.
According to DTI Secretary Gregory L. Domingo, “The SME Star Program is a competency program that supports the growth and sustainability of SMEs through the business development stages. In cooperation with other SME stakeholders, we offer a package of services and interventions in such key areas as marketing, production, financial management, and management and technical skills development, in order to nurture the enterprise’s growth to the next stage.”
The SME Star Program identifies three stages of business development, with a corresponding recognition or award for each level. Stage 1 is the start-up or capability-building phase, and is recognized through the SME Rising Star Award given at the provincial level. Each province awards three SME Rising Stars — one winner each for the micro, small, and medium enterprise categories. A total of 249 start-up businesses are recognized as SME Rising Stars annually. Stage 2, identified as the market penetration or export awareness stage, is the next step in successful enterprise development. At this stage, outstanding businesses are recognized at the regional level with the SME Star Elite Award. Per region, one micro, one small and one medium enterprise is conferred the SME Star Elite Award; a total of 48 deserving SMEs will receive the recognition annually.
Nueva Ecija recently announced the province’s first-ever nominees to the SME Star Elite Awards, as follows: Kababaihang Masigla ng Nueva Ecija, Nueva Cabanatuan Meat Products, and Philnor Aqua, Inc. for the micro, small and medium enterprise categories, respectively. At the awarding ceremonies, Dr. Reynato C. Arimbuyutan, president of the Philippine Chamber of Commerce and Industry-Nueva Ecija chapter noted that, “The awards might be the key needed to open the interest of businessmen to improve the competitiveness of the province.”
The SME Star Program is seen as an important component in MSME development and promotion, as it recognizes outstanding entrepreneurs that have shown remarkable achievements in growing their businesses to become globally competitive enterprises.
As part of the SME Week celebration in July, President Benigno Simeon C. Aquino is expected to launch the search for the national SME Star Presidential Awardees from among the top SMEs in the country, particularly those that have successfully expanded operations in the domestic market or become globally competitive. One SME Star Presidential Award winner will be announced in 2012.


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