DOST Siquijor pushed for the technological assistance of the new batch of micro, small and medium enterprises (MSMEs) from among the priority sectors identified by DOST through the Small Enterprise Technology Upgrading Program (SETUP).
The agency has allocated amounting to a total of PhP4,755,387.00 to 11 beneficiaries – 6 food processors, 4 firms were under the metals and engineering sector, and 1 furniture shop. The number of MSMEs assisted this year was up 10% compared to last year’s 10.
Of the total amount, DOST Siquijor PSTC has allotted over 58% or PhP2,764,000.00 of the total assistance to food processors, 37% or PhP1,776,500.00 went to the metals and engineering firms while only 4% or PhP204,887.00 were given to the furniture sector. All amounts were in varied portion as the agency were dependent on the sectors which approached DOST Siquijor PSTC for possible assistance on a first come first served basis.
Food processing firms in the province which became eligible to the DOST SETUP assistance were Seth Algen General Merchandise, Three K’s Homemade Meat Products, DMJ Meatshop, TSG Food Processing, Batutay Meatshop, and Joan Edayan Delicacies.
The firms which are classified under the metals and engineering sector were Bido Machine Shop, Nabutay Welding Shop, Uno Siete Electrical and Auto Shop, and Kustom Bike Modification also became DOST SETUP clients.
This year, the agency had only its lone client from the furniture sector. DAC Enterprises received its assistance to finance the purchase of identified processing equipment.
However, the total assistance received by Siquijor’s MSMEs this year was down 38.81% year on year which translates to PhP3,009,791.00. This was due to lesser amounts availed by this year’s beneficiaries. In 2016, MSMEs in the province received a total assistance worth PhP7,755,178.00 on the same program.
The said funds will be used by the MSMEs to procure the identified equipment and machineries as stipulated in the notarized memorandum of agreement. Beneficiaries under the food processing category will also be able to use the funds for the laboratory analysis and packaging and labeling of their products.
In return, the beneficiaries will pay monthly the total amount for 36 months through post dated checks. This means that the equipment procured will remain property of DOST until beneficiary opts to pay to 0.5% of the total assistance on the 37th month.
Of the 11 SETUP clients in the province, 9 had already received their assistance while the remaining 2 are to receive their assistance in Q1 of 2018.
written by: Engr. Reinhold Jek Y. Abing, SRA/IO-designate