Senator Manny Villar believes that small businesses can lead the way towards recovery as the country recovers from a succession of typhoons that wreaked havoc to the economy, a press release from his office said.

“I have always believed that small and medium-sized businesses are the engine of our economic growth. After the devastation brought about by the recent typhoons, these businesses should be supported to spearhead our recovery,” Villar said in the press release.

He said access to affordable credit is very important to entrepreneurs.

Among the steps that would ease up credit and financing to small businessmen is to encourage small and rural banks as well as micro-finance institutions to provide loans to those affected by the recent typhoons, the press release said.

The size of government and bank loans to SME’s may also be increased.

Villar said many small and medium-sized enterprises were badly hit by the recent typhoons, many of which have lost supplies and equipment, thus they also need assistance and support to revive their businesses.

SME’s have a multiplier effect on the economy since they employ a huge majority of Filipinos, the press release said.*

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