MSMEDC approves its resolution on “Recognizing SEs as partners in Poverty Reduction and Inclusive Recovery”
The Micro, Small, and Medium Enterprise (MSME) Development Council Resolution No. 3, Series of 2021 “Recognizing Social Enterprises (SEs) as Partners in Poverty Reduction and Inclusive Recovery” was approved during the 16th MSME Development Council (MSMEDC) Meeting last December 13, 2021.
The resolution aims to recognize and support social enterprises and their role as partners of government in poverty reduction, the acceleration of the United Nations Sustainable Development Goals (SDGs), and inclusive recovery from COVID-19.
The approval of this resolution was a momentous step towards providing an enabling environment for social entrepreneurship stakeholders in the Philippines to grow and develop. The resolution outlines the working definition of social enterprises, including the main attributes that distinguish them from regular businesses, and the engagement with the sector to develop a package of programs and services responsive to their needs.