Micro, Small and Medium Scale Enterprises (MSMEs) in Bulacan: A State Policy Analysis and Socioeconomic Impact Assessment

Abstract

The global integration of economies and the free flow of goods and services between countries have caused the Philippines to become vulnerable to foreign dominion and exploitation. Its characteristics of being export-oriented and import-dependent have resulted to the deterioration of local industries and the decline of employment opportunities. This research focuses on the analysis of state policies and the assessment of the socioeconomic impact of micro, small and medium enterprises (MSMEs) in the province of Bulacan. The objectives of this research are to review and assess the policies and programs that the government provide to the sector and to assess its impact to the province and the country particularly in the employment. It is significant to assess the current status of the MSME sector because of its vital role in the economic growth and development of the country. The researcher conducted interviews from entrepreneurs and surveys from their workers to acquire a comprehensive assessment and concrete results. Through these, the issues and challenges that MSMEs face have been revealed as well as the strengths and weaknesses of government policies and programs for the sector. Its impact to the socioeconomic situation of the province and the country in general has also been exposed.