Micro, small and medium enterprises generated 762,840 new jobs during the one-year period from July 2011 to June 2012, according to the Department of Trade and Industry (DTI).
This translates to 75 per cent of the total new jobs created in the last 12 months.
The figures were revealed by DTI Undersecretary Merly M. Cruz in a statement released last week.
Cruz credited this to government efforts in developing local enterprises to enable them to contribute to employment generation. She said that the mSME sector has long been recognized for its strong potential to help the country attain inclusive growth and battle poverty.
The DTI statement cited other positive figures on mSME performance: P24.67 billion generated sin domestic sales and $586.04 million in export sales; and P43.51 billion in total investments.
One million micro enterprises obtained loans of micro-financing programs to the total amount of P25.31 billion in loans.
In SME financing, P22.68 billion was extended to 11,907 enterprises.
By 2016, the MSME Development Plan 2011 to 2016 targets 40 percent contribution of the sector to total value added and two million to total jobs.
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