QUEZON CITY, Philippines — Parañaque City 2nd District Representative Brian Yamsuan is advocating for increased budget allocations for government initiatives that foster entrepreneurship and support micro, small, and medium enterprises (MSMEs) under the proposed ₱7.2-trillion national budget for 2027.
“Increasing the allocations for these programs would benefit more Filipinos and boost entrepreneurship as an engine of our country’s economic growth,” Yamsuan said.
During a meeting of the House Budget Amendments Review Subcommittee on Thursday, October 1, Yamsuan expressed support for an additional ₱870.5 million for the Department of Social Welfare and Development’s Sustainable Livelihood Program (SLP).
He also backed a ₱50-million funding increase for the Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry responsible for implementing the Pondo sa Pagbabago at Pag-Asenso (P3) Program.
The SLP offers seed capital and capacity-building training through its Enterprise Development Track, while its Employment Facilitation Track offers financial aid to job seekers and technical-vocational trainees. SBCorp provides MSEs with low-interest, collateral-free credit options to support business expansion.
“I have seen how SBCorp functions and I have seen how many small businesses in my district have been helped by SBCorp,” he noted.
Beyond funding increases, Yamsuan is pushing for legislation to permanently institutionalize both programs. He authored House Bill No. 9472, or the proposed P3 Act, to create a dedicated P3 Fund.
Under the bill, MSEs can access microloans without collateral, with monthly interest capped at 1% for direct loans and 2.5% for loans facilitated through accredited partner institutions, with earnings re-invested into the fund.
“We should institutionalize the SLP so that later on, our kababayans would always have access to this kind of opportunity to improve their lives,” he said.
Yamsuan emphasized that passing statutory measures for the SLP and P3 would safeguard these initiatives from political shifts and annual budget fluctuations.
“Our proposed measures will ensure the continuity of these programs and secure their regular funding through the national budget,” the lawmaker added.