MANILA, Philippines – As businesses gear up to reopen after more than two months of lockdown, how can financial rehabilitation help them stave off bankruptcy?
Whether large or small, many businesses have been negatively impacted by the global pandemic that temporarily shut down industries around the world. Because of this, experts pointed to likely surge of bankruptcy filings – especially among small businesses – in the next months. (READ: Tita Carms: Life as a sari-sari store owner during coronavirus outbreak)
In the Philippines, micro, small, and medium enterprises (MSMEs) form the backbone of the economy, making up 99.52% or 998,342 of all businesses in the country as of 2018. According to the Department of Trade and Industry, more than half of these businesses were forced to stop their operations entirely during the lockdown.
To help guide MSME owners stave off bankruptcy through sound financial management during the pandemic, Project Lifeline is holding a webinar on Thursday, May 28, at 4 pm. Mosveldtt Law Offices launched the campaign in collaboration with the Union Bank of the Philippines (UB), BounceBack PH, and Rappler.
Joining the webinar are Vincent Rapisura of SEDPI Group of Enterprises and Aldrich Fitz U. Dy of Mosveldtt Law Offices. Rappler multimedia reporter Ralf Rivas will be moderating it.
To register, visit this link or sign up below:
You will receive instructions on how to join the webinar soon after you register. – Rappler.com
Project Lifeline is a partnership between UnionBank, MOSVELDTT Law, Rappler, and Bounceback PH to provide legal and financial solutions for business owners. Just sign-up here and let us help you.