THERE is now a call from a start-up company for the gov’t to further support Micro, Small and Medium Enterprises (MSMEs) in the country.
A Cebu-based start-up company has come a long way since opening during the height of the COVID-19 pandemic.
From producing personal protective equipment and facemasks, Uniform Solutions (UNISOL) has now become a world-class uniform company.
Starting with just a few tailors and employees, UNISOL now supports hundreds of families by producing all types of uniforms.
They specialize in uniforms for any company, sports, whether formal or semi-formal, state-of-the-art embroidery, and more.
As a start-up company, they seize every opportunity, especially with government offices.
However, due to the high demand from government offices, they now have a request for their clients…
Payments from government agencies are often delayed due to payment terms.
Typically, it takes 30 days, sometimes up to 60 days, before payments are received.
According to UNISOL CEO Jonas Quilantang, this is a common problem for small businesses—finding capital.
“That’s the dilemma we have. Because, how can we scale or support our operations if we are dealing with that kind of payment terms?” said Jonas Kee Quilantang, CEO, JKQ Uniform Solutions Inc.
With high volume, they struggle to find rolling capital for future clients.
Thus, they call on the government to ease payment terms and requirements to avail of loan programs.
“For SMEs without access to credit, we struggle with capital. So, just changing that mindset would help,” Quilantang added.
“If there is no support from the government, how can we stay afloat? By, of course, giving us fewer requirements when we need financial assistance. Because, what is happening right now… it’s the same requirements needed for a small business or a multinational business,” Leah Baltazar, COO, JKQ Uniform Solutions Inc. stated.
According to the Confederation of Wearable Exporters of the Philippines, 5,000 garment factory workers from nine companies nationwide will lose their jobs this year.
UNISOL does not want this to happen to their employees.
Thus, they, along with other start-ups and small businesses, urge the government to support local entrepreneurs.
UNISOL CEO to Government: Please Help MSMEs access capital
“There is government support in other aspects of the business, but the lack of access to capital hinders us from scaling towards a global business,” Quilantang expressed.
“Buy local, support local, pay fast and pay in cash. And that would be a great help for SMEs,” Quilantang added.
