SMALL and medium-sized enterprises, or SMEs, influence the growth and development of our economy. Hence, any improvement in the sector can result in the betterment of our country. But is this economic driving force assertive enough to take us to the next level?

Economists believe that an upper-middle income status for the Philippines is still achievable next year. We are currently at the lower-middle income level, with a $4,230 gross national income (GNI) per capita according to 2023 statistics. To move up, we need to reach at least a GNI per capita of $4,512. While that appears just an inch away, any 'per capita' movement at a macro level is no small feat.