The Small and Medium Business Development Foundation (Philsmed) is seeking funding from the United States Agency for International Development (USAid) to implement a matchmaking program with the US Chamber of Commerce.
The program is expected to help establish long-term business relationships between Filipino and American businessmen.
Philsmed president Mina Gabor said the USAid funding was crucial in implementing the matchmaking program in the Philippines that would require close to P50 million in annual funding for the next three years.
"We (the SMEs) really need this program in order to build our capacities and penetrate overseas markets," Gabor said.
Philsmed is a private-led organization composed of 2,000 SMEs formed in 1992 to promote the interest of small Filipino businessmen.
Source: Philippine Daily Inquirer
