The government must balance regulation with the growth of MSMEs and barriers to entry into the e-commerce space E-commerce has
The government must balance regulation with the growth of MSMEs and barriers to entry into the e-commerce spaceNow that the pandemic is over and the economy has opened up, consumers and businesses have embraced the benefits and convenience of online and e-Commerce platforms using cashless payment methods, thus creating an opportunity for the country to evolve into a thriving digital economy.
In December 2022, the proposed Internet Transactions Act passed the lower house and is now pending in the Senate. However, both large e-commerce platforms and MSMEs have expressed concerns about the current version of the proposed ITA, which is now pending in the Senate. Large platforms like Shopee and Lazada have their own legal departments to handle and resolve such cases, while e-commerce-based MSMEs may not have the legal capacity or resources to do so.
MSMEs may not have the manpower capacity to comply with these extensive guidelines, as most e-commerce small businesses operate with a small number of workers.
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