In the choppy waters of Philippine politics, we are now navigating a storm of corruption allegations more scandalous than a telenovela plot twist. Having spent 20 years of my life championing MSMEs as the unsung heroes keeping our economy afloat, I’m here to sound the alarm, but not the abandon-ship kind. No, my call is for stability and continuity. After all, if we start rocking the boat too vigorously, we risk capsizing the whole vessel, passengers and all. And let’s be honest, in this archipelago nation, we’ve got enough real storms without manufacturing more.

Picture the Philippines as “Philippines Inc.,” a corporation where the President serves as CEO, the Cabinet as C-suite execs, legislators as the board and every citizen as shareholders. It’s a model that works in thriving economies across Asia, from Singapore’s squeaky-clean efficiency to Malaysia’s steady growth. But right now, our company is weathering a PR nightmare: a corruption scandal that’s eroded investor trust faster than a depreciating peso (which, by the way, just hit a low at a time when remittances ought to be counterbalancing the dollar’s strength).

Big firms with deep pockets might be able to dodge currency woes like pros, but MSMEs? They’re the lifeblood of our economy, often unexposed to forex fluctuations but deeply vulnerable to the ripple effects. When consumer spending dips amid uncertainty and when suppliers tighten credit, or remittances falter because overseas Filipinos question our future, these small players hurt the most.

No doubt the President has tough decisions to make. I don’t envy him this task, and it couldn’t have come at a worse time. He is more than halfway through his term and he has a big coming-out party called the ASEAN Summit next year. Worse, it must sting that all this trouble was brought on by people close to him.

I think the operative word here is “satisfaction.” People will not be satisfied with a rebuke, exile or forgiveness. Someone needs to go to jail. It will be the anchor that will steady the ship. But let’s not confuse reform with revolution. We had two big protests yesterday, and more might be coming unless people get some satisfaction. But toppling the administration now would be like firing the entire C-suite mid-crisis. Chaos will ensue and investors will flee to safer harbors.

And the MSMEs – already riding out high inflation and rising costs – will drown in the fallout. We’ve begun to shed the “Sick Man of Asia” tag, and we’ve been climbing steadily in the past few years, thanks to rising consumer spending and more government engagement with the private sector.

I have witnessed President Marcos work closely with the private sector in ways no previous president has. He’s accessible, hardworking and genuinely committed to economic progress. Could he have prevented this scandal? Maybe. Should those involved face consequences? Absolutely. But does that mean we throw away the progress we’ve made? That’s where I draw the line. Let’s let him finish the job because if he fails, we all lose.

Removal of the President would signal total disarray, turning our rising momentum into a nosedive. What’s happening now is unprecedented in its magnitude, and that’s precisely why we can’t afford to throw the entire system overboard. Those who are guilty must face consequences. Dismantling the administration or halting established systems that keep the bureaucracy going is not justice; it’s economic suicide. That’s when your boat starts to sink.

We can pursue justice without pursuing chaos. We can be angry without being self-destructive.

However, the President himself must demonstrate that family connections don’t protect the guilty. How he handles accountability will define the trust of not just the investors but also the taxpayers and voters.

As for MSMEs, they may appear to be miles away from the high-level investor roadshows and regional economic summits, but when foreign investment dries up, when the peso weakens further and when credit becomes more expensive, they will be the first to feel it and will be the last ones to recover. They can’t denominate their earnings in dollars. They just… survive. Or don’t.

I’m an optimist, but I prepare for rough seas and try and steer toward calmer waters. Mistakes happen, but we rise by learning. There are still good, competent people in government. Let’s fix what’s broken, punish who’s guilty, but keep the ship moving forward. If we sink this ship, we all go down together. We can rock the boat until everyone drowns, or we can steady the ship, make the necessary corrections and sail toward the future we’ve been building. I know which choice makes business sense.

 Originally Published in Philippine Star