Table 3
Past Supply
Year
|
Percentage of Purchases
|
Target
Population
|
Annual
Supply
|
2017
|
25%
|
92,241
|
23,060
|
2018
|
25%
|
111,070
|
27,768
|
2019
|
25%
|
104,701
|
26,175
|
B.2.2. Projected Supply
The annual increase of supply for the years 2021-2023 is based on the average annual growth rate of number of SMEs from 2017-2019 of 7%. The annual projected supply was obtained by multiplying the percentage of purchases which is 25% to the target population. Since the statistical data for 2020 on the number of SMEs is not yet available, the average annual growth rate of 7% is applied to compute for the estimated number of SMEs in 2020. Based on the foregoing, the estimated number of SMEs in 2020 is 112,030 (104,701 x 107%). This is the basis for the computation of the projected target population in 2021.
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