MANILA, Philippines - National Artist Nick Joaquin famously reflected on the Filipino’s heritage of smallness, with the humble sari-sari store as its famous epitome. Yet inside these cramped spaces, big and bright dreams shine through. Amidst life’s darker realities, the sari-sari store serves as a beacon of light for countless families.
And this path to prosperity is what Sun Life Financial-Philippines Foundation (SLFP Foundation) and MicroVentures Foundation (MVF) want to illuminate. This year, the foundation of the country’s longest-standing life insurer joins hands with the proponent of the globally acclaimed Hapinoy Store Program to help women micro-entrepreneurs in their journey towards financial freedom.
Shared vision
“The bond between Sun Life and MicroVentures runs deep,” surmised SLFP Foundation Executive Director Veronica Estrella. For instance, MVF Chairman of the Board Bam Aquino is a Sun Life ambassador, investor, and an It’s Time! financial literacy advocate. Empowerment also unites the alliance, both aiming to alleviate a poverty-stricken nation where 40 percent of the population lives below the poverty line.
SLFP Foundation nurtures the first sustainable and multimedia financial literacy advocacy called It’s Time! Started in 2009, the campaign has received critical acclaim in its unique, simple approach to insurance and investment. Last year, the first It’s Time! Awards honored individuals who have achieved great success in their journey to financial freedom.
Such mission complements the Hapinoy initiative, assisting sari-sari store nanays in rural areas through micro-financing and other development programs. The project ushered social entrepreneurship to the public eye, bestowed with several foreign aid grants while earning Aquino the honor of being a United Nations spokesperson. As of 2010, there are 160 Hapinoy Community Stores and 1000 Suki Stores in Batangas, Bicol, Cavite, Laguna, Quezon, Bondoc Peninsula, Rizal, Bulacan, and Mindoro. They plan to expand the program to 400 Community Stores.
“Together, Sun Life and Hapinoy want to share the light of a secure and stable future. Through proper financial management, our nanays and their families can grow their trade, send their kids to school, and save for their golden years,” affirmed Estrella.
Shared endeavor
As partners, SLFP Foundation would draw from its expertise as a financial services company in enhancing the projects of MVF, which is Hapinoy’s training and capacity building arm. “There are three phases in our Hapinoy development program, each catering to a different set of nanays and their families. Every phase puts emphasis on hard work and how sensible financial planning can make their money go a long way,” explained MVF executive director TJ Agulto.
Phase 1 is the Continuing Education program, focusing on both personal development and business management. For one year, Hapinoy nanays will learn how to grow and expand their opportunities. SLFP Foundation pledged to support 20 scholars through graduation.
Since the sari-sari store is also a family affair, Phase two is called the Masaya at Masaganang Pamilya seminar. Created by both Sun Life and MVF, this two-day event aligns the vision of prosperity between the nanays and their spouses or partners. Sun Life pledged to help in module development and supporting 25 couples.
For nanays who are just starting their store, Phase three would give them the know-how and confidence to ensure the growth of their business. Called the Sari-Store Negosyo training program, it is a series comprised of ten workshops. This can serve as their springboard to financial planning, for which Sun Life advisors would be readily available to provide assistance.
“We believe in the Hapinoy cause, and Sun Life is in a momentous position to serve the financial needs of our hard-working nanays. We can show them how to make their money work harder for them,” ensured Estrella. She noted that a common vision is the fuel that drives the partnership, giving dignity to underprivileged Filipinos by teaching them how to improve their lives not only financially but also as a family.
Shared brilliance
A visit to a Hapinoy store validates the difference that micro-entrepreneurship can make. The nanays are busy bustling about, attending to customers while balancing their finances in ledger notebooks. Of course, their husbands are lending a hand, either with deliveries or inventories.
Still, Agulto admitted that there is a long way to go in achieving the vision of Hapinoy. And he is glad that Sun Life is joining MVF in this journey. “Our nanays are commonly regarded as the ilaw ng tahanan (light of the home), and we believe that their brilliance can show the way out of poverty,” Agulto said. And it is with this shared light that the modest sari-sari store can change the lives of countless families. For Sun Life, it is an opportunity that truly embodies its mission to provide financial freedom to Filipinos – no matter where they fall in the socio-economic strata.
“Alluding to the powerful symbol of the Sun, the one shared light from our company and Hapinoy is a brilliant affirmation of our commitment to give back and better the conditions of the less fortunate. We want to show them that life is indeed brighter under the Sun,” Veron avowed.