Cebuano entrepreneurs urged to make use of gov’t programs

CEBU, Philippines —   Cebuano entrepreneurs are urged to take advantage of the various programs offered to micro, small and medium enterprises (MSMEs) by the government, as these will assist them in their growth path.

In her recent visit to Cebu, Ma. Alegria “Bing” Limjoco, former president of the Philippine Chamber of Commerce and Industry (PCCI), said that the government has various programs that entrepreneurs could utilize to scale up their businesses.

She highlighted that several government programs, including those with the Department of Trade and Industry (DTI), are in collaboration with PCCI. She mentioned the P3 Program (Pondo sa Pagbabago at Pag-asenso), a funding initiative designed to offer an easy and quick alternative financing source for micro-entrepreneurs. Additionally, she discussed the Kapatid Mentor ME (KMME) program, which aims to help MSMEs grow their businesses through coaching and mentoring.

Limjoco was one of the resource speakers during the Cebu Chamber of Commerce and Industry’s (CCCI) “Padayon Cebu: A Summit to Inspire, Promote and Grow SMEs”. The two-day summit held at the Cebu Sports Club was part of the series of events of the ongoing Cebu Business Month (CBM 2024) celebration.

According to Limjoco, entrepreneurs can work hand in hand with the government, particularly coordinating with DTI, such as making use of the agency’s Negosyo Centers, a facility responsible for promoting ease of doing business and facilitating access to services for MSMEs.

She also mentioned another program, PPG (Pangkabuhayan sa Pagbangon at Ginhawa). This post-disaster response initiative by the DTI focuses on livelihood seeding and entrepreneurship development, aiming to assist individuals and families affected by fires, calamities, and health disasters like the Covid-19 pandemic in recovering and starting their businesses.

In her talk, Limjoco also urged Cebuano entrepreneurs to be proactive in keeping their businesses up-to-date, which includes embracing the new way of doing business, such as embracing technology, as well as considering franchising as the fastest way to grow their businesses.

An advocate of franchising, Limjoco also urged business owners and aspiring entrepreneurs in Cebu to consider franchising, if they were to take advantage of the fertile consumption-led economy in the country.

“We urge our MSME owners to contemplate on franchising as a viable growth strategy. We have an abundance of resources to assist you in your franchising journey,” said Limjoco.

Limjoco, often referred to as the “mother of franchising” in the Philippines, explained that the franchising model enables an entrepreneur to manage risk and maintain full control of the business, even though the business is owned by someone else.

She added that franchising enables businesses to expand quickly with lower capital investment and risk by leveraging the efforts of franchisees, who have a vested interest in the success of their respective locations.

Limjoco mentioned some of the most successful Filipino mom-and-pop businesses that have grown into well-known national brands, such as Potato Corner, which was acquired by the global pizza chain Shakey’s two years ago.