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Saturday, April 29, 2006
Land Bank launch search for oustanding SME, OFW
The search for outstanding Land Bank-assisted small and medium entrepreneurs (SMEs) recently kicked off with new categories that include awards for Overseas Filipino workers (OPFWs) that are managing successful businesses.
The Land Bank of the Philippines’ Gawad Entrepreneur 2006 Award seeks to recognize the exemplary performance and significant achievements, particularly in harnessing economic development in the community, of SMEs and OFWs with businesses.
It also aims to provide SMEs with incentives to further improve their operations and be at par with international standards.
Land Bank of the Philippines (LBP) acting president and chief executive officer Gilda Pico said the “SME Bagong Bayani Award” is a special citation in support of the country’s OFWs and in recognition of their significant contributions in economic growth.
Benefit
“We want to give due recognition to OFWs whose earnings from working abroad were used to operate profitable business enterprises that provide direct benefit or income to its customers and suppliers,” she said.
LBP’s Gawad Entrepreneur, which is now on its third year, has three award categories for SMEs: entrepreneur of the year, which involves a P350,000 prize; outstanding agri-based entrepreneur with P250,000 prize; and outstanding non-agri based entrepreneur, also P250,000.
Five special awards will also be given to SMEs that will each receive P150,000: Entrepre-Youth, Gabay at Patnubay, Panimula, Kayamanan ng Pamayanan and Bagong Bayani.
In line with President Arroyo’s 10-point agenda which include, among others, prioritizing support programs for the SME sector, as of end of February this year, the LBP’s outstanding loans extended to the country’s micro enterprises and SMEs stood at P18.8 billion. (PR)
For Bisaya stories from Cebu. Click here. (April 29, 2006 issue)
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