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Friday, June 02, 2006
PBSP, BID look for SME coaches
The Philippine Business for Social Progress and the Business In Development (BID) Network are inviting all professionals and experts in production, marketing and finance from various sectors to assist small and medium enterprise participants of the second International BID Challenge.
The BID Challenge is an international online business plan competition supporting innovative business ideas to reduce poverty in developing countries at a profit.
Support
It aims to stimulate and support business ideas that combine making profit with the improvement of living standards in developing countries. It is also geared at encouraging private sector growth in developing countries by creating a platform where entrepreneurs, expertise, network and investors can meet.
The BID coach will serve as the mentor for the entrepreneurs wielding the business ideas, helping them develop a solid, complete and bankable business plan. More than just reading, reviewing and testing the feasibility of business plans, a coach must be a sort of sparring partner and provide gateway to knowledge, expertise and network for the entrepreneurs.
Areas of expertise of coaches being eyed include farming, particularly coffee and coconut, housing, energy and others.
The rewards of being a coach may not be lucrative but the gains are intangible and far-reaching, and certainly for a truly worthy cause.
BID Challenge coaches will be matched with the right entrepreneur students on the basis of sector and target country of the business plan and sector. They must also have country expertise, as well as the sort needed by a participant.
Coaches are expected to provide their input until June 20. (PR)
For Bisaya stories from Cebu. Click here. (June 2, 2006 issue)
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