THE Provincial Micro, Small, and Medium Enterprise Development (MSMED) Council of Negros Occidental is urging entrepreneurs in the province to avail of various financial programs offered whether by government or private institutions.
Mary Ann Colmenares, chairman of Provincial MSMED Council, said that programs aimed at providing access to financing will enable local entrepreneurs to enhance their capacity, further strengthen, and level up their operations.
Colmenares said that access to finance is one of the four pillars of MSMEs development. The other three are access to market, productivity and efficiency, and business-enabling environment.
“Some entrepreneurs in the province are interested to start a business but have no resources thus, various financial services are huge opportunity for them to avail,” she said.
Colmenares, along with about 40 local entrepreneurs, attended the program orientation-seminar and launching of the BPI Sinag Accelerate program at the Sugar Industry Foundation Inc. (Sifi) Training Center in Talisay City on Wednesday.
BPI Sinag Accelerate is a joint-initiative of Bank of the Philippine Islands Foundation and Peace and Equity Foundation aimed at providing not less than P500,000 worth of financial support in form of loans or grants to 10 best enterprises with a social mission in the country.
Colmenares said the program is another opportunity for local entrepreneurs to avail.
“This will give us access to finance and access to market plus in the long run, it will improve our productivity and efficiency,” she added.
She also urged Negrense enterprises not to be discouraged of the tedious process of availing such programs as this is part and parcel of scaling up their respective businesses.
When an enterprise is scaling up, entrepreneurs have to become more professional and be guided in meeting the requirements set to avail the program, Colmenares said.
“What is good with the said acceleration program is that, it has bootcamps, business planning, and matching sessions which qualified enterprises can avail on top of the monetary support as prize,” she pointed out.
The Provincial MSMED Council, she said, will also work on further reaching entrepreneurs through city and municipal councils in local government units in the province.
“We have very good programs, but sometimes it cannot reach potential proponents,” Colmenares added.