THE Negros Women for Tomorrow Foundation (NWTF) is hosting today a business summit positioned to boost local enterprises, especially on expanding their businesses.
NWTF is a non-government organization (NGO) that provides microfinancing services to about 350,000 clients in the Visayas, particularly in Negros, Cebu and Panay, and other parts of the country, including Batangas and Laguna.
Themed “Transforming Lives through Entrepreneurship,” the one-day activity at Sugarland Hotel in Bacolod City gathers at least 450 participants, mostly from microenterprises in Negros Island.
Gilbert Maramba, assistant director for operations of NWTF, told SunStar Bacolod that the summit mainly aims to gather some of their successful client-enterprises and further equip them in sustaining business growth.
He said that as these businesses become bigger, their needs also change. Thus, these needs should be identified, put together, and addressed.
“We are gathering them to formalize their businesses so they will be ready and empowered for future endeavors,” Maramba said, adding that the business summit is also a platform that will help formalize local micro, small and medium enterprises (MSMEs).
The NWTF has tapped various government agencies like the Social Security System, Philippine Health Insurance Corp., Department of Labor and Employment, Pag-Ibig Fund, and Bureau of Internal Revenue, among others, to extend their services to participating enterprises.
Among these services include processing of employees’ social benefits and business registration, which are vital in expanding the business operation and market, Maramba said.
The summit, which is supported by the Department of Trade and Industry (DTI), also includes focus group discussions to identify other needs of the enterprises for expansion.
Also set is the launching of the Client Services Center, which will work on designing programs and trainings for clients.
“Aside from formalizing and equipping enterprises to expand, the organization will also work on assisting them how to invest in other ventures,” Maramba said, adding that “it is really our vision to build vibrant communities where economic activity is fast moving.”
Aside from microfinancing, NWTF has also been providing trainings on financial literacy and bookkeeping, among others, to help MSMEs protect their businesses.
Maramba said they recognize that micro-entrepreneurs should be assisted as these are emerging small and medium enterprises.
They are instrumental in nation-building especially on building the economy of their respective communities, Maramba said.
“Their expansion would also trickle down positively to their communities as creation of more enterprises results to generation of more local employment,” he added.