Training center for micro entrepreneurs pushed

ORGANIZING the Search for Winners or Women In Need Now Entrepreneurs and Role models for the past three years, the Mandaue Chamber of Commerce and Industry (MCCI) is exploring the possibility of setting up facilities that will continue to support micro and small entrepreneurs in Mandaue City.

Carmel de Pio Salvador, Search for Winners chairperson, said that the working committee for the Search for Winners is now looking at setting up a training center and a bank that will focus on serving the basic financial and technical needs for women entrepreneurs.

“I really think this is doable and will really get support not only from the business community or the private sector but also from the public sector,” Salvador said.

She said they will start with the training center since it is the most important area where startup micro and small entrepreneurs can learn more about managing the business and growing them.

Funding solution

Since funding is also one of the biggest barrier for startups, Salvador said a small bank should be a good way to address that as well as looking at existing products offered by financial institutions which the entrepreneurs can tap.

“Today, there are several credit card companies that even introduced a dedicated credit card for women. Why not a bank?” she said.

Establishing a bank for startup women entrepreneurs is very important to raise the bar in providing financial assistance to micro entrepreneurs and help these startups avoid loans that will eat up their profits because of very high interest rates instead of helping them grow, Salvador said.

Salvador, who was once a startup woman entrepreneur and now running a major logistics company, said that she really hopes the project will be realized soon as a jump off of the Search for Winners program which is also her “baby” project.

Create jobs

Salvador said the MCCI recognized the importance of having these facilities in Mandaue City because it could help the local government in encouraging entrepreneurship; thus, helping create jobs for the people.

“We have been holding the competition for women entrepreneurs with inspiring stories to encourage more to follow them. We think we are already effective in that; and now we think that the best thing to do to move forward is to put enabling mechanisms like support facilities,” she said.

Salvador added that this year, the program got support from the Asian Carriers Conference (ACC) and the Cebu Provincial government also expressed interest to make the program a province-wide activity.