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A Regional Competitiveness Committee (RCC) sets up in eight different provinces and key cities in the country, including Cebu, to gather economic data about provincial communities, and how these fare when compared other Association of Southeast Asian Nation (ASEAN) cities.

The committee is a public-private sector body created to develop strategy for the long-term competitiveness of the Philippines through policy reforms, project implementation and monitoring performance among others.

The RCC network—which includes Cagayan de Oro, Tacloban City, General Santos City, Davao City, Batangas City, Legaspi City, Iloilo City and Cebu— is expected to be in place by June.

The creation of the RCC paves way for the country to be more competitive as each region, city or province would become aware of their strengths and weaknesses. The information of each region, city or province can guide improvements on their individual competitiveness and the whole country’s competitiveness.

The RCC would benefit Cebu because it would become a venue for the stakeholders to work together and gather the economic data according to indices which include basic economic information like population, wage rate, infrastructure, and quality of life, education, safety and health, cost of doing business, and the human resources available here.

A British businessman gave up his millionaire’s lifestyle in London to develop a company that sells all Philippine-made, natural products.

Once among the top nine richest people in the United Kingdom under 30, Dylan Wilk drove fast, fancy cars and lived in luxury in the best hotels, but it did not make him happy.

A change to all that came through a trip to the Philippines that led him to meet and interact with the Gawad Kalinga Foundation, an organization which forms and build communities and sustainable livelihood to end poverty.

This made him realize what he wanted to do with his life, and it did not involve making himself even richer.

In November 2008, he started Gandang Kalikasan (Natural Beauty), a social enterprise that produces natural, Philippine-made personal care products under the brand “Human Nature“. The enterprise provides livelihood and income for Gawad Kalinga villages and other poor communities who produce the raw materials for Human Nature products.

The brand has 20 branches nationwide and offices in the USA. It has also turned out more than 300 products in two years.

Rather than pay for the lowest possible price, Wilk and Gandang Kalikasan help farmers to earn enough for all their efforts. Instead of paying farmers a mere pittance of 10 pesos for each kilo of raw materials, Gandang Kalikasan buys at PhP3,000 per kilo to uplift the lives of the farmers.

Wilk’s enterprise gave the profits of the first three months to the farmers so they can pay for equipment needed for planting, harvest and extractions for the natural ingredients used in Human Nature products.

Wilk and Gandang Kalikasan take pride in the Human Nature brand and products to being pro-agrarian, pro-environment and pro-Filipino

The social entrepreneur’s passion to help the less-fortunate comes from own his humble beginnings. He felt lucky that his government used taxes to send people like him to school as every time one around the world bought British-made products, the profit went to the country. And that sent him to school.

When he embarked on a his first business venture Gameplay which sold video games, banks would not loan him money yet he was given a £2,500 (PhP175,000~) loan by The Prince’s Trust.

When he turned 25, Wilk’s Gameplay company was listed on the London Stock Exchange. Wilk’s became the youngest director of a public company in the UK.

He admitted that even himself, like most entrepreneurs have been taught to maximize profit while paying suppliers very low. Wilk said he decided to change that.

Having come from a poor family, Wilk said he felt it was payback time for him, and he wanted to optimize profit by involving local farmers and businesses in his enterprise. Wilk said that even if it meant spending more for packaging, he decided to seek services from a local business to do the packaging for his products.

Wilk believes that in order for the Philippines, or anywhere for that matter, to change for the better– local big and small businesses have to love their communities and its natural resources to serve its people, on all levels.

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Source:

Aznar, Mia. "British businessman blazes
trail in helping Pinoys." 14 August 2011.
The Sunstar Cebu. Accessed 15 August 2011.
Link Here.

Creative industries have their origin in individual creativity, skill and talent and that have a potential for wealth and job creation through the generation and exploitation of intellectual property. Creative industries encompass major segments including: artisanal products; visual arts; performing arts; cinema and audiovisual media; literature, books and publishing; and others.

The UNCTAD/UNDP classification of creative industries is divided into four broad groups: HERITAGE, ARTS, MEDIA, AND FUNCTIONAL CREATIONS, including creative services such as architectural, advertising, cultural and recreational, creative research and development (R&D), digital and other related creative services.

In celebration of the 15th year of Cebu Business Month (CBM) this June, the Cebu Chamber of Commerce and Industry (CCCI), the Department of Trade and Industry (DTI)-Cebu and in partnership with multi-sectoral stakeholders such as the Creative Cebu Council, are pleased to invite you to the “1st CEBU CREATIVE INDUSTRIES SUMMIT” on June 21 – 22, 2011 at the City Sports Club Cebu.

Headlining the theme “Entrepreneurship Interface with Creativity and Innovation,” this 2-day Summit features the Creative Industries as the country’s new growth sector and a source for business/economic opportunities and a promising avenue to expand your strategic alliances/business tie-ups.

The Summit will present valuable insights, updates, discussions, and action programs on creativity and innovation as drivers of economic development in the Philippines and the world market; strengthen appreciation on the practical value of intellectual property (IP) rights; promote exchange of knowledge, experiences and approaches to creative entrepreneurship and “technopreneurship;” and share best practices on creativity and innovation for business excellence, growth and global competitiveness.

Participation fee is only Php 600.00 for the 2-day Summit, if paid on or before June 15, 2011.

Beyond June 15, registration fee will be Php 800.00. Owing to limited seats, confirmation of participants is required, so we encourage you to avail of the early bird rate of Php 600.00, which already covers lunch and AM/PM snacks for 2 days and presentation materials.

For information and reservations, please contact the Summit Secretariat at tel. nos. 253-2631 local 18; 412-1863; fax: 254-0840; 412-1856 (look for Tessie Emphasis or Kim Estalani), or email cebubusinessmonth2011@gmail.com.

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Risk is always present in business. Any business ventures carry both a significant amount and diversity of risks. In many businesses and companies however, risk management is taken for granted. There is also a lack of understanding on what constitutes risk management.

In most cases, risk management is thought to be limited to just liability insurance. In reality, risk management can encompass a much broader business scope.

Most managers and executives recognize that it is necessary to identify business risks, rank them in order of severity of impact to the business and create actions to mitigate, if not eliminate, the risks. But between recognizing and taking concrete steps to manage risks lies the difference between a sustainable and a short-lived business.

This is especially true for start up businesses. This is also true for new projects and products. In the exuberance that the product will be successful, all the potential pitfalls are literally taken for granted.

If risks are ever present, who should manage them and is responsible for identifying and managing business risks?

The answer to that is risks should be managed by everyone in the company, from the top boss down to the employees who face the customers on a regular basis. Managing risks has to be approached and mitigated (if not eliminated) on a multi-dimensional basis.

The severity and the type of risk vary and will almost inevitably be present in all the hierarchy and functional units of the company. And also importantly, it will vary from business to business.

There are countless types of risks in a business but risks present are also different for different businesses.

The key is to be able to identify those risks that are relevant to the business and the environment it operates include competition, technology and regulatory, to name a few.

The next step is to rank those critical risks and create measures to mitigate if not eliminate the risk.

To manage risks spells the difference between success and failure.

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Source: 
Ortiz, Roberto. "Risk Management." 9 June 2011.
The Manila Bulletin. Accessed 10 June 2011.
Link Here.

In communication, trust is a must. A team needs to be able to trust the reliability of a leader and his/her words. Deceptive leaders do not enjoy long-term influence. Time will reveal them as frauds.  A solid platform of lasting leadership is built on trust.

Here’s how one achieves that platform.

1) Build Character.

The effectiveness of communication relies more on the character of the messenger than on the content of the message.

Philosopher Ralph Waldo Emerson said, “What you do speaks so loud that I cannot hear what you say.”

Leaders who consistently display integrity in their actions prove themselves trustworthy and gain respect. On the other hand, cracks in a leader’s character drown out his words.

If a leader couldn’t connect with teammates, the leader must examine his/her character. Concentrate on solidifying one’s inner makeup to magnify volume of one’s words.

2) Be Accountable.

Establishing credibility in communication takes time; the right to be heard must be gained through proving trustworthiness.

Enter every relationship with a certain degree of trust, and every interaction either deposits more trust in your account or withdraws some from it. Pay careful attention to relational account balances and do everything possible to keep the levels of trust high. Every promise made creates hope, and by honoring commitments, reliability is achieved.

3) Deliver Results.

Practice what one preaches, share the insights learned through experience.

Nothing speaks louder than resounding success. If the ear of one’s team is what one wants to win,  then deliver results prior to delivering speeches.

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Source:
Maxwell, John. "Communicating Credibly: More
than Lip Service." 8 May 2011. The Philippine
Daily Inquirer. Accessed 30 May 2011. Link Here. 

“Difficulties mastered are opportunities won.” Winston Churchill.

The British Council is in search of young entrepreneurs who have business plans that aim to address social concerns, to encourage entrepreneurs to see problems as sources for opportunities.

The British Council launches its third “I am a Changemaker” competition this June 2011 and promises PhP100,000 cash seed money to the winning business plan.

The “I am a Changemaker”competition is open to Filipinos aged 16 to 28 years old.

The compeition aims to provide a vehicle for taking innovations from idea to reality and is considered a real-world exercise for improving on starting a business, pitching ideas to possible investors and building networks.

The enterprise proposal should mainly focus on addressing a social problem. Social enterprise is broad and there are countless ideas that can be proposed.

The venture should have demonstrable financial viability, whether for profit or non-profit. The proposal should not be entered on behalf or as a sub-project of a private company or local government unit and should not have won in other business plan or project grant competitions of the same magnitude.

The entries will be judged on its overall concept, community impact, sustainability, risk assessment and contingent plans, market, and management team.

Even if applicants do not win, there is the chance to raise the interest of some investors who were present during the competition.

There is also the Starbucks Shared Planet prize, for which applicants will be judged on community service or involvement, environmental stewardship, ethical sourcing, diversity and wellness.

There will be four winners each from Luzon, National Capital Region, Visayas and Mindanao and a fifth winner to be awarded by Starbucks’ Shared Planet.

Aside from awarding winners with seed money, an outside body will monitor the winners to see how they can spend the prize money wisely.

Last year’s winner from the Visayas was a group from Cebu, Gasa sa Guso Group, a project to bring an alternative livelihood to the residents of Pangan-an Island in Olango by seaweed farming.

British Council “I am a Changemaker” competition will begin accepting applications next month until 5 p.m. of September 23. Shortlisted proposals will be announced on October 7 while the startup training will be on October 24.

Final presentation and awarding will be on October 28.

Find out more here from the British Council (Website) or request for further information on submission guidelines through their email: britishcouncil@britishcouncil.org

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Source: Aznar, Mia. "Search on for social entrepreneurs."
4 May 2011. Sun Star Cebu. Accessed 6 May 2011.
Link Here.

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The 15th Cebu Business Month (CBM) is officially launced by the Cebu Chamber of Commerce and Industry (CCCI) for the entire month of June 2011, with a commitment to help business players from Cebu, and neighboring cities in provinces of the Philippines, effectively take advantage the world business arena… “Going Beyond Boundaries.”

The CBM 2011, with its Expo, will serve as the meeting place of all industry players where in tourism, BPO/ICT or MSMEs. It will feature a job fair—open to all jobseekers, and a varied showcase of companies and organizations providing products, services, among others.

This year’s CBM is all about the advancement and advocacy sustainable economically-inducing activities that will enable Cebu businesses to maximize their potential.

Events are lined up to promote three key sectors: the Business Process Outsourcing/Information Technology (BPO/IT), Tourism and Entrepreneurship—the micro, small and medium enterprises (MSMEs) with the blueprint of “Moving forward, out of the usual comfort zone.”

Issues and challenges in business continuity, development and progress will be tackled in each of the sector’s summit, plenary sessions, seminars, forum, among others.

Calendar of Events for Cebu Business Month June 2011, click for viewing

The main thrust of the BPO/IT sector will be magnified during the this month’s BPO/IT Summit. Through “Actualizing the Cebu BPO/IT Roadmap,” stakeholders, with the help of international industry experts, will find out the effective solution on how Cebu could further grab a bigger bite in the USD125 billion BPO/IT industry worldwide.

For the Tourism sector, the CBM 2011′s Tourism Summit will confer on the opportunities that Cebu can take advantage of in the “Open Sky Policy”, as well as further exploring the unexplored destinations, and sites within the Cebu province. The summit will also highlight the development of the “Suroy-Suroy sa Sugbu”, which was a concept introduced during CBM celebration long time ago, in coordination with Cebu Provincial government.

The Entrepreneurship component, headed by Department of Trade and Industry Cebu Provincial Office (DTI-CPO) director Nelia F. Navarro, will focus more on the development of Cebu’s Creative Sector, although other sectors in the MSMEs will also be given importance.

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Source:
Dagooc, Ehda. "CCCI officially launches 15th Cebu Business Month".
6 May 2011. The Freeman. Accessed 6 May 2011.
Link Here.

Robust growth will be driven by economic powerhouses China and India. The IMF forecasts China’s economy will grow 9.5 percent while India will expand about 8 percent over the next two years.

IMF warned however of ” overheating” across the region as consumer price inflation rose to 4.5 percent in February. Higher oil and food prices are starting to feed into broader inflation and will affect the poor, the fund said. Inflation is also being driven by low interest rates in many Asian countries.
The IMF forecasts inflation will continue rising this year before easing modestly in 2012.

Earlier this week, the Asian Development Bank warned that surging food prices threaten to push millions more people into poverty and shave up to 1.5 percentage points off regional economic growth.

The IMF said turmoil in the Middle East and North Africa could also pose a risk by causing further spikes in oil prices, which would shave economic growth in countries reliant on oil imports, such as China and Japan.

Asian economies could also be affected if higher oil prices result in a global slowdown, which would result in a drop in demand from wealthy countries for their exports.

The IMF cut its forecast for Japan’s economic growth in 2011 to 1.4 percent from 1.6 percent because of the March 11 earthquake, tsunami and subsequent nuclear disaster, which left about 27,000 people dead and missing and is estimated by the government to have caused up to $305 billion in damage.

Economic damage is much greater than from the 1995 Kobe earthquake, the IMF said. Power supply interruptions are affecting a much larger region, including the Kanto region around Tokyo, which accounts for about 40 percent of Japan’s economy.

Source:
Chan, Kelvin. "Asian economies continue to lead the world."
1 May 2011. The Manila Bulletin. Accessed 2 May 2011.
Link Here.

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Aspiring entrepreneurs often encounter the discouraging challenge of raising the required capital or seed money for starting a business. This critical factor often puts the brakes on the passion for most wannabe entrepreneurs, leaving them stuck at square one.

If you’re about to start a business, get a reality check on where you’ll most likely get your seed money source so that you can focus your energy on getting the capital from them.

If you have no existing business, here are which institutions to avoid:

• Banks. Banks seem the likeliest candidate because that’s where cash practically lives, however banks are in the business of managing risk and not getting their necks out for nothing—the possibility of which, unfortunately, is too high for a startup that has no track record of survival. If you have no assets you’re willing to lose and guarantee in favor of the bank, you’ll get nothing.

• Credit cards. Credit cards have been written up in literature as a great source for short-term capital. In credit card lingo, short-term means one month. Credit cards are wisely used when you know that you already have the cash in the bank or are sure that it will arrive by the next pay date. The obligation and the capacity to pay are equally balanced. Exceeding that period by paying the minimum balance means paying for funding at rates you can’t assume at this stage. If you’re a startup, getting into this critically short funding period without the equivalent guarantee of covering it is financial suicide.

• Small-to-Medium Enterprises fund institutions. These financing institutions have the mission to develop small and medium enterprises; in fact, that’s their reason for being. Unfortunately, if you have no business to show, you won’t get any financing. These institutions normally support only entrepreneurs with assets, equity and collateral (no matter the variant) to show—in short, only those that exist and are able to show the business’ viability. If you’re a startup, you’re not even in their radar.

• Rich investors. Usually they are not interested in your line of business. A person who got rich on his/her own right means s/he was good at what s/he did. If you bring them to unfamiliar ground, this would seriously challenge what s/he knows s/he’s good at, and therefore, reduce his/her interest of funding your venture. Approaching a potential rich investor without doing research on his/her own business interests, his/her stage in life, and his/her general approach to doing business is a deal killer.

Find your starting capital/ seed money from what you already have.

Examples are as follows:

• Your personal savings. You have to at least have cash to spend as you build the business. Even if you find someone who will fork out the initial working capital, you will be reaching into your own pockets for all the preparatory work to sell the idea in a viable form (e.g. professional proposals, prototype, corporate identity, etc). If you come in without any money or have undertaken some prep work in building the semblance of a business, it will be a hard climb. If you don’t show some skin, people will think you’re not that interested in your proposed business to risk your own money.

• Friends and family. Your warm circle who love and support you. They’re your litmus test to check whether anyone outside of yourself will actually fund your idea.

•Suppliers. As a credit source, they provide one of the best—what you need when you want them. If you make them a preferred supplier or guarantee specific terms or rates over competition, you may be able to get what you need for your own business without shelling capital from day one.

•Profits from your business. Fueling your business with its own profits might be a slow climb but this is indubitably a sound strategy. Keep your hands off the cookie jar and instead, plow back as much money as you can in building the business. By the time you get around to external financing, others will see how much you’ve vested in a steadily growing business and would be enthusiastic to lend you more capital.

Source:
Navarro, Evangeline. "Where do I find seed money to start-up 
my business?" 2 May 2011. The Manila Bulletin. 
Accessed 2 May 2011. Link Here.

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Cebu City plans to declare an annual Korean Day to recognize the Korean tourists and settlers in the Queen City of the Philippines.

The City Council is mulling to set every first Saturday of October as Korean Day for Cebu City’s Korean community to celebrate their culture, customs and traditions to foster appreciation and good will.

With the Korean cultural wave, elations between Koreans and Cebuanos/Filipinos are further cemented through the years.

At least thirty Koreans from the different associations, including Korean news agency and Consul met with the City council to finalize the three-day event this coming October, which may include a street-dancing festival for the Koreans, pageants, concerts and film showings of Korean star performers.

A committee will be formed to come up with the activities and they will be submitting their proposed project to the city government. The city government is willing to extend financial assistance for the celebration.

The Cebu Korean Association welcomes the assistance promised by the city government. As of the moment, the Korean government has already approved the holding of a movie festival. The Korean embassy will also coordinate on the proposal of inviting Korean artists and holding of street dancing festival in Cebu City.

The Cebu city governments will provide a venue in the city to hold the Korean Day activities.

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