CEBU, Philippines - Capacitating entrepreneurs in the locality — or in barangays — will bring growth to the grassroots.
Speaking during the "Negosyo sa Barangay" forum in Cebu City last Friday, Virgilio Espeleta, vice president for business development, said it is important to build a stronger entrepreneurship culture in localities.
"There's economic activity in Cebu," Espeleta said, urging people to take advantage of this by becoming entrepreneurs.
He said growth in the barangays cannot keep pace with macroeconomic growth.
One way to address this, he said, is to develop more small entrepreneurs who will create jobs and income.
CCCI President Melanie Ng said: "We should not just be consumers, we should also be doers, manufacturers of products for local consumption and export."
They said there is a need to inspire and change the mindsets of the people in the grassroots level to develop their own enterprises and become financially able.
In a previous policy note, the Philippine Institute for Development Studies said barangays should be more effective in spending their limited funds to harness the economic capabilities of their communities and entrepreneurial spirit of their people for development outcomes.
In the conclusion of that study, PIDS said local autonomy would mean the economic empowerment of the people as contributors to inclusive economic growth in their localities and catalysts of positive change.
"It is hoped that economic empowerment would translate into political empowerment in order for Filipinos to be able to end their human poverty and address the root causes of the country's institutional problems. Thus, it is imperative for barangays to provide an enabling environment and facilitative conditions to realize such economic and political potential," PIDS noted. – (FREEMAN)
Speaking during the "Negosyo sa Barangay" forum in Cebu City last Friday, Virgilio Espeleta, vice president for business development, said it is important to build a stronger entrepreneurship culture in localities.
"There's economic activity in Cebu," Espeleta said, urging people to take advantage of this by becoming entrepreneurs.
He said growth in the barangays cannot keep pace with macroeconomic growth.
One way to address this, he said, is to develop more small entrepreneurs who will create jobs and income.
CCCI President Melanie Ng said: "We should not just be consumers, we should also be doers, manufacturers of products for local consumption and export."
They said there is a need to inspire and change the mindsets of the people in the grassroots level to develop their own enterprises and become financially able.
In a previous policy note, the Philippine Institute for Development Studies said barangays should be more effective in spending their limited funds to harness the economic capabilities of their communities and entrepreneurial spirit of their people for development outcomes.
In the conclusion of that study, PIDS said local autonomy would mean the economic empowerment of the people as contributors to inclusive economic growth in their localities and catalysts of positive change.
"It is hoped that economic empowerment would translate into political empowerment in order for Filipinos to be able to end their human poverty and address the root causes of the country's institutional problems. Thus, it is imperative for barangays to provide an enabling environment and facilitative conditions to realize such economic and political potential," PIDS noted. – (FREEMAN)
