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Cagayan de Oro
Saturday, May 21, 2022

Growing your small business (Concluded from last week)

These businessmen and women have been recipients of the Citi Micro-entrepreneur of the Year Awards (CMA) in the last 10 years since the program was created.

            The CMA Program, according to Microfinance Council of the Philippines, Inc. Chairperson Mila Mercado- Bunker, is “a celebration of economic triumph amidst great odds at the grassroots level.”

            “We have seen the transformation of these micro-entrepreneurs—from budding handicraft-makers to producers of world class quality products,” Mercado-Bunker said.

            She added: “They have become responsible employers and role models of good citizenship—local economic heroes in their own right.”

            Here are more great tips from these local economic heroes:

·      Carina Gonato, lumpia seller

o   Update yourself on what customers think and like about your product.

o   Strive to learn how to improve your business.

o   Read books and surf the Internet for pointers on how to be successful.

o   Keep pursuing your goals.


·      Felicidad Kalalo, copra products dealer

o   Without trust and honesty, your business will never grow.

o   If you borrow money, you must pay it back. Be regular with your payments so you can borrow again to grow your business.

o   Be alert to how your business is going. If it is too slow and you’re losing money, look for another business.

o   Do not be afraid of starting over.

o   Most important, work hand-in-hand with your spouse.


·      Ester Lumbo, pandan products entrepreneur

o   With or without competition, work hard on your business and never give up.

o   Make sure that production is on schedule and all orders are delivered on time.

o   Give your customers beautiful and original designs to choose from.

o   Careful planning is the key to a successful business.


·      Consuelo Valenzuela, sabutan products entrepreneur

o   Never borrow what you cannot afford to pay back.

o   Do not take too many loans at one time, especially if your business is seasonal.

o   Know when it is the right time to make a loan.

o   Follow your repayment schedule strictly.

o   Keep a list of things you have to do and complete each day.


·      Cherry Yack, Sr., cassava cake businessman

o   Avoid all vices because they take away from your time, your health, and your money.

o   Do not let your workers do all the work for you, but make sure the people you hire are as hardworking as you.

o   Always persevere and believe that God will lead you to your goal.

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