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Somewhere within all of us lies the entrepreneurial spirit that may just be waiting to be awakened. For many Filipinos, having one’s business is an identified dream. Sadly, many of these entrepreneurial dreams fail to take off because of the lack of means and support to make them happen. The country’s leading microfinancial institution, Cebuana Lhuillier, aims to offer just that.

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Entrepreneurship in the Philippines

Although the Philippines is the home of many successful multi-billion businesses, nothing depicts a better picture of entrepreneurship in the Philippines more than micro enterprises made up of two persons or one family. Sari-Sari stores, street vending carts, carpentry shops, and sewing shops are some of the most common small business options in the country. One would rarely see an area in our urban areas, or even the busier rural areas for that matter without a small store selling a gamut of merchandise needed for everyday living in a small community.

Most start early like a student selling candies or pad paper to his classmates or a girl who sells stationery paper or cookies to her peers. The entrepreneurial dream grows bigger to include home-baked goodies, a sari-sari store or small grocery, a fleet of tricycles, and other small-scale businesses. Having one’s own business is a great source of pride for many families and rightly so, considering the struggles and challenges in building businesses from the ground up.

The Need for a Partner Micro-financial Institution

It is no secret that the main requirement to start a business is capital. Experienced business people can also readily attest to the importance of having continuous access to financial sources and assistance to ensure the continued growth of any enterprise. Cebuana Lhuillier, recognizes this need and potential as it aims to help strengthen the chances of Filipinos succeeding in entrepreneurship through a financial literacy campaign that showcases the available support for micro entrepreneurs today.

There are Cebuana Lhuillier products that provide for the needs and protect the resources of micro entrepreneurs – from micro insurance products to immediate financial assistance. Many small business owners are wary about transacting with banks. This is partly triggered by the belief that their business operation will be deemed “too small”for bank standards.

Cebuana Lhuillier’s  Micro Enterprise Services

One of Cebuana Lhuillier’s micro insurance products is the Alagang Cebuana Plus which offers affordable personal accident and fire insurance. For only P25, the holder is covered from accidental death, dismemberment, and disablement for P20,000, with an additional P5,000 coverage from fire. The coverage is valid for four (4) months.

Micro entrepreneurs are taking advantage of this to grow and reach a wider market. With the help of Cebuana Lhuillier’s 24/7 Pera Padala nationwide operations, they are able to receive payments sent from across the country, in real time, hassle-free and without the need to open an account. Nowadays, payment options available for businesses, no matter how small, include transactions that do not go through the banks.

Regardless of the size of a business, it is integral to have easy access to funds in the course of the operations. Cebuana Lhuillier offers a nationwide pawning service that can address the need for funds for sudden business expenses. Its high appraisal rates, low interest rates, flexible terms, hassle-free transactions and 24/7 operations for select branches, make Cebuana Lhuillier’s pawning services the perfect partner for micro entrepreneurs. A complete list of Cebuana Lhuillier services can be found at its website.

My Say

There is no question that entrepreneurship entails a lot of untold sacrifices and challenges. There will always be daunting tasks but overcoming them and doing better after leads to the path of success. With the right financial needs partner, business owners can concentrate more on running the business rather than being burdened with the financial survival of the business.

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A freelance researcher-writer who has continuously been in such field for more than 10 years. Know more about her here.

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