Five million women micro entrepreneurs worldwide, including 20 thousand in Philippines, will get easy loans and training support through a global initiative of Coca-Cola beginning 2015 to 2020.
In the Philipppines, the softdrinks company will partner with the Technical Education and Skills Development Authority (TESDA) and local government units LGUs in empowering small store and eatery owners to start and grow their businesses through the Sari-sari Store Training and Access to Resources (STAR) program.
To-date, the program has been implemented in five cities in Metro Manila: Pasay, Manila, Taguig, Makati, and Mandaluyong.
According to Mayor Benhur Abalos of Mandaluyong City, where the program was launched last month, the STAR will not only help female entrepreneurs improve their micro businesses but also stimulate economic activities in the city.
“Most of the businesses here in Mandaluyong are sari-sari stores and majority of their owners belong to the lower economic bracket. They would usually not have an inventory of the products they are selling. [This program] offers them, among others, a system wherein they will now have an inventory of their products so they wouldn’t haphazardly restock their stores. To top it off, it also has a financing scheme,” Abalos said.
Training support consists of basic accountancy, bookkeeping and related skills, after which the entrepreneurs can access additional capital from microfinance institutions.
According to Tesda Director General Joel Villanueva, the program has helped 26,576 store owners in 23 provinces of the Philippines.
Photo: From http://womensniche.blogspot.com/