The Bank of the Philippine Islands (BPI), through its social development arm, BPI Foundation (BPIF), rolled out Small Enterprise Acceleration Lab-Business Expansion through Training and Application (SEAL-BETA) in various provinces across the country, empowering microbusinesses to accelerate their business and elevate their industry strategies.
In partnership with BPI Direct BanKo and DTI-Philippine Trade Training Center-Global MSME Academy (PTTC-GMEA), BPIF provided comprehensive business training and mentorship sessions to 370 microbusinesses from the provinces of Rizal, Cebu, Negros Occidental, Leyte, Samar, and South Cotabato.
According to the Department of Trade and Industry, micro, small, and medium (MSME) enterprises account for 99.63% or 1,241,733 of the business establishments in the country as of 2023. Micro enterprises comprise 90.43% of total establishments, followed by small enterprises at 8.82%, and medium enterprises at 0.38%.
BPI SEAL-BETA is a project specifically designed for micro enterprises to undergo intensive training that covers product diversification, digital payments, costing and pricing, negotiation, and entrepreneurial finance 鈥 aligned with BPI鈥檚 advocacy to help marginalized communities achieve financial wellness.
鈥淲e carried out this initiative recognizing that our microbusinesses, especially those situated in local barangays, have the potential to thrive when equipped with suitable training tailored to their needs. By empowering them to grow and innovate, we believe they can become self-sustaining and deliver services to their customers well,鈥 said Carmina Marquez, BPIF Executive Director.
The implementation of the program also provided access to market by showcasing participants鈥 products and services during a market fair, which generated a total of P2,250,000 in sales across six provinces. As part of the program, participants pitch their products and services, applying the knowledge gained from the training. Select entrepreneurs were awarded pitch grants of P25,000 and booth setup awards of P20,000.聽
As of 2024, BPIF has supported 514 enterprises under SEAL-BETA.
Through providing practical learning and application to microbusinesses, BPI affirms its commitment to creating lasting and inclusive impact through sustainable financial education.
For more information, visit . Follow BPI Foundation on Instagram (@bpifoundationinc) and Facebook (@BPIFoundation) for updates.
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