Accounting and Business Finance Functions Made Easy for Women Entrepreneurs of Aklan
Thirty-nine women entrepreneurs from Aklan, together with Violence Against Women and Children (VAWC) survivors, attended the two-day business clinic held at Aklan Tourism and Training Center on October 11-12, 2013.
Mr. Raymond Abrea, founding president of the Center for Strategic Reform of the Philippines (CSR Philippines), taught the women the How-tos of business which include registering a business in four easy steps, preparing cash flow and income statements, and costing products.
The participants got a chance to apply what they have learned. They worked as groups on the preparation of balance sheet, income statement and pricing strategy. Each group chose an existing business of one of the members. Group One focused on bakery while groups two and three chose palay trading and dishwashing liquid. The last group worked on crispy shrimp.
Aside from business and finance functions, Mr. Abrea also shared inputs on product development. He discussed the eight points on product development. These are: (1) clear mission and vision, (2) determine and refine product development strategy, (3) benchmarking, (4) generating new product ideas, (5) packaging and advertising, (6) labeling, (7) pricing, and (8) evaluation. As an entrepreneur himself, Mr. Abrea shared words of wisdom to the women entrepreneurs. He shared, “Kapag nagkaroon ng pagsubok lalo na sa business. Ang lagi mong ipapaalala sa sarili mo ay bakit ko sinimulan iyon. Ano nga ba uli yung pangarap mo? Kapag naibalik mo ang sarili mo sa day one na sisimulan mo lang siya para kang na-recharge. Kahit ano pa ang problema na dumating kapag malinaw sa iyo ang gusto mong mangyari , kung ano ang pangarap, kahit anong problema dadaan at dadaan, lilipas din ang lahat nga mga iyan.” (When there are challenges, especially in business. You must always remind yourself why you started it. When you return to day one, it seems as if you are recharged. No matter what the challenges are, when you are clear on what you want to happen and what your dreams are, any challenge will pass.)
The participants were appreciative of being part of the activity. Ms. Soledad Yetyet of San Ramon Development Association shared, “ Sa training na dinaluhan natin ng dalawanag araw ay malaki ang kinita natin kasi dito masigasig tayo sa pagpundar at pagpatuloy ng ating naumpisahang negosyo,. Marunong na tayong tumingin kung kumita tayo.” (In the two day-training we attended, we earned a lot because we were enthusiastic in continuing our businesses. Now we know if we are earning.)
The activity is part of a series of planned business clinics in PCW-AECID project sites. The business clinic is part of the implementation of the project “Institutional Strengthening of National and Local Governance on Human Rights and Economic Empowerment with a Gender Focus: Implementation of the Magna Carta of Women (MCW)” or the PCW-AECID MCW Project. The project aims to support women’s economic empowerment and fulfillment of their human rights through the development and implementation of convergent programs that support women’s entrepreneurship and employment and mechanisms that address their social rights.