Archive for December, 2017

5Cs to Bring Out the Best Entrepreneur in You

Friday, December 29th, 2017

5cs
Taking a page from Go Negosyo book entitled 8 simple secrets to raising entrepreneurs, the 5Cs of an entrepreneurial mind is an interesting look at what composes an entrepreneurial mindset. Oftentimes, many of Go Negosyo’s mentors and angelpreneurs talk about mindset as an integral aspect of becoming a successful entrepreneur. But what is the right mindset?

The 5Cs aims to help develop essential entrepreneurial traits in anybody. They are Curiosity, Creativity, Competence, Commitment, and Compassion.

Curiosity

1C
“Curiosity is at the core of the entrepreneurial mind.”

Curiosity leads people to develop their own vision. For entrepreneurs, having a vision and maintaining an inquisitive disposition is important. Any entrepreneur will encounter challenges as they grow and develop their businesses. Having a curious mind helps entrepreneurs learn and adapt quicker to these challenges. Also, people who often ask questions are the ones who discover new solutions to a problem. These ideas are what creates a personal vision for the entrepreneur.

Asking questions, seeking answers, doing your research, and experimenting can lead many entrepreneurs to achieving their vision.

Creativity

2c
“A creative mind gives birth to innovation”

Creativity is the pathway for innovation. Entrepreneurs who develop a creative mind find new solutions, new methodologies and new businesses to establish. Creativity can set apart an entrepreneur’s business from being another run-of-the-mill establishment or product. There are countless entrepreneurs all over the Philippines. The more original your business is, the more chances of it outlasting the competition.

The book shares that the way anyone can develop their creativity is by intentionally seeking to develop new ideas or improve processes. Even if your business may have similarities with other businesses, you must look at how you can standout, perhaps through your marketing or operations. Additionally, creativity challenges entrepreneurs to become more resourceful. Simple things like developing a new system for accounting can save your business much valued money and time.

Competence

3c
“Competence will determine whether one’s vision or innovation will become a viable entrepreneurial endeavor”

While vision and innovation are important for an entrepreneur, the capacity to translate them into a business matters just as much. After all, great ideas are never meant to stay as ideas. Investing in educational endeavors to help you become more equipped as an entrepreneur is one way of increasing your competence. Self-awareness is also key to making sure you’re making the most of your abilities.

The book shares that entrepreneurs must ask the question “what am I good at?” because more often than not, the answer to that question is where a thriving business idea lies. For example, many successful food ventures were born out of many home-cook’s passion and knack for cooking. Do not be afraid to explore your strengths and to invest in yourself.

Commitment

4c
“Many people try to be entrepreneurs, but they ultimately fail because they lack the determination and perseverance…”

Going into business is never a smooth and easy ordeal. Even if you have the vision, the passion and your idea worked out, without commitment, your business will fail. Practicing self-discipline and maintaining a committed mindset is oftentimes the most pressing challenge an entrepreneur faces. There will be times when nothing will seem to go in your favor, but having the resolve to power through because you want to succeed — that takes commitment.

Entrepreneurs are never afraid of failures. They only see it as a lesson they must take to heart so that their businesses can get better. When one has the determination and perseverance to see their vision come to life, there is nothing that can get in their way.

Compassion

5c
“… while the entrepreneurial mind enables a person to start and grow a business venture, it is compassion that will sustain it.”

Developing your compassion can create long-lasting motivation for an entrepreneur. The high one gets from making great profit can wear off fast. But the drive you get when you know your work is changing lives, that will never wear off. Compassion, as mentioned in the book, is the heart of business. Developing a compassionate mindset determines how you grow your relationships — with customers or employees — and the decisions that set the direction of your venture.

Entrepreneurs can develop their compassion by consciously looking at how their business can improve other people’s lives. As an entrepreneur you must ask how your impact is value-adding to your community, your people and even your country.

Prosperity Year

Thursday, December 28th, 2017
Presidential Adviser for Entrepreneurship Joey Concepcion and his family would like to greet you a happy and prosperous new year!

Presidential Adviser for Entrepreneurship Joey Concepcion and his family would like to greet you a happy and prosperous new year!

2017 is what I call Prosperity Year. It indeed has been a year of blessings and prosperity for all of us. Looking back at those great and successful programs we launched, I am proud to say that we have made great steps towards our goal of inclusive growth.

Let’s take a second look at how 2017 has been for us.

First, we started the year with the ASEAN chairmanship of the Philippines. Together with my co-ASEAN Business Advisory Council members, we joined the ASEAN Business Launch in Malacanang led by ASEAN Chair President Rodrigo Duterte and ASEAN Economic Ministers Chair, Sec. Ramon Lopez. We also had the first ASEAN BAC Meeting here in Manila followed by a welcome dinner for our ASEAN counterparts and partners.

We also had our annual Inspiring Filipina Entrepreneurs Awards held in Malacanang where we recognized 26 Filipina entrepreneurs who have been an inspiration for handling their enterprises while managing their respective households.

To jumpstart the mission of the Philippine chairmanship, we had the first ASEAN Prosperity for All Summit held last April 28, 2017 which was attended by more than 1000 delegates. State leaders, public sector representatives, business leaders and various enablers from the ASEAN all gathered to align with the mission of bringing prosperity across the region. We had the privilege of having Prime Minister Dato’ Sri Najib Tun Razak of Malaysia and Prime Minster General Prayut Chan-o-cha (Ret.) of Thailand as our guests of honor.

When the war in Marawi broke out, Go Negosyo was one of the first private organizations to send help to our displaced Maranao brothers and sisters. Together with our partners in the private sector, we sent some food, clothing, and other necessary items for relief. We also extended the assistance to the men in uniform deployed in the warzone. We sent some care packages together with handwritten letters from students and private individuals. We also had a ceremony dedicated for the 101 soldiers and policemen who died during the battle. In a short turnover ceremony, entrepreneurs who have pledged assistance met the bereaved families and have extended not just their donations but also messages of support and condolences.

Last September 6, we had the biggest and grandest ASEAN Business Awards (ABA) 2017 which celebrated its 10th year. Over 45 entrepreneurs across ASEAN were recognized including John Gokongwei Jr., Tony Fernandes, Goh Peng Ooi, Wee Cho Yaw, Dennis Uy, Bernie Liu among others. The Awards night celebrated the excellence of these ASEAN companies who have contributed not just in their countries but have become a player in the region.

Shortly after the ABA 2017, we had the first ever ASEAN Agriculture Summit which was attended by more than 1,500 local and international delegates. They learned various agriculture techniques and systems including contract growing, industrial farming, agricultural value-chain and other technologies for modern farming.

And to cap the ASEAN year for ASEAN BAC Philippines, we had the successful ASEAN Business and Investment Summit (ABIS) 2017. We were fortunate to have five state leaders including Philippines President Rodrigo Duterte, Myanmar State Counsellor Aung San Suu Kyi, Russian Prime Minister Dmitry Medvedev, Korean President Moon Jae-in, and Indian President Narendra Modi. We also had former Presidents Fidel Ramos, and Gloria Macapagal-Arroyo and Vice President Leni Robredo. Over 50 speakers and panelists joined in the discussion focusing on infrastructure development, women and human capital empowerment, money, market, shared economy and digital market.

It is in ABIS 2017 also where we launched the ASEAN Mentorship for Entrepreneurs Network (AMEN) which is the biggest pool of mentors in the region. 143 pioneer mentors joined President Duterte on stage as he commends the ASEAN BAC and the private sector for its programs on MSME development.

We are proud to have been dubbed as the biggest state and business leaders event in ASEAN. All these would have not been possible without the support of my co-council members, partners, and the people working behind the success of this event.

I was also fortunate to be part of the Interface with the Leaders where I together with my council members and some entrepreneurs had a chance to discuss with the leaders of ASEAN.

But aside from our own events, we also joined our partners’ events including Department of Trade and Industry’s MSME Summit, ASEAN Women Conference, ASEAN Youth Carnival, and ASEAN Inclusive Business Summit. I also participated in some engagements including Malaysia’s celebration of ASEAN’s 50th anniversary, PCCI’s Philippine Business Conference and Office of the Vice President’s Angat Buhay Conference to name a few.

Apart from all these, we had on-going mentorship programs with Kapatid Mentor ME and Kapatid Agri Mentor Me in partnership with DTI and Department of Agriculture respectively.

It has been a busy but productive and fulfilling year for us. Not just because of the successful programs but because of starting the journey towards inclusive growth. We are one step ahead already and there will be more steps to go but with the support of our government and the private sector partners, we are sure that our goals will be achieved.

As we bid 2017 farewell, I can only say that indeed it is a year of blessings after blessings.  We wish that you are all still with us by 2018, our partners for prosperity!

Wishing you a happy new year, Go Negosyantes!

Flashback

Friday, December 22nd, 2017
Go Negosyo Founder Joey Concepcion with then President Gloria Macapagal-Arroyo and Henry Sy Sr. during the launch of Go Negosyo in 2005.

Go Negosyo Founder Joey Concepcion with then President Gloria Macapagal-Arroyo and Henry Sy Sr. during the launch of Go Negosyo in 2005.

Let me share with you two photos taken in 2005. This was the launch of Go Negosyo with President Gloria Macapagal-Arroyo and the first supporters of Go Negosyo way back then. It was held at the Victory Auditorium, one of the biggest facilities which can house more than two thousand people. In fact, the Victory management had to restrict entry when we reached close to 2500 in number for their fear of structural issues. We felt that their worries were unnecessary as the building was built to handle much more.

Harley Sy, the youngest of the Sy siblings and one of the owners of SM is a childhood friend since we played for the same inter-village team, was also there to support. During the launch that day, Henry Sy Sr. was still strong enough to attend and receive the recognition bestowed to him. Vivianne Tan, daughter of Lucio Tan, Nanay Coring Ramos, Vicky Belo, Arthur Yap, Roland Hortaleza, Henry Lim Bon Liong, Les Reyes, Atty. Felipe Gozon, Cecilio Pedro, among others believe that entrepreneurship was the way forward to help Filipinos who are struggling to have a better life.

President Gloria who appointed me as Presidential Adviser for Entrepreneurship was very supportive of these initiatives and attended most of the events we had during her term. At that time, she believed that inclusivity or shared prosperity was very important. Before President Gloria became president, she worked with my father who was the trade secretary then. Sec. Ramon Lopez was also working then in the Department of Trade and Industry. I have always deferred my role today as having been inspired and mentored by 3 people my father Jose Concepcion Jr., President Gloria Macapagal-Arroyo and Tony Meloto of social enterprise Gawad Kalinga.

 Entrepreneurs supported the advocacy of Go Negosyo since 2005. Since then, Go Negosyo pushes for poverty alleviation through entrepreneurship.

Entrepreneurs supported the advocacy of Go Negosyo since 2005. Since then, Go Negosyo pushes for poverty alleviation through entrepreneurship.

Fast forward to today, 2017 has become a milestone year for me and my team as we take on our role as host of the ASEAN activities for ASEAN Business Advisory Council. When I was appointed as chairman of the council, I somehow knew the intense work the position requires. ASEAN BAC Philippines was commended for its great performance in hosting ASEAN.

For our chairmanship, we have strongly advocated for the micro and small entrepreneurs’ development and inclusive prosperity which are the core of our advocacy, Go Negosyo since 2005.

I believe all our efforts are still aligned to our mission 12 years ago. Go Negosyo’s presence is still felt nationwide as we taught mentoring in all Negosyo Centers and agriculture training hubs. It is still in the core of our organization the dream of having an entrepreneurial country. With the recent launch of ASEAN Mentorship for Entrepreneurs Network (AMEN), ASEAN BAC Philippines is now in the forefront of MSME development in the region and will be integrated to the Go Negosyo advocacy as we pursue the mentorship beyond its chairmanship.

On top of our brick and mortar development programs, we are working on strengthening our mentoring programs and developing digital platforms for money and market by next year. These digital platforms will better aide our entrepreneurs scale up and move to the next level. As you all know, most of our entrepreneurs are survival entrepreneurs, only living day by day. But with the programs that we are working on, we hope to turn them into sustainable entrepreneurs.

As we are only a few sleeps away from Christmas Day, I wish that you may all find your passion to pursue. Like how I pursued my passion to help fellow entrepreneurs.

After all the stresses and pressures the engagements and events that have been held this year, may this Christmas season provide you relaxation and recreation time for your family and loved ones as we prepare for the coming year.

From my family to yours, Merry Christmas and may God bless us all!

A Toast to the Future: The 9th ASEAN Business Awards 2017

Monday, December 18th, 2017

Phil Tatler - ABA
SEPTEMBER 6, 2017 / SOLAIRE GRAND CASINO AND RESORT

PHILIPPINE TATLER


The ASEAN Business Advisory Council (ASEAN-BAC) awarded the region’s 47 top entrepreneurs at a gala for the ASEAN Business Awards (ABA) 2017 at the Solaire Grand Casino and Resort. The award casts the spotlight on these promising companies that have the potential to be global economic players.

“The ASEAN-BAC has been instrumental in realising our common aspiration of serving the growth of our people. We also challenge those who have achieved success to embrace the MSMEs,” says President Rodrigo Duterte. 518 delegates from across Asia, including government offi cials, members of the diplomatic corps, Asian business leaders, and notable women, youth, and entrepreneurs graced the event. Among others, winners from the Philippines include Teodoro Ferrer and Jaime Augusto Zobel de Ayala of Erikagen Inc for the Inclusive Business Award; and John Gokongwei Jnr of JG Summit Holdings received the Legacy Award.

View gallery here:

“Lovin’ Lokal: Patok na Christmas Gift Ideas!”

Thursday, December 14th, 2017

GNSR Web Header Dec 13
On December 13, 2017, Go Negosyo Radio hosts DJ Cheska San Diego-Bobadilla was joined by Rica De Ramos (Co Founder, Hue Love Prints), Ramil Mendoza (Co-Owner, Unit16sweets) and Marievic Bonoan (Assistant Director, Bureau of Domestic Trade Promotion) for an episode discussing great local products to check out this holiday season.

Marieivic Bonoan was the episode’s first guest who talked about the Department of Trade and Industry’s program called Go Lokal.

Go Lokal is a retail concept store showcasing quality and innovative philippine products crafted, designed, and produced by the country’s micro, small, and medium enterprises. It is an excellent marketing avenue provided for free by the DTI and its retail partners for MSME incubation, marketing, and branding. By offering only products of quality, unique design and compelling narratives, Go Lokal aims to inspire our entrepreneurs to level up and meet global standards. It is likewise a vehicle to discover emerging suppliers and new products with high market potential.

Marievic shared that through Go Lokal, many micro and small entrepreneurs are afforded the opportunity of reaching the mainstream market—something that would be quite difficult if they did it on their own. She shares that listing and placement fees for any product found in supermarkets or department stores could reach from five to six figures which would be too high for our micro and small entrepreneurs.

Aside from providing these entrepreneurs to a steady mainstream market, the process of getting to these shelves provided by DTI is invaluable. “First step is to go to your local negosyo center – all towns and provinces have one (…) the center will help you in every step of the way.” From getting your business registered, to marketing, planning and distribution, DTI helps these entrepreneurs fast track their business, acting as mentors, incubators and market providers.

As Go Lokal stocks the best from their trade fairs and products that are of quality and deliver consistently, customers who encounters their many kiosks or stores are treated to a microcosm of the Philippines’ entrepreneurial scene. Coffee from the mountains, chocolates from Mindanao, shoes and bags made from indigenous fabrics and crafted by Marikina’s artisans, and even innovative products such as a seaweed facial wash.

The second guest is Co-Founder Rica from Hue Love Prints—a  small local business which is perfect for gift giving. Hue Love Prints offers a bevy of practical products (i.e. note pads, bag tags, note cards, and pouches) in hundreds of colorful designs and prints. They are made to order so each customer will be sure that what they ask for is exactly what they will get.

Rica shares that her and partner started the business when they were searching for colorful and practical products for gifts. When they saw that there was a gap in the market, they began producing themselves. The road to being the company they are today wasn’t free of challenges of course. She shares that producing the product from end-to-end on their own was too tedious and would eat up there time in producing designs. In order to fast track their production, Hue Love Prints decided to outsource for services like special and quality printing so that they can focus on designing.

The third and final guest is Ramil Mendoza, the Co-Owner of Unit16sweets. Ramil’s business started as a small project with his partner where they put together what they found from different suppliers and sold it to their friends. What emerged was an innovative personalized chocolate business, that can be seen in birthdays, corporate events and weddings. What sets Unit16sweets apart from other chocolate businesses, is aside from offering chocolate bars with a range of flavors (from chili chocolate to sea salt), they also offer personalization of packaging and size, so that people are treated to something sweet & unique, both on the inside and outside of the product.

Unit16sweets has also had their fair share of challenges according Ramil. Because their product is customizable, it’s sometimes hard to translate a customer’s idea into the design of the product. It’s also difficult when many see the business as something like a convenience store. “Design really takes time,” Ramil said. However, he said the key is to just keep smiling and try their best to accommodate and work with the customer. After all, chocolate is a very happy and festive business to be in.

For more information on Go Lokal, Hue Love Prints and Unit16sweets, see:
Go Lokal:
http://www.dti.gov.ph/programs-projects/go-lokal
https://www.facebook.com/DTI.GoLokal/

Hue Love Prints:
https://www.facebook.com/HueLovePrints/
hueloveprints@gmail.com

Unit16sweets
https://www.facebook.com/HueLovePrints/
ask@unit16sweets.com

Discussions over pandesal

Thursday, December 14th, 2017
Wilson Lee Flores with presidential adviser for entrepreneurship Joey Concepcion

Wilson Lee Flores with presidential adviser for entrepreneurship Joey Concepcion

Last Tuesday, I was invited by Wilson Lee Flores to be their guest for his Pandesal Forum, a breakfast chat with our media friends. Aside from being a columnist, Wilson is also an entrepreneur. He bought the Kamuning Bakery Café which first opened in the 1930s. It was my first time to be there and I was amazed how they still offer pugon-baked breads and pastries.

During the discussion, various topics and issues were raised. First on the discussion list is the tax reform program which might be signed before the end of the year. I believe that the tax reform is a must in order to process the build, build, build projects of the government. If we are to compare the Philippines to a corporation, we can consider the taxes as equity from its shareholders which are the Filipinos. The government aims to create right infrastructure programs in our country, so if we look at it in a long term basis, these taxes will aid the programs we want to be implemented.

But more than this, I believe that micro, small, and medium enterprise development is crucial in creating a more progressive country. I shared with them what we have been doing in Go Negosyo. We are pushing for the 3Ms which are Mentorship, Money and Market. For a country like the Philippines which is an archipelago, market access is indeed a challenge. But if we pursue infrastructure programs, the linkage between regions will be easier and people can have more access to various markets. I also think that the technology changes will aide their growth. It might be a threat to the brick and mortar businesses but we are all going digital. So I believe that even the traditional businesses must inject technological advances in order to have efficient business processes.

For mentorship, we have always been proud to say that we have mentored thousands of mentees under the mentorship program that we are doing with Department of Trade and Industry and Department of Agriculture. Our Kapatid Mentor ME program has trained more than 2,000 mentees this year while our Kapatid Agri Mentor Me has equipped 358 cooperatives led by their chairmen and finance officers. We are teaching these farm cooperatives so they can better manage their systems.

To complete the 3Ms, we are also giving importance to possible financing programs to be implemented. We have talked to big banks, rural banks, and even the micro-finance institutions to discuss programs which can help our MSMEs.

The discussion was then led to the private-public partnership programs. I have always been supportive of the PPP. There are certain projects that only the government can manage but there are projects where the private sector can co-manage. Our large companies and conglomerates are all willing to be of assistance to the development programs of the government. Let’s look forward to the projects that they will be doing in the coming years. Our airports are important and will therefore be of focus in the coming years. With the private sector as a partner, the continuity of projects is assured.

When asked about the best advice for entrepreneurs in 2018, I told them that entrepreneurs must be optimistic. If they are easily affected and swayed by the problems and national issues, then their outlook will be negative. They should also have creativity and innovation and must not just copy what is in demand in the industry. One must have a new business model. That is why we are teaching them with business skills which can better improve their ideas. We will turn these survival entrepreneurs to become sustainable entrepreneurs.

I also shared to them the benefits of a digital economy. Recently, I have separately met with Jack Ma of Alibaba, Nick Nash who is the President of SEA Group which handles Shopee, and also Inanc Balci of Lazada. All of them are managing online markets where micro and small entrepreneurs can sell their products online and customers can purchase them online. Uber and Grab also created a marketplace for transportation. In an instant, drivers become entrepreneurs as they become members of Uber and Grab.
Soon, these marketplaces will become cashless as we use e-wallet systems like PayMaya and GCash which are loadable cards which you can use for shopping.

I also clarified what President Duterte has mentioned in our ASEAN Business and Investment Summit wherein he declared that he will give additional funding for our MSMEs. I think more than the Conditional Cash Transfer program; it is better to give money to those who want to loan money for their enterprises. I believe that this can be studied. And whichever is the more sustainable way of assisting the poor Filipinos, that should be done.

I also shared some of the programs we have in Sulu and Marawi. We still have on-going programs in these areas and I think the President is working on improving and enhancing security in these provinces. Tourism will never blossom if we have insurgencies and serious security issues. And I believe that only the President knows what is best for Mindanao.

I was also asked by Wilson on what is my assessment on President Duterte as the CEO of the Philippines, I told them that the President really has the heart for the poor. “Well, you can see that President Duterte is compassionate to those who are helping the poor people… but if you are otherwise, then you will never be his friend. I believe that the president’s style is what we need today, his strong-handed leadership”, I said.

The ASEAN BAC Philippines will team up with Go Negosyo and my office as the Presidential Adviser for Entrepreneurship to continuously promote for “Prosperity for All”. All groups from the private sector must form an alliance to see that these programs become a reality. It is not going to be an overnight solution. Poverty has been around for so many generations but we must be relentless in our pursuit for greater inclusivity and leaving no one behind.

Strengthening Public and Private Partnership After ASEAN

Monday, December 11th, 2017
Manny Pangilinan, Joey Concepcion, and Doy Vea

Manny Pangilinan, Joey Concepcion, and Doy Vea

The ASEAN chairmanship is successful because of the partnership between the private and the public sectors. For us in the ASEAN Business Advisory Council, we have partnered with government agencies and private companies in order to stage the conferences and the meetings we had for the past year.

Last week, we had a simple appreciation and thanksgiving night to celebrate the achievement we had for the 50th ASEAN year. We are glad to host a dinner for our government officials and partner entrepreneurs who are our allies in achieving prosperity for all.

For me, the Philippine chairmanship is one of the best chairmanships of ASEAN. Although we are considered the little brother of APEC, we are glad to have lived up to the expectation.

The chairmanship has ended but the work still continues. It is now time to turn our visions and plans into reality. The theme “Prosperity for All” will not remain a theme; it must be implemented.

I know that moving forward, the relationships we’ve fostered with the government and the large conglomerates will be beneficial for all—especially for important projects such as infrastructure development. Many of those who have rallied behind the call for shared prosperity will continue to join us through the many projects Go Negosyo has lined up in the coming years. Truly, the closer ties between the public and private sector will blossom as we all work together to bring inclusive growth and development in the country.

Here are some photos I wish to share with you:

ASEAN BAC Chairman Joey Concepcion and Defense Secretary Delfin Lorenzana

ASEAN BAC Chairman Joey Concepcion and Defense Secretary Delfin Lorenzana

 

Daniel Zuellig and Joey Concepcion

Daniel Zuellig and Joey Concepcion

 

Kevin Tan, Sen. Miguel Zubiri, Felix Ang, and BCDA Pres. Vince Dizon

Kevin Tan, Sen. Miguel Zubiri, Felix Ang, and BCDA Pres. Vince Dizon

 

Ricky Razon, Felix Ang, Erramon Aboitiz

Ricky Razon, Felix Ang, Erramon Aboitiz

 

Irene Barcelon, George Barcelon, Lance Gokongwei, Alfred Ty, Cong. Arthur Yap and Michael Tan

Irene Barcelon, George Barcelon, Lance Gokongwei, Alfred Ty, Cong. Arthur Yap and Michael Tan

 

Enrique Razon and George Barcelon

Enrique Razon and George Barcelon

 

Lizzie Zobel, Jaime Augusto Zobel de Ayala and Joey Concepcion

Lizzie Zobel, Jaime Augusto Zobel de Ayala and Joey Concepcion

 

Luis Virata, Libet Virata, and Daniel Zuellig

Luis Virata, Libet Virata, and Daniel Zuellig

 

Hans Sy, Joey Concepcion, Marissa Concepcion, Lance Gokongwei, Atty. Sal Panelo and PA RJ Jacinto

Hans Sy, Joey Concepcion, Marissa Concepcion, Lance Gokongwei, Atty. Sal Panelo and PA RJ Jacinto

 

Michael Tan and Cong. Arthur Yap

Michael Tan and Cong. Arthur Yap

 

Teresita Sy-Coson, one of the ASEAN BAC Philippines member, gave a short message during the appreciation dinner.

Teresita Sy-Coson, one of the ASEAN BAC Philippines member, gave a short message during the appreciation dinner.

 

ASEAN BAC Chairman Joey Concepcion thanks all the partners who made the ASEAN BAC Philippine chairmanship successful.

ASEAN BAC Chairman Joey Concepcion thanks all the partners who made the ASEAN BAC Philippine chairmanship successful.

 

Executive Secretary Bingbong Medialdea said in his speech, “With a lot of hard work and support from different sectors of the government, as well as the private sector, through the well-coordinated efforts, we can all be proud to say that we have hosted the 30th ASEAN and the 50th Founding Anniversary of the ASEAN successfully, safely, efficiently, and with dignity and elegance.”

Executive Secretary Bingbong Medialdea said in his speech, “With a lot of hard work and support from different sectors of the government, as well as the private sector, through the well-coordinated efforts, we can all be proud to say that we have hosted the 30th ASEAN and the 50th Founding Anniversary of the ASEAN successfully, safely, efficiently, and with dignity and elegance.”

 

Defense Secretary Delfin Lorenzana, PA for Visayas Michael Dino, Jay Yuvallos, Gen. Hermogenes Esperon, Budget Secretary Ben Diokno, Presidential Spokesperson Harry Roque, and Bettina Quimson.

Defense Secretary Delfin Lorenzana, PA for Visayas Michael Dino, Jay Yuvallos, Gen. Hermogenes Esperon, Budget Secretary Ben Diokno, Presidential Spokesperson Harry Roque, and Bettina Quimson.

 

Luis Ferrer, Hans Sy, and Edgar Saavedra

Luis Ferrer, Hans Sy, and Edgar Saavedra

 

Ricky Delgado, Joey Concepcion and Alfred Ty

Ricky Delgado, Joey Concepcion and Alfred Ty

 

US Ambassador Sung Kim, Finance Sec. Sonny Dominguez, Ricky Delgado, and Defense Secretary Delfin Lorenzana.

US Ambassador Sung Kim, Finance Sec. Sonny Dominguez, Ricky Delgado, and Defense Secretary Delfin Lorenzana.

 

Joey Concepcion, Sen. Migz Zubiri and Trade Secretary Ramon Lopez

Joey Concepcion, Sen. Migz Zubiri and Trade Secretary Ramon Lopez

 

Transportation Secretary Arthur Tugade, Manny Pangilinan and Eric Alberto

Transportation Secretary Arthur Tugade, Manny Pangilinan and Eric Alberto

 

Josephine Gotianun-Yap, and Sec. Ben Diokno

Josephine Gotianun-Yap, and Sec. Ben Diokno

 

BCDA President Vince Dizon with wife Essie, Doris Ho, and Russian Amb. Igor Khovaev

BCDA President Vince Dizon with wife Essie, Doris Ho, and Russian Amb. Igor Khovaev

 

Three Important Takeaways from the Tax Reform Bill

Thursday, December 7th, 2017

GNSR Web Header Dec 7
With the new year comes a new tax system! On December 6, 2017, Go Negosyo Radio hosts Sen. Bam Aquino & DJ Cheska San Diego-Bobadilla were joined by the resident tax expert Mon “The Tax Whiz” Abrea for an episode tackling the Tax Reform Bill and its implications for the Filipino people.

To those who haven’t heard of the tax reform bill that was first proposed by the Department of Finance and is now being processed in the legislative branch’s bi-cameral sessions, it is radically changing the current outdated tax system which weighs heavily on the ordinary Filipino.

During the episode, the three addressed the most pertinent questions and issues regarding the bill to clarify and prepare Filipinos for the change. Here are three key takeaways from the episode:

  • Adjusted tax bracketing means around 5M Filipinos with low wages will become tax-free

Many have heard that those earning monthly wages of Php21,000 and below will be tax-free once the bill passes. This is due to the adjusted tax-bracketing system which will also have those earning an annual income of 8 million and up to be taxed at a higher rate of 35%. For comparison, the current system only gives those with an annual income of 132,000 a free pass on income tax. “An additional 23% of Filipinos will benefit from this reform (…) around five million Filipinos”

  • Micro and small entrepreneurs will benefit the most from this bill

            According to Senator Bam, around 40% of the Filipino people are part of the informal economy wherein they don’t pay their taxes. These are mostly the small and micro entrepreneurs we see working hard to earn their daily income. Due to exorbitant penalties and requirements that wear out these entrepreneurs, many choose not to register in formal institutions, hindering them from accessing much needed formal loans and assistance.

By reforming the current tax system wherein business tax can be paid either yearly or quarterly, and penalties & compliance requirements being reduced, this will hopefully encourage many entrepreneurs to register their business.

The Bureau of Internal Revenue is also working tirelessly on putting their system online. This will aid in reducing corruption schemes that prey on the micro and small entrepreneurs through fixers and surprise penalty fees. The system will also save many Filipinos time in terms of regularly having to visit physical bureaus.
The reform also seeks to exempt micro businesses who are still working towards a sustainable source of income in order to help these businesses scale before they begin paying their taxes.

  • Tax on products are still under review

With the tax reform that seeks to lower tax for those who need it most, the government also needs to raise revenue for its projects such as the Build, Build, Build (infrastructure development). With this, many Filipinos are being warned that prices of products such as automobiles, gas and sweetened beverages will be increased. As much as possible however, the government will seek not to tax products that are prejudiced against the common Filipino. Mon shared certain sectors that should be open to being taxed higher such as corporations and even medium sized businesses.

To expand your knowledge on taxes in general, visit The Philippine Tax Whiz and Center for Strategic Reforms Philippines.

This is not the end, this is just the beginning

Thursday, December 7th, 2017
ASEAN Business Advisory Council hosted an Appreciation Dinner for its government and private partners last December 4, 2017

ASEAN Business Advisory Council hosted an Appreciation Dinner for its government and private partners last December 4, 2017

The year 2017 is on its last few days and as we close the year, we cannot help but look back on how wonderful the year has been.

I remember last January, we were planning for the year and meeting with partners. Now, we have all our partners beside us as we cherish this year’s success!

Last Monday, before the hustle and bustle of all the Christmas parties and get-togethers and just right after the fruitful ASEAN Week, we had a simple appreciation dinner for all our partners – both private and public.

I was happy to see our Cabinet secretaries and other members of the government who are our allies for growth and development. Among the secretaries and government officials who attended were Trade Secretary Ramon Lopez, Finance Secretary Sonny Dominguez, Transportation Secretary Arthur Tugade, Budget Secretary Ben Diokno, Science and Technology Secretary Boy de la Peña, Defense Secretary Delfin Lorenzana, Executive Secretary Bingbong Medialdea, former spokesperson Ernie Abella, current presidential spokesperson Harry Roque, Energy Secretary Alfonso Cusi, PA Michael Diño, BCDA president Vince Dizon, PA RJ Jacinto, chief legal counsel Secretary Salvador Panelo, Agriculture Undersecretary Bernadette Puyat, Foreign Affairs Undersecretary Dondi Teehankee, Rep. Arthur Yap, Gen. Hermogenes Esperon and Sen. Miguel Zubiri.

Of course, we also have our private sector partners including Tessie Sy-Coson, George Barcelon, Jaime Augusto Zobel de Ayala, Manny Pangilinan, Enrique Razon, Erramon Aboitiz, Kevin Tan, Lance Gokongwei, Josephine Gotianun-Yap, Michael Tan, Ricky Delgado, Edgar Saavedra, Luis Virata, among others. They have been instrumental in helping us magnificently host the ASEAN year.

As we shared talks over food and drinks, I realized how we all deserve the celebration last Monday. We looked back on the ABIS2017 highlights, I told everyone that it is one of the best organized summits over the past 50 years. It is without a doubt through the leadership of President Duterte and the efforts of the private sector led by the ASEAN Business Advisory Council were able to have a great output for the 50th year of ASEAN. We are privileged to have hosted this milestone year for ASEAN.

I believe that having experienced the APEC hosting two years ago prepared us to the hosting of ASEAN. We had to live up to the expectation since ASEAN is considered as the small brother of APEC. I am glad that we all made it through.

What we are doing now with mentorship and MSME development is what we have been doing for the past 12 years of Go Negosyo with Sec. Mon Lopez. We are glad to have Sec. Manny Piñol as well to embrace the whole spirit of helping our micro and small entrepreneurs in the agriculture sector.

I asked Executive Secretary Bingbong Medialdea to give a short message. He related how it was a once in a lifetime experience for him to chair the National Organizing Committee. He said, “We had more than a hundred events to prepare for in various places of the country including working groups, meetings with senior officials, ministerial meetings, and meetings with heads of government. With a lot of hard work and support from different sectors of the government, as well as the private sector, through the well-coordinated efforts, we can all be proud to say that we have hosted the 30th ASEAN and the 50th Founding Anniversary of the ASEAN successfully, safely, efficiently, and with dignity and elegance.”

Medialdea added, “May I quickly add that the real heroes of this milestone were of course: our President, who was always hands on in all major events, from site inspections to plenary and bilateral meetings with hundreds of government employees lending support to the endeavor headed by no other than the highly-esteemed Ambassador Jun Paynor who did a magnificent job; and, the Filipino people for their support and demonstration of the Filipino dignity, hospitality and courtesy to foreign guests.”

The theme “Prosperity for All” should not remain as a theme. It must be implemented. I agree with ES Medialdea when he closed his speech by saying, ““The work never ends; The work starts now.” It is indeed the time to start working on our visions and make those plans a reality. I look forward to a stronger private-public partnership next year. May the relationship between the two sectors blossom as we both pursue development and progress for our country.

No one can deny that we are still faced with extreme poverty, but if we do not play the role of sharing and helping our micro and small entrepreneurs, the challenge remains a challenge. The essence of inclusivity is in sharing.

I will continue to be optimistic about the future of this country. I know you are too. Let us all work together in achieving the prosperity that we all have been advocating for.

This is not the end. It is just the beginning.

DFA Letter of Support for AMEN

Wednesday, December 6th, 2017

LOOK: The Department of Foreign Affairs lauded ASEAN BAC’s contributions to the success of the Philippines’ chairmanship of ASEAN this year and encouraged ASEAN BAC to sustain the legacy project AMEN as a continuing platform to suport our MSMEs. #ASEAN2017

 

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