Filipinas living both in urban and rural areas are capable of achieving financial stability and freedom.
This was highlighted during the recently concluded media roundtable #SHERules: Filipinas Who Change the Way We Do Business, hosted by online financial marketplace eCompareMo.com.
In their discussions, female experts in financial literacy, entrepreneurship, and government programs expressed confidence that the success of a Filipina entrepreneur creates a big impact not only for herself but also to her loved ones and even for the countryās economy.
Financial Literacy Advocate Dr. Daniela Laurel, PhD, Camille Villar, managing director of Vista Land and Lifescapes; and Assistant Secretary Blesila A. Lantayona of the Department of Trade and Industry Regional Operations Group, said modern Filipinas are now more aware that they are an empowered group that can make an impact in the society they live in.
According to Laurel, women realize the power of entrepreneurship where they have active and passive income, and are also able to invest in the future. This is a benefit that many women recognize that they can achieve by going into business.
āWomen are better money managers than men, especially in tough times,ā shared Laurel, who is also a news anchor and segment producer at One News Network Philippines. āWe know how to sacrifice for the long haul, we know how to work hard and to reap the benefits and stability. In the long term, managing our finances empowers us, but itās not just a money thing. The difference between us and men is that we also use money to nurture and mother.ā
Villar, daughter of Filipino billionaire Manuel Villar Jr., spoke on the benefit of having a supportive environment and role models, to changing the mindset of Filipinaās from ācanāt do to can do.ā
She said her early exposure to business with both her parents working together to building the family business that influenced her own thinking. She believes that businesses that nurture and support women can help change the workplace culture and allow women to have more confidence and excel.
āIāve had the experience of being in a table with male CEOs [chief executive officer] and they look at me like I should be in the table of the wives. Or they ask me questions like, āWhatās your favorite store?ā or āWhere do you like to shop?ā, [as if] I donāt manage my company,ā shared Villar.
āItās something you have to overcome, and you just have to tell yourself that, āIām going to prove them wrong. I belong here. I know just as much as all of them. I work hard and I know what Iām talking aboutā and not to be intimidated and not allow preconceived notions or gender bias to hinder you from making your way to the top brass and managing your own company,ā Villar said.
According to Lantayona, training and developing more women to become small and medium entreprenuers is key to the countryās economic growth.
āWomen play an important role in the Filipino economy. They make up 50 percent of the labor force,ā she said.
āEntrepreneurship is the key to empowering women and making women contribute to a more inclusive and stable growth. As such, the Philippine government has developed measures to support women entering into business,ā she added.
Lantayona shared some of the government initiatives that women seeking to get into business can take advantage of. These are: the Great Women Project, where the trade department works with women run businesses to help them enter the global market; the Shared Services Facilities program, wherein small and medium enterprises in the countryside can get access to free equipment; and the Pondo sa Pagbabago at Pag-asenso (P3) Microfinancing Program.
She, likewise, emphasized two projects in which countryside entrepreneursāmany whom are womenācan get the help they need to scale up their businesses and move beyond their localities. The Go Local program with major retailers, where products from countryside small and medium enterprises are displayed and sold in local stores. The products are thus exposed to a wider market, and the SMEs can benefit from the retailerās feedback on how to make the products more marketable.
There is also the Kapatid Mentoring Program, a 10-module course where countryside entrepreneurs can learn more about running a business, including marketing and financial literacy. The lecturers in this program are actual established entrepreneurs who mentor the participants and provide practical advice in growing oneās business.
Ched Limson, chief operating officer of eCompareMo.com., said mindset, access to financial information and access to financing are the three big barriers toward developing female entrepreneurs.
With the proper support, from her family and friend, from her workplace, from the government, and from financial institutions, the Filipina entrepreneur is truly poised and ready to show the world that she indeed rules.
āeCompareMo.com believes in the power of women and we are determined to do everything in our power to help the Filipina entrepreneur get access to not just the financial services they need, but also help improve financial literacy through events like SHE Rules,ā Limson said.