Saturday, November 13, 2010

BiD challenges MSMEs to grace NGO trade fair

BiD challenges MSMEs to grace NGO trade fair
By Mitchel Confesor
PIA News Agency
November 13, 2010

Manila (13 November) -- Entrepreneurs are all set to converge next week at a mall trade fair showcasing products and other initiatives of non-government organizations (NGOs) as the centerpiece of the national commemoration of Social Development Week in the country.

Among their unique and enterprising innovations are virgin coconut oil liniments and scalp-care items from fruit and vegetable skincare extracts, organically grown corn coffee products, organic rice and muscovado sugar foodstuffs, costume jewelry sets from indigenous and synthetic materials, and handmade crafts by former migrant workers to Japan and former prison inmates.

In a statement, the corporate-led social development foundation Philippine Business for Social Progress (PBSP) said these entrepreneurs will display their products and innovations at the NGO Trade Fair to be held at the Trinoma Mall in northern Quezon City from November 15-18.

PBSP said some of these entrepreneurs are previous top Philippine participants of the Dutch-organized Business in Development (BiD) Challenge, including one Filipino entrepreneur who won the women in retail award in the Netherlands in the 2009 edition of this annual international online business plan competition.

The online competition in the Philippines is spearheaded by PBSP together with Citibank in the Philippines and the Citi Foundation in New York, the Dutch group BiD Network Foundation, and United Way.

With the aim of developing micro, small, and medium enterprises (MSMEs) to help spur economic activities in the country, PBSP earlier invited individuals with innovative business ideas to take the BiD Challenge and get the rare chance to compete with international entries from Africa to Latin America.

The PBSP-Citibank BiD Challenge Philippines 2010 aims to promote poverty reduction through enterprise development, with the aim of generating new and innovative business ideas combining poverty reduction and profit where viable ideas are being matched with potential investors.

Entrepreneurs also get exposure to a network of investors, experts, and business partners, receiving professional feedback and assistance from business coaches, plus a chance to win prize money, PBSP said.

The competition further aims to stimulate and support business ideas that combine making profit with the improvement of living standards in the country, as well as stimulate private sector development in the country by creating a platform where entrepreneurs, experts, networks, and investors can meet.

Baycrafts, which won in the category of women in business retail challenge in 2009, has produced and sold costume jewelry made from pearls, wood, fiber, seeds, crystals, and glass, with a complete line of jewelry including necklaces, bracelets, earrings, hair ornaments, rings, and anklets, among others. (PBSP)