Capital for Success: Project Bagong Araw month 3

Nanay Peonfe Antoc in front of her store

Sharing an update about the Nanays in Leyte from our partner, Hapinoy:

Just months into Project Bagong Araw, the participating Nanay (mother) micro-entrepreneurs are becoming more and more effective and strategic in running their own retail stores or sari-sari stores. Hapinoy and the Philippine Business for Social Progress (PBSP) provide business skills training, access to loan capitals, and physical store improvements for sari-sari store owners in Haiyan-affected areas. Last month’s lesson talked about capital management and business review to

help the nanays in maximizing the loans they received from the program.

Nanay Peonyfe Antoc shares how the capital loan and the accompanying capital management lessons have helped her grow her store. “Ngayong lumaki na yung negosyo ko mas marami yung bumibili sa akin dahil lumaki yung puhunan ko” “Now, my business has grown because I have more customers and because I now have more capital to work with.” Having additional capital means the Nanays are able to increase the items and the stocks in their stores attracting more and more customers to buy from them because they are able to offer more of what the customer needs.

Along with the loan, the Nanays are also equipped trough with capital management training modules. This helped Nanays like Nanay Eva Dispoho from Palo, Leyte to determine and track where their money actually goes. “Dati kasi hindi ko alam kung saan napupunta ang aking pera pero simula ng sumali ako sa Hapinoy nalalaman ko na kung saan napupunta ang aking pera at hindi na ako nagtataka ngayon kung saan napupunta ang pera” “Before, I did not understand where my money went but when I joined Hapinoy I am now able to track where my money is in the business and I do not wonder anymore where and how I spent it.” Because she now has a better grasp of how to manage the money that she puts in her business, she is able to maximize it and use it properly to grow her store. “Dati noong hindi pa ako Hapinoy member, kulang pa ang aking puhunan, kunti pa lang ang laman ng aking paninda, pero nung sumali ako sa Hapinoy na dagdagan na ang aking paninda” “Back when I still was not part of Hapinoy, I always lacked capital, my store had little stock. But when I joined Hapinoy, the items in my store grew and increased.” Nanay Eva has already seen a lot of improvements in her store and wishes to impart one lesson to other micro-entrepreneurs in the hopes of helping them achieve what she has within just a few months “Ayusin at mag focus [kayo] sa negosyo, at huwag kukunin ang puhunan at huwag gastusin sa ibang bagay” “Focus on your business and work hard on it. And be sure to not use the capital allocated for your business on other things.”

As the months pass by, the Nanays become more and more equipped to become successful entrepreneurs. They are starting to have the confidence they need to run their stores and the drive to step outside their comfort zones and explore the possibilities for their businesses. This is because they not only have the knowledge and skills to manage their stores now, but they also have the money to invest and start rebuilding their businesses.

Despite the challenges that they still face, the Nanays are becoming more and more hopeful in facing the new dead ahead of them. For Hapinoy and PBSP, it is our pleasure to be on this journey with the Nanays.