370 microbusinesses in Rizal and important VisMin provinces are strengthened by BPI

In order to enable microbusinesses to expand their operations and improve their industry strategies, the Bank of the Philippine Islands (BPI) launched the Small Enterprise Acceleration Lab-Business Expansion through Training and Application (SEAL-BETA) in several provinces throughout the nation through its social development arm, the BPI Foundation (BPIF).

370 microbusinesses from the provinces of Rizal, Cebu, Negros Occidental, Leyte, Samar, and South Cotabato received thorough business training and mentorship sessions from BPIF in collaboration with BPI Direct BanKo and DTI’s Philippine Trade Training Center – Global MSME Academy (PTTC-GMEA).

According to Department of Trade and Industry, micro, small, and medium (MSME) enterprises account for 99.63% or 1,241,733 of the business establishments in the country as of 2023. Micro enterprises comprise 90.43% of total establishments, followed by small enterprises at 8.82%, and medium enterprises at 0.38%.

BPI SEAL-BETA is a project specifically designed for micro enterprises to undergo intensive training that covers product diversification, digital payments, costing and pricing, negotiation, and entrepreneurial finance—aligned with BPI’s advocacy to help marginalized communities achieve financial wellness.

“We carried out this initiative recognizing that our microbusinesses, especially those situated in local barangays, have the potential to thrive when equipped with suitable training tailored to their needs. By empowering them to grow and innovate, we believe they can become self-sustaining and deliver services to their customers well,” said Carmina Marquez, BPIF Executive Director.

The implementation of the program also provided access to market by showcasing participants’ products and services during a market fair, which generated a total of Php2,250,000 in sales across six provinces. As part of the program, participants pitch their products and services, applying the knowledge gained from the training. Select entrepreneurs were awarded pitch grants of Php25,000 and booth set-up awards of Php20,000.

As of 2024, BPIF has supported 514 enterprises under SEAL-BETA.

BPI demonstrates its dedication to making a long-lasting and inclusive impact through sustainable financial education by offering microbusinesses hands-on learning and implementation.

Go to https://www.bpifoundation.org/ for additional details. For updates, follow BPI Foundation on Facebook (@BPIFoundation) and Instagram (@bpifoundationinc).