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241st Issue Volume 60 No. 1 Wednesday 13 January 2010 |
In this issue |
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SME in Focus Being resilient and optimistic
The WB stressed that the country has not registered sufficient growth since 2006 to lift millions of Filipinos living in poverty. According to the Asian Development Bank, around 20 percent of Filipinos live in chronic poverty and the country's poverty reduction rate of 0.47 percent is slower than those of Southeast Asian neighbors Laos, Thailand and Vietnam. To exacerbate the situation, the ADB report noted the Philippines was the only one which recorded an increase in the number of poor people since 1990. Indeed, the country is in a tough situation. However, there is a bright spot in the horizon. Remittances from Filipino expatriates kept the economy afloat. According to Bangko Sentral ng Pilipinas data, remittances of Filipinos working abroad from January to October this year totaled $14.3 billion. In October alone, $1.531 billion-the highest monthly so far this year, was sent from various workplaces in the Asia, Europe and the United States. Interestingly, the increase in remittances has defied the earlier projections of the International Monetary Fund and the ADB that it will experience a contraction soon. Despite its share of criticisms, the Filipino diaspora has proven to be time and time again the white knight of the economy. Filipino expatriates have the funds and capability to be catalysts of development not only in remitting their hard-earned money but also lending their world-class expertise and knowledge, and investing their accumulated capital in the home market. Member-At-Large B-LY Fish Frozen Hauz
In 2000, at the emergence of the tuna value-added products as an allied industry of the city’s tuna fishing industry, B-LY consigned TVAP items, such as tuna chorizo and tocino. Sales of these value-added food items grew and the demand continued to increase. In 2006, B-LY attended food processing livelihood trainings and started to produce its own Tuna Value-Added Product line. They now produce 11 types of tuna value-added products. Visit its site, www.blyfish.com. Featured SME Popular Bookstore: Haven for Booklovers
Second generation bibliophile Geraldine “Dina” Po points out that her late father Joaquin preferred that Popular Bookstore—located in the Tomas Morato neighborhood in Quezon City—remain modest in size, consistent and focused with its objective.
Tax Calendar 2010 January
SME Events 2010 January
SME Power Quote “The most efficient way to produce anything is to bring together under one management as many as possible of the activities needed to turn out the product.” –
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No less than the World Bank (WB) reported a positive outlook on the country’s economic performance in 2009 and 2010. According to the multilateral financing institution’s report, the Philippine economy is expected to grow 1 percent in 2009 and between 3.4 to 3.5 percent in 2010, a decent performance considering the impacts of typhoons Ondoy (Ketsana) and Pepeng (Parma). But there are things the Philippines has to worry about.
Since it started operating in 1997 as a retail outerly for Sarangani Prime Bangus Products, , B-LY Fish Frozen Hauz, a member of good standing with the GSC Chamber of Trade and Industry, Inc. and GSC SMED Council, has made name in the food industry.
Majority of entrepreneurs will aim for expansion and bigger returns. Popular Bookstore took a different and an unusual route. The bookstore founded by Joaquin Po with his brothers Alfredo, Vicente and Jesus—has maintained its leanness and effectiveness since 1946.
SME Products and Services |
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