USC studes operate own biz at the 6th Entrepreneurs Fair

CEBU, Philippines - In its aim to produce “real” entrepreneurs who are committed to do business with integrity, the University of San Carlos (USC) recently conducted its 6th Entrepreneurs Fair last August 25-27 at Ayala Activity Center with its students operating their own enterprises.

Corazon Gaanan Anzano, faculty member of the USC Department of Business Administration and Economics, said that it has been part of the Business Practicum Program Course for Bachelor of Science in Entrepreneurship and Bachelor of Science in Business Administration Double Major in Marketing and Entrepreneurship to expose the students to the public and not just orient them with theoretical approaches.

The Entrepreneurs Fair that started in 2009 has become the avenue of business administration students to showcase their talents and skills in managing business, she continued.

She said that they are required to set up their own business, create a business plan that should be approved and defended successfully and run it for two years.

“They must make profit and it is a requirement. We are preparing the students to be the best micro, small and medium enterprise owners and hopefully, influence others to become entrepreneurs even though they are young. There is actually no age limit,” she told The Freeman.

With an initial capitalization that ranges from P80,000 – P300,000, a group consisting of a maximum of eight students can run any business related to food, non-food and services sector and register it with the Department of Trade and Industry.

Although the students encounter struggles such as product diversification, oral defense and finances, she added that there is a faculty monitoring and technical expertise shared by successful businessmen to assist them.

The 22 groups composed of 134 third year and fourth year students are supervised by Anzano as their practicum coordinator and 20 advisers for marketing, finance, operations and human resources.

For this year, she cited that one of the achievements in the curriculum was the funding from Industrial Guarantee Loan Fund given to three entrepreneurs for the first time of which 80% of their capital will be sponsored by the Development Bank of the Philippines.

USC Department of Business Administration Chair Grace Marie Lape said that competition could also be observed during the fair since the group with the highest sales will be determined according to the most number of units sold as issued in the receipts.

Aside from other exhibits and fairs, she further encouraged the students to continue their businesses after graduation and make entrepreneurship as their way of life.

Exhibitors include Burger Bites, Concave SK8 Park, Costume Factory, Dough It, Drive In Car Wash, E Compass, Eleganza, Homepage, Kyut Giftshoppe, Leaflets Handicrafts, Little Hand Creations, Mobile Skatepark, Polycrafts Gifts and Giveaways, Powderville Enterprise, Pro ACCS/ ID Prohold, Ragrats, S.T.A.R. Broiler Growers, Se7enshots Photography, SFC CO. – Vogawise Matbag, Sleeve-up Marketing, Terra Enterprises and You Deaal Guyabano Tea.