PNoy's cousin talks on entrepreneurship at CIT University

CEBU, Philippines - Social entrepreneurship is one way to address the issue of poverty in the country. This was according to Paolo Benigno “Bam” Aquino in his “Youth Forum Social Entrepreneurship” seminar yesterday at the Cebu Institute of Technology University organized by the school’s College Supreme Student Government.

Bam, who started the Hapinoy Advocacy in 2006, shared to students the importance of social development communities to come up with more social development programs.

Bam, cousin of President Aquino, said that the youth in particular play a special role in the social entrepreneurship given the advances they are more exposed to like social media and other newer means of business and trade.

Bam, who is a World Economic Forum Young Global Leader awardee, shared that when they started Hapinoy years back, they had a simple idea in mind, and that was to help out the small convenient store owners or locally known as sari-sari store owners in the country which sum up to around a million of small players all over. Hapinoy comes from two words, Happy Pinoy, a colloquial words for Filipinos.

Majority of this sari-sari store owners are independent players. They thought that if they are able to link the owners as one group, the possibility of better benefits could be acquired like discounts, promotions, better products and services and programs that would help them holistically.

Aquino shared that when they were finally able to take action on their goal to help the sari-sari store owners, they strengthened their advocacy by adding goals like transforming the mindset of society, upholding dignity of entrepreneurs through livelihood and empowering through enterprise.

He said that they also see this as a new form of people power where sari-sari store owners are given a voice, plus more opportunities are provided wherein more potential store owners would be interested in especially the youth.

“If we have more people involved in social enterprise, it would be easier for us to reach our goals.”

Currently, Aquino said that 90 percent of the country is comprised of the poor. However, he said that this is not the poorest of the poor. He explained that the poorest of the poor is at 20 percent and these are the members of society that needs bigger amount of support which some programs of the government are focused on.

But he said that 40 percent are the “Masang Pinoy,” where opportunities are needed for growth given the skills, capital and support.

As for the previous concern of sari-sari store owners on the strengthening presence of bigger companies, he said that this can be compensated because most of the multi-national companies sell branded items. Although majority of sari-sari stores have branded products, they are asking the owners to have at least 80 percent on these products, so they can still sell locally made products.

Roxanne Hernaez, president of the College SSG of CIT-U, said that they decided on the particular topic and on having Aquino because they idolize the young leader and sees his advocacy as very impressive.

Aquino was the former chairman of the National Youth Commission, the main youth policy making arm of the Philippine government.

“He creates change,” said Hernaez adding that social entrepreneurship is important for young individuals because it builds a community and where they can practice their skills, widen their exposure on more information and opportunities and most importantly help their fellowmen.

Hapinoy is under the MicroVentures Incorporated, headed by Aquino which “aspires to be the leading partner of micro entrepreneurs in the Philippines.”— (FREEMAN)