JEDDAH, 12 October 2003 — Equipped with a positive attitude and entrepreneurial skills, people can become successful in business even in times of economic crises.
This was the message shared by Filipino business and financial executives during the Conference on Philippine Business Opportunities and Finance, which was launched recently by the OFW Cooperative Council (OFWCC) at the Tropicana Restaurant in Jeddah.
A numbers of business opportunities and financial investments were presented by the resource persons who were invited to advice the group and aspiring entrepreneurs on how to pursue their plans.
Victor Fernandez Jr., president of the Philippine Association of Service Exporters, Inc. (PASEI), said one does not have to wait for the so-called “conducive environment” to do business.
“There’s always an opportunity in every business venture, whether in times of war or calamity,” he said. “If you always wait for a good business condition to do business, if you wait for a bandwagon effect, you could be left behind.”
“Be a pathfinder. Turn chaos into opportunity. Don’t always rely on a good business environment because you will never be able to control the environment. It’s an unknown factor,” added Fernandez, who owns the Career Planners Specialist International Inc., a placement agency in Manila.
In an interview with Arab News after the forum, Fernandez also advised aspiring entrepreneurs to drop the “get-rich-quick” attitude, which, he said, often draws many Filipinos to go into the notorious “pyramiding” schemes.
Further, he said, aspiring businessmen need not start big. “You can start small but you must be in control. Don’t place the responsibility of running your business on others,” he said.
Manolo Carandang, manager of the Philippine National Bank (PNB) in Jeddah, said budding entrepreneurs should avoid the tendency to take shortcuts.
“First make your business legal and always think positive, don’t be discouraged and be ready in facing challenges,” he said.
Carandang also said proper planning is very important in business, including the hiring of the right personnel and investing in training to improve their skills. It is also essential for a businessman to have a thorough knowledge of the banking system.
Rodolfo Mateo, vice president of Asia United Bank and former Philippine finance attaché in the Kingdom, talked about two options in putting up capital to start a business.
One is the “owner’s equity,” which is the owner’s own capital. Another is the “owners liability,” which include secured loans or capital borrowed from any bank or financing institution.
“There are many specialized and guaranteed facilities from Philippine banks and government institutions available to fund the small and medium enterprise (SME),” he said.
Vice Consul Jose V. Jacob, the officer in charge of the Philippine Consulate in Jeddah, delivered an inspirational message and encouraged OFWCC members to continue conduct business planning workshops to help other OFWs become successful businessmen.
“The group’s objective is to create a business community among fellow OFWs here in Jeddah. We are planning initially to make membership for Filipino and Saudi businessmen to enhance business activity between the two communities and open a contact point to Filipino companies and business leaders,” said Ed Rufino, chairman of the OFWCC.
For inquiry on next business enhancement meetings, the contact persons are Ed Rufino at 052-751-657, Gil Martos at 055-625474 or Alan Exevea at 055-585943.
Fernandez said he was supportive of the plan and urged those interested to contact the PASEI through [email protected] or [email protected], or Career Planners through [email protected] or [email protected].
