Courtney Jordan Foundation in the Philippines is Igniting Local Entrepreneurship for Sustainable Growth,
Sulong Negosyo—meaning “to move forward” in Filipino—embodies the spirit of progress and resilience that defines Filipino communities, particularly those in underserved areas. As a core sub-program of The Courtney Jordan Foundation in the Philippines, Sulong Negosyo aims to foster local entrepreneurship by equipping aspiring business owners with the tools, resources, and mentorship necessary to turn their ideas into thriving businesses. At its heart, this initiative is more than just about starting businesses; it’s about creating a sustainable ecosystem of entrepreneurs who contribute to the local economy, generate employment, and pave the way for lasting community growth.
The Philippines has witnessed a rapid rise in entrepreneurial activity in recent years, with the Philippine Statistics Authority (PSA) reporting that nearly 30% of Filipinos are engaged in small business activities. However, the path to successful entrepreneurship is often riddled with challenges, especially for individuals from marginalized communities. These entrepreneurs face systemic barriers such as limited access to financial resources, inadequate business skills, and a lack of mentorship. Sulong Negosyo directly addresses these barriers by providing an integrated support system that empowers local entrepreneurs to thrive in an increasingly competitive marketplace.
One of the core pillars of Sulong Negosyo is its business incubation and mentorship program. By partnering with experienced entrepreneurs, industry leaders, and business experts, the program offers personalized guidance to startups and small businesses. Entrepreneurs are equipped with practical knowledge about business planning, risk management, financial planning, and market positioning. Through mentorship, entrepreneurs learn to navigate the complexities of managing a business, from creating sustainable revenue streams to adapting to market shifts.
The Philippine Business Development Corporation has highlighted that businesses with access to mentorship have a 70% higher survival rate compared to those without. This statistic underscores the critical role mentorship plays in fostering successful, long-term businesses. Sulong Negosyo ensures that every business owner in its program has access to this invaluable resource, increasing the likelihood of their success and contribution to the local economy.
Access to capital remains one of the most significant hurdles for small and micro-businesses in the Philippines. According to a 2020 report from the Asian Development Bank (ADB), 40% of small businesses in the Philippines identify lack of access to finance as a primary barrier to growth. Sulong Negosyo seeks to bridge this gap by providing microloans and financial support to budding entrepreneurs who lack the collateral or credit history needed to secure traditional loans.
Through strategic partnerships with local banks and financial institutions, Sulong Negosyo offers affordable loans with flexible terms that enable entrepreneurs to cover startup costs, purchase inventory, or scale their operations. These loans, while modest in size, provide the essential seed capital that can make a significant difference in a business’s ability to survive and grow in the first few years. In the Philippines, where micro and small enterprises (MSEs) make up 99.6% of all businesses, providing financial support to these entrepreneurs is critical to the country’s overall economic health. By fostering the growth of MSEs, Sulong Negosyo is helping to create more job opportunities, drive economic diversification, and reduce income inequality.
The cornerstone of Sulong Negosyo is its comprehensive skills development component, which offers a series of workshops and training programs designed to equip entrepreneurs with the tools they need to manage and scale their businesses. These workshops focus on key areas of business management, including financial literacy, marketing strategies, customer service, and digital tools that can enhance business operations.
A significant gap in the Philippine entrepreneurial landscape is the lack of formal business education, particularly in rural and marginalized areas. Studies show that 60% of Filipino entrepreneurs lack the technical know-how to run a successful business, with a particular deficiency in areas like financial management and marketing. By offering skills development programs tailored to the needs of these communities, Sulong Negosyo enables entrepreneurs to increase their business acumen and make informed decisions. The training equips them to compete in dynamic markets and improve their chances of success.
Sulong Negosyo places an emphasis on digital literacy, a critical skill in today’s interconnected economy. With the rise of e-commerce, digital marketing, and online platforms, entrepreneurs need to adapt to the digital landscape to remain competitive. Sulong Negosyo helps entrepreneurs tap into the digital ecosystem, ensuring that they can leverage online tools for business growth.
The success of individual entrepreneurs has a multiplier effect on the broader community. As businesses grow and thrive, they create job opportunities, contribute to the local economy, and support social welfare through taxes and community investments. Sulong Negosyo aims to harness this ripple effect by fostering the growth of businesses that not only create jobs for their owners but also provide employment for others, particularly in rural areas where job opportunities are limited.
According to the World Bank, small and medium-sized enterprises (SMEs) account for 62% of employment in the Philippines, demonstrating the significant role small businesses play in reducing unemployment and promoting economic resilience. Through Sulong Negosyo, The Courtney Jordan Foundation in the Philippines is making a direct contribution to reducing poverty and improving living standards by providing the tools for sustainable entrepreneurship.
The Future of Sulong Negosyo: A Vision of Growth and Empowerment
As the Philippine economy continues to recover from the impacts of the COVID-19 pandemic, the role of small businesses and entrepreneurs in driving economic growth will become even more vital. Sulong Negosyo is poised to become a leading catalyst for entrepreneurship in the Philippines, empowering thousands of Filipinos to take control of their economic futures. By providing business incubation, microloans, and skills development, the program will not only help entrepreneurs achieve success but will also contribute to nation-building.
With 15 years of experience in community development, The Courtney Jordan Foundation in the Philippines has a proven track record of success in fostering economic growth through innovative programs like Sulong Negosyo. The future is bright for Filipino entrepreneurs, and with the continued support of programs like Sulong Negosyo, the Philippines will be better equipped to meet the challenges of tomorrow’s economy.
Through this initiative, The Courtney Jordan Foundation in the Philippines is igniting a new wave of entrepreneurship that will bring prosperity, self-sufficiency, and lasting change to Filipino communities across the nation. Join us today in supporting local businesses and building a more resilient, thriving future for all.
