13-week entrepreneurship course designed to help aspiring Filipinos

Mariecar Jara-Puyod, Senior Reporter

Many have defied the odds and have become self-employed enterprising individuals. As of 2020 and across the globe, 528 million entrepreneurs, 274 million of which were women, out of employment opportunity lack, had been recorded by the Oberlo.com website.

The Dubai Chamber of Commerce and Industry-accredited non-profit organisation Philippine Business Council-Dubai and the Northern Emirates (PBC-DNE), has been conducting its 13-week entrepreneurship course – PBC-DNE Fellowship in 2019, PBC-DNE Genbiz in 2020, and the ongoing PBC-DNE Master-class – “designed to help aspiring Filipinos in their quest towards venturing into opening their own businesses” anywhere in the country.

At the end of the programme, all the students, majority of which are professionals and employed, are required to present before a jury their respective business plans. The winner is given the Dhs30,000.00 business grant to help him join the bandwagon of entrepreneurs worldwide.

“Each student is also automatically enrolled as individual PBC-DNE members; so they can enjoy the networking benefits and continually learn side-by-side with their fellow Filipino business entrepreneurs,” organisation vice chairman Allan Michael Bautista told Gulf Today.

The core topics for the Master-class are Business Foundation (the basics in setting up business in the UAE), People and Organisational Leadership (importance of investing in people in order to build a strong foundation for the business), Technology and Operational Management (the optimisation of business operations towards growth and development by way of technology and scalability), Marketing (customer relations towards loyalty and brand equity growth), and Business Finance (the comprehension of numbers towards a profitable business).

Jennifer De Leon enrolled because of her wish to learn the basics of setting up a business, critical of which is the financial aspect. Entrepreneur Tawan Taha wants to know more about “effective strategies to strengthen and broaden the network of our brand.” Joycelyn Marie Soufi has a dream business and wants not to fail and be sustainable.

Lecturers Celebrity District managing partner/Balikbayan Store chief operations officer Philip Vasquez, Matiti Group co-founder/managing partner Charul Chaturvedi Jaitly, and Canadian University Dubai-Undergraduate Programme associate dean Dr. Rommel Sergio shared their insights on the financial literacy initiative, supported by the Philippine Embassy, Philippine Consulate General, Philippine Investment Trade Centre, and the two Migrant Workers Offices which

Lyndon Magsino, the Group Chief auditor of a UAE-based financial institution and Ben Lebig Jr., the Corporate Business planner of an oil-and-gas company were likewise interviewed.

Magsino lectured on “Investment Strategies, Proposals and Partnerships” as well as “Debt Management” through which the commonest question asked him was whether or not to loan: “It depends on the Return on Investment (ROI) vs. Interest Rate. Borrowing money from bank entails an interest – that is the amount you pay extra to the lender on top of the principal amount borrowed. So if your borrowed money can generate higher ROI, it is called a ‘smart debt.” If you borrow money for wants and luxury items, it is considered a ‘stupid debt.’”

“Creating A Successful Business – The Convergence of Business Model Innovation and Data Analytics” is the topic of Jaitly who underscored that being an enterprising person is not only about start-ups but is concerned about “creating a foundation for sustainable growth and meaningful impact. The marriage of business model innovation and data analytics is a powerful formula for success. It enables you to build a business that not only stands out in a crowded market but also has the agility and the adaptability to thrive in an ever-changing landscape.”

Sergio led a workshop on the humane-ness of aspiring and well-established Filipino businessmen and their effective management styles: “Pakiramdam,” “Kayod,” “Libro,” and “Lusot” or respectively, the EQ Leader with the “innate ability to understand, interpret, and act on their own and others’ emotions effectively;” the “hands-on” Realist Leader; the Idealist Leader who capitalises on “formal education and a constant thirst for learning;” and, the “adaptive, flexible and quick-thinking” Contingent Leader.

“Filipino management styles encompass a diverse fusion of intuition, perseverance, knowledge and adaptability. Business owners must discern which style best resonates with the demands of their organisations and their personal attributes, fostering a balanced and fruitful work ambience.”

Vasquez who shall lecture on “Operations Management” and Lebig were asked regarding the value of mentor-mentee relationships.

“Mentors help their mentees learn and grow because they offer guidance, networking opportunities, knowledge transfer, and confidence-building for personal and professional development,” said Vasquez.

Lebig said the relationship goes beyond the classroom setting for the mentor and the mentee become colleagues through the PBC-DNE thereafter.