Want to be the next Jollibee or Mary Grace?
Like most entrepreneurs, Cristina Roque brings her characteristic optimism to her role as the new Secretary of the Department of Trade and Industry (DTI). While recognizing the vital role of micro, small, and medium enterprises (MSMEs), which constitute 99.63 percent of the Philippine economy, she is prioritizing a significant boost to international trade and investment.
Instead of dwelling on lifestyle topics, Roque, who hails from the fashion industry, prefers to highlight how major global companies are contributing to the nation’s economic growth. Inquiries on foreign investments have been coming.
She cites the establishment of a factory in Pampanga by Shera, Thailand’s leading fiber cement manufacturer, and the inauguration of a 10-hectare distribution center in Laguna by Danish logistics giant Maersk, reportedly its third largest globally. Likewise, Tesla and BYD, prominent players in the electric vehicle market, have opened showrooms in the country.
Roque believes these foreign investments will generate substantial employment opportunities.
Last November, she represented President Marcos as a special envoy at the Asia-Pacific Economic Cooperation (Apec) summit in Lima, Peru. Roque was warmly welcomed by world leaders.
Consumer protection
Dismissing critiques about the administration from naysayers and pundits, Roque said, “We tend to focus on what’s wrong before considering what’s right. However, as a leader, I’ve always been optimistic.”
While acknowledging that challenges in any system exist, she believes that concentrating on the positive is important if the country is to move forward.
Aside from boosting foreign trade, consumer protection remains a key priority for the DTI, she said. This includes ensuring product safety and safeguarding consumers from profiteering and overpricing, particularly in the aftermath of disasters.
Roque, a seasoned entrepreneur with 30 years of experience, joined the DTI as undersecretary with a mandate to develop MSMEs. She believes that MSMEs must enhance their competitiveness. “It’s largely a matter of mindset,” she said, underscoring the need for a strong entrepreneurial drive. She cited many examples of how small businesses have successfully evolved into significant enterprises.
Housewife Mary Grace Dimacali transformed her passion for baking fruitcakes into a thriving chain of bakeshop-cafes. Dr. Tony Cat-Kiong and his wife Grace, recognizing a market opportunity, converted their ice cream parlor into a snack bar, initially offering hot dishes such as Jollibee hamburgers. Today, their venture has blossomed into a fast-food empire with over 1,500 outlets across 17 countries. Corazon Dayro Ong and her husband Jose, who began by selling meat products from their home, nurtured their business into CDO Foodsphere, one of the nation’s leading meat processing companies.
Drawing from DTI’s programs and her extensive experience in the private sector, the Secretary outlined a comprehensive strategy to guide MSMEs toward success.
She pointed out the critical role of digitization in today’s market. “How else can you get the message across and sell?” Roque remarked, highlighting the widespread use of mobile phones among Filipinos.
Diversification
The Secretary also underlined the importance of diversification. Citing Jollibee as an example, she said that while the company is famous for its burgers, its fried chicken and spaghetti have become its top-selling items. This demonstrates the value of expanding product offerings to capture a wider market.
Franchising, another key aspect, involves established systems, and franchisees enjoy greater bargaining power for supplies, leading to increased profitability. Moreover, a successful franchise model enhances the company’s overall value to investors by facilitating rapid expansion and generating substantial revenue.
Roque acknowledged the crucial role of funding. She encouraged small entrepreneurs to seek assistance from the Small Business Corp. regarding credit and financing options.
To assist MSMEs impacted by natural disasters, the DTI launched the Enterprise Rehabilitation Financing program. This emergency fund offers specialized loans with attractive terms, covering the costs of repairing and replacing damaged assets, facilitating operational recovery, and compensating for revenue losses.
Recognizing the unique challenges faced by micro-retailers, commonly known as sari-sari stores, the DTI has established a diversification fund. This fund aims to empower these small businesses by enabling them to expand their product offerings and service
Finally, she highlighted the significance of mentoring. Entrepreneurs can benefit from collaborating with experts to improve their products or services. For micro-entrepreneurs, access to training in accounting or social media marketing can be invaluable for business growth.
Roque’s advice to people in business: “Never give up. You might surprise yourself. Starting small can be your ace. Use this as motivation to reach your full potential.”
