Local entrepreneurs in the province of Ilocos Norte received financial assistance worth PHP1 million and an opportunity to grow their business through a mentoring program from experts in the industry.

Through a resolution certified as urgent by Governor Matthew Joseph Manotoc on Monday, members of the Sangguniang Panlalawigan (Provincial Board) authorized the governor to execute, for and in behalf of the Ilocos Norte government, a deed of donation with Anvil Business Club, represented by its president Jayson Sze, honorary chairman Hubert Henry Chua and chairman Wilson Lee Flores, for financial aid to enhance the capacity of MSMEs in the province.

“Aside from the initial PHP1-million donation from Anvil, they (the businessmen) also offered to provide mentoring and coaching sessions to our young entrepreneurs,” Rona Leigh Bueno, head of the Ilocos Norte Trade and Investment Promotions Center (INvest), told Philippine News Agency Monday.

Bueno said the financial aid will be turned over to the provincial government’s Incubation Center to help advance the competitiveness of local MSMEs in the world market.

“The funding support will be used to assist business startups, our incubatees and MSMEs to sustain their businesses,” said Elma Gabriel, head of the Ilocos Norte MSME Office.

Geared towards building the entrepreneurial culture of young Ilocanos, Gabriel said she is thankful of generous sponsors as well as the strengthened partnerships with public and private entities to advance the MSME sector, a key driver in boosting the local economy.

Gabriel said a number of promising MSMEs, including students, are taking advantage of the government programs and services such as capacity building seminars, skills training, provision of financial assistance and product development to increase their confidence in operating a business. (PNA)