CIPO shares money management strategies to MSMEs

Vince Rapisura, president and chief operating officer of Social Enterprise Development Partnerships, Inc. (SEDPI) shared to Cebuano entrepreneurs the various forms of passive income on Thursday during the 3-day seminar provided by the Cebu Provincial Investment and Promotions Office (CIPO).

CIPO aims to attract local and foreign investors by offering a one-stop shop for investment concerns such as business information, market updates, investment facilitation, logistic support and strategic networking.

CIPO head Benjamin Yap shared Governor Hilario P. Davide III‘s message to the participants composed mostly of business owners in Cebu.

Davide stressed the contribution of micro, small, medium enterprises (MSMEs) to the economy saying they are the backbone of the country’s economic growth.

The governor also acknowledged the challenges facing entrepreneurs in finding resources for their businesses.

Bahalag ginagmay basta naa’y kanunay,” Davide said in his message.

In his development agenda, Davide gives attention to improve Cebu’s business competence, which recently landed him among DILG’s Top Performing Governors.

Rapisura talked about how he started his company’s successful strategies in money management. He also explained other forms of passive income such as rent, dividends and interest.

Rapisura said that passive income spikes the enterprises’ earnings adding that these incomes maximize earnings and wealth and guide businessmen in reaching financial security.

“Typically, ang investment na pumapasok, yan na ang passive income,” said Rapisura.

He added that most of those he taught in seminars don’t have passive income.

He shared that participants may get inspirations from his book “Learning Wealth” which talks about unbeaten scheme in money management.

Melinda Gabuya, a budget management expert, shared her 5-15-20-60 budgeting rule. The rule, she said, pertains to percentage allocations on certain fields.

“One should have 5 percent for insurance premium, 15 percent for savings, 20 percent for loans and investments, and 60 percents for expenses inclusive of tax,” she explained.

Of the 250 attendees, 150 are Cebuano MSMEs who were surprised to be given a free copy of “The Learning Wealth” signed by the author Vince Rapisura. (Francis Torralba)