Gov. Gwen Garcia urged some 295 qualified beneficiaries of Sugbo Negosyo Milyonaryo to take full advantage of the opportunities provided to them by the program, expressing hope that the assistance they would receive would help them turn their ventures into a success.  

“I hope that with the intervention of Sugbo Negosyo, your dreams will finally come true: for your families, for your children, for yourself,” Gov. Gwen said during the distribution of seed capital at the Capitol Social Hall on January 13.

“Remember, ultimately, sa kinabuhi, sa negosyo, it’s all up to you. Inyo nana; igo ra mi motabang aron motabang sab mo sa inyong kaugalingon aron molambo ang inyong negosyo,” she said.

The first tranche of seed capital worth P20,000 was distributed to the beneficiaries through QR-coded cards. Such amount is to be spent for the physical improvement of their place of business, such as renovation or beautification of the physical store.

In order to qualify for more fund releases, the beneficiaries must be able to pass the evaluation by the Sugbo Negosyo team and properly liquidate the funds according to COA rules. Only then can they claim P30,000 for the second tranche, and P150,000 for the third tranche — for the program’s a total assistance of 200,000 pesos.

Using the QR-coded cards in paying, they shall shop for pre-approved items from the Capitol’s partner stores, ensuring that Capitol funds are spent solely for their intended purpose as non-essential items shall not be covered by the QR cards.

During the event, the beneficiaries were also able to meet their esteemed mentors who would help them, from the start, on how to best utilize the funds for a more efficient and effective spending.

Thirty-three of these mentors come from the esteemed members of the Mandaue Chamber of Commerce and Industry and another 33 are expert personnel of the Department of Trade and Industry.

Apart from helping the beneficiaries in the financial aspect, the program also allows them to acquire much-needed skills, develop that elite business mindset, and grow a wider network that proves useful in the business sphere.

The program, now on its third season, has an allocation of another P100 million. The grand prize winner will bring home P1 million. | BJR