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Presented by: Myrna T. Yao Chairperson National Commission on the Role of Filipino Women

APEC Symposium on SME Strategies to Manage the Impacts of the Global Financial Crisis June 8-9, 2009, Taipei, Taiwan. Women-Owned Enterprises and the Financial Crisis. Presented by: Myrna T. Yao Chairperson National Commission on the Role of Filipino Women. Impact of crisis on women.

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Presented by: Myrna T. Yao Chairperson National Commission on the Role of Filipino Women

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  1. APEC Symposium on SME Strategies to Manage the Impacts of the Global Financial CrisisJune 8-9, 2009, Taipei, Taiwan Women-Owned Enterprises and the Financial Crisis Presented by: Myrna T. Yao Chairperson National Commission on the Role of Filipino Women

  2. Impact of crisis on women • Job loss • Tightening of credit from banks and other lending institutions • Reduction of remittances

  3. Impact of crisis on women • 1 percent decline in the growth rate of a developing country traps an additional 20 million people in poverty • 100 million people driven into poverty by high food and fuel prices World Bank Report

  4. Impact of crisis on women • International Labor Organization realistic scenario: • worst-case unemployment scenario wherein 22 million women of the total 55 million workers around the world will be unemployed this year partly as a result of the current global economic crisis

  5. Impact of crisis on women • International Labor Organization realistic scenario: • global unemployment rate for women could reach 7.4 • percent this year, from 6.3 • percent in 2008

  6. Impact of crisis on women • International Labor Organization realistic scenario in Asia: • number of unemployed people would increase by 7.2 million or at a rate of 5.1 percent • number of unemployed women would rise by 4.4 percent as compared with 3.8 percent for men (optimistic scenario)

  7. The brighter side • Philippine economy grew only by 0.4 % for the 1st quarter of 2009 • Philippines will not suffer a recession like other countries in the region . (Ralph Recto, Socio-Economic Planning Secretary)

  8. The brighter side • 3.1 percent to 1.4 percent forecast for the Philippines this year (Meryll Lynch-American investment Bank, May 29) • China would grow by 7.0 %, India will grow by only 5.0% (Asian Development Bank)

  9. Woman at the center of growth • reforms attributable to the Arroyo administration “are probably the roots of the economy’s strong points” • introduced financial reforms in the aftermath of the Asian financial crisis in l997 • improved income and spending balance as well as for the country’s manageable inflation rate

  10. Women empowerment in the Philippines • Republic Act No. 6725, an Act that strengthens the prohibition of the discrimination against women with respect to terms and conditions of employment • RA 7192, also known as Women in Development and Nation Building Act

  11. Women empowerment in the Philippines • Magna Carta of Women • recognizes the role of women in nation building and ensures the substantive equality of women and men • ensures the fulfillment of the human rights of women provided for in other international treaties and national laws

  12. Women’s economic empowerment • More Filipino women are now employed and continuing efforts are being made to improve their competencies and skills through continuous training and apprenticeship. • Credit programs have been encouraged and expanded to benefit a large number of Filipino women.

  13. Women’s economic empowerment • Efforts have been made to protect and promote the welfare and interests of Filipino women, giving them childcare benefits and addressing gender issues in the workplace. • greater government recognition of the critical role that small and medium enterprises (SMEs) play in capital formation, employment creation, and growth generation and greater attention to women in SMEs.

  14. Focus on SMEs • SME Unified Lending Opportunities for National Growth (SULONG) Program • aimed at promoting micro, small and medium enterprises (MSMEs) throughout the country (loans extended by the Government financing institutions (GFIs) under the program reached P32 billion in 2008 from P28.6 billion in 2007)

  15. 92% 7.3% 0.3% 0.4% Focus on SMEs • 783,065 - business enterprises in the Philippines in 2006 • 3,327,855 –jobs generated by MSMEs (2006) • 1,657,028 – jobs generated by large corporations (2006)

  16. Focus on SMEs • “Hapinoy” stores (for happy Pilipino or Pinoy) • small retail outlets in the countryside that are being set up through micro-finance institutions • majority of borrowers are women • no collaterals

  17. GEM: Global Entrepreneurship Monitor (2006-2007) • 4 of 10 Filipino adults (18-64 yrs.) are engaged in business (19Million approx) • Philippines ranked 2nd among 41 countries – in number of individual business owners • Philippines ranked 6th globally in terms of discontinued businesses (in the last 12 months) Reasons – financial, personal and intense competition

  18. Distribution of Total Early Stage Activity (TEA) • 53% - consumer-oriented businesses • 24% - extractive businesses • 19% - transformative businesses • 3% - business services HOWEVER, do you know that…. • Philippines is 2nd highest in percentage of entrepreneurially active females (among 42 countries)

  19. GEM Philippine ReportRecommends to: • Improve quality, availability & accessibility of financing • Enhance business growth potentials • Improve & expand R&D on small businesses • Promote stronger export orientation • Strengthen entrepreneurial values & attitudes • Boost interest in S&T • Make entrepreneurial education more practical & experiential • Emphasize critical role of local governments • Highlight women’s importance in enterprise development

  20. Personal Experience humble beginnings… • 1980 – Richwell Trading was established as franchise distributor of Goodyear tires • 1982, July - Richwell was awarded the exclusive distributorship of Mattel toys in the Philippines • 1989 – Richwell Phils. got the license to manufacture Barbie Dolls in the Phils.

  21. Personal Experience humble beginnings… • As a distributor and licensing agent, Richwell employs 1,300 employees (about 50% comprise the growing sales force) • Distribution channels continue to increase in Toys, Shoes, Apparel and Baby Products including Toiletries

  22. Formula to succeed during financial crisis • Diversity • Safe and quality goods • Creative marketing strategy • Strengthen financial capacity • Best value for money

  23. Formula to succeed during financial crisis • Clear direction of the company • Well planned strategies in sales and finances • Target competitors market share corporate responsibility: “Every Child Deserves a Happy Childhood”

  24. in the light of the present crisis, the nation’s competitiveness“rests greatly on its ability to plan and execute programs and projects that will subject its citizens and enterprises to the least risks possible; and be able to safeguard their interests in inevitable circumstances.” “Competitive Analysis of the Present Crisis,” Professor Ma. Lourdes Sereno, executive director, Asian Institute of Management Policy Center

  25. NCRFW believes… “with empowered women we can build a stronger nation” …Every mother, every woman deserves a happy and fulfilling life.

  26. … economic crisis is a time for change and new opportunities. The lessons that we have learned during the time of crisis should guide us as we move on to the future. We should welcome the current challenges and transform them into opportunities for further growth and development in our respective countries. MYRNA T. YAO

  27. Thank you…

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