Sinulog fair logs P3.6M in sales-A A +A
Wednesday, January 22, 2014
MICRO, small and medium enterprises (MSMEs) generated P3.574 million in sales during the Sinulog Fiesta Fair 2014, which is higher than the P3.45 million earned during the same 11-day period last year.
Elias G. Tecson, chief trade and industry specialist of the Department of Trade and Industry (DTI) Cebu, said the product sector displayed gifts, décor and houseware (GDH), fashion accessories, footwear, health and wellness products and processed foods, including Cebu delicacies.
The MSMEs also featured Otop (one town-one product) items like the rosquillos of Liloan, torta of Argao, tableya of Argao, chicharon of Carcar, footwear of Carcar and guitars of Lapu-Lapu City.
Tecson said the exhibitors were mostly from Cebu but there were MSMEs from Manila, Davao City, Cagayan de Oro City and Bohol. The fair was held in SM City Cebu.
Maexel Chichabites and Snackfood, the top seller for the food category, generated sales of P426,938 in 11 days. For the non-food category, Ferangeli Guitar and Handcrafters was the stop seller.
Tecson urged all people to undergo entrepreneurial skills with DTI so they may know how to manage micro, small and medium business.
“They should not only undergo skills training but entrepreneurial training so they may know business strategies. If a person knows how to do business, no matter how small it is, there is a tendency that he will grow financially”, Tecson said.
DTI is also helping existing cooperatives to finance their small and medium businesses.
He said that a cooperative in Consolacion town named “Cenvedco” has been granted P5 million for its dairy business.
A cooperative is owned by all its members who will receive dividends of their investment every year, especially during the annual general assembly.
“The only way that our local producers can compete is through economies of scale, procurement of cheap materials, good designs, marketing strategies,” Tecson said.
Published in the Sun.Star Cebu newspaper on January 23, 2014.