On July 18, the University of Southeastern Philippines-Malabog Extension Campus (USeP-MEC) in Paquibato Proper, Paquibato, Davao City, organized a capability development extension activity focused on financial management for small business owners. This initiative aligned with the school’s Bachelor of Science in Entrepreneurship academic program, and it aimed to address a pressing concern identified through participatory consultation with the Barangay Council, which highlighted financial management as one of the primary problems that needed to be addressed.
The activity was spearheaded by the faculty and staff of USeP-MEC, which focused on equipping entrepreneurs with the necessary skills to manage their finances effectively, which is crucial for running a successful business. In addition, the activity’s objectives were to enable small business owners to make informed business decisions, forecast future financial performance, identify potential issues, and plan accordingly. Through this activity, participants gained a deeper understanding of managing resources effectively and efficiently, enabling them to make informed decisions to help sustain their businesses.
During the activity, the resource speaker, Jevie M. Villa Abrille, CPA, MBA, shared valuable insights on financial management best practices, emphasizing the importance of budgeting, cash flow management, and financial reporting. He also provided practical tips and techniques on preparing financial statements, managing inventory, and making wise investment decisions.
The participants were engaged and actively participated in discussions and activities designed to reinforce their understanding of financial management principles. Additionally, they were introduced to various financial management techniques to help them track their expenses, manage debt, and optimize their financial performance.
The activityโs success was evident in the enthusiastic participation and engagement of the participants. They asked questions and shared their experiences and challenges related to financial management. With this, the trainers provided personalized guidance and feedback, ensuring each participant received valuable insights and practical takeaways.
Moreover, this capability development activity was a collaborative effort between USeP-MEC and the local community. The Barangay Council played a crucial role in identifying the need for financial management training and providing a platform for the activityโs implementation. The activityโs success demonstrated the importance of partnership between academic institutions and local stakeholders in addressing real-world issues affecting small businesses.
Lastly, the financial management extension activity held at USeP-MEC was a resounding success. It provided a platform for knowledge sharing and networking among small business owners. The partnership between USeP-MEC and the local community serves as a model for future collaborative initiatives that address the community’s needs and promote economic development.
Capability development activities are part of USePโs commitment to community outreach and extension services. By providing training and capacity-building activities, the university aims to empower small business owners in the area to grow their businesses and contribute to economic development.
