Owning a business can be a profitable venture. But not all entrepreneur can start a business due to lack of startup capital. Good thing is that the Department of Labor and Employment is offering.
Recently, DOLE made an announcement that they will offer financial assistance to interested entrepreneurs. The financial assistance is under the integrated livelihood program of the agency. Qualified individuals will have a chance to avail the amount of Php20,000 to start a small business. However, an organized group with 15 to 25 members can avail financial assistance of Php250,000. A group with 26 to 50 members can avail a startup capital amounting to Php500,000.
One of the beneficiaries of DOLE’s financial assistance is Lito Malaggay of Baguio City. He used to create artworks made from tie wire and sell it. Through his creativeness and the help of the Department of Labor and Employment his small business succeeded.
When he knew about the financial assistance the agency has to offer, he immediately proceeds to DOLE’s office. During the “Kabuhayan Awards” held by DOLE, Malaggay received the financial assistance.
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This program started in 2018. In fact, more than 80,000 beneficiaries are given fund that they can use to start a business. To avail the assistance, the applicant must have a business proposal. According to the Director of the Bureau of Workers with Special Concern, the agency has been encouraging the public to avail the livelihood assistance.
Beneficiaries of the program can also promote and market their products on the official website of DOLE. This is a great help for the beneficiaries because they can reach out to more potential buyers of their products through the online platform.
Interested individuals or group may proceed to the nearest regional office of DOLE or Public Employment Service Office.
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