053007: Hapinoy points out initiatives

Many thanks for your article on our microfinancing services initiative, Hapinoy. This is an initiative that we definitely hope will help tens of thousands of our fellow countrymen, and will be a powerful tool in poverty alleviation. We would just like to clarify a few points: 1. Hapinoy is organized by Micro-Ventures Inc., which is a separate entity from PinoyME. Although we are inspired by the ambition and scope of PinoyME, we are only part of its larger picture and scope. We hope to support PinoyME’s goals by focusing on Business Development Services. As such, former President Corazon C. Aquino is not directly involved with MicroVentures, though she serves as one of our inspirations in tackling poverty alleviation through microfinance. 2. Through the system that we’re setting up, we hope to increase our Hapinoy Stores’ profitability. One key way is to ensure that they are able to purchase their stocks at better prices, which is why we’re trying to configure the best arrangement either through Hapinoy stores and/or partner centers. We are considering several options, as long as we meet our objective of lowering our Hapinoy Stores’ acquisition costs. As a point of clarification also, we are not controlling the selling price of the Hapinoy Stores to the end consumers. At this point, we will allow the local micromarket forces take play. 3. Our model is configurable per area. In some cases, we will be accessing the manufacturers’ distributors and, in other cases, working with wholesalers in the area or both. As stated above, our Hapinoy Stores’ profitability is foremost on our minds. 4. Aside from increasing our Hapinoy Stores’ profitability through lower acquisition costs, we also provide training through our SariSariSkwela. This will help increase their efficiency, effectivity and, eventually, evolve them into new businesses. 5. Also, just to clarify that our Hapinoy Stores are not disallowed from selling liquor and cigarettes, but, at this point, these products will not be included as some of the participating products in our system. We believe that this endeavor will help many of our less fortunate brothers and still be a good business proposition for companies that have joined us. We hope more organizations, like yourself, and individuals will join the cause.  Bam Aquino Managing Director MicroVentures Inc.

 

http://www.businessmirror.com.ph/05302007/opinion06.html