January 19, 2021

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ASEAN BAC Chairman Concepcion Establishes an Alliance Towards Prosperity

After the successful Prosperity for All Summit, ASEAN Business Advisory Council Chairman and Presidential Adviser for Entrepreneurship Joey Concepcion started an alliance with the country’s business chambers to create programs in creating prosperity for the micro and small entrepreneurs.

The Alliance Towards Prosperity For All is a long-term private sector-led campaign at the national level to build a multi-sectoral, multi-disciplinary alliance of organizations and individuals to pursue prosperity for all among ASEAN nations.

Members of this alliance are expected to participate in all upcoming ASEAN activities and help in the continuous campaign for infrastructure. They will also be part of the technical working committee which will develop a national platform for MSME development.

Go Negosyo, founded by Concepcion, will be the leading organization for this alliance in the Philippines. Go Negosyo has been in the forefront of entrepreneurship development since 2005. For the past 12 years, Go Negosyo has created a strong network of entrepreneurs and organizations from all industries helping micro and small entrepreneurs level up.

Aside from Go Negosyo, the Philippine Chamber of Commerce and Industry, Federation of Indian Chambers of Commerce and Industry, Federation of Filipino-Chinese Chambers of Commerce and Industry, Management Association of the Philippines, Makati Business Club, Financial Executives of the Philippines, European Chamber of Commerce of the Philippines, American Chamber of Commerce of the Philippines, Association of Filipino Franchisers Inc., Philippine Franchising Association, Chamber of Mines of the Philippines, Semiconductor and Electronics Industries in the Philippines, Bankers Association of the Philippines, and many more will join the alliance. 22 business chamber heads attended the initial meeting of the alliance and many pledged their support to this initiative.

Chairman Concepcion said, “Through this initiative, we are creating a sustained alliance to fight off poverty through empowering micro and small entrepreneurs.”

In addition, in order to create prosperity for all, the alliance aims to strengthen the 3Ms for micro and small entrepreneurs. 3Ms include Money, Market and Mentorship. Access to finance is one of the biggest problems of MSMEs. In order to sustain their businesses, microfinance institutions, grants and loans, and other government interventions must be accessible to them.

To help MSMEs scale up, they also need market linkages. Go Negosyo and several organizations promote inclusive business where large companies include micro and small entrepreneurs in their value chains. By linking MSMEs to corporations, they are given wider market access and a sustainable income.

Mentorship is widely implemented by Go Negosyo in partnership with Department of Trade and Industry through the nationwide-implemented Kapatid Mentor Me Program which is a weekly coaching and mentoring program for micro and small entrepreneurs.

ASEAN Business Advisory Council under the Philippines chairmanship also established the ASEAN Mentorship for Entrepreneurs Network (AMEN) which will be a pool of entrepreneurs, mentors, and experts who will share their knowledge to micro entrepreneurs across the region. Members of the alliance will also be part of the AMEN program.