CABUYAO CITY — A business plan can be thought of as a roadmap to success, providing clarity and structure to all aspects of a business, from marketing, to financing, and product or service analysis. As Benjamin Franklin said, “By failing to prepare, you are preparing to fail.”

Many enterprises go under soon after starting up because they failed to plan their business well. This is why Negosyo Center Cabuyao City of the Department of Trade and Industry Laguna Provincial Office in cooperation with the City Government Unit of Cabuyao City conducted a webinar on business planning and how to secure a business loan as part of their ongoing support and assistance to micro, small, and medium enterprises (MSMEs).

In addition to providing a roadmap for progress and marketing plan, a business plan can also be vital in securing financing as it answers questions about profitability and revenue generation.

Engr. Edelyn Aireen Muñoz is a Senior Business Counsellor assigned at DTI-Laguna Negosyo Center Pila. She is a licensed Electronics and Communications Engineer and has been with DTI since 2017. In this webinar, she gave a brief background on what a Business Plan is and why it is essential for every business.

She discussed the process of constructing a business plan and what the different parts of a business plan are. She also gave plenty of tips and tools to assist MSMEs in crafting their business plans. Muñoz also briefly discussed how out MSMEs can secure a Business Loan.

Overall, as the participants mentioned in the Client Satisfaction Feedback gathered online, the webinar was an effective and a timely tool in encouraging the existing and potential MSMEs to create their business plans. It also helped them gather what the banks and other loaning institutions are looking for in their loan applicants. ♦

Date of Release: 5 October 2020