The business development program at BPI assists new businesses

OhMi Krafts, one of the winners of SEAL-BEGIN, customizes souvenirs from polymer clays, beads, wood, and succulents.

The top 40 small businesses and top 20 nanobusinesses from this year's Small Enterprise Acceleration Lab (SEAL) program were recently revealed by the Bank of the Philippine Islands (BPI), in collaboration with Bayan Academy, through its social development division, the BPI Foundation (BPIF).

The SEAL Project Series was established in 2022 with the goal of empowering aspiring entrepreneurs as well as micro and nano businesses. For small business owners hoping to grow and maintain their operations, SEAL has emerged as a ray of hope thanks to its strategic interventions and practical advice.

Over 200 entrepreneurs received priceless training in marketing, operations optimization, and product and service development over the course of the last year from the SEAL-Small Enterprise Growth Agenda (SEAL-SEGA). Beyond merely imparting knowledge, the program provided customized solutions that tackled particular issues these companies encountered. In addition to receiving knowledge, top-performing businesses also benefited from financial grants and professional mentoring to support their expansion.

This year, BPIF gave cash grants ranging from Php80,000 to Php120,000 to 40 businesses that demonstrated exceptional potential. These companies will continue to gain from continuous mentoring now that they have the authority to carry out their strategic plans.

The SEAL-Business Education and Growth Initiative for Nano-entrepreneurs (SEAL-BEGIN) is a new track that BPIF launched this year. In order to assist aspiring entrepreneurs, SEAL-BEGIN offered basic training and resources, emphasizing the integration of digital-age opportunities.

Over 240 registrants took part in SEAL-BEGIN, and 20 nano-enterprises were honored for their creative ideas and promising potential. After receiving training in entrepreneurship, the participants were urged to use government and local resources to further their business endeavors.

“We have witnessed the entrepreneurs’ determination through the program, and we’re excited to see how they will scale their businesses in the future. It has been an honor to be part of their journey. BPI Foundation is committed to empowering small enterprises, and we believe that with the right support, these entrepreneurs can significantly contribute to economic growth and financial inclusion. We look forward to seeing their continued success as they transform their visions into reality.” ~Carmina Marquez, BPIF Executive Director

The SEAL program series has provided substantial cash grants to numerous businesses since its launch. The program is supporting a thriving and creative entrepreneurial ecosystem nationwide by providing extensive training, financial assistance, and mentorship.