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Effective Financial Management: A key to business success amidst uncertain times

Published April 14, 2021, 8:00 AM Every financial decision a manager or business owner makes affects the success or failure of an institution. This involves choices in the aspect of utilization of finances acquisition, sales, expansion, etc. Hence, sound financial decisions are crucial in effectively managing a business, including MSMEs. We must acknowledge however, that not all MSMEs are equipped with the right knowledge and understanding of financial management.  According to Dr. Alvin Ang, an economics professor from the Ateneo de Manila University, regardless of the size of an enterprise, the need for financial management is just the same. “It means understanding how funds come in and go out of the firm in its operations.  Financial management means that the firm knows how the company operates and understands what is/are needed to expand or stop or shift in order to sustain its profitability over time.  It may involve raising more capital, borrowing, or simply cutting ex

Reviving PH tourism through DOT s livelihood revitalization program

Reviving PH tourism through DOT s livelihood revitalization program enablePagination: false PHOTO FROM DEPARTMENT OF TOURISM Metro Manila (CNN Philippines) The COVID-19 pandemic not only triggered a health crisis, but it also clobbered the economy. Many businesses, especially those in the tourism sector, suffered as borders were closed and people werre advised to stay at home and avoid leisure travels. To address the business slump, the government came up with several ways to help affected businesses through the Bayanihan 2 loan relief, which includes the COVID-19 Assistance to Restart Enterprises for Tourism Rehabilitation and Vitalization of Enterprises and Livelihood program (CARES FOR TRAVEL). The Department of Tourism together with the Small Business Corporation (SBC) is implementing this program, a special financing facility under the Department of Trade and Industry for micro and small tourism businesses to help them restart amid the crisis.

BoI investment pledges reach P137 billion so far

BoI investment pledges reach P137 billion so far
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