business

Realizations and lessons learned from COVID-19

September 22, 2020

And why it’s important to be financially prepared for anything, pandemic or not  When the COVID-19 pandemic quickly swept the world, it became apparent to all of us that our frequent five-minute handwashing and wearing of surgical face masks wouldn’t be enough to keep everyone safe.To contain the spread of the virus, we were told to stay home or stay six feet apart. And just like that, life as we know it came to a near-halt.  Months after Enhanced Community Quarantine (ECQ), and with no vaccine in sight, we can’t say how long till we return to our normal routines. But we can all find comfort in the fact that we’re dealing with this pandemic together, and we’ll overcome it in the same way. Life as we know it might change forever but we can go on, worry-free, if we stay informed and prepare for the future.  Because while the future is uncertain, we can always take steps to prepare today so we can worry lesstomorrow. COVID-19 has affected our lives in different ways but the lessons we learned from it are essentially the same. Here are five lessons everyone learned or should learn, especially now that most of us are finally back to work.  1. Health is indeed wealth Your health is your best asset—both physically and financially. Pandemic or not, protecting your health always comes first. And having good health and being in shape give you more energy to work hard for your family while pursuing your passions. Staying healthy saves you a lot of money too. After all, getting sick is not cheap. You have to pay for medicines, treatment, and confinement. Costs for COVID-19 treatment can reach millions, and so do other critical illnesses like cancer, heart attack, renal failure, or stroke.  But if you do get sick (and often these illnesses will just strike without warning), there are ways to make sure you are financially prepared. Protection plans like FWD Insurance’s Set for Health ensure that you have the money you need to pay for any medical bills. It allows you to claim up to three times against major critical illnesses—and if you remain healthy by 75 years old, you’ll get your money back.  2. Good habits are important For years, we’ve been told to wash our hands properly. But we never really took it that seriously. Until this year. Now, it’s one of the best lines of defense against COVID-19. With most of us being called back to work or allowed to go outside, handwashing or sanitizing our hands are even more important. Let’s not forget to regularly disinfect and clean our homes either.  Other precautionary measures we learned recently leaving our shoes outside, showering and changing into new clothes immediately, and storing dirty laundry in disposable bags. 3. The importance of a rainy-day fund It’s a good idea to have a rainy-day fund to cover expenses in case of emergencies.  This is all the more relevant today during the COVID-19 pandemic. As the saying goes: hope for the best but prepare for the worst. Financial planning is important, especially if you’re the breadwinner. Life insurance plans like FWD’s Set for Tomorrow make sure that your family has the financial means to go on, protecting them from unpaid loans and sudden income loss due to death. OFWs who work abroad get additional protection, too. 4. Information is key. This year we’ve seen how the right information can actually save lives. From patients’ travel histories to accurate, science-based news about masks and social distancing. But a lot of information is still out there, and not all of it is checked. So when reading the news, check the source. Is it from a reputable channel, agency, or publication? Are the statistics and studies from credible research or government organizations? Let’s all be vigilant in spotting fake news. 5. It pays to be prepared The pandemic has showed many of us how extremely dependent we are on our paychecks and daily earnings. With no work or income for more than a month, a lot of us have struggled to make both ends meet. And this will continue with businesses laying off workers and instituting a “no work, no pay” policy. That’s why it’s important to be financially prepared and have a financial safety net so you can get through any emergency. It’s not too late to start securing your financial future today. Save. Invest. Protect. VUL plans like FWD’s Set for Life allows exactly that. You get both insurance and investment and pay for it monthly. You get to grow your money and, at the same time, secure your future – and your family’s. COVID-19 is a call for preparedness for everyone. The pandemic took us by surprise, but we learnedsome valuable lessons. Now that we know better, we can prepare better—physically, mentally, and financially. FWD Insurance is one of the few insurance companies that are digitally ready to help you financially prepare for the future. Its financial advisors are available to talk to you about your finances and help you with your financial goals via video chat or whatever channel is more convenient for you.

READ MORE
THE SM STORE | CIVIL SERVICE PROMO

September 17, 2020

In celebration of Civil Service month, we treat you with a 10% discount* at #TheSMStore from September 18 to 20, 2020. *With a minimum single-receipt purchase of P2,000 on regular-priced items upon presentation of government ID and SMAC

READ MORE
THE SM STORE | 9.9 SALE

September 9, 2020

Get an EXTRA 9% OFF on top of all items*  TODAY September 9 with #TheSMStore’s 9.9 Sale!  We got great selections for you, from fashion to home items! So what are you waiting for? Visit The SM Store nearest you or order via #SMCallToDeliver at #143SM (#14376) and be EXTRA! *With a minimum single-receipt of P3,000 Per DTI Fair Trade Permit No. FTEB- 104265 Series of 2020

READ MORE
29th Mindanao Business Conference 2020 | Capacity Building Measures for business survival & continuity pushed

September 7, 2020

The affiliate chambers of the Philippine Chamber of Commerce and Industry in Mindanao will present the national government during the 29th Mindanao Business Conference on September 10-11, 2020 a package of capacity building measures aimed at ensuring business survival and continuity in the region. The first ever virtual conduct of Mindanao’s biggest business conference of the PCCI will be hosted by the Davao Chamber of Commerce and Industry, Inc. (DCCCII) through online live streaming via ZOOM with a record audience expected to participate in the online event despite restrictions on travel and gatherings brought by the ongoing coronavirus pandemic. “With theme, Mindanao: Journeying to the New Normal, we recognize the urgent need to boost confidence to overcome emerging challenges and opportunities,” said Ma. Teresa A. Alegrio, PCCI Area Vice President for Mindanao. “This stems from a deep understanding of what the new normal presents so that responses to meet them are carefully crafted.” MinBizCon is an annual event organized by the PCCI that aims to create a venue for businessmen, key industry players, government executives, and other private sector leaders to discuss economic concerns and opportunities in Mindanao resulting to policy actions for the development of the region. Through PCCI Mindanao Resolution no. 2020-004 (A Resolution Endorsing To The IATF-EID Proposed Intervention Measures For Business Survival And Continuity of Mindanao MSMEs and Other Industries) the 42 local Chambers of Mindanao will be requesting the National Government’s immediate and urgent intervention to prioritize a package of proposed recommendations aimed at ensuring  the business survival and continuity of Micro, Small and Medium Enterprises (MSMEs), in the manufacturing and industry, and agricultural sector. MSME’s constitute over 90 percent of the number of business establishments nationwide and in Mindanao. The resolution covers Health Care Capacity, Infrastructure, Economic Stimulus, Structural Reforms, Capacity Building, and Domestic Tourism. Capacity Building Among the Capacity Building measures being championed by PCCI Mindanao for urgent government action in prioritizing the following proposed recommendations for the business survival and continuity of MSMEs in the manufacturing, industry, and agricultural sector:   ·        For DTI to extend technical assistance and financial support to Local Chambers of Commerce & Industry (LCCI) and other trade or sectoral associations in the preparation of Business Continuity Plans to enable their dissemination to Micro, Small and Medium Enterprises (MSMEs) who may wish to apply for commercial loans under facilities of the Small Business Corporation in the LCCIs respective localities; ·        For DTI, DOST and DOLE to immediately implement Retooling and Re-Training Programs for MSME companies and workers of sectors belonging to non-essential goods and services; ·        For DOH to include as an urgent priority in its policy measures to make available RT-PCR testing kits at an affordable price through pooled purchasing for large scale agro-industrial and industries employing more than 200 workers and ancillary service providers, to enable them to continue unhampered operations, minimize lay-offs and most importantly, disruptions in key supply chains such as food, food processing and health related products and services; ·        For DOST to extend funding and technical support for Research and Development to City and State Colleges, Universities and Technical schools related to health care efforts that may directly impact the area’s COVID-19 response; and,   ·        For NEDA to create an Investment Promotions Committee in the Regional Development Councils in order to monitor the implementation of localized incentives to be implemented. The foregoing proposals were extensively discussed across all the 42 Local Chambers of Commerce in Mindanao during several Regional Consultations with PCCI President Ambassador Benedicto Yujuico, PCCI Mindanao Area Vice President Maria Teresa R. Alegrio, and PCCI Regional Governors Arturo Milan (South Eastern Mindanao), Roderico R. Bioco (Northern Mindanao), Paul Gudmalin (Western Mindanao), Pete Marquez (Central Mindanao), Aldrin Ibbo (BARMM), Julie Senense (Eastern (CARAGA) Mindanao) and Loreta Sy (South Western Mindanao) with Promote NorMin Foundation President Elpidio M. Paras. (PCCI Mindanao) 

READ MORE
29th Mindanao Business Conference | PCCI Mindanao champions Infrastructure Initiatives for business survival & continuity

September 7, 2020

The affiliate chambers of the Philippine Chamber of Commerce and Industry in Mindanao is championing a package of infrastructure intervention measures aimed at ensuring business survival and continuity during the 29th Mindanao Business Conference on September 10-11, 2020. The first ever virtual hosting of Mindanao’s biggest business conference of the PCCI will be hosted by the Davao Chamber of Commerce and Industry, Inc. (DCCCII) through online live streaming via ZOOM with a record audience expected to participate in the virtual event despite restrictions on travel and gatherings brought by the ongoing coronavirus pandemic. “With theme, Mindanao: Journeying to the New Normal, we recognize the urgent need to boost confidence to overcome emerging challenges and opportunities,” said Ma. Teresa A. Alegrio, PCCI Area Vice President for Mindanao. “This stems from a deep understanding of what the new normal presents so that responses to meet them are carefully crafted.” MinBizCon is an annual event organized by the PCCI that aims to create a venue for businessmen, key industry players, government executives, and other private sector leaders to discuss economic concerns and opportunities in Mindanao resulting to policy actions for the development of the region. Through PCCI Mindanao Resolution no. 2020-004 (A Resolution Endorsing To The IATF-EID Proposed Intervention Measures For Business Survival And Continuity of Mindanao MSMEs and Other Industries) the 42 local Chambers of Mindanao will be requesting the National Government’s immediate and urgent intervention to prioritize a package of proposed recommendations aimed at ensuring  the business survival and continuity of Micro, Small and Medium Enterprises (MSMEs), in the manufacturing and industry, and agricultural sector. MSME’s constitute over 90 percent of the number of business establishments nationwide and in Mindanao. The resolution covers Health Care Capacity, Infrastructure, Economic Stimulus, Structural Reforms, Capacity Building, and Domestic Tourism. Infrastructure Initiatives Among the infrastructure intervention measure being championed by PCCI Mindanao are the following: ·        For DOE, DPWH & DOTr to re-start the implementation of the following strategic infrastructure projects which are included in the Build-Build-Build program and the approved RDC Infrastructure projects of the national government: Shelter Projects under the Marawi Rehabilitation project; Mindanao-Visayas Interconnection Project; Rehabilitation of the Agus and Pulangi Hydropower Complexes; Mindanao Railway; Expansion of the Laguindingan Airport; Panguil Bay Bridge, and Improvement of Night Landing and Runway facilities of Secondary Airports all over Mindanao. ·        For the Department of Finance (DOF) to prioritize funding allocation and procurement of services for all pending DPWH-DTI ROLL-IT projects to expedite and efficiently transport raw materials from agricultural areas to main processing or manufacturing centers; ·        For the Department of Information and Communications Technology (DICT) to provide access for local/Private Telecommunications Companies, Cable TV, Internet and Value Added Service Providers to their existing tower facilities and infrastructure including unused internet bandwidth, to fast track deployment of broadband internet services to underserved areas in compliance with its mandate of bringing information and communications technology to all Filipinos; ·        For DICT to enjoin the National Electrification Agency (NEA) to suspend its recent rate increase in Pole Rental Fees for rural electric cooperatives to reduce the costs for Telcos, Cable TV and Internet Service Providers to consequently stop these being passed on to consumers, and ultimately enable more people especially in remote areas, gain access to affordable communications that provide urgent, essential and timely information during this time of the pandemic; ·        For DILG to order the LGUs and other government agencies, to reduce the number of permits now being required in the building and erection of Telco cell site tower and radio facilities and in the roll out and installation of fiber optic and coaxial cables underground and aboveground, in order to fast track the deployment of much needed Broadband Internet infrastructure nationwide which is crucial to the success of DepEd’s online education program. The foregoing proposals were extensively discussed across all the 42 Local Chambers of Commerce in Mindanao during several Regional Consultations with PCCI President Ambassador Benedicto Yujuico, PCCI Mindanao Area Vice President Maria Teresa R. Alegrio, and PCCI Regional Governors Arturo Milan (South Eastern Mindanao), Roderico R. Bioco (Northern Mindanao), Paul Gudmalin (Western Mindanao), Pete Marquez (Central Mindanao), Aldrin Ibbo (BARMM), Julie Senense (Eastern (CARAGA) Mindanao) and Loreta Sy (South Western Mindanao) with Promote NorMin Foundation President Elpidio M. Paras. (PCCI Mindanao) 

READ MORE
29th Mindanao Business Conference 2020 | PCCI Mindanao endorses ‘Bubble Markets’ to revive domestic tourism

September 7, 2020

The affiliate chambers of the Philippine Chamber of Commerce and Industry in Mindanao will endorse to the national government measures aimed at capturing “Bubble Markets’ for the revival of domestic tourism in the region during the 29th Mindanao Business Conference on September 10-11, 2020. The first ever virtual conduct of Mindanao’s biggest business conference of the PCCI will be hosted by the Davao Chamber of Commerce and Industry, Inc. (DCCCII) through online live streaming via ZOOM with a record audience expected to participate in the online event despite restrictions on travel and gatherings brought by the ongoing coronavirus pandemic. “With theme, Mindanao: Journeying to the New Normal, we recognize the urgent need to boost confidence to overcome emerging challenges and capitalize on opportunities,” said Ma. Teresa A. Alegrio, PCCI Area Vice President for Mindanao. “This stems from a deep understanding of what the new normal presents so that responses to meet them are carefully crafted.” MinBizCon is an annual event organized by the PCCI that aims to create a venue for businessmen, key industry players, government executives, and other private sector leaders to discuss economic concerns and opportunities in Mindanao resulting to policy actions for the development of the region. Through PCCI Mindanao Resolution no. 2020-004 (A Resolution Endorsing To The IATF-EID Proposed Intervention Measures For Business Survival And Continuity of Mindanao MSMEs and Other Industries) the 42 local Chambers of Mindanao will be requesting the National Government’s immediate and urgent intervention to prioritize a package of proposed recommendations aimed at ensuring  the business survival and continuity of Micro, Small and Medium Enterprises (MSMEs), in the manufacturing and industry, and agricultural sector. MSME’s constitute over 90 percent of the number of business establishments nationwide and in Mindanao. The resolution covers Health Care Capacity, Infrastructure, Economic Stimulus, Structural Reforms, Capacity Building, and Domestic Tourism. Domestic Tourism Among the measures to be presented by PCCI Mindanao to revive Domestic Tourism during the MinBizCon are the following: ·        For DOT to consider "Bubble" connectivity: Select safe markets from where tourists can travel to similar “Bubble” destinations. DOT to coordinate the guidelines for  identifying “Bubble” markets with the national, regional and local IATFs; ·        For Regional DOT offices to promote weekend staycations from nearby cities in each region, making up the safe "bubble" market, no foreign or other tourists from abroad allowed. DOT accredited and sanctioned hotels with strict safety protocols to be utilized in this recovery program; ·        For LGUs to start campaign to capture the Mindanao "bubble" market. Focus on road travelers with pre-arranged hotel accommodations. Pre-arranged tours would also be encouraged; everything online. ·        For DOT and LGUs to coordinate and endorse with IATF-EID the relaxation of travel restrictions for minors below 21 years old and senior citizens above 60 years old in areas where MGCQ is implemented, provided that accredited tourism destinations which are primarily for outdoor activities, strictly enforce all health and safety protocols subject to regular inspections and evaluation. The foregoing proposals were extensively discussed across all the 42 Local Chambers of Commerce in Mindanao during several Regional Consultations with PCCI President Ambassador Benedicto Yujuico, PCCI Mindanao Area Vice President Maria Teresa R. Alegrio, and PCCI Regional Governors Arturo Milan (South Eastern Mindanao), Roderico R. Bioco (Northern Mindanao), Paul Gudmalin (Western Mindanao), Pete Marquez (Central Mindanao), Aldrin Ibbo (BARMM), Julie Senense (Eastern (CARAGA) Mindanao) and Loreta Sy (South Western Mindanao) with Promote NorMin Foundation President Elpidio M. Paras. (PCCI Mindanao) 

READ MORE

Subscribe Now!

Receive email updates from Mindanao Daily News.