Chinese blood in a Cebuano Entrepreneur
Another early influencers, are the Chinese who, by historical accounts, were already in Cebu islands even before Spaniards arrived in the Philippines. Chinese’s involvement in commerce in Cebu is so significant that they were all present in all business sectors ranging from food to sea transportation; retails to trading and in present times, have occupied large business interest in almost all kinds of industries.
When Chinese traders came ashore to the island of Cebu, the local folks slowly discovered an entirely different but complimentary style of doing business. As the Chinese were gaining grounds in the island of Cebu, either by buying more lands or expanding businesses or even by inter-marriage, the process of acculturation of Chinese entrepreneurial style took place with adaptation of values of frugality resourcefulness and resiliency which are constitutive of what Cebuano entrepreneurs are today. In modern lingo, these traits are sometimes termed as lean management, flat organization and value for money.
The Chinese entrepreneurial style for hundreds of years has been infused into the blood of Cebuanos. The values of being hardworking, innovative and frugal got blended with the entrepreneurial mindset of Cebuanos. In fact, most of the Cebuano entrepreneurs these days are of Chinese descent. Or it is even safer to say that a truly blooded Cebuano entrepreneur has a dominant Chinese lineage. Today you can find them in almost all business corners in Cebu.
Today’s Cebuano Entrepreneur in the Light of the Past
As the business climate in Cebu is getting more vibrant , Cebuano entrepreneurs are responding to the prevailing challenges with gusto by embracing a more proactive approach. Everyday in everyone’s business, an initiative to create change through innovative solutions followed by faster execution has become the norms in a fast-paced and ever-changing business environment. At the midst, Cebuano entrepreneurs are being summoned to meet the demands of the market through consistent creativity and sustained ingenuity.
This continuity of change in the entire ecosystem of Cebu business has brought about an enormous growth with far-reaching impact not only in Cebu’s economy but also to the entire archipelago. But it cannot be sustainably possible without such well-entrenched values bestowed by the early shapers of Cebuano entrepreneurial spirit.
With the pioneering Cebu movers and shapers coming from big industries and group of companies such, among others, the conglomerates of Aboitiz, Lhullier, Gokongwei, Gotianun, Go, Liu and other big players, the list is getting longer with more homegrown players who have been consistent in accepting the legacy of entrepreneurial values bequeathed by early Cebu business influencers.
Coming from the list are the likes of ProFoods International, exporting dried mangoes to more than 50 countries; Bo’s Coffee brewing locally-sourced coffee beans in all its hundreds of outlets though out the country; Kenneth Coponpue, a world renowned furniture designer; Duro’s Land Properties, developing landmark infrastructures such as IEC Pavilion; Nature’s Spring, the number 1 bottled water company in terms of market share; and many other significant players which have contributed in accelerating and shaping country’s economy.
Although these companies have transformed themselves to become more innovative, agile and techno-driven so as to conform to and meet the emerging market demands, but the way they have formulated, executed and evaluated their strategies are still anchored on foundational values such as, among others, ingenuity, frugality and resourcefulness.
The Cebuano entrepreneurs of today are observed to be more process-driven, product-oriented and customer-centric for them to be more relevant to the market needs and highly competitive not only in domestic business arena but also in global market. However, these strategic imperatives of the present times cannot be sustained without being fueled by the said values which are deep-rooted in every Cebuano entrepreneur.
The Second Nature of a Cebuano Entrepreneur
The importance of regulatory compliance has already been ingrained in the minds of Cebu pioneering entrepreneurs and new movers. To comply is a second nature to them as inspired by other equally significant values such as integrity, honesty and responsibility. Although the new or aspiring entrepreneurs’ appetite for faithful compliance leaves much to be desired, the legacy could still be passed on to them by responsible and supportive pioneering Cebuano entrepreneurs through education drive and awareness initiatives.
The aspiring entrepreneurs need to assimilate that the backbone of great entrepreneurship is faithful compliance with regulatory requirements, first, during the start-up phase and, second, during the operational stage. It is because one of the yardsticks in measuring an entrepreneur’s scorecard is his ability to observe best business practices.
The anatomy of regulatory compliance requires each aspiring entrepreneur to complete the process of registration with either Security and Exchange Commission for corporations and partnerships or with Department of Trade and Industry for single proprietorship. Afterwards, business permits must be secured from the city or municipality where the aspiring entrepreneurs. It is followed by BIR registration of business with accompanying clearances and necessary permits to be secured from other agencies such as SSS, Pag-Ibig. Contracts and other necessary documents shall also be prepared for smooth operation of business.
On one hand, the Cebuano entrepreneurial spirit has also brought with it the realization that the deliberate failure or refusal to comply with regulatory requirements is a recipe for early business demise. On the other hand, if everyone is compliant by heart, the business atmosphere will give them the opportunity to freely compete and expand into the broader market.
It is also the character trait for a compliant Cebuano entrepreneur to show good governance in the area of financial discipline, labor relations, health, public safety, and environment. Faithful compliance will gain for them business goodwill, patronage, brand equity and sustainability.
What makes a great Cebuano entrepreneur is his ability to match his deep-rooted values with effective leadership and creative execution to propel growth and sustainability and open up ample opportunities to the greater number of Filipinos.
And to paint it all, the portrait of a Cebuano entrepreneur is shown by his generous heart — giving and serving humanity.
