MANILA, Philippines — What sparks a business idea? These two microentrepreneurs did not need to look far. Renalyn Brondial of Morong, Bataan drew inspiration from the abundance of cashew nuts in her hometown, while Medelina Cansancio of Hinigaran, Negros Occidental saw how the fishermen in her community could benefit once she started producing dried and smoked fish.
The Citi Microentrepreneurship Awards (CMA) which has recognized hundreds of entrepreneurs since 2002, named Brondial and Cansancio CMA Regional Awardees for Luzon and Visayas, respectively, for their efforts in growing their business while helping the community around them.
The CMA program is a signature initiative of the Citi Foundation, highlighting the efforts of partners like the Bangko Sentral ng Pilipinas (BSP), Citi Philippines and the Microfinance Council of the Philippines Inc. (MCPI) to strengthen microfinance and enterprise development, and financial inclusion in the country.
Renalyn Brondial: If you work hard, you will succeed
In the past, children in Brondial’s hometown were often seen playing with cashew nuts which they would pick from nearby trees. Using P1,000 as initial capital, Brondial bought the cashew nuts, roasted and then packaged them to sell outside her home.
It was only in 2012 when Brondial formally established the brand called Willy’s Cashew Nuts, named after her husband. She also put up a branch outside Royal Duty Free, where she continues to sell to this day.
Over time, she added adobo cashew nuts and sugar-coated nuts to her product line. She even innovated and used the same raw materials to make polvoron and cashew nut butter.
Later on, CARD SME Bank offered Brondial the opportunity to grow her business through a financing loan. In 2017, Brondial borrowed P100,000 to infuse more capital into her business, and increased her loan to P300,000 in the years that followed. Her mantra when it comes to borrowing money: “Don’t be afraid to take out a loan, as long as you will use it for your business.”
Not one to rest on her laurels, Brondial continues to widen her market reach in various ways: establishing social media presence with the help of her children, engaging distributors, introducing new product varieties and maintaining exposure through exhibits held by government agencies.
The key to her business success? Brondial says, “Put your heart in the business. If you work hard, you will succeed. That’s what I believe in.”
Medelina Cansancio: Save your earnings and spend wisely
Fishing is among the major industries in Cansancio’s hometown of Hinigaran, Negros Occidental. After learning how to make smoked fish or tinapa, Cansancio thought of starting her own business in 1994.
At first, it was simply for her family’s daily subsistence. She bought a drum container to be used as a smokehouse, and a tub of local fish called tabagak.
“I made smoked fish and sold it in the streets. Then, I would have money to buy food for my children,” shares Cansancio.
In time, her business grew. Not only was it a steady source of income, but it also provided the venue to help fishermen in her community, and gave employment to a good number of people who helped in cleaning and packaging the smoked fish.
One day, while she was away on business, the shed which Cansancio used as her production area accidentally burned down. Determined to rebuild her business, Cansancio approached Negros Women for Tomorrow Foundation Inc. for a P3,000 loan.
As the business gained ground again and through profits from her business, Cansancio was able to invest in delivery vehicles, her own pump boats and a motorcycle.
Today, she provides employment for 50 members of her community and regularly supplies smoked fish for export to Japan, Saudi Arabia, United States and New Zealand. To her family, her greatest gift is education and the chance to improve their lives without having to go through the hardships Cansancio herself experienced.
“To succeed, be brave and strong. Keep your feet on the ground and continue helping others. Don’t spend all your earnings, but instead grow them so you can set aside savings for yourself,” Cansancio says.
Outstanding microentrepreneurs in the spotlight
In the CMA’s 18th year, Brondial and Cansancio, together with Luz Bangos and Rosalyn Espenorio, were named CMA Regional Awardees for Luzon, Visayas and Mindanao, respectively. Each of them received P100,000 as prize money.
CMA also recognized COVID-19 Response Champions Florence Ao-wat, Josephine De Lara, Ivy Millare and Dominador Vergara; Youth Microentrepreneur of the Year Joymar Olarte; and CMA National Winner Luzviminda Sunit.
The winners were chosen by the National Selection Committee led by Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno and Citi Philippines Chief Executive Officer Aftab Ahmed. Other members include Tourism Secretary Bernadette Romulo-Puyat, Trade and Industry Secretary Ramon Lopez, Ayala Corporation President and CEO Fernando Zobel de Ayala, Go Negosyo Founder and RFM Corporation President and CEO Jose Ma. Concepcion III, Samahan ng mga Pilipina para sa Reporma at Kaunlaran (SPARK!) Philippines President Imelda Nicolas, JG Summit Holdings president Lance Gokongwei, ANC News Anchor and Writer Salve Duplito, GMA7 Network CEO and Chairman Felipe Gozon, Inquirer Group of Companies CEO Sandy Prieto-Romualdez, UP Diliman Chancellor Dr. Fidel Nemenzo, and SM Investments Corporation Vice Chairperson Teresita Sy-Coson.