Business Den offers silver lining
Monday, September 12, 2022 | 330 Views |
Cross Kgosidintsi
The country's main agency for commercial and industrial development is calling on young innovators to submit business plans for its youth entrepreneurship programme, the Business Den.
The Business Den is BDC's project that aims to reach out to enterprising youths to give them an opportunity to pitch their business ideas in front of a panel of seasoned and established savvy professionals and entrepreneurs to secure a P500,000 grant and mentorship.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...