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Home Filipino Achievers Naga Jewelry biz cited in Netherlands

Naga Jewelry biz cited in Netherlands

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A costume jewelry business based in Naga City was recently recognized in an international business plan competition hosted in the Netherlands.

Baycrafts jewelry, a microenterprise started and run by Marianne Olano, was awarded the Women in Business Retail Prize during the International Business in Development Challenge.

The BiD challenge is an online business plan competition among enterprising ideas that combine profit with the improvement of living standards in a country.   A local leg of the competition is also run, hosted by the Philippine Business for Social Progress (PBSP).

Olano went to The Hague, Netherlands together with this year’s BiD Challenge Philippines 2009 winners to compete with finalists from other countries.

These were BiD Challenge Philippines Grand Prize winner, Jacinto & Lirio, a brand of hyacinth leatherette bags started by a group of Ateneo de Manila seniors; Ecobloks, educational toys made of recycled wood by Lou Molina (Women in Business Challenge Finalist); and Kawayan Tech Bamboo Bikes by Ronald H. A. Villanueva.

In 2008, Olano sent the Baycrafts business plan as an entry in the BiD Challenge Philippines. The entry did not win an award then, but opportunities, like this competition in Europe, have come up.

In March this year, PBSP invited her to compete for the prize. “I was asked to make a business plan and upload it three days after. So i worked on it for one back-breaking day.”

“Last year, I was wishing for P500,000 in June 2010. I didn’t know where to get it then. I was thinking of taking it from my cash flow, but business was really slow after (Typhoon) Ondoy. Still I kept on wishing. Then this opportunity came.”

Olano also designs the Baycrafts accessories made of indigenous and synthetic materials like pearls, fiber, seeds, glass and crystals.

With the grant, Olano plans to use the direct selling strategy, like Avon for jewelry, while still selling through traditional and online channels. She also plans to strengthen the brand and increase marketing efforts.

Through PBSP, Olano has also expanded its brand’s reach by engaging resellers and distributors.

In August 2008, Olano won P100,000 in Senator Manuel Villar’s Pondo sa Sipag at Puhunan sa Tiyaga search. She won this for Baycrafts after she was “made more confident by (my) experience.”

 

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