Dear Partners and Colleagues,
As the year draws to a close, we would like to thank you for your partnership and unwavering commitment to our shared goal to uplift lives through social entrepreneurship.
Before the year ends, we would like to share some exciting news. Just this month, the House of Representatives’ Committee on Micro, Small, and Medium Enterprise Development approved a Substitute Bill on the Poverty Reduction Through Social Entrepreneurship (PRESENT) Act. The bill consolidates seven (7) house bills aiming to foster an enabling environment for social enterprises to thrive and lift more people out of poverty through providing programs, resources, and incentives for SEs.
FSSI and social enterprise advocates in the PRESENT Coalition have been working since 2012 for the passage of the PRESENT Bill to seek recognition and support for SEs as partners of the government in poverty reduction. This is a milestone for the sector, and we urge you to join us in the call to the Senate and the House of Representatives to finally pass this legislation.
At FSSI, meanwhile, we welcome a new social enterprise partner, the San Vicente Coconut Farmers Agriculture Cooperative. FSSI has most recently opened a window to provide seed capital to boost start-up SEs and support them in acquiring business resources necessary to attain their next milestone. The San Vicente cooperative is a start-up integrator of coconut products in San Vicente, Makilala, Cotabato. Through our partnership, we aim to support them in expanding their whole nut trading activities, supporting farmer-members in Makilala and other neighboring areas. We also welcome Tutz Porras, FSSI’s new project officer. Tutz brings with her an immense experience in microfinance to our project development and monitoring team.
Finally, we share with you in a social enterprise feature how FSSI’s support has helped two of our SE partners – Kilusang Lima para sa Lahat Multi-Purpose Cooperative and Mallig FST Multi-Purpose Cooperative – grow local communities.
We look forward to bigger things as we double down on our efforts to reach and support more 3BL enterprises in 2024. In the meantime, we wish everyone a meaningful Christmas and holiday season, from all of us at FSSI!