To encourage the habit and culture of saving in the informal food sector, Central Bicol State University of Agriculture (CBSUA) in partnership with the Banko Sentral ng Pilipinas (BSP) and Local Government Unit (LGU) of Calabanga headed Financial Literacy Training Program themed “From Carts to Coins” for street food vendors in Calabanga on September 5, 2023.
The CBSUA and BSP Team served as resource speakers and workshop moderators that improved the financial management skills of the vendors on budgeting, tracking expenses, and maintaining proper financial records to make informed business decisions, promoted savings and investment practices by encouraging vendors to save a portion of their earnings and explore investment opportunities that can contribute to their long-term financial stability, raised awareness about financial products and services, introduced participants to basic banking services, microloans, and other financial resources available to support their businesses, and fostered entrepreneurship and business growth by providing participants with insights into business expansion, identifying new opportunities, and scaling their street food ventures.
Thirty street/market vendors selected by the Calabanga Market Administrator participated in the training program by undergoing a needs assessment survey that understand the current financial knowledge and challenges of street food vendors. The sponsors created a comprehensive and tailored curriculum based on the needs assessment results, organized a series of workshops for the participating vendors, and regularly assessed the progress of participants and the program’s effectiveness through surveys and feedback sessions. Dr. Hanilyn Hidalgo of the College of Economics and Management spearheaded the organizers of the said training.
