ILOILO — The Iloilo Provincial Government, through the Office of the Local Economic Development and Investment Promotion Officer (OLEDIPO), equipped micro-entrepreneurs from three municipalities with essential financial skills on July 22‑23, 2026. The “Basic Accounting for Non-Accountants” training was held at the New Public Market here.
Numbers Made Simple for Small Business Success
The two-day workshop demystified accounting for small business owners who lack formal financial training. Participants learned practical money management, from separating personal and business finances to understanding the core accounting equation. Resource person Florenda C. Espedido guided attendees through jargon‑free sessions tailored for non‑accountants.
The training is part of the province’s broader EMBRACE Program, which provides interest‑free loans of up to ₱100,000 to micro‑enterprises. By pairing capital with financial literacy, the government aims to prevent business failures caused by poor record‑keeping. Participants came from Oton, Tigbauan, and Leon, representing a cross‑section of the first district’s MSMEs.
Building Blocks of Business Health
The curriculum covered four key areas: financial literacy, basic accounting concepts, bookkeeping, and financial statement preparation. Attendees practiced recording daily transactions, tracking income and expenses, and drafting simple balance sheets and income statements. These skills help entrepreneurs monitor profitability, manage cash flow, and prepare for tax compliance.
Ms. Espedido used real‑life scenarios to make the lessons immediately applicable. A sari‑sari store owner learned to calculate actual profit margins, while a food vendor discovered how to account for inventory shrinkage. The hands‑on approach built confidence and empowered participants to take control of their business finances.
Strengthening Local Economies Through Education
OLEDIPO, which spearheaded the training, serves as the province’s hub for investment promotion and economic development. The office regularly conducts capacity‑building programs aligned with Governor Arthur Defensor Jr.’s “MoRProGRes Iloilo” agenda. The agenda emphasizes equitable growth, resilience, and a strong middle class fueled by sustainable micro‑enterprises.
Local government officials noted that financial mismanagement is a leading cause of micro‑business closure. By investing in education, the province reduces loan defaults and helps entrepreneurs build lasting enterprises. The New Public Market venue placed the training directly within reach of its target audience—vendors and small shop owners.
