Country for PR: China
Contributor: PR Newswire Asia (China)
Friday, December 23 2022 - 12:09
Fueled by growth and expansion, SM supports MSME communities
PASAY CITY, Philippines, Dec. 23, 2022 /PRNewswire-AsiaNet/ --

SM is looking forward to working with communities especially during tough times 
to sustain and support growth and recovery.

As SM pursues expansion and growth, it contributes to increasing economic 
activity and growing business resilience that support hundreds of thousands of 
micro, small and medium enterprises (MSMEs). These MSMEs make up 99.5% total 
business enterprises in the Philippines and generate over 5.3 million jobs or 
62.7% of the country's total employment.

"As we expand, we are mindful about how this brings meaningful support to 
communities," SM Investments Corporation President and Chief Executive Officer 
Frederic C. DyBuncio said.

SM acts as a marketplace to over 90,000 MSMEs partners, playing the big brother 
role and helping them navigate mainstream retailing. SM's retail stores serve 
as platforms to offer their products, master their entrepreneurial skills and 
grow their businesses. SM also provides holistic support through marketing 
advice, financial access as well as promotion and advertising.

During the pandemic, SM waived rental fees to support the business continuity 
of MSME partners. SM Supermalls' Start-Up Market program in high-traffic malls 
also helps budding online entrepreneurs to put up kiosks in SM malls without 
the burden of costly rental fees and construction costs.

Through the Farmers' Produce Markets, a joint project of SM Supermalls, the 
Department of Agriculture and Resto PH, an association of restaurants in the 
Philippines, SM helped bring local farmers closer to SM customers and allowed 
restaurateurs to access fresh vegetables especially during the pandemic 
disruptions to the supply chain that left farmers and local food establishments 
with very limited options where to sell their products.

Through BDO Network Bank, SM provided MSMEs and the beneficiaries of Overseas 
Filipinos with businesses key access to funds. The MSME Kabuhayan Loan is 
designed to assist small business owners in need of extra funding to increase 
their inventory of stocks, purchase business equipment and assets, or pursue 
expansion plans.

With the pandemic displacing the livelihood of many Filipinos, a number of them 
have become social entrepreneurs selling products online. 2GO Express, which is 
part of SM's logistics business, provided them crucial support through 
solutions that connected sellers and buyers through pickup and delivery 
services across the Philippines. The company also partnered with FedEx Express, 
allowing Filipinos to ship their products to various international locations.

Through Airspeed, its other logistics company, SM provided affordable and 
dependable pick-up and delivery serviceā€”a vital support component for the MSME 
sector. PinaSpeed offered online pick-up and delivery service to 
micro-businesses in NCR, Rizal, and Cavite and soon in other areas at very 
reasonable rates.  

Despite economic and geopolitical headwinds, SM is keen on pursuing growth and 
expansion in 2023 to provide vital support to the economy that will reach more 

SM has been increasing its focus on provincial areas where local economies are 
growing faster Over 80 percent of SM's new retail stores are in provincial 
areas where a good chunk of growing overseas remittances flow into. 

"We will continue to invest in growth as we are still seeing more communities 
that need access to various goods and services," Mr. DyBuncio said.

Source SM Investments Corporation