PR99321

PASAY CITY, Philippines, Dec. 23, 2022 /PRNewswire=KYODO JBN/ --

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 service—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

communities.

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