The country’s telecom companies are helping businesses to rebuild and get back on track through digital acceleration to overcome the economic challenges of the pandemic.
PLDT first vice president, and Enterprise Revenue Group head Mitch Locsin echoed the sentiments of a lot of businesses today, particularly the MSMEs, as industries continue to feel the economic losses and long-term impact of the COVID-19 pandemic. The MSME segment represent over 99 percent of total businesses in the country, accounting for over a third of the country’s total employment rate.
“The losses of MSMEs have a significant effect on our national economy. This is why it is important for us in PLDT Enterprise to see how we can help in building that road to recovery,” Locsin said.
Yet despite the economic slowdown, Locsin presented signs of optimism among entrepreneurs to open up and operate.
The Bangko Sentral ng Pilipinas recently shared that business sentiments are improving this year despite the Enhanced Community Quarantine. The confidence index in the BSP’s Business Expectation Survey for the first quarter of 2021 rose to 17.4 percent from 10.6 percent by 2020’s year-end.
Beyond Fiber
Locsin noted how the optimism comes from reopening of businesses despite restrictions, the COVID-19 vaccine rollout, and the development of new business and marketing strategies that could make their businesses resilient.
“This shows us the unbreakable spirit of our MSMEs. Filipino entrepreneurs are finding ways to survive and come out stronger even as we come from the worst post-war GDP slump,” he added.
A recent study by the Department of Trade and Industry conducted in February 2021 where 15,400 MSMEs participated showed that 56.4 percent are fully operating; 39.3 percent partially operating; and 4.3 percent have stopped their operations completely. In addition, 69 percent have not adopted any forms of E-Commerce.
To help augment their foray into the digital stream, PLDT Enterprise introduced Beyond Fiber in the market as a primary offering to MSMEs during the initial periods of the quarantine restrictions last year. The suite of tailor-fit, bundled services help ensure connectivity for businesses despite remote working set ups and provide digital tools to keep their data secure and running and support their venture in the E-Commerce space.
“For businesses to thrive during”•and even moreso after lockdown restrictions, they need to expand their channels from in-store to online”•from online stores, websites, social media, or chat. They need to go cashless—and even cardless, through digital payment gateways which provide fast, convenient, real-time, and secured transactions. They need to be connected with strong, reliable, readily available, and secured connections – whether fixed, wireless or a combination of both,” Locsin said.
“We assure MSMEs of our unbreakable commitment to them”•because we know that this sector is key for the inclusive economic recovery of our country. We will continue to provide digital solutions that will support MSMEs as they navigate this new business landscape,” Locsin added.
Digital enabler
Ernest Cu, Globe Telecom Inc. president and chief executive, meanwhile, said the company remains focused on its role as an enabler of digital transformation for all Filipinos, including businesses, by providing them with technology and agile and affordable solutions.
“As businesses begin their journey to economic recovery, we will continue to extend our hand to entrepreneurs to give them meaningful and life-enabling innovations and access to opportunities and growth,” Cu said.
Globe Business offers an array of digital business solutions to equip MSMEs in their digital journey including products, platforms, learning programs, and technology assistance.
BPI SME Loans, meanwhile, has developed Biz Tech, a loan program specifically for Globe Business MSMEs who need a financial boost for their business, while Ayala Enterprise Circle extends exclusive perks and benefits from other Ayala companies to help Globe Business customers save on expenses.
“The commitment and the resilience we have witnessed among MSMEs as they navigate the challenges brought on by the pandemic inspires us to continue developing innovative ways to support our local entrepreneurs and carve pathways for them to succeed as the backbone of our economy,” Fernando Zobel de Ayala, president and chief executive of Ayala Corp., said.
Globe Business is also launching a search for MSMEs that have tapped into the power of digital technology to pivot their operations and survive the pandemic. Five businesses will be chosen by the telco giant from among the stories shared to an SME showcase worth P50,000 to help boost their business and expedite their digital transformation.
Lastly, new and current Globe Business customers will also benefit from Globe Business Upstart “•a loyalty program designed to empower micro, small and medium business owners through three core pillars: digital leadership, business enablement, and exclusive partnerships. Members will have access to this starting July 5 when they register to the program.
