The Ayala Group has launched Ayala Enterprise Circle, a support program aimed at helping small and medium enterprises continue their operations and recover from the new coronavirus (COVID-19) pandemic.
The Ayala Group said in a statement the synergistic initiative is focused on helping its 250,000 SME partners whose operations were affected by the pandemic.
“Today’s times are certainly unprecedented and very challenging for enterprises of all sizes, much especially for our SMEs who have always been critical players in our country’s economy… We realized that now, more than ever, we need to accelerate our efforts to proactively reach out to you,” said Ayala chairman and chief executive Jaime Augusto Zobel de Ayala during his welcome address at AEC’s first ever webinar attended by over 900 Ayala SME clients, suppliers and partners.
“We envision the Ayala Enterprise Circle as a network where you, our valued SME partners, can have access to exclusive Ayala Group solutions and offerings, expert mentorship from industry leaders, online dialogues and masterclasses, and business-matching and co-marketing opportunities. We are very excited for what this program has to offer, and we hope that you would continue to join us in this journey as members of this exclusive network,” he added.
As of May 19, 2020, the Ayala Group has helped ease the strain on its SME partners through P766 million worth of free services and business operations fees, including rental condonations.
Ayala Malls has waived P280 million covering over 2,400 of Ayala Malls’ SMEs in the last two months.
The conglomerate’s banking unit Bank of the Philippine Islands has encouraged SME clients to take advantage of its Loan Reprieve Program (a loan payment deferment program) for up to 90 days to help them manage their cash flows affected by the Enhanced Community Quarantine.
BPI also waived interbank transfer fees to lighten client costs when transferring funds to other local banks for the duration of the ECQ.
The bank provided a similar grace period to qualified loan clients for credit card, auto, personal, and home loans.
BPI is now working with PhilGuarantee to refine its loan products for qualified clients.
Ayala is also helping SMEs cope with the disruptions brought about by the ECQ through various business continuity solutions.
Telecommunications unit Globe Telecom Inc. is helping SMEs thrive through several connectivity offerings to keep their businesses running from home, or support their online operations.
Ayala Malls and Zalora are exploring new retail and e-commerce models to give SME tenants an alternative digital channel, with the former serving as community pick-up points for digital purchases.
SMEs and micro-businesses cover about 60 percent of the total annual revenues of all Philippine businesses, contribute 35 percent to the country’s gross domestic product and employ 63 percent of working Filipinos.
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