SM Supermalls continues its commitment to empower and enrich the
growth of local Micro, Small, and Medium Enterprises (MSMEs) by building a
thriving ecosystem of entrepreneurship and innovation.
“MSMEs are our local partners in
generating value across all the communities we operate in,” said Steven
Tan, President of SM Supermalls. “With
99.59% of the local economy composed of MSMEs, the persistence and vibrancy of
local trade as well as the generation of jobs on the micro, small, and medium
scale hinges on their success.”
In line with this, SM Supermalls continues to implement various
programs and plan opportunities for MSMEs to grow their customer base through
the vast network of SM malls in the country. With 67% of its tenants being
MSMEs, these programs empower entrepreneurs by providing them with accessible
and affordable prime retail spaces in SM’s high-foot traffic malls, as well as
helpful packages to support their growth.
Marketplace for Success
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| Various local products sold by SM for MSMEs’ purveyors |
“Because SM has been an
established brand for over three decades, perhaps people have forgotten that we
started out as a small enterprise ourselves,” said Tan. “Our own experience emphasizes the value in
supporting our MSMEs and has given us valuable insight we can use to further
support this crucial sector in line with the government’s efforts.”
Last May, the Department of Trade and Industry (DTI) introduced the
fourth iteration of the national MSME Development Plan geared to reduce
operational costs and eliminate barriers for new entrepreneurs. Through the
plan’s implementation, the DTI hopes to grow the number of registered MSMEs,
improve their contribution to the larger local economy, and support continual
job creation.
The “SM for MSMEs” program supports budding entrepreneurs in
overcoming three key challenges they usually face–access to a diverse group of
customers, the high cost of traditional operational requirements like rent, and
competition with established brands for attention and patronage. Serving as a
marketplace for entrepreneurs facing difficulties finding the right venue and
market, SM aims to be the incubator of the country’s next big brands.
SM for MSMEs offer scalable packages to businesses in the communities
around SM malls–for as low as 500 pesos per day, small scale businesses can
rent a booth in SM’s high-foot traffic venues during regular exhibits and
special events. The program currently has 633 purveyors nationwide, providing
an affordable and strategic platform for entrepreneurs to sell their products
and reach the right market.
Other Programs of SM for MSMEs
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| StartUp Market Purveyors, Arctic Balm and South Sea Gems, at SM City North Edsa |
SM initiated its “StartUp Package” in 2021 to assist MSMEs in opening
their first brick-and-mortar stores. The package provides start-up-friendly
rental rates within SM malls along with the free usage of kiosks and carts.
Marketing assistance is also provided through free exposure in SM online assets
and ad spaces within the malls with valuable mentorship from its experts on
operations and marketing. SM also offers financial assistance with BDO network
bank. This program is currently running across five malls with 30 purveyors as
of writing. Earlier this year, 44 StartUp Market purveyors successfully
transitioned to SM tenants.
Supporting Farmers in our Rural
Communities
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| The SM Sunday Market currently runs in 23 SM malls |
On top of these, SM helps support rural communities through
opportunities for fair trade that also preserve its cultural heritage. The SM
Sunday Market bazaar has been running since last year across 23 active and
participating SM malls. Among its 135 purveyors are graduates of SM
Foundation’s Kabalikat sa Kabuhayan program farmers who are local food and
produce suppliers.
“Throughout
SM’s decades of growth, we are familiar with the work and effort it takes to
build a business from the ground up. Thus, with these programs SM aims to be a
catalyst for the success of local MSMEs through support and tailored offers
that further foster economic vitality and social wellbeing across all
communities we operate in,”
said Tan. “Because of the success we’ve
been met with, not just on our own operations but with the programs and efforts
we have initiated, we continue to pay it forward by supporting this crucial,
underserved sector in the local economy.” (SM Supermalls)