What do micro, small and medium-sized enterprise (MSME) lifelines and the trajectory that the Department of Finance (DOF) wants to take have in common? The guests of the third and final leg of Inquirer Project Rebound’s MSMEs webinar series unanimously agree that both are anchored in financial technology (fintech). For MSMEs, the steady increase of…
“Boy, was that a wake up call.” Teddy Monroy, country representative for United Nations Industrial Development Organization, said this during the Inquirer Project Rebound’s webinar on ensuring the resiliency and sustainability of micro, small and medium enterprises (MSMEs) with their recovery. This was in reference to the COVID-19 crisis, which truly exposed how MSMEs, despite…
A versatile light commercial vehicle for different businesses As I leave our house to go to work, I’m greeted by the sari-sari store out front owned by our neighbor. At the corner of our street, I pass by the water refilling station that’s patronized by homeowners in and outside of our village. A few more…
Thousands of small businesses got a crucial boost amid a pandemic-induced economic slowdown through UnionBank of the Philippines Inc.’s (UnionBank) issuance of a social bond worth $150 million or P7.55 billion. The bank financed the loans of 3,751 micro, small and medium enterprises (MSMEs) with the proceeds of the bond, UnionBank revealed in the that…
SM Investments Corporation’s strong retail-led growth mirrors growing consumer spending despite lingering inflation risks. This growth in spending activity is sparking optimism in the overall economic outlook. Asian Development Bank, in a recent report, raised economic expectations, underpinned by rebounds in investment and household consumption. “Despite rising inflation, we are encouraged to see shoppers’ robust…
Financial inclusion in the Philippines continues to remain low even before the disruption caused by the novel coronavirus (COVID-19) pandemic. Financial inclusion, after all, involves more than just having a bank account. For the Philippines, inclusion means everyone has effective access to a wide range of financial products and services. Aside from savings, inclusion covers…
Now that COVID-19 is nearly behind us, it is time to talk about recovery. How do we enable micro, small and medium enterprises (MSMEs) to recover? At the height of discussions and subsequent legislative work on stimulus plans, a lot of tribute was paid to MSMEs as the engine of employment, but the legislative and…
The country’s leading health maintenance organization (HMO) is ushering in a new era for healthcare delivery in the Philippines. While it has long been making quality healthcare accessible to more Filipinos across the country, MediCard Philippines Inc. has also been, over the last several years, spearheading a new cycle of transformation in its delivery, particularly…
If there’s one good thing that has come out of this pandemic, it’s that it allowed people to get in touch with their inner chefs. It even gave rise to many entrepreneurs who got into the food business, offering their gastronomic goods on social media. It’s not an easy thing. With lots of sumptuous options…
The opening of “low-cost, no-frills” bank accounts in the Philippines has risen substantially with the help of the central bank’s aggressive campaign to draw more Filipinos into the formal financial system, according to the agency. In a statement, the Bangko Sentral ng Pilipinas’ said that the number of basic deposit accounts in the first quarter…