Micro, small and medium enterprises (MSMEs) comprise 99.5 percent of business enterprises in the Philippines. The Department of Trade and Industry (DTI)’s 2020 MSME statistics show that the MSME sector accounted for more than 60 percent of jobs in the country. Further, the United Nations points to MSMEs as key to our country’s inclusive recovery…
Three years ago, no country, government or central bank could have predicted the negative impact of the COVID-19 pandemic on our way of life and livelihoods. Its impact was keenly felt by everyone, particularly the vulnerable sectors of society. Nonetheless, the COVID-19 pandemic has also become a catalyst in bridging the divide between the unbanked…
Over a year into the COVID-19 pandemic that sank Asia-Pacific (Apac) into a recession, many economies in the region have weathered what they hope is the worst of the storm. Although most economies are tipped to rebound to prepandemic levels this year —thanks to factors such as the rollout of vaccines, revival of global demand…
The ongoing public health crisis has made more Filipinos aware of the need for insurance, and among the companies benefiting from that heightened awareness is Pru Life UK, which was ranked by the Insurance Commission as the country’s leading life insurer in terms of New Business Annual Premium Equivalent (NBAPE), the only company to see…
Carmen’s Best is riding the digitization wave and going into cyberspace. The premium Filipino ice cream has harnessed digital technology to turn its website, www.carmensbest.com, into a full-fledged electronic store (e-store). Founder and chief executive officer Francisco Magsaysay said, like most businesses, the 10-year-old artisanal ice cream business faced major challenges when the COVID-19 pandemic…
The pandemic has significantly changed people’s lives, especially in terms of shopping. As more consumers choose to stay indoors, they also increasingly turn to online platforms for their needs—a trend that will continue even as retail establishments restart operations. For a booming industry that is fast-growing in markets such as the Philippines and other nations…
Beverage-maker Pepsi-Cola Products Philippines Inc. has expanded its bottling capacity, adopted digital platforms and accelerated sustainability initiatives amid a challenging environment caused by the prolonged pandemic. “ When most companies feared to move forward, PCPPI chose to make big moves and transform,” company president and CEO Frederick Ong said during PCCPI’s recent stockholders’ meeting. PCPPI,…
Accounting for the majority of the total businesses in the country and generating more than half of the country’s total employment before the COVID-19 pandemic hit in March of last year, the health of micro, small and medium enterprises (MSMEs) is as much a concern for the Philippines as the physical well-being of its population.…
The pandemic has undoubtedly accelerated digital transformations globally and across all sectors, prompting businesses and economies to make an abrupt pivot to ride this unprecedented wave of changes. Some businesses, however, are fortunately well-positioned to go digital even prior to the onset of the pandemic, enabling them to quickly adapt to the “new normal.” Union…
The COVID-19 pandemic still has the Philippines and other parts of Southeast Asia firmly in its grip. But even then, enterprises in the region have begun preparing themselves for postcrisis growth. According to SAP’s regional study “Digital, resilient, and experience-driven: How enterprises in Southeast Asia can prepare for the new economy”, Southeast Asian firms are…