MANILA – The commitment to helping micro, small, and medium enterprises (MSMEs) is a culture every business unit embodies across the ecosystem of SM Investments Corp.
This dedication to supporting MSMEs is rooted in SM’s history, initiated by its founder, Henry Sy Sr. The SM conglomerate, which started as a small enterprise called ShoeMart in 1958, upholds this legacy to this day. It marks its 65th year in business highlighting its journey with local businesses by holding the SM Supermalls’ Tenant-Partners Summit.
“MSMEs are often regarded as the backbone of the economy,” said SM Supermalls president Steven Tan. “To us, our MSME partners are the heartbeat of our malls. We are honored to be their partners and we always strive to serve them better in our shared path to modernizing the retail landscape.”
One of SM’s many partners is Diannel Go, whose love for the art of weaving led to the creation of BinibiniCo, a modern take on traditional Filipino handicrafts.
Her brand became one of the partners of the SM StartUp Market, one of the MSME support programs of SM that offers to help online businesses set up shops at SM malls.
In SM’s StartUp Market, budding businesses are assisted in opening their very first physical stores at select SM mall branches. The package comes with start-up-friendly rates and the use of kiosks or carts free of charge.
“Actually, we only had a presence online back then. We were able to have the chance to showcase our products like the bayong in a mall setting because of SM,” Go said.
BinibiniCo, a passion that started with seven bayongs (Filipino bags made of woven leaves) that she sold to her neighbors, is now at SM City Santa Rosa, proudly representing Laguna with the motto, “Gawang Pinay para sa Pinoy. (Made by Filipina for Filipinos)
Diannel Go, founder of BinibiniCo, stands proudly beside her woven Filipino bayongs on display at SM City Santa Rosa.
Support programs
In addition to support programs, SM also helps in backing community-based businesses through partnerships with Kultura, an affiliate of the SM Group through its retailing arm, SM Retail Inc.
Ma. Evelina ‘Beng’ Atienza, co-founder of the Kababaihan ng Maynila Foundation Inc., shared how SM has helped their group of women entrepreneurs realize their talents in creating their products that are close to every Filipinos’ heart—the Christmas parol (lantern) – which are being sold at different branches of Kultura.
These parols are sustainable since they are foldable and washable, and, therefore, can be reused every Christmas season.
“SM has really helped our women greatly,” she said. “Some of them don’t even realize they have talents. And SM has been such a cooperative and generous partner to our women.
“The partnership is a huge help to their families,” she added. “As we grow with them, more of our members become generous and ask how they can support others.”
At present, 68 percent of SM Supermalls’ tenants belong to the MSME sector. SM serves as a marketplace for more than 90,000 MSMEs nationwide.
Earlier this year, SM Investments vice chair Teresita Sy-Coson reiterated SM’s commitment to continue initiatives in support of MSMEs.
“Starting as a small enterprise ourselves, we recognize MSMEs as a driving force for innovation,” she said. They are the ones who bring new ideas, new concepts, and new offerings to the consumers. That’s why we remain committed to supporting the growth and empowerment of MSMEs.”