Manila, Philippines — 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

“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 c.ost 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.