Tags: Entrepreneurship, Internet
By Alexander Villafania
QUEZON CITY, METRO MANILA – Small to medium scale enterprises or SMEs comprise more than 90 percent of all registered businesses in the Philippines. These also employ 70 percent of the total labor force and contribute about 30 percent of the country’s gross domestic product.
Therefore, the numbers alone prove that SMEs play a crucial part in the country’s economy.
In an effort to further strengthen the Filipino SME community , the International Financial Corporation, IBM Philippines, and the Planters Development Bank SME Solutions introduced the SME Toolkit, an online resource facility that contains articles on business practices, how-to guides for startup entrepreneurs, and downloadable business forms.
The SME Toolkit has been recently enhanced to include downloadable simple applications, self-evaluation quizzes and links to other industries for potential partnerships.
SME.com.ph, the joint operation of the IFC and Planters Development Bank, had also promoted the SME Toolkit through a recent national road show aimed at getting SMEs in different cities to use online tools to help improve their business processes.
The SME Toolkit is actually a global initiative by the IFC and IBM and is intended to strengthen the SME communities in different countries. Other country-beneficiaries include China, India, Malaysia, Mexico, Brazil, Nigeria, Peru, South Africa, among others.
Demand for online SME assistance is also on the rise in the Philippines, especially as SME owners, who are both young and knowledgeable with the Internet, are starting to look for high –tech methods to improve their business operations.
The Department of Trade and Industry (DTI) has enhanced their website to make it easier for entrepreneurs to start their businesses, especially with their registration, financing, marketing, and design and development.
Private organizations also offer online tools and consultations for SMEs. The Philippine Center for Entrepreneurship, led by Joey Concepcion has its GoNegosyo campaign. The website contains a number of how-tos and tips for those wanting to get into business. They also update their registered members with schedules of business conferences and training seminars.
Blogs also play a role in teaching entrepreneurs with tips on specific business programs. EntrePinoys Atbp is one such company that features how-tos on a variety of industries from agriculture to IT.
With the majority of businesses in the Philippines being owned by young, tech-savvy entrepreneurs, there is a lot of potential for the huge community of SMEs to become industry giants as long as they have access to the latest tools and trends.
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