The country’s small and medium enterprises (SMEs) have learned to take intelligent risks to spur faster recovery amid the ongoing COVID-19 pandemic.
During the recently conducted Biztalk Online webinar, titled Angat SME: Championing Support for Filipino Entrepreneurs, three young entrepreneurs shared their inspiring stories on how they were able to manage the impact of the pandemic on their businesses.
The webinar was organized by the business banking segment of the Bank of the Philippine Islands (BPI).
A common denominator among these SMEs was how they took a few risks to help them pivot and sustain their operations.
“You cannot stop at the middle of this challenge. Invest in technology and train your employees because you cannot do it alone. Don’t let the pandemic stop you from constantly communicating with your team. If you really want to move forward and grow, you need more partners. One of it is having a banking partner for your business,” said Cindy Dela Cruz, executive vice president and chief operating officer of Filbake Food Corporation.
As co-owner of the biggest bakery-commissary in Northern Panay and the store, Bread and Breakfast Bakeshop, Dela Cruz admitted that the varying levels of community quarantine and lockdowns imposed in Aklan slowed down the movement of their people and products, which affected their supply chain and left the commissary to function in limited capacity.
From having a centralized operation, Filbake took a bold move to decentralize its functions.
Filbake also entered into an agreement with the Department of Science and Technology (DOST) and Department of Health (DOH) to provide nutritious bread or Nutribun to all public schools in the region to help fight malnutrition. “It does not only help our cash flow but also made sure that we stayed relevant to our customers.”
For his part, Angelo Caballero of Cavalier Agrivet Supply knew that his business would suffer following the government’s ban on game fowl operations to mitigate the spread of the virus.
His sales were on a steady decline after sub-dealers and farm-and-backyard raisers failed to pay him. But despite these hurdles, Caballero made the necessary adjustments to his business, with the help of a business loan that enabled him to expand their portfolio.
“We diversified and looked for other relevant products related to agrivet that we can sell. During the onset of the pandemic, we also tapped LGUs and barangays to supply rice for the food packages that they will distribute,” said Caballero.
Cavalier Agrivet Supply also added fertilizers and pesticides to its product list. This is as home gardening became a popular hobby during the pandemic, especially with the rise of “plantitos” and “plantitas”.
