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The recent launch of SM Supermalls’ SM Start-Up Package has ignited new hope and inspiration for MSMEs in the country, most especially those affected by the pandemic and prolonged lockdowns.
Considered the backbone of the economy, MSMEs account for 99.5% of all enterprises and employ 63.2% of the labor force as of the end of 2018 per a 2020 Asian Development Bank (ADB) report. In SM alone, almost 70% of their partners are MSMEs, many of which were start-ups that found success in SM malls.
“We have a 60-year legacy with MSMEs. Our founder Mr. Henry Sy, or ‘Tatang’ as we fondly call him, started as one,” SM Supermalls President Steven Tan said. “In 1958, he opened his first shop, ShoeMart. From one store in Quiapo, SM now has 77 malls all across the Philippines—and we are still growing.”
Tan recounted that aside from perseverance, Mr. Sy had help from family and friends when he built and expanded his business. “Tatang did not forget the people who helped him become successful. He paid it forward and gave the same help to other start-up businesses, often personally inviting them to locate in SM. Their eventual success was his success,” he said.
This pay-it-forward practice and mindset live on through the SM Startup Package. The past year and a half proved especially challenging for MSMEs as many were forced to temporarily close and cut off staff during the height of the COVID-19 outbreak. Many from the workforce became resilient entrepreneurs who started their own online businesses to provide for their families.
With the SM Startup Package, MSME owners who have ongoing online businesses can register and will be given the support they need to set up their first physical store in one of 13 high-traffic SM malls nationwide. This includes perks like startup-friendly rental rates, free use of kiosks, access to financial assistance through BDO Net Bank, marketing assistance to give the brand free exposure in SM online assets and ad spaces inside the malls, as well as giving them a prime location within the mall.
The SM Startup Package also highlights the crucial role that MSMEs play in helping the country back to economic recovery. Last year, the Department of Trade and Industry (DTI) recorded more than 920,000 new business name registrations where 532,000 accounted for retail sellers in sari-sari stores. This is followed by over 88,000 e-commerce sellers who opted for online platforms to reach out to customers amid lockdown restrictions.
DTI Asec. of Digital Philippines and E-Commerce Lead Jean Pacheco emphasized at the SM StartUp Press Briefing that while online selling can be effective, having on-ground channels are still an ideal way to fast-track an MSME’s growth. “We know that Filipinos like to browse and see items firsthand, and talk to sellers face-to-face when buying, so it’s important to have brick-and-mortar stores. An MSME should aim to be omnichannel, a combination of your physical store and your online platform, so you can reach more consumers.”
“I know that many are looking forward to setting up a physical store, but in need of help — the same help Tatang gave to entrepreneurs in his time. As our way of giving back, we would like to continue Mr. Henry Sy’s legacy of extending a hand to start-ups and making it easy to set up shop at our high-traffic malls. All you need is a great concept and the willingness to work hard to succeed.” Tan said.
Categories open for tenancy are Health and Wellness, Home Hobbies and At-Home Experiences, Smart Gadgets for Productivity, Functional Fashion, and Comfort Food.
To find out how to be part of the SM StartUp Markets nationwide, visit www.smsupermalls.com and follow the link to the Startup Package webpage, or email [email protected] and follow @smsupermalls on all social media accounts to find out how to sign up now for the SM Startup Package.
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Revisit the opening day of running in Barcelona with former F1 driver and F1 TV host Jolyon Palmer as he delivers his first impressions of the all-new 2022 cars!
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A friend sent me pictures of a little girl who dresses like me, so naturally I had to learn more!
The story from her mom, Brianna “Scary Grandma” Pacheco:
Her real name is Valleri Pumpkin. She is 2 years old and just loves all things Pee-wee. Last year for Halloween she told me she wanted to be Pee-wee, so I ordered a suit and she proceeded to wear it every day for 4 straight months! She dubbed herself “Pee-wee Pumpkin” and told anyone who asked that was her name (Including Santa Claus!)
The outfit with the red skirt, she calls “Princess Pee-wee” she’s doing the Pee-wee dance in the pics.
I also lobbied to be Miss Yvonne for Halloween and she insisted I be “Scary Grandma” (Large Marge) instead 😂
This kid never falls down without taking the opportunity to say “I meant to do that!”
This is the greatest! I have the best fans!! Thank you for sharing, “Scary Grandma”! You made my day!
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A high level of vegetable consumption was not independently associated with reduced risk for CVD, according to results from a cohort study of nearly 400,000 participants.
“Our large study did not find evidence for a protective effect of vegetable intake on the occurrence of CVD,” Qi Feng,PhD, researcher in the Nuffield department of population health at the University of Oxford, U.K., said in a press release. “Instead, our analyses show that the seemingly protective effect of vegetable intake against CVD risk is very likely to be accounted for by bias from residual confounding factors, related to differences in socioeconomic situation and lifestyle.”
Feng and colleagues analyzed 399,586 participants (mean age, 56 years; 55% women) from the UK Biobank cohort who did not have CVD at baseline.
Among the cohort, the mean intake of raw vegetables was 2.3 tablespoons per day and the mean intake of cooked vegetables was 2.8 tablespoons per day. Participants were followed for a median of 12.1 years, during which there were 18,052 CVD events and 4,406 CVD deaths.
Vegetables and CVD risk
Before adjustment for confounders, being in the highest quartile of total vegetable intake conferred reduced risk for incident CVD compared with being in the lowest quartile (HR = 0.9; 95% CI, 0.83-0.97), whereas for raw vegetable intake, the highest quartile was associated with reduced risk for CVD (HR = 0.89; 95% CI, 0.83-0.95) and MI (HR = 0.88; 95% CI, 0.81-0.96) compared with the lowest quartile, according to the researchers. There was no association between cooked vegetable intake and CVD risk (HR = 1; 95% CI, 0.91-1.09), and there was no association between total, raw or cooked vegetable intake and stroke risk.
Also, before adjustment for confounders, higher raw vegetable intake was associated with reduced risk for CVD mortality (HR = 0.85; 95% CI, 0.74-0.97), but higher cooked vegetable intake was not (HR = 0.96; 95% CI, 0.8-1.13), the researchers wrote.
Confounders attenuate association
However, the associations were substantially attenuated after adjustment for confounders; those confounders reduced the likelihood ratio chi-square statistic for association between raw vegetable intake and CVD incidence by 82% and between raw vegetable intake and CVD mortality by 87%, the researchers wrote.
“Adjustment for socioeconomic (including educational attainment and Townsend deprivation index) and lifestyle factors (including physical activity, smoking, drinking, use of mineral supplements, use of vitamin supplements, fruit intake, oily fish intake, non-oily fish intake, red meat intake and processed meat intake) results in most of the reductions in [likelihood ratio chi-square] statistic, while further adjustment for BMI and baseline health status resulted in only slight further reductions, suggesting that the observed associations are likely to be accounted for by residual confounding from socioeconomic status and lifestyle factors,” Feng and colleagues wrote.
Ben Lacey, MBChB, MSc, DPhil, FFPH, associate professor of epidemiology and public health at the University of Oxford and head of the UK Biobank Epidemiology Group, said in the release that the study has “implications for understanding the dietary causes of CVD and the burden of CVD normally attributed to low vegetable intake. However, eating a balanced diet and maintaining a healthy weight remains an important part of maintaining good health and reducing risk of major diseases, including some cancers. It is widely recommended that at least five portions of a variety of fruits and vegetables should be eaten every day.”
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