Businessmirror september 03, 2017

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Sunday, September 3, 2017 Vol. 12 No. 325

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By Jun Lomibao | Sports Editor

HEN Mary Joy Tabal, the prodigal daughter of Philippine athletics, won the country’s first gold medal in women’s marathon at the 29thSoutheast Asian Games in Kuala Lumpur on August 19—the day the Games were to formally open— much hope was pinned on the 497-athlete delegation to hoist the country from the doldrums of the 11-nation biennial regional competition.

MARY JOY TABAL and Kaitlin de Guzman wind up with gold medals around their necks, but not taekwondo jin Kirstie Elaine Alora and cyclist Marella Salamat, who is being consoled by her coach Cesar Lobramonte.

Continued on A2

Survey shows confidence high among global, local SMEs

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By Roderick L. Abad | Contributor

USINESS confidence is high among small and medium enterprises (SMEs) here and abroad, especially those engaged in global trade, according to a study conducted in partnership between the World Bank, Organisation for Economic Co-operation and Development and Facebook. PESO exchange rates n US 51.1660

Based on the latest International Trade report from the Future of Business survey over the March-to-May 2017 period, SMEs that trade globally (19 percent) are five percentage points more positive in their businesses. Likewise, they are more likely to have added jobs in the last six months than the latter. This holds true as small-scale enterprises, not only big multinationals, now have a menu of digital tools that enable them to create global connections and market

directly to potential customers around the world. Of the 49,081 SMEs surveyed worldwide, those who export (5 percent) said trade is at the center of their business models and success. In fact, 4 in 10 cited that over 25 percent of their revenue comes from international trade. The report revealed that exporters depend on online tools to trade globally and, consequently, grow. Nearly half, or 45 percent, of exporting SMEs reported that more than 75 percent of their international

sales rely on web-based tools. Respondents of the survey noted that going digital when dealing with clients overseas contributes to their business growth, whether in terms of revenue, resources and employees. Fifty-eight percent of exporters agreed that using online tools for selling internationally has increased their revenue and 28 percent said it allowed them to increase their employees. Meanwhile, 38 percent of SMEs have increased their investment

in equipment/durable goods. Global trade, however, is perceived as a problem for SMEs, and only a minority of them trade with the rest of the world. Despite this, 42 percent of SMEs still have managed to expand their businesses (e.g., opened another store) as a result of using online tools to sell in the international market.

Optimism

JUST like in the past results of the survey, the study bared that

n japan 0.4642 n UK 66.1423 n HK 6.5388 n CHINA 7.7564 n singapore 37.6691 n australia 40.4416 n EU 60.8108 n SAUDI arabia 13.6443

See “SMEs,” A2

Source: BSP (31 August 2017 )


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