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Visa, Shopee team up to launch ‘Where You Shop Matters’

The initiative is part of Visa’s broader small business strategy and follows commitments the company has made to support 10 million small and micro businesses in the Asia Pacific, and a global commitment from the Visa Foundation of USD210 million to provide COVID-19 emergency relief for the small business sector.

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Photo by gonghuimin468 from Pixabay.com

Visa launched Where You Shop Matters to encourage consumers to support local businesses while helping SMEs to go digital following the onset of COVID-19. The initiative is part of Visa’s broader small business strategy and follows commitments the company has made to support 10 million small and micro businesses in the Asia Pacific, and a global commitment from the Visa Foundation of USD210 million to provide COVID-19 emergency relief for the small business sector.

As part of the Where You Shop Matters initiative, Visa has partnered with Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, to help support thousands of local small businesses who are selling on Shopee. Visa and Shopee will be creating campaigns to enable Visa cardholders to enjoy discounts when they shop at these local merchants.

“We introduced Where You Shop Matters to support our small businesses in the Philippines. The impact of COVID-19 for these businesses along with shifting consumer behaviors to eCommerce reinforced the need for Visa to launch Where You Shop Matters. Furthermore, the partnership with Shopee will help us support thousands of local businesses in the Philippines. We are confident that Filipinos will help support the local economy, especially since our study showed that 95 per cent of Filipino consumers will purchase from local retailers to support small business recovery,” said Visa Country Manager for the Philippines & Guam, Dan Wolbert.

“The pandemic has accelerated several years’ worth of change into the span of a few months, and this rapid acceleration of the shift to digital payments also means that businesses need to go through a digital transformation and adapt to changing consumers’ behaviors to do well.”

“We are happy to partner with Visa to launch the Where You Shop Matters campaign to help small business owners go digital. Shopee commits to offer our sellers and MSMEs a more secure, seamless, and rewarding way to do business online, and we will continue to explore new ways to help them succeed online” says Martin Yu, Associate Director at Shopee Philippines.

The Visa study also showed that 77 percent of Filipino consumers believe it is important for local retailers to have an online presence. To encourage SMEs to go digital, Visa will be providing them with a Visa eCommerce Starter Kit to help them start, manage, and grow their online storefronts. Visa is partnering with BigCommerce to provide onboarding support and special discount rates for SMEs to sign up and start selling online. SMEs can also benefit from a variety of offers, including Office 365 business packages and cashback on Google Ads to help them get their online business up and running. For SMEs with physical stores, they can order free Visa POS signage to build trust with consumers.

“The pandemic has accelerated several years’ worth of change into the span of a few months, and this rapid acceleration of the shift to digital payments also means that businesses need to go through a digital transformation and adapt to changing consumers’ behaviors to do well,” added Dan.

Said Jowee Alviar, co-Founder of Team Manila, one of the six marquee merchants in the Where You Shop Matters campaign, ” We’re happy to be featured among the local brands in Visa’s #WhereYouShopMatters campaign. It is vital for TeamManila to reach our customers wherever they are, be it through online shopping portals or our website. We can show them the new designs of our collection, answer their inquiries, and fulfil their orders easily and securely through card payments using Visa, at the convenience and comfort of their own homes.”

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UPS helps its Phl customers maintain critical infrastructure following typhoon

UPS’s recent expansion of its Worldwide Express Freight (WWEF) shipment service to more postal codes in the Philippines comes as welcome news to West Point Engineering, a long-time customer of UPS.

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Sitting in a tropical storm-prone belt of the Pacific Ocean known as ‘typhoon alley,’ the Philippines experiences an average of 20 tropical storms every year. 

Last year, on top of dealing with the pandemic, the Philippines was hit by Super Typhoon Goni, the most powerful tropical cyclone in the world in 2020. Goni, or Rolly as it’s locally known, ploughed through Luzon and affected 2.7 million people, displacing 31,000 and damaging or destroying 281,000 homes. Sanitation and hygiene become immediate concerns in the aftermath of a storm like this, with essential water infrastructure usually damaged.

West Point Engineering Supplies Incorporated provides specialized products and solutions to essential infrastructures in the Philippines, such as water, energy and meteorology. 

Among its list of projects is a 10-year program with the weather information services company, Earth Networks, and the Philippine Atmospheric, Geophysical and Astronomical Services Administration. They’ll collaborate to use weather monitoring sensors that provide earlier warnings for tropical storms. 

For West Point Engineering, speed and efficiency is essential in installing and maintaining specialized equipment like weather radars, which can save lives and homes. 

That’s why UPS’s recent expansion of its Worldwide Express Freight (WWEF) shipment service to more postal codes in the Philippines comes as welcome news to West Point Engineering, a long-time customer of UPS.

Businesses like West Point Engineering will benefit from time-guaranteed palletized shipments above 70 kilograms to more areas in Bulacan, Mabalacat, Angeles City, Laguna and Batangas, allowing businesses to more easily and quickly replenish bulk inventories. This helps customers meet urgent, sometimes life-saving, delivery requirements. 

“We have been a partner of UPS for over seven years,” said Dennis Ziganay, president and CEO of West Point Engineering. “Through this pandemic, we’ve been able to meet the demands of these challenging times … thanks to UPS.” 

With businesses needing a more agile and precise process in responding to the needs of the market and its customers, accessibility is key in responding to natural disasters around the globe.

“Exporters, SMEs and long-time partners like West Point Engineering are important contributors to the local economy. As they grow and expand, we listen to their changing supply chain requirements and cater to their needs,” said Chris Buono, managing director of UPS Philippines and Indonesia. 

 “Whether it’s one of the several natural calamities that occurred in the Philippines or an ongoing pandemic, UPS is committed to delivering what matters for our customers as they bounce back from a difficult year,” Buono ended. 

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Community banks a key resource for small businesses when crises arise

Community banks are an important source for small businesses when crises, like the COVID-19 pandemic, arise and business owners need to secure help quickly to continue paying their employees.

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Photo by lucas Favre from Unsplash.com

With billions on the table for struggling small businesses, new research from the University of Florida Warrington College of Business finds that community banks are a critical source for helping these businesses keep their workforce employed during the pandemic through loan access.

“Smaller community banks have traditionally been an important source of funding for small businesses,” said Christopher James, William H. Dial/SunTrust Eminent Scholar and research author. “Community banks tend to be relationship lend­ers, characterized by local ownership, local control and local decision making. Relationship lenders had strong incentives to make… loans in order to preserve small business relationships in the face of the massive economic downturn caused the pandemic.”

In their research, James, Warrington Ph.D. student Jing Lu and Georgetown University Ph.D. student Yangfan Sun, find that community banks were able to respond faster to loan requests from small businesses as compared to larger banks. They also find that community banks made more loans per dollar of deposits than larger banks, particularly during the early stages of the pandemic.

“Community banks tend to specialize in lending based on close personal ties between the loan officer and the small business customer,” James said. “This type of lending requires providing branch managers with greater decision rights in making lending decisions. As a result, lenders at community banks were able to respond faster when the PPP was introduced.”

Consistent with community bank focus on small business lending and their faster implementation of lending, the authors find significantly more loans per small business in counties where community banks had higher market shares. More important, the authors find that higher levels of lending are associated with significantly fewer small business bankruptcies.

Overall, James, Lu and Sun’s research finds that community banks are an important source for small businesses when crises, like the COVID-19 pandemic, arise and business owners need to secure help quickly to continue paying their employees.

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Shopee launches #TatakPinoy virtual trade fair to support Filipino businesses

Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, launches #TatakPinoy, a virtual trade fair geared towards supporting homegrown Filipino brands and micro, small, and medium enterprises (MSMEs).

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Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, launches #TatakPinoy, a virtual trade fair geared towards supporting homegrown Filipino brands and micro, small, and medium enterprises (MSMEs). 

Shopee consistently advocates for the growth of local businesses. Amid the COVID-19 lockdown, which forced hundreds of Filipino businesses to close physical shops, Shopee supported over 1,000 sellers transitioning online through Shopee’s Seller Masterclasses and its partnerships with the Department of Trade and Industry (DTI), United States Agency for International Development (USAID), and local government units. The initiatives helped Filipino entrepreneurs gain a basic understanding of e-commerce and digital marketing. Sellers were also able to master Shopee’s marketing tools, helping them achieve their maximum potential in e-commerce. 

To further strengthen support for local entrepreneurs, Shopee and DTI are set to launch the very first #TatakPinoy Virtual Trade Fair, a campaign that aims to promote products from Filipino brands and local MSMEs. From February 19 – 21, shoppers can discover local delicacies and pasalubong items, particularly those from Regions XII and IV-A, on Shopee. They can also buy products from Filipina-owned businesses, championed by Shopee and USAID’s partnership to empower local female entrepreneurs. 

In its statement, DTI’s Bureau of Domestic Trade Promotion announced, “The Department of Trade and Industry – Bureau of Domestic Trade Promotion is proud to be a partner for #TatakPinoy on Shopee. This initiative will connect thousands of consumers to more than a hundred MSMEs on one platform. We invite Filipinos from all over the country to patronize and take pride in products that are certified #TatakPinoy from the National Trade Fair Pop-up Store and Go Lokal! Shopee Mall.”

Martin Yu, Director at Shopee Philippines, said, “We strongly believe in the importance of uplifting homegrown entrepreneurs. From microbusinesses to SMEs, these local brands all contribute to the Philippine economy’s growth as a whole. Considering that most local businesses still can’t promote their products outside of online platforms due to the pandemic, Shopee also wants to create the opportunity to showcase the best Filipino brands. We will continue to spearhead campaigns that help reignite pride and demand for local products and drive the growth of the economy.”

Aside from discovering high-quality local craftsmanship and assisting local businesses in the process, shoppers can enjoy exclusive discounts up to 10% off on participating Filipino brands such as Colourette, Vice Cosmetics, and Human Nature. 

Shoppers can also enjoy more deals when they checkout using ShopeePay. For more information about the #TatakPinoy Virtual Trade Fair, visit https://shopee.ph/m/tatak-pinoy

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