SM Group Fosters the Next Wave of Young Entrepreneurs in the Philippines

In a bid to create a more inclusive economic environment, the SM Group has emerged as a vital player in nurturing young entrepreneurs within the Philippines. As a key player in the retail and property sectors, SM has forged robust partnerships with micro, small, and medium enterprises (MSMEs), enabling over 100,000 businesses to thrive in a supportive ecosystem. This initiative particularly focuses on Gen Z and Millennial entrepreneurs, who are significantly contributing to the dynamic business landscape.

A Launchpad for Aspirations

The commitment to supporting these young entrepreneurs is reflected in the fact that nearly 70% of tenants in SM Supermalls are MSMEs. These shopping centers have evolved into vibrant marketplaces where young visionaries can present their products and interact with customers face-to-face. Mr. Joaquin L. San Agustin, Executive Vice President for Marketing at SM Supermalls, comments, “We’ve witnessed a considerable rise in participation from Gen Z and Millennial entrepreneurs in our MSME programs. Many are taking their first steps into entrepreneurship, and SM is committed to being the launchpad for their ambitions.”

To facilitate this, SM offers platforms such as the MSME application portal, pop-up markets like the Viyline MSME Caravan, Artisan Fair, Souk Fair, and the Art Market. This ecosystem allows aspiring entrepreneurs to discover opportunities to lease space and connect with their target audience effectively.

Revitalizing Business Spaces

Mr. San Agustin emphasizes the freshness and innovative perspectives that these young business owners bring. “Working with Gen Z and Millennial entrepreneurs invigorates our malls, transforming simple booths into engaging experiences and side hustles into established businesses,” he shared, highlighting the vibrancy they add to the retail environment.

Supporting Local Talent

One inspiring story comes from Hannah Garcia, the founder of Pamanna Jewelry, who, at 28 years old, transformed her passion into a thriving business through Kultura, a retail brand under SM. Kultura has partnered with about 15 to 20 young suppliers, all eager to embark on their entrepreneurial journeys. Sheila Tan, Kultura’s Senior Assistant Vice President for Operations, explains, “We select our suppliers based on their market understanding and capacity for product development, but we also consider their willingness to grow with us and align values.”

This partnership model not only provides these young entrepreneurs with a platform to reach their full potential but also enriches Kultura’s offerings with unique, culturally inspired products.

SM Investments Corporation: Leading the Change

SM Investments Corporation stands as a leading entity in the Philippines, actively investing in sectors such as retail, banking, and real estate. Their extensive retail operations include grocery chains, department stores, and specialty retail, making them one of the most diversified players in the industry. SM Prime Holdings, the property arm of SM, is the largest integrated property developer in the country, managing malls, residential complexes, offices, and more. Notably, SM also invests in significant banking institutions such as BDO Unibank and China Banking Corporation, underscoring their commitment to fostering economic growth in the Philippine economy.

As SM continues to bolster its support for young entrepreneurs, it paves the way for a future where innovation and local talent can thrive, reshaping the entrepreneurial landscape of the Philippines.