How online banking is helping MSMEs cope with the COVID-19 crisis

Due to the current COVID-19 pandemic, micro, small, and medium enterprises (MSMEs) -- the sector frequently deemed as the very driving force of the Philippine economy -- is now in its most challenging phase yet.

Statistics from the Department of Trade Industry (DTI) show that as of 2018, 99.52% of all businesses or 1,003,111 enterprises in the Philippines are MSMEs. In addition, the MSME Development Council noted that new registered businesses in the country went up by 30,000from 1.39 million in December 2018 to 1.42 in May 2019. About seven out of ten employed Filipinos work at an MSME establishment, also based on the DTI data.

This puts the MSMEs as the most vulnerable during economic fallouts due to the small scale at which they operate. The Luzon lockdown has forced MSMEs to either pause operations completely or think of ways they could continue serving customers while complying with the government mandate. 

Fortunately, some MSMEs can afford to implement a work-from-home arrangement. They don't necessarily need their employees in-office and can easily move their entire operations online and into a cloud storage space. Other MSMEs, meanwhile, still operate amid the lockdown rely on available business solutions powered by the internet, such as social media apps like Viber, just to stay afloat.

Since MSMEs are the lifeblood of the economy, banks that have given them the initial financial push are providing them with assistance, primarily via online banking. And sure enough, there has been a significant increase in online banking enrollments and transactions due to the demand to use these digital platforms to pay insurances, bills, and process payroll.

One MSME owner benefiting from online banking during the enhanced community quarantine is The Philippine Star columnist Wilson Lee Flores, who owns the historic Kamuning Bakery Cafe in Quezon City.

Wilson bought the bakery from the founders' children in 2014. Since then, the iconic cafe has had its ups and downs, including being severely damaged by a fire caused by a neighboring restobar in 2018.

But Wilson kept the business going even while it was still recovering from the fire, taking inspiration from the movie "The Greatest Showman," by using a special tent to keep serving its patrons.

However, the bakery cafe hadn't fully recovered yet when the Luzon lockdown happened. Fortunately, Wilson has been in partnership with BDO in growing and expanding his business, and has been a user of BDO Online Banking.

"BDO is very friendly and helpful to the needs of the MSMEs in the Philippines. We are happy that customers of Kamuning Bakery Cafe have the convenience of paying us online and receiving their breads, pastries, pies, cookies, fresh milk, etc. via home deliveries,” Wilson said.

“This BDO Online Banking convenience and efficiency has helped boost our sales tremendously,” he added.

Wilson said that because of the lockdown, they had to immediately think of ways they could adjust and cope with the crisis. Now, they have a new delivery service, made possible by BDO Online Banking, which they're looking to continue even after this critical period to further expand their business.

When asked what his advice is to fellow MSMEs, Wilson encourages others operating in this sector to "tap [into] modern technologies like BDO Online Banking," along with marketing products and services through social media in order to, not only survive, but also thrive, and even compete with big businesses.

"Every crisis or problem should not cripple or paralyze us, but should make us quickly adjust and think of creative, flexible, agile ways to cope and even grow," Wilson said.

Wilson went on to say that a reliable bank is vital to the security and growth of any business, big or small, and MSME owners shouldn’t shy away from the help and solutions such could contribute for the furtherance of one’s company.

Wilson believes that the Philippine economy is just as resilient as its people and that it has a bright future ahead. It is high time for MSMEs to "work harder, have positive attitudes, think of ways to innovate always, seek ways to satisfy customers, [and] plan for expanding [one's] business," exhorted the Kamuning bakery cafe owner.

The speed at which the outbreak escalated was unforeseen and nobody could've prepared well enough for it. But it’s also in times like these that Filipinos are able to come up with the best ideas in order to keep going and face the challenges thrown their way head on.

Bo’s Coffee puts safety, sanitation at forefront as it reopens its doors to patrons after ECQ lift

The safety and health of customers, delivery partners and store teams remain the top priority at Bo’s Coffee. With the continued spread of COVID-19 threats around the country, most businesses remain closed until the enhanced community quarantine (ECQ) is lifted, while others are able to open but with their own ways of keeping their stores safe and sanitary.

One of the local businesses that is slowly re-opening their doors is Bo’s Coffee, the beloved Philippine-homegrown coffee chain. While the brand continues to serve through delivery and pick-up from few select locations, Bo’s Coffee is also preparing to slowly reopen their stores to the public with extra safety and sanitary measures to ensure that their customers are in good hands. 

Here are the things Bo’s Coffee is currently doing to ensure the safety and sanitation of their stores for their customers and its store teams: 

COVID-19 Safety Plan – How Bo’s Coffee is making sure their customers are safe 

Sanitation Stations

Among its current efforts are providing sanitation stations which includes foot baths or sanitation mats that will be used by customers and team members to sanitize their shoes before entering the store, an automatic hand sanitizer dispenser at the entrance of the store, hand sanitizers at the cashier and bar areas, and temperature checks by the store team member or security personnel. 

Air Quality

Air conditioning units and air vents will be thoroughly sanitized and cleaned at least once a week to make sure there is minimal chance of air contamination.

Store team members are also required to wear face masks at all times.

Social Distancing

Initially, most stores will be open only for entryway service, delivery, pick-up, take-out and curbside pick-up. Stores that will be open for dine-in service will have their seating capacity lessen by half to maintain social distancing. 

There will be markers on the floor to indicate proper distance between customers who are in line to order. 

Contactless Transactions

Contactless service is also being strictly implemented during this time and customers are strongly encouraged to use Bo’s Coffee Order Ahead via Messenger platform for seamless ordering and cashless payment. 

Online ordering and delivery is also available through their delivery partners FoodPanda, LalaFood, and soon GrabFood.

All electronic payments are accepted at Bo’s Coffee and for credit card payments, customers will be asked to personally slot in their credit card in the terminal. Meanhwhile, there will be cash trays provided for cash transactions to avoid direct contact. 

While Bo’s Coffee has strongly supported the movement on reducing single-use plastic, the safety of customers is now of higher importance and points of contact are minimized with the use of disposable packaging and non-use of ceramic wares and personal tumblers.

Condiments will be removed from the condiments station to minimize handling by multiple people and will be given by the barista together with the beverage order.

COVID-19 Safety Plan – How they’re making sure their store team members are safe 

Health and Safety of Team Members

Aside from their customers, the company also highly prioritizes the safety and health of their employees. 

Some of the measures being implemented are daily body temperature checks of each store personnel at the start of each shift, clothes and shoes sanitation of each employee upon arrival at the store, personal protective equipment such as face masks, face shields and gloves are to be worn by each team member at all times, and a foot bath/sanitation mat will be provided for them, among other things. 

Sanitation Strategy 

Before store reopening, team members will undergo online training on new and updated safety, cleaning and sanitation procedures.

Team members are also required to follow strict cleaning and sanitation procedures during pre-opening and post-closing of the store. While in operation, all points of contact and areas touched by customers and team members will be cleaned and sanitized regularly. 

Since the washroom is considered a hotspot, it will be kept locked, but customers will be 

advised to ask the store team member to open it—should they need to use it—and will be sanitized after every use.

The re-opening of Bo’s Coffee stores will be based on the national government’s guidelines on which areas are under ECQ or GCQ. However, at the top of mind is the consideration for team members’ accessibility and safety as well as customer needs.

“As the post COVID-19 new normal, things will be very different with our stores now putting more emphasis on providing a safe and sanitary experience to both customers and team members, but the one thing that will be the same is we will strive to provide our customers the best Philippine Coffee experience whether in the comfort of their homes or in our stores,” Bo’s Coffee chief executive officer Steve D. Benitez said.

For more details on Bo’s Coffee Brand Story, current store operations, products and services, you may visit their website at www.boscoffee.com and their social media accounts at Facebook.com/boscoffee/ IG and Twitter @boscoffee.

Solane gives back to Cebu frontliners

Solane, the country’s leading LPG brand, recently showed appreciation and gratitude to frontliners in Cebu who have been selflessly serving the community during provincial lockdown to prevent the spread of COVID-19.

Solane employees in Cebu prepared and distributed meal packs, grocery items, and other essentials to police officers, security guards, food vendors, barangay officials, and other frontliners in Mandaue City, Liloan, and Consolacion, Cebu. 

Previously, Solane, together with Solane Kitchen Hero winner Chef Coke Semblante and his team from Cebu City, also worked together in providing free food to health workers and other frontliners in different areas of the province who are actively fighting the spread of COVID-19.

For more information, visit https://www.solane.com.ph/ or https://web.facebook.com/solane.ph/.

Life lessons from the pandemic

The COVID-19 outbreak has been putting a large amount of stress on everyone. However, we must also remember that this is not going to last forever and that if we are open to it, we can learn many life lessons that can help us live better lives.

Here are some valuable lessons we can take from the health scare and enhanced community quarantine. 

Be prepared for any scenario. The best defense we can have against life’s uncertainties is to be ready for anything. Have an emergency fund and insurance for chaotic times like these. If you haven’t yet, build up a savings plan or take out health insurance— these are a couple of the best ways to deal with financial setbacks that may be caused by unforeseen events. 

Make adjustments to your lifestyle. Since restaurants and gyms have been either limited or closed, this pandemic has been teaching us to eat better, get enough sleep, and make time to exercise even at home. Remember, what you do every day essentially affects how long and how well you’ll live. It’s always better to establish good habits sooner rather than later.  

Be a friend of the environment. COVID-19 has been a wake-up call to how badly we’ve been treating the environment. With the enhanced community quarantine in place and limited cars on the road, nature has been healing, as evident in the smog-free skies. Taking even small steps like carpooling, recycling, and planting more trees can help further restore the balance of nature. 

Take time for yourself. Participating in the rat race entails multitasking and promotes staying busy as a measure of success. Taking breaks to unplug and recharge is usually seen as weakness. However, overexerting yourself is unhealthy so it’s best to listen to your body. You are not required to stay busy. One of the silver linings of the pandemic is the gift of time. Use it wisely to honor your needs, whether that is reading a book or simply having more time for family.

Share your blessings with others. We should try helping those who find it hard to get by. In addition to the numerous deaths and cases, the pandemic has brought on negative economic implications: small businesses are closing, many people are losing their jobs and are finding it hard to take care of themselves and their families. We must strive to be empathic and give what we can – no amount or donation is too small. In the same vein, now is also a good time to show Pinoy pride and support local businesses.

For more information on AXA Philippines insurance products, visit www.axa.com.ph.

How to Pay your bills without leaving home

Staying home during the Enhanced Community Quarantine doesn’t mean you have to skip completing important housekeeping tasks - like paying your bills. While payment deadlines for these have been extended, paying on time allows you to easily keep track of your bills and expenses. 

Good thing there are apps like PayMaya that allow you to do this for yourself, or for your loved ones, without having to step out of your home. All you need is to access the Pay Bills function of your PayMaya app. 

Together, let's continue to stand as #OneAgainstCOVID19. Stay safe!

Emergencies can happen anytime and it’s best to be ready

Nobody could have anticipated the unwelcome surprises that 2020 has so far brought along with it. Some of these include the eruption of the long-dormant Taal Volcano and the 2019 coronavirus (COVID-19) pandemic. COVID-19 has infected as many as over 930,000 people worldwide and claimed over 47,259 lives and counting. Statistics like these show that emergencies can happen anytime and it’s best to be ready for anything.

Even though there’s no way to predict life’s unpleasant surprises, we can always prepare to ease some of the burden. Life’s uncertainties may include problems related to health, natural calamities, travel mishaps, and more. Stay calm, consider all your options, consult with experts if you can or read up on books and information, and make a plan.

AXA Philippines, one of the country’s leading insurance providers, offers tips on preparing for some of life’s unexpected situations:

Live a healthy life. Chronic illnesses can be avoided by improving your lifestyle. Eat nutrient-rich food, incorporate exercise into your week, and get enough sleep. It’s also a good idea to consider having health insurance to help minimize or eliminate medical expenses. By continually making healthy choices, the quality of your life can also improve.

Have an emergency fund. Start keeping a budget to track your expenses. Also, try to be prudent in managing your budget. Ideally, these funds will provide you with enough cash for three to six months of living expenses and basic needs, should the need arise. 

Get protection for trying times. If there’s a pandemic or state of emergency, expenses are bound to go up. There’s no telling when you or a family member may get infected with something as contagious as COVID-19, which is why having health or life insurance is extremely helpful. Insurance can provide coverage for the damages the coronavirus or other health scares can incur.

Keep your home safe and sound. In the Philippines, natural calamities, such as typhoons and earthquakes, can also strike and leave behind wreckage in people’s lives. It’s advisable to have an emergency kit ready and familiarize yourself with all the safety protocols. You can also protect your home and belongings by purchasing property insurance which provides coverage against weather damage, earthquakes and fires.  

Travel without worrying. Even when you’re traveling, inconveniences are bound to happen. Aside from having a back-up plan, having travel insurance can cover anything from trip cancellations to lost luggage. At times, accidents or car trouble can also occur even commuting to and from work. Don’t be that stranded driver on EDSA. Get regular car tune-ups and consider car insurance as well. Insurance can help with vehicle breakdowns and emergencies on the road. There is also an insurance policy for every budget.

For more information, visit www.axa.com.ph or talk to an AXA financial advisor today.

Palacio de Memoria offers virtual tour

Art and history enthusiasts can now go on a virtual tour of Palacio de Memoria, the resplendent Colonial Revival mansion, and marvel at its luxurious facilities and hundreds of Euro-Filipino paintings, sculptures, art displays, and historical pieces online. 

The virtual tour offers a highly detailed and interactive presentation of the heritage house. If you haven’t visited Palacio de Memoria yet and are looking for a more "enriching" activity during the COVID-19 lockdown, now is the perfect time to explore and “walkaround” the place through 360-degree videos as if you are there in real life.

“Many Filipinos are ordered to stay home at the moment to protect themselves from the coronavirus pandemic. With most of us being isolated from the outside world, we hope that Palacio de Memoria’s virtual tour will not only give them respite during these uncertain times but also keep them productive as they learn and get a glimpse of a significant time in our history that was once Manila’s prime,” said Palacio de Memoria general manager Camille Lhuillier.

The tour will begin with an aerial and outdoor view of the estate which shows the restored pre-war mansion. It then leads to the first floor which shows the Los Tamaraos Ballroom and its Murano chandelier, as well as the terrazzo floor by National Artist for Architecture Juan Nakpil.

It also shows the showroom of Palacio de Memoria’s auction house, Casa de Memoria or the Casa, which houses the Lhuilliers’ unrivalled collection of antiques. Other highlights include the Mosphil Lounge, a passenger plane that that was refitted to be a lounge for special occasions; the bridal suite which is perfect for weddings; and the recently opened museum which also serves as a chapel for intimate weddings and religious gatherings.

To view the complete Palacio de Memoria’s virtual tour, visit https://www.palaciodememoria.com/tours. For more updates, follow @thepalaciodememoria on Facebook and @palacio.de