Despite pandemic, poll says small businesses in the Philippines bullish of growth

Majority of small businesses in the Philippines remain confident they will continue to grow amid the coronavirus pandemic, a survey says.

Around 88 percent of small and medium-sized enterprises are still confident of their growth in the next three years, according to a survey conducted by SAP and Oxford Economics titled “Digital Resilient, and Experience-driven: How Small and Midsize Organizations Can Prepare for the New Economy.”

Moreover, 89 percent of the SMEs also adjusted their employees to work remotely due to the tough lockdowns implemented in the past months to supposedly help curb the number of COVID-19 infections.

For the rest of the Asia Pacific region, SAP continued to recognize the Philippines as one of the fastest-growing markets in the world amid the global health crisis.

Across the region, 69% of these enterprises have invested in IT and digital solutions to cope with the new working conditions.

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