Tessie Sy-Coson was just eight when she became a shoe salesgirl during the Christmas rush. Her small frame may have made her an unlikely salesperson, but the experience taught her an early lesson about business: everyone has something to contribute.
“I have a small frame, and you can imagine how small I must be,” the SM Investments vice chairperson and BDO chairperson recalled during the “In Her Shoes” fireside chat at the ASEAN Inclusive Growth Summit.
The family business she helped out in would eventually grow into the SM group. Yet its humble beginnings remain central to how Sy-Coson views entrepreneurship and why the group continues to make room for small businesses to grow alongside it.
“We grow, they grow,” she said, describing the relationship between SM and the small retailers and suppliers that have expanded their businesses through the group.
For many entrepreneurs, getting a product in front of customers is the first hurdle. SM’s malls help bridge that gap through fairs that give small businesses access to shoppers and a chance to test their products. Some eventually graduate from fair participants to mall tenants.
The group also provides venues for Go Negosyo mentoring activities and works with the Department of Trade and Industry on trade fairs, extending support beyond retail space to business development and market access.
Financing is another part of the equation. Sy-Coson said BDO provides business loans to small enterprises, while BDO Network Bank serves underserved communities through its network of about 600 branches.
The BDO Foundation complements these efforts with financial literacy programs for farmers, fisherfolk, schools, and government personnel, recognizing that access to financial services also requires the knowledge to use them effectively.
For entrepreneurs navigating difficult economic conditions, Sy-Coson’s advice is to stay close to the customer rather than lose sight of the market.
“You just look into your market, serve your market, work hard, and you’ll be able to get over it,” she said.
That means understanding customer needs, recognizing market opportunities, keeping an eye on competitors, and adapting to new technologies, including artificial intelligence.
Her message reflects a belief that business growth is not necessarily a zero-sum game. Larger companies can help create opportunities for smaller enterprises, which in turn contribute to a broader and more dynamic economy.
Sy-Coson hopes more entrepreneurs will persevere, build sustainable businesses, and eventually become major players themselves.
It is a lesson that goes back to her family’s own experience. As her father used to tell friends: “If he can do it, you can do it too.”
