SM Investments Corp. Vice Chairperson Tessie Sy-Coson has urged micro, small and medium enterprises (MSMEs) to broaden their markets and strengthen sales, saying good products and innovation alone cannot sustain business growth, create jobs and improve livelihoods.
Speaking at the “From Commodity to Identity” session of the ASEAN Business and Investment Summit on November 15, Sy-Coson said entrepreneurs must give market development as much attention as production, technology and packaging.
“I think we have to look into the market, and not only on the quality but also the market as well,” she said.
She cited Lionheart Farms, a coconut-based enterprise seeking to improve farmers’ incomes, as an example of a business with strong products, technology and packaging that needs wider market exposure to achieve scale.
Rather than focusing heavily on exports, she urged entrepreneurs to explore opportunities at home, where a large consumer base offers room for growth.
“Maybe you look at the foreign market a lot. But look at the Philippine market. There’s a lot,” she said.
She also encouraged MSMEs to use trade fairs, online platforms and alternative distribution channels instead of relying exclusively on large supermarket chains.
“You don’t need SM or the organized market to do that,” she said.
Lionheart founder and CEO Christian Moeller had earlier raised the challenge of ensuring coconut farmers receive meaningful incomes despite strong global demand for coconut-based products.
Sy-Coson said wider market reach could help businesses increase sales volumes, lower costs and generate resources for worker training, employment and financing.
She pointed to SM’s own expansion as an example of how the growth of large businesses can create opportunities for smaller suppliers and retail tenants.
“When we expand, they expand as well,” she said.
Her message underscored a practical challenge for inclusive business models: creating products that benefit farmers and communities is only part of the equation. Businesses must also secure reliable buyers, generate recurring revenues and manage financing costs if they are to remain commercially viable and deliver lasting benefits to their partners.
