Help for SMEs goes digital

MANILA, Philippines - The advocacy to bring small and medium and enterprises (SMEs) into the digital loop took another step forward recently with the unveiling of an enhanced online resource and business management platform for Filipino entrepreneurs.

The SME Toolkit Philippines, first launched in 2006 by IBM Philippines, World Bank’s International Finance Corp. (IFC) and PDB SME Solutions Inc., an affiliate of Planters Development Bank, offers a range of how-to articles, business forms, free business software, online training, self-assessment exercises, quizzes, and resources to help entrepreneurs, business owners, and managers in emerging markets and developing countries start, finance, formalize, and grow their businesses.

“What is new is that the SME Toolkit is that it is really merging with the global platform,” said Luc Vaillancourt, IFC program manager for access to finance.

The toolkit itself, according to Vaillancourt, is available in 32 countries and 17 languages and has a proven track record in reaching millions of SMEs worldwide. Over time, the toolkit has been adapted to meet the needs of the local market.

In the Philippines, the SME Toolkit is being managed and hosted by PDB SME Solutions Inc. at its website at sme.com.ph.

Bernadette Ratcliffe, Planters Development Bank (PDB) SME Solutions treasurer, said the company provides timely and relevant business information on the website that will help SMEs keep abreast of global best practices in entrepreneurship and business in general.

IBM Philippines, on the other hand, as the project’s technology partner, provides the technology solutions needed to power the business management platform such as rebuilding the toolkit to include new features such as live chat, online forum, business directory, and survey capability.

Ratcliffe said these efforts are expected to create a bigger, more vibrant community of entrepreneurs in the Philippines.

SME Toolkit users worldwide are mostly based in developing countries. As such, the platform offers customized content tailor-fit for the needs of entrepreneurs in the developing world.

Topics such bookkeeping and cash flow management, budgeting and forecasting, and finding financing on the accounting and finance side, and contracts and regulations, copyright, patent and trademark, and insurance for businesses on the legal side are great help for start-ups and budding entrepreneurs.

Vaillancourt said the important goal of the toolkit is to let the word out that there is help for entrepreneurs to grow their businesses.

“The more SMEs use these tools the more helpful it becomes globally,” Vaillancourt said, adding that a significant portion of SMEs still think they don’t need financing or don’t have access to financial services.

“To prevent them from saying I’m not good enough for financing, the toolkit should be a very important tool to help them understand how to apply for funding that could help them grow,” he said.

Now, with the revitalized and enhanced version of the SME Toolkit, entrepreneurs can now use a business management platform that carries new capabilities such as allowing them to connect with other entrepreneurs.

IBM disclosed that it has reengineered the toolkit’s business management platform with open source software and added new key functionalities such as collaboration, community and diagnostic tools.

“What we created was a one-stop-shopping tool for businesses,” said James Velasquez, country general manager of IBM Philippines. “Most importantly, it is a tool that levels the playing field for the benefit of SMEs. We leverage on the same tools that large enterprises use today.”

On the technology side, the toolkit also features information on ecommerce, e-mail and Web marketing, Web hosting and development, and telecommunications, among others.

“Over three decades of experience in financing SMEs, we understand that we are at the forefront of enabling entrepreneurs, helping their businesses grow and realizing their full potentials as key contributors to the economy,” said Ratcliffe.