SM says to help 100 start-ups set up shop in its malls

Jessica Fenol, ABS-CBN News

Posted at Oct 18 2021 10:37 AM

MANILA - At least 100 small online businesses who want to expand to physical stores can take advantage of SM Start-up Package launched last Oct. 15, the Sy-led mall operator said. 

SM said it is looking for 100 small, micro and medium entrepreneurs (MSMEs) that have established online presence to set-up shop within its malls, SM Supermalls Assistant Vice President for Leasing Strategy and Operations Gina Katigbak told reporters.

Chosen tenants can avail of "friendly rental rates," free use of kiosks or carts, marketing assistance, financial assistance through BDO as well as mentorship program from SM group experts, the company said. 

“This is a program that never before has been done and we’re invested in your growth. You’re the unsung hero during the pandemic… we’re excited to bring you to the mall," Katigbak said.

Tenants for the program don't have to build anything, they will just have to bring their stuff and start selling, she added. 

Despite the reported number of MSME closures in 2020, registration of online businesses surged with over 88,000 new registrations in 2020, data by the Trade Department showed,

To qualify, a start-up should have:

• An existing business operation for 3 years with no existing physical store
• With 1 to 9 employees
• Has a maximum of P3 million in asset size
• With complete business registration and tax documents
• Original and home-grown brands 

Those interested can just visit the SM Supermalls website, social media pages or scan the QR code in SM Start-up Package posters located at its malls, it said. 

The 100 startups will be situated in prime mall locations within 13 regional malls in major cities, SM Supermalls said. 


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