On May 31, 2019, more than a hundred entrepreneurs from Cebu participated in Facebook’s Accelerator Workshop at the Quest Hotel and Conference Center in Cebu City. Partnered with the Department of Trade and Industry (DTI), Facebook’s digital skills training aimed to enhance SMBs or Small and Medium-sized Businesses.
The training was in collaboration with the Bayan Academy’s #BoostYourBusiness for aspiring entrepreneurs and the Connected Women’s #SheMeansBusiness program. Together with the Department of Information and Communications Technology (DICT), the Connected Women’s program objective is to increase the economic participation of women in the Philippines through entrepreneurship, and the adoption of technology for business success.
Facebook held this training to help entrepreneurs expand their opportunities online. This was done by teaching them how to make use of the digital arena to attract target buyers. According to Chay Mondejar-Saputil, Client Partner of Facebook Philippines,
“It’s important for businesses of all sizes to be able to adapt to trends that are shaping our new digital marketplace. We are committed to supporting business in their digital transformation journey, to unlock growth opportunities and connect them to today’s mobile-first Filipinos.”
“We are glad to be working with Facebook in helping create inclusive, innovation-led growth for Philippine SMBs. Ninety-nine percent of businesses in the country are SMBs and they are the backbone of the Philippine economy. Together with Facebook, we will continue to empower SMBs as their success ultimately translates into more jobs and economic opportunities for Filipinos,”
…said Ma. Elena C. Arbon, OIC DTI Assistant Regional Director for Central Visayas.
The Rise of Social Media
According to the website, We are Social
“Well over half of the world’s population is now online. Latest data shows that nearly a quarter of a billion new users came online for the first time in 2017. Social media use continues to grow rapidly too. The number of people using the top platform in each country has increased by almost 1 million new users every day during the past 12 months. That’s equivalent to more than 11 new users every second.”
And get this,
“For the third year in a row, Filipinos spend the greatest amount of time on social media, with the average user in the country spending almost 4 hours on social every day!”
“Facebook’s core platform still dominates the global social landscape, with total users reaching almost 2.17 billion at the start of 2018. WhatsApp and Facebook Messenger both grew twice as fast as the core Facebook platform though, with the number of people using each messenger app up by 30 percent year on year.”
How will Social Media Impact SMBs?
Businesses are no longer restricted to brick and mortar structures. SMBs can now make use of digital and social media to connect with potential customers around the globe. There are now more than 100 million Filipinos, and 76 million are active social media users. And a whopping 90% are using e-commerce platforms to buy consumer goods or services, with 70% making a purchase! Trends show that it is increasing every year. This means there is a huge market potential for SMBs online.
It is imperative for businesses to go social and engage their consumers on a more personal level. The digital era has certainly changed the way we sell and shop! This is why Facebook and its partners are conducting digital skills training for entrepreneurs. Social media is vital to SMBs in order to achieve business growth and realize its potential revenue.