MARKET RESEARCH VITAL TO MSMES

Philexport says lack of information on regional markets hinders small and medium enterprises from seeking new opportunities in new areas such as Southeast Asia

Promotional funds and market research are among the top forms of assistance that small and medium enterprises (SMEs) need to compete against their peers in the Association of Southeast Asian Nations (ASEAN), Philexport officials said.

In a statement, Philexport assistant vice president for advocacy Ma. Flordeliza Leong said tackling the information gap, especially regarding regional markets and ASEAN competitors, is one of the urgent government interventions the export community seeks.

Leong explained that SME exporters don’t have the resources to conduct regular field research on opportunities in new markets.

She said that the country is “only scratching the surface” in terms of knowledge about the Asian marketplace, adding that “despite our proximity to them, we practically know very little of the buying patterns of our neighbors.”

“There are a lot of key facts we want and need to know to open new markets,” Leong said.

“If we are lacking fresh information on our potential and present markets, we know even less about what our competitors are doing to beat us. It is in this area—intimately knowing the market and competition—where exporters badly need fresh information,” she added.

Philexport is pushing for various interventions, including support for promotion and financing access to strengthen trade ties.

Philexport president Sergio Ortiz-Luis Jr. said increased market intelligence and business matching will help exporters, especially MSMEs, better position themselves to penetrate larger shares in ASEAN.

Philexport Cebu executive director Fred Escalona said providing fresh market information to exporters is vital for them to remain relevant and competitive.

Escalona said Philexport-Cebu has run various seminars in the past on market intelligence, digging for gold or web mining, finding trade partners, market research and analyses. He said member-exporters may use their website to get trade information and statistics and tailor-fit it according to their needs.

“We can also help exporters who want to develop new markets (market diversification),” he said.

Philexport-Cebu’s pool of experts is part of the Department of Trade and Industry’s Business Development Services. /