MSMEs On Top: Insights for Growth and Innovation by Tech Listens by Symph

On July 11, 2024, the Elena O. Diola Hall at DOST 7 in Cebu City buzzed with excitement and energy as local business owners, government representatives, and industry experts gathered for “Tech Listens by Symph.” Themed “Micro, Small, and Medium Enterprises (MSMEs): Growth and Innovation,” this event was a melting pot of ideas, strategies, and tech solutions aimed at driving MSMEs to new heights.

The Dynamic Lineup for Growth and Innovation

The heart of the event lay in its lineup of exceptional speakers, each bringing a wealth of experience and unique perspectives to the table. These industry leaders shared their journeys, insights, and visions, offering valuable lessons for all attendees.

Engr. Jopriz A. Zamora brought over two decades of experience in industrial, factory, and building automation. As the General Manager of Cebu Metrologyx Technical Services and the President of several innovative companies, Engr. Zamora emphasized the critical role of technology in modern business practices. He underscored the need for continuous innovation and the importance of standardization and optimization.

Lieda Evangelista, with her rich background in the food and beverage industry, highlighted the significance of adding value through skills and listening to customers. As a Production Manager at Familia Sinco de Especias, Inc., she shared her experiences in managing various departments and stressed the importance of investing in training and education.

Zee Pono, the visionary behind GRND UP, captivated the audience with his inspiring story of turning a home kitchen startup into a national brand. Zee’s commitment to sustainability, local sourcing, and community engagement was evident as he spoke about the importance of identifying problems, taking calculated risks, and always filling gaps in the market.

Michael Louwelle Uy, a business owner with a robust background in sales and marketing, discussed his passion for business development and the challenges faced in transitioning from a restaurant to a manufacturing setup. He highlighted the need for MSMEs to adopt technology and navigate the complexities of licensing and capital access.

Finding the Path to Growth and Innovation: Key Insights from the Panel Discussions

Throughout the panel discussions, several crucial insights emerged. These takeaways provided practical guidance and inspiration, demonstrating the strategies and mindsets necessary for MSMEs to thrive in today’s competitive landscape.

The panel discussions were rich with valuable insights:

• Add Value Through Skills: Enhancing skills is essential for staying competitive and adding value to your business.
• Listen to Your Customer: Understanding customer needs and feedback is crucial for continuous improvement and customer satisfaction.
• Identify the Problems: Recognizing and addressing problems head-on can lead to innovative solutions and business growth.
• Take Calculated Risks: Taking risks is necessary, but they should be well thought out and calculated to minimize potential downsides.
• Strive for Standardization and Optimization: Streamlining processes and optimizing operations can lead to greater efficiency and cost savings.
• Invest in Training and Education: Continuous learning and development are vital for personal and professional growth.
• Technology is a Need: Adopting the latest technologies is not just beneficial but necessary for staying relevant in today’s fast-paced market.
• Always Fill Gaps in the Market: Identifying unmet needs and addressing them can provide a significant competitive advantage.

Challenges to Growth and Innovation Faced by MSMEs

The speakers also shared the common challenges that MSMEs encounter:

• Taste Differences: Catering to diverse customer preferences can be challenging.
• Heavy Costs for E-commerce: The initial investment in e-commerce platforms can be substantial.
• Adoption of Technology: Integrating new technologies into existing systems can be difficult.
• Business Transition: Shifting from one business model to another, such as from a restaurant to manufacturing, involves significant hurdles.
• Licensing: Navigating the regulatory landscape can be complex and time-consuming.
• High Demand for Overseas Manpower: Competing for skilled labor in the global market is tough.
• Access to Capital: Securing funding remains a significant barrier for many small businesses.

Suggestions from MSME Leaders for Growth and Innovation

The event concluded with a strong recommendation: Organize Events and Forums for MSMEs. Bringing together business leaders, industry experts, and stakeholders can foster collaboration, share knowledge, and drive collective growth.

Towards Sustainable MSME Growth and Innovation

“Tech Listens by Symph” was a resounding success, offering a wealth of knowledge, practical strategies, and inspiration to the MSME community. By embracing innovation, investing in skills and education, and leveraging technology, MSMEs can overcome challenges and seize new opportunities for growth and success. As the event highlighted, continuous engagement and collaboration are key to building a thriving MSME ecosystem.