Creative micropreneurs positive on recovery sans continuity plan

CEBU, Philippines —  Even without proper business continuity plan (BCP), most micro-small and medium businesses in the creative sector expressed confidence on faster recovery.

In a survey conducted by Cebu Creative sector, it revealed that while most businesses in the sector suffered from the brunt of COVID-19 pandemic, Creative MSMEs are “overly optimistic” about the recovery.

However, what concerns the prime movers of the creative sector is the nonchalance of MSMEs to develop proper BCPs for their businesses going forward under in the new normal environment.

The latest figures released by the Philippine Statistics Authority further reinforces the extremely dire situation for those engaged in this sector – registering the steepest year on year declines vis-a`-vis any other sector.

A stark majority of creative practitioners surveyed also did not receive any government aid either because they got rejected or did not even bother applying because the requirements were too stringent vis-a-vis the amount of assistance that was available.

Only under a third of creative MSMEs surveyed indicated that they had a BCP in place. What is even more disturbing, based on the results is that the number who indicated they had none, but were working on one, actually dropped in the second survey.

The importance of utilizing a methodical data-drive approach to business recovery was already included in the first report to UN DESA in June when the initial need became apparent after the initial survey.

However, it became clear that any such intervention needed to a simplified manner for it to be easy to understand, implemented and deployed by individuals who are not familiar with such thought processes.

In an earlier interview with Department of Trade and Industry (DTI) assistant secretary Asteria Caberte, she reported that the furniture sector, which is largely part of the creative sector, is seeing a silver lining amid the pandemic.

“People are staying longer in their homes that is why they see more refurbishing needs,” said Caberte.               

Those furniture manufacturers, who are embracing the online platforms to market their products all over the world are gaining traction at this time, Caberte explained.

Likewise, domestic market is also activating, as people are investing in home furnishings for a more comfortable and conducive environment for longer family bonding, as well as working from home.