From Yahoo Finance: 2025-05-28 07:10:00

A recent survey revealed Filipino small businesses lag in digital adoption compared to regional peers. Despite positive outlooks, only 62% reported earning over 10% of revenue from online sales, below the 67% average. While 74% used digital payment tech, only 13% sought IT advice, impacting growth potential.

SMEs investing in technology saw improved profitability in 2024, with 69% reporting benefits exceeding the regional average of 56%. Despite digital challenges, Filipino SMEs show strong growth dynamics, with 77% reporting growth in 2024 and 89% expecting expansion in 2025, driven by customer-centric focus.

In 2024, Filipino businesses saw growth, with 41% increasing their workforce and 57% planning to expand employee base in 2025. Financial access remains a challenge, as 65% sought external finance, but only 22% found it easy to secure funding due to rising costs as a barrier to growth.

Looking ahead, 28% of Filipino SMEs anticipate strong growth from overseas markets in 2025, the highest expectation in three years. Despite digital adoption challenges, Filipino SMEs thrive due to a customer-centric approach and strong entrepreneurialism driven by the young population.

Read more: Filipino SMEs lag regional counterparts in digital adoption