Micro, small and medium enterprises (MSMEs) make up 99 percent of businesses nationwide and employ nearly 65 percent of the workforce, yet many face mounting threats from natural disasters, rising costs and cash flow pressures.
As the country marks MSME Development Month this July, AXA Philippines is advocating business protection as an essential investment in resilience and continuity.
Beyond recovery
Located along the Pacific Ring of Fire and within the typhoon belt, the Philippines regularly experiences earthquakes, volcanic eruptions and powerful storms that can disrupt business operations with little warning.
For many entrepreneurs, the consequences extend beyond damaged property or lost income. Temporary closures can interrupt livelihoods, affect employees, and delay services that communities rely on.
AXA Philippines said preparing for unexpected disruptions means more than protecting physical assets. It also helps business owners continue supporting workers, customers and their communities even during difficult times.
The insurer underscored this message in the final installment of its Everyday Protectors campaign, which follows Lucing, a bakery owner whose shop is damaged by a powerful typhoon.
Despite the devastation, Lucing and her staff continue distributing bread to residents in need while working toward reopening their business, illustrating how preparedness can help enterprises recover and continue serving their communities.
The campaign also reflects a broader concern among small businesses. According to the Philippine Institute for Development Studies, about one in four small and medium enterprises fail to reopen after major disasters.
Protection options
To help businesses recover more quickly from unforeseen events, AXA offers MSME Secure, an insurance solution designed for small and medium enterprises.
The coverage includes protection against property damage and spoiled inventory resulting from fire, typhoons, floods and other covered calamities.
It also provides protection against burglary, employee fraud and the loss of business funds due to theft or robbery, whether outside business premises, in transit or while under the custody of employees or messengers.
The policy also covers legal liabilities and related expenses arising from incidents involving customers or other third parties.
Recognizing that businesses have varying needs and budgets, AXA also offers MSME Secure Lite for basic coverage and MSME Secure Max for more comprehensive protection.
The insurer said providing flexible protection allows entrepreneurs to choose coverage suited to the size and requirements of their businesses.
Building resilience
AXA said helping businesses recover quickly after disruptions enables entrepreneurs to focus on rebuilding operations, preserving jobs and continuing to contribute to local economies.
As MSMEs continue to drive economic growth and employment, strengthening business resilience is becoming increasingly important in ensuring they can withstand unexpected setbacks and continue supporting the communities that depend on them. —Ed: Corrie S. Narisma
