Peddlr is a free and easy to use mobile application that aims to support the Micro, Small, and Medium Enterprisesm (MSMEs) in the Philippines. It is a smart tool to help more than 6.9 million registered and unregistered small companies run their operations more effectively through inventory management, sales reports, accounting  tools, expense tracker, and access to financial reports. 

MSMEs are the economic backbone of the Philippines. They account for 99.5 percent of all business establishments in the country, employ 63 percent of the Filipino workforce, and contribute roughly 40 percent of the country's gross domestic product (GDP).

In the Philippines, the most visible barriers for MSMEs include a lack of internet infrastructure, a lack of digital skills and funding, and policy gaps, among other things. 

The most intriguing barrier is one related to a lack of innovation in digital financial products that address the specific needs of MSMEs. After all, financial inclusion for the economy's backbone, which employs the vast majority of the population, is one of the many yet crucial steps toward a more inclusive circular economy. 

Based on the Philippine National Strategy of Financial Inclusion Plan for 2022-2028, financial inclusion is broadly defined as  “a state in which everyone, especially the vulnerable sectors, has effective access to a wide range of financial services.”  Being financially included enables individuals to access and use appropriate financial products for particular needs, such as but not limited to, building a buffer for emergencies, sending money to family in the province, starting a business, managing finances in business and livelihood, buying a house, protecting the family’s cashflow in times of disaster, health crisis, retirement, and death, or building wealth.

On the other hand, financial exclusion “disproportionately affects millions of Filipinos in the lower income classes and those who are unemployed, less educated, and belonging to the younger generation.” Financial exclusion is prevalent in the agriculture, MSME, and startup sectors as well as among informal workers. 

Given this societal problem, Peddlr app is for those who are financially excluded. Peddlr works towards helping MSMEs to facilitate business growth and livelihood opportunities for Filipinos. 

Financial awareness and inclusion are big issues. The lack of proper financial tools and poor tracking systemexacerbates this problem. As such, Peddlr provides free digital solutions to replace the manual way (i.e. pen and paper) of dealing with business finances. With easy to use technology, this mobile application can save time, increase efficiency, track expenses, improve accuracy in reporting sales and transactions, and help with inventory management. With this application, MSMEs can understand the financial performance of their establishments and make informed business decisions. The application provides tutorials with Filipino translation on how to manage finances in a simpler way. FAQs and customer support are provided in the website and the application. Moreover, Peddlr users feel more empowered as they will have the opportunity to join the Peddlr community on social media channels where they can express their concerns, support and talk with other fellow app users.

The strategic vision of Peddlr app is to strive for financial inclusion for MSMEs as the life-blood of the economy. It is a social enterprise for financial empowerment and optimism, whatever social class you belong to. It contributes to the following sustainable development goals: 

Goal 1: No poverty 

Digital financial services can help families save money, cope with economic shocks, and protect assets against risk. It fuel business models that expand access to low-cost financial services

Goal 2: Zero Hunger

Digital financial services can help families save money, cope with economic shocks, and protect assets against risk. It fuel business models that expand access to low-cost financial services

Goal 3: Good health and well-being

Digital financial services enable MSMEs to securely save their earnings to improve financial resilience.

Goal 8: Decent work and economic growth 

Digital financial services fuel low-cost business models. Digital financial services enable MSMEs to reduce the cost of handling cash and increase access to consumer financing. 

Goal 9: Industry, innovation and infrastructure 

Digital financial services can help MSMEs build payment histories and credit scores that can serve as collateral, resulting in greater access to finance. It also can lead to significant efficiency gains and increased revenue for MSMEs. 

Goal 10: Reduced inequalities

Digital financial services can increase productivity and income for rural households by connecting them to economic opportunities beyond their rural communities. It increases their financial security and broadens more opportunities. 

Sources:

Department of Trade and Industry. (2022). 2020 MSME Statistics. Retrieved April 22, 2022, from https://www.dti.gov.ph/resources/msme-statistics/

National Financial Inclusion Steering Committee. (2022). National Strategy for Financial Inclusion 2022-2028. Retrieved April 22, 2022, from https://www.bsp.gov.ph/Pages/InclusiveFinance/NSFI-2022-2028.pdf

United Nations (2018, September). United Igniting SDG Progress Through Digital Financial Inclusion. Retrieved April 22, 2022, from https://sdgs.un.org/sites/default/files/publications/2655SDG_Compendium_Digital_Financial_Inclusion_September_2018.pdf