How Can Filipinos Benefit from Filipino-Owned Businesses? - The Products Blog

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Friday, July 10, 2020

How Can Filipinos Benefit from Filipino-Owned Businesses?

There is a business secret success on how Chinese businesses in the Philippines became so successful and this is the fact that they help each other.  It is perhaps one of the reasons why Philippine-born Australia-based SAM founder and entrepreneur Rommel Santos is proposing that FILIPINO-OWNED businesses should benefit Filipinos.  We agree to this and it is key to nation building.


Filipino-Owned Businesses Should Benefit Filipinos

Cooperatives was once prevalent in the Philippines, especially in the countryside but in recent times it seems to fade away.  I believe that still, Cooperatives which promotes cooperation, sharing and unity towards achieving self-sufficiency and financial sustainability is key in the progress of not only business but the Philippines as well.

Philippine-born Australia-based SAM founder and entrepreneur Rommel Santos said that his company, is a subscription-based firm that aims to revert to the conventional method of entrepreneurial journey through sharing economy and this means that he also pushes for the creation of a cooperative wherein every subscriber automatically becomes a member of a coop.

This is a very welcome development, considering that under Republic Act 6939 that created the Cooperative Development Authority (CDA), it is clear that cooperativism is a tool for business success of Filipinos.  The law states that, "the State shall recognize cooperatives as associations organized for the economic and social betterment of their members, operating business enterprises based on mutual aid, and founded upon internationally accepted cooperative principles and practices.”

Rommel Santos, Entrepreneur and Founder of SAM

It is in this premise that Santos wants SAM subscribers covered by a cooperative. “I want Filipinos to benefit from whatever profit SAM will gain,” he says. For now, a subscriber of 300USDT gets rewarded of up to 15% monthly distributed daily to his SAM E-wallet account. It entails pre-development capital raising.

SAM Subscribers and the Cooperative Concept

SAM's concept in combining cooperatives and the digital economy is a welcome concept.  According to this concept, SAM subscribers who also becomes a member of a cooperative will have the sense of ownership or belongingness. This also creates income opportunity for Filipinos and the general public as well.

Smart Asset Managers Project Developments (SAMPD), which is based in Melbourne, Australia will soon be launching in the Philippines.  SAMPD wants to disrupt a long-going business practice of some foreign companies operating in the Philippines “where they write off or deduct their taxes by bringing out money from the Philippines to avoid paying appropriate local taxes.”

“This should not be the case. Let the benefit go where it should,” he explains. “We are not after any tax holidays, tax breaks or tax reliefs.” Santos has long announced that he wanted to contribute to bring positive changes to Filipinos’ financial state.

Want to help SAMPD in the Philippines?  Visit their Facebook page to know more and start helping the country and yourself too.

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