“Pandemic businesses” or those put up during the lockdowns and succeeding months later were able to survive and even flourish thanks to Filipinos’ bayanihan spirit, according to a study released by the Manulife PHL.
“Pandemic businesses” or those put up during the lockdowns and succeeding months later were able to survive and even flourish thanks to Filipinos’spirit, according to a study released by the Manufacturers Life Insurance Co. Philippines Inc. .
“The pandemic emphasized the vital role of micro and small businesses in sustaining our local and national economies, especially in times of crisis. Manulife aims to help Filipino entrepreneurs to protect their businesses by securing their most valued asset—their employees,” Manulife PHL President and CEO Rahul Hora said.
“This enthusiastic reception from the community has led Filipino business owners to continue operating post-pandemic, as well as to invest in various financial products—with life insurance a top consideration—to mitigate risks and absorb potential economic shocks,” Manulife said. Their primary reasons for venturing into business during the pandemic were to earn income , to maintain financial stability , and to provide convenience and accessibility to people .
Among the respondents, life insurance emerged as the top financial product they bought in the last 12 months.
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