Cebu City – The sari-sari store (neighborhood store) business in the country has remained resilient despite the difficult economic climate in the Philippines, an industry leader said.

“The impact of the economic crisis to the sari-sari store sector depends on their locations. For those who operate near manufacturing companies, factories, and export zones wherein workers are experiencing cutbacks on workload, they might be affected and hit by the recession.

“For those who are in towns they still continue to manage,” said Robert Go, president and chief executive officer of Prince Warehouse Club Inc., a Cebu-grown warehouse chain selling wholesale and retail food and non-food items.

Go said while there is no substantial growth for this backyard business, this micro entrepreneur sector has not been hardly hit by the crisis, although a slight contraction has been felt.

“Sari-sari stores sell a variety of items and most are immediate needs of the community like something to eat and consume so people go there daily to buy,” he explained, adding that since these micro entrepreneurs sell “sachet-sized” products that are affordable to retail consumers, they have remained resilient.

“They provide essential and basic items which are fast moving considering that people have to eat and they need most of these products on a daily basis so they still continue to generate sales,” he told a press conference Wednesday.

Go noted that the challenges faced by “sari-sari” storeowners include the need for micro financing and having to brush up on their skills in accounting, inventory, and stocking.