News | February 15, 2023
Sands works with a wide network of local suppliers and partners in its regions, including many small and medium-sized enterprises (SMEs). In 2021, Sands’ support for local businesses comprised 77% of global spending across the company, according to the company’s latest ESG report. Not only are these local businesses integral to Sands’ resorts – they are vital to creating a flourishing local economy and business environment in the company’s communities.
That’s why Sands has created a comprehensive suite of initiatives to help accelerate the success of local business and SME partners. These programs span the three pillars of the company’s corporate responsibility platform – People, Communities and Planet. This holistic commitment helps ensure Sands’ support for local businesses makes an impact.
People: Training, Development and Business Support
A range of partner and business development programs help local businesses and SMEs improve their capabilities and pursue growth. A key initiative is Sands China’s F.I.T. program in Macao. The F.I.T program has three focus areas: financial assistance, such as advance payments on purchase orders for SMEs undergoing financial hardship; invitational matching to help SMEs access new procurement opportunities through trade shows, events and other platforms; and training and development to build capability for working with large-scale enterprises and international companies, including navigating the intricacies of accounting and payment systems and satisfying supply chain expectations. Sands China’s key supplier training program is the Sands Procurement Academy, which provides comprehensive training for SMEs, microenterprises, Macao young entrepreneurs and “Made-in-Macao” businesses.
Communities: Local Business Initiatives
Beyond targeted partner support and programs, Sands also works with its communities to promote local businesses. The most prominent example is the Sands Shopping Carnival, which Sands China launched in conjunction with the Macao Chamber of Commerce in 2020 in response to the pandemic’s business impact on retailers and SMEs. Based on its success, the three-day mass shopping event has now become an annual initiative – and the largest sales event in Macao – providing a forum for SMEs and local businesses to promote their products and services. Sands provides exhibitor space at no cost, and participants retain all proceeds. In 2022, the Sands Shopping Carnival welcomed more than 100,000 visitors.
Planet: Environmental Stewardship
Sands extends its environmental commitment through the company’s supply chain by patronizing and incentivizing local businesses that focus on sustainable offerings, such as eco-friendly packaging and sustainable seafood.
“Throughout our company, we have instilled a responsibility for creating and developing a strong network of local, SME and diverse partners because they are integral to our business and the health of our regions,” said Norbert Riezler, senior vice president and chief procurement officer. “We view our responsibility to promote mutual success with our local business communities among our company’s top priorities.”
To learn more about how Sands provides support for local businesses, read the company’s latest ESG report: https://www.sands.com/content/uploads/2022/04/LVSC_ESG-Report-2021_spreads.pdf