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    2-The Philippine Economy

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    Wilson
    The document discusses entrepreneurship and the Philippine economy. It notes that small and medium enterprises (SMEs) make up the majority of Philippine businesses and employ over half of the workforce. However, SMEs face challenges like lack of access to financing, technology, and support services. The government is promoting entrepreneurship to address these challenges and spur economic growth. It aims to provide Filipinos with the skills and resources to start businesses and sell products internationally.

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    2-The Philippine Economy

    Uploaded by

    Wilson
    328 views24 pages
    The document discusses entrepreneurship and the Philippine economy. It notes that small and medium enterprises (SMEs) make up the majority of Philippine businesses and employ over half of the workforce. However, SMEs face challenges like lack of access to financing, technology, and support services. The government is promoting entrepreneurship to address these challenges and spur economic growth. It aims to provide Filipinos with the skills and resources to start businesses and sell products internationally.

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    The document discusses entrepreneurship and the Philippine economy. It notes that small and medium enterprises (SMEs) make up the majority of Philippine businesses and employ over half of the workforce. However, SMEs face challenges like lack of access to financing, technology, and support services. The government is promoting entrepreneurship to address these challenges and spur economic growth. It aims to provide Filipinos with the skills and resources to start businesses and sell products internationally.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    328 views24 pages

    2-The Philippine Economy

    Uploaded by

    Wilson
    The document discusses entrepreneurship and the Philippine economy. It notes that small and medium enterprises (SMEs) make up the majority of Philippine businesses and employ over half of the workforce. However, SMEs face challenges like lack of access to financing, technology, and support services. The government is promoting entrepreneurship to address these challenges and spur economic growth. It aims to provide Filipinos with the skills and resources to start businesses and sell products internationally.

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    You are on page 1of 24

    THE PHILIPPINE ECONOMY:

    HOW DOES AN ECONOMY GROW?


    The Philippine Economy:
    How does an Economy Grow?
     The Philippines is a highly entrepreneurial country. The
    main reason that drives its entrepreneur spirit is its
    poverty. Small and medium-sized enterprises (SME)
    account for the largest share of Philippine
    entrepreneurs. SMEs, including micro-enterprises,
    account for 99 percent of all business establishments
    and 60 percent of the exporting firms in the Philippines.
    SMEs currently employ about 55 percent of the
    Philippine labor force and contribute 30 percent to
    total domestic volume sales.
    The Philippine Economy:
    How does an Economy Grow
     Challenges for entrepreneurs in Philippines include a
    lack of research and development, inadequate
    access to technology, financing – most entrepreneurs
    starting small business in the Philippines have
    difficulty acquiring capital, a lack of marketing
    advise and logistical problems in setting up and
    maintaining competitiveness in the community. For
    this reason, the Philippine government has identified
    the need to faster entrepreneurial spirit to jumpstart
    the lagging economy.
    The Philippine Economy:
    How does an Economy Grow?
     To overcome these challenges today, the
    government is promoting Entrepreneurship and
    giving Filipinos the proper knowledge and tools in
    starting their own businesses.

     The Philippine government sees that Entrepreneurial


    efforts will help ignite economic growth, improve
    living standards, and build a worldwide market for
    Philippine products.
    The Role of Entrepreneurship in
    Economic Development
     1. Entrepreneurship employs the various resources
    present in the economy.
    The Role of Entrepreneurship in
    Economic Development
     2. Entrepreneurship provides employment
    opportunities to various individuals.
    The Role of Entrepreneurship in
    Economic Development
     3. Entrepreneurship is the backbone of the economy.
    The Role of Entrepreneurship in
    Economic Development
     4. Entrepreneurship has the ability to innovate
    goods and services thereby makes life more
    comfortable and convenient.
    The Role of Entrepreneurship in
    Economic Development
     5. Entrepreneurship has the ability to gain
    international popularity and prestige for a country.
    The Role of Entrepreneurship in
    Economic Development
     6. Entrepreneurship has the willingness to take risks,
    risks that society will otherwise be hesitant to take.
    The Filipino Entrepreneur

    The Philippine Entrepreneurship Report 2015-2016


    The Philippine Entrepreneurship Report 2015-2016
    Societal Perception on
    Entrepreneurship
     The Philippines registered the highest societal
    perception of entrepreneurship in terms of
    entrepreneurship as a good career choice and
    media attention on entrepreneurship among
    countries in Southeast Asia in the 2015 GEM survey.

    The Philippines and GEM 2015 Global Report


    Societal Perception on
    Entrepreneurship
     In the Philippines, 76% of the survey respondent
    placed high status on entrepreneurs and 73%
    regard entrepreneurship as a good career choice.
    This is supported by the high media attention being
    given to entrepreneurship.

    The Philippines and GEM 2015 Global Report


    Societal Perception on
    Entrepreneurship

    The Philippines and GEM 2015 Global Report


    Self-Perception about
    Entrepreneurship

    The Philippines and GEM 2015 Global Report


    Self-Perception about
    Entrepreneurship

    The Philippines and GEM 2015 Global Report


    Self-Perception about
    Entrepreneurship

    The Philippines and GEM 2015 Global Report


    The Challenge to Entrepreneurs

     “Borderless World” – globalized trading system


    The Filipino entrepreneur who used to develop and market
    products locally is now faced with local competition with both
    Filipino and foreign products and services which are now
    available in the market.
    The Filipino entrepreneur has to contend with casting out the
    colonial mentality of the local market with its preferences for
    imported goods.
    Filipino entrepreneurs have the chance of developing and
    marketing export – quality products awing to the various
    incentives and support available.
    The Challenge to Entrepreneurs

     “Cyber space or information highway”


    ◦ The resurgence and constantly improving information
    technology sector is a development to watch and its benefit
    for entrepreneurs to grab and exploit.
    ◦ By exploiting the benefits of information technology, and the
    various software available in the market, one can easily
    network with the foreign markets.
    ◦ The proliferation of computers both in offices and households
    has revolutionized business operations and system, allowing
    every place practically a base for business operations.
    Entrepreneurship and Philippine
    Education
     The inclusion of entrepreneurship education at the
    secondary level. Vocational courses/subjects and
    books at the secondary level include chapters
    dealing with entrepreneurship.
     Courses leading to specialization on
    entrepreneurship or major area of study subsumed
    under the course leading to a degree in business
    management or business administration.
    Entrepreneurship and Philippine
    Education
     The Council of Management Educators (COME), comprising of
    academicians, has some way acknowledged entrepreneurship
    as part of the management education.

     The Society for Entrepreneurship Education, Inc. (SEED) has


    come into the arena of further promoting entrepreneurship
    education both in formal and non-formal sectors and a number
    of entrepreneurs themselves who continually talked it and
    unwillingly share their experiences and expertise, hoping that
    doers and believers of entrepreneurship will multiply in number.
    Entrepreneurship and Philippine
    Education
     The Commission on Higher Education (CHED) has pushed the
    formal integration of entrepreneurship education pursuant to
    Republic Act No. 7722 as embodied Memorandum Order No.
    17 (CMO # 17) series of 2005 – Curriculum Requirement for
    Bachelor of Science in Entrepreneurship (BS Entrepreneurship).

     Some schools have integrated entrepreneurship as a track or


    major subject.
    Socio-economic Benefits of
    Entrepreneurship
     Promotes self-help and employment
     Mobilize capital
     Provides taxes to economy
     Empowers individual
     Enhances national identity and pride
     Enhances competitive consciousness
     Improves quality of life
     Enhances equitable distribution of income and
    wealth.

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