Entrepreneurship In The Philippines Essay

The Philippines is a advancedly entrepreneurial pastoral. The main reason that drives its entrepreneur spirit is its leanness. Sm every last(predicate) and medium-sized enterprises (SME) score for the largest sh argon of Philippine entrepreneurs. SMEs, including micro-enterprises, account for 99 portion of all crinkle establishments and 60 percent of the exporting firms in the Philippines. SMEs currently go for about 55 percent of the Philippine toil military capability and lead 30 percent to natural domestic intensity level sales.Women hold significant leadership positions in national and local government, universities, business corporations and family business enterprises in the Philippines. 51% of entrepreneurs in Philippines are female. Challenges for entrepreneurs in Philippines accept a lack of research and development, inadequate access to technology, financing or so entrepreneurs starting small business in the Philippines have difficulty acquiring capital, a lac k of marketing advice and logistical problems.The Philippines government sees that Entrepreneurial efforts pass on help ignite economic growth, improve living standards, and build a worldwide market for Philippine products so they welcome foreign investors and put up incentive and support by lowering tariffs, opening its entire economy, including world ownership and free trade. Entrepreneurs are the backbone of our economy. The Philippines is an entrepreneurial region. Small and medium-sized enterprises (SME), including micro-enterprises, account for 99 percent of all business establishments and 60 percent of the exporting firms in the Philippines.According to the segment of Trade and Industry, SMEs currently employ about 55 percent of the Philippine labor force and contribute 30 percent to total domestic sales volume. Among the current problems that Filipino entrepreneurs encounter nowadays are the inadequate access to technology, financing capital, marketing advice and log istical problems in shot up and maintaining their competitiveness in their community. For this reason, the Philippine government has identified the inquire to foster entrepreneurial spirit to stand out our lagging economy.To and emphasize the importance of developing entrepreneurship education, a new study by the Center for Asia Pacific Studies reveals, out of every blow children enrol take every year, 66 for pass away complete elementary education, 42 testament finish high school and scarcely 14 will suck up a college degree. A study by Smart Communications adds, tho 7. 7% of graduates get employed. This means that out of 100 children that goes to school, only one will end up getting a job.This has led LETS GO to ask What happens to the rest? Students who do non graduate or can non find decent employment in the country usually fall into the trap of joining the unemployed population, or recourse to dealing with illegal drugs and crime as a means of living. The scarc eness of jobs has further contributed to the exodus of skilled workers abroad, where 2,000 Filipinos leave the country everyday to taste higher income and greater opportunities in career advancement.With this in mind, LETS GO gestates that a viable solution to overcome these challenges today is by promoting Entrepreneurship and adult Filipinos the proper knowledge and withalls in start their own businesses. Entrepreneurs are the backbone of our economy. The Philippines is an entrepreneurial country. Small and medium-sized enterprises (SME), including micro-enterprises, account for 99 percent of all business establishments and 60 percent of the exporting firms in the Philippines.According to the Department of Trade and Industry, SMEs currently employ about 55 percent of the Philippine labor force and contribute 30 percent to total domestic sales volume. Among the current problems that Filipino entrepreneurs encounter today are the inadequate access to technology, financing capita l, marketing advice and logistical problems in setting up and maintaining their competitiveness in their community. For this reason, the Philippine government has identified the need to foster entrepreneurial spirit to jump start our lagging economy.To further emphasize the importance of developing entrepreneurship education, a recent study by the Center for Asia Pacific Studies reveals, out of every 100 children enrolled every year, 66 will complete elementary education, 42 will finish high school and only 14 will earn a college degree. A study by Smart Communications adds, only 7. 7% of graduates get employed. This means that out of 100 children that goes to school, only one will end up getting a ob. What happens to the rest? Students who do not graduate or cannot find decent employment in the country usually fall into the trap of joining the unemployed population, or regress to dealing with illegal drugs and crime as a means of living. The scarcity of jobs has further contribut ed to the exodus of skilled workers abroad, where 2,000 Filipinos leave the country everyday to sample higher income and greater opportunities in career advancement.I therefore believe that a viable solution to overcome these challenges today is by promoting Entrepreneurship and giving Filipinos the proper knowledge and tools in start their own businesses. What better senesce to start planting the seeds of entrepreneurial knowledge and skills than among the youth. One is never too Young to be an Entrepreneur The importance of developing an innovative and entrepreneurial culture is a crucial part of the Philippines developed state future. Entrepreneurship today leads to more business, more job opportunities and better quality of life.Starting and trail a business can be a real plectron for young people, offering an alternative means of achieving both(prenominal) financial and ain independence. There are 24 million youth in the Philippines today and counting. Of these 24 millio n, 39% or 9. 36M are part of the labor force while 40% or 9. 6M are living below the poverty line. Encouraging young people to consider business ownership as a viable option is becoming increasingly important apt(p) the current trend towards globalization. Supporting youth entrepreneurship can benefit both the Filipino Youth and the economy.