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The document discusses several points about entrepreneurship in the Philippines: 1) A report found that the Philippines has a strong entrepreneurship ecosystem and culture according to measures like entrepreneurial intentions, perceptions of opportunities, and fear of failure. 2) Young Filipinos are motivated to start businesses but often lack practical experience, problem-solving skills, and business know-how, leading many startups to fail or stagnate. 3) Definitions of entrepreneurs and small businesses vary but often refer to independently owned and managed businesses on a small scale with limited resources.

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John Lesther Pabilonia
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545 views3 pages

RRL

The document discusses several points about entrepreneurship in the Philippines: 1) A report found that the Philippines has a strong entrepreneurship ecosystem and culture according to measures like entrepreneurial intentions, perceptions of opportunities, and fear of failure. 2) Young Filipinos are motivated to start businesses but often lack practical experience, problem-solving skills, and business know-how, leading many startups to fail or stagnate. 3) Definitions of entrepreneurs and small businesses vary but often refer to independently owned and managed businesses on a small scale with limited resources.

Uploaded by

John Lesther Pabilonia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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According to Nathan Rauh-Bieri, Global Entrepreneurship Monitor

(GEM) had reported a report about a thick amount of ecosystem

entrepreneurship was found in the Philippines. The report was divided into

two of the main entrepreneurial activities mainly the social values of the

country towards entrepreneurship and the individual’s demographic

characteristics and motivations. It is said that among ASEAN (Association of

Southeast Asian Nations) countries, have the most thriving entrepreneurial

intentions with alleged capabilities and opportunities. Filipinos considers

entrepreneurship a good career choice supported in society. Moreover,

Filipinos have a lower fear of failure than in other countries. These are some

of the positive effects paired with the country’s economic growth.

Young Filipinos may be stimulated to try entrepreneurship. They may

even have tertiary education. But while these are important qualities, they do

not teach the challenges associated with entrepreneurship to let them learn

from their mistakes. Lacking practice at entrepreneurial know-how, problem-

solving, or imagination, too many fledgling entrepreneurs watch their

enterprises either fail or truncate. (Nathan Rauh-Bieri 2016)


 
It is still difficult to give a standard and clear definition of what characterizes an

entrepreneur. Entrepreneurs can just use a small-scale business enterprise to climb up the

ladder of success. We can call it small business. The definition of small business to

entrepreneurs is of a “small business is a small – scale independent firm usually

managed, funded and operated by its owners and whose staff size, financial

resources and assets are comparatively limited in scale” (Shaper and Volery

2007)

According to the article by K. L. SHARMA, Entrepreneur identifies three

perspectives on entrepreneurship development. The community psyche, formal-

institutional and environmental developments. This scrutinizes their empirical validity

in the context of the entrepreneurs. Only the third perspective is seen to be appropriate

to the study. Entrepreneurs do not vary in terms of their community solidarity, business

psyche, management style and performance. Formal institutions Do not find success

by teaching. Rather, it is determined by factors as an intersectoral competition and the

government’s economic policies. Therefore, it suggests that apart from the weight on
management and motivations, institutes should concentrate on the growth of the

entrepreneurial services to the environment.

BIBLIOGRAPHY

https://www.jstor.org/stable/23898278?seq=1

https://www.scribd.com/document/154405158/FINAL-RRL

https://wdi.umich.edu/wp-content/uploads/DEVELOPING-FILIPINO-

ENTREPRENEURS-January-3-2017.pdf

Filipino microbusinesses felt the brunt of the pandemic with 81% of Pinoys surveyed

reporting a reduction in revenues. Respondents also had to deal with temporary closures

brought by the various levels of quarantines imposed since March this

GoDaddy Global Survey 2020


year. 

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