Filipino Entrepreneur

• During the early stages of entrepreneurial activities in the Philippines, there are more females than males.
• In the more advanced stages of entrepreneurial activities, males tend to be more resilient in staying in business, as females withdraw at the intermediate stage.
• Majority of those engaged in early stage entrepreneurial activities in the Philippines are in consumer services including retail, food, personal beauty care, appliance and electronic repair, cleaning services, and laundry services.
• A number of Filipino entrepreneurs are also engaged in manufacturing, extractive enterprises, and business services.
• Business services include advertising, architecture, consultancy, microfinance, and others.
• Many of these establishments are operated within the households, implying a limited scale of operation.
• Given the extent of youth unemployment in the country, entrepreneurship becomes a viable employment option for the young.
• Almost half of the entrepreneurs in the early stage development have finished secondary schools.
• Entrepreneurs that own firms at the mature stage of entrepreneurship have high levels of education.
• Like other entrepreneurs in developing countries, a number of Filipinos go into entrepreneurship because they see it as an opportunity for income creation and employment.
• They get into business enterprises because of their apparent capabilities to undertake entrepreneurial activities, the prestige associated with entrepreneurship, and the positive exposure given by various forms of media to successful entrepreneurs.
• This attitude is tempered by business failure.
• Reasons for business failure include unprofitable business, personal reasons such as illnesses and death in the family, maternal responsibilities, financing problems, and shift to formal employment.