BES

• Categories of Micro, Small, and Medium Enterprises (MSMEs)

  • Micro: less than 10 employees
  • Small: 10 to 99 employees
  • Medium: 100 to 199 employees
• There are 1,080,810 MSMEs in the Philippines
• MSMEs are regarded as the engine of economic growth
• Characteristics of the New Generation of Successful Entrepreneurs

  • Act quickly
  • Independent
  • Self-confident
  • Determination & Perseverance
  • Motivated
  • Creative
  • Keep Updated with Technology
  • Goal-oriented
• Entrepreneurship can be exciting and promising, but reality tells us that it is difficult to run a business
• During the pandemic, two-thirds of firms surveyed immediately suspended business activity
• During the pandemic, the smaller the firm size, the lower the share of businesses remaining open
• During the pandemic, wholesale and retail trade was the sector most adversely affected by the Enhanced Community Quarantine (ECQ)
• During the pandemic, half of the firms temporarily closed were based in the National Capital Region (NCR)
• During the pandemic, one-third of enterprises already had no cash and savings to cover operations
• During the pandemic, the most significant financial problem for enterprises was paying staff wages and social security charges
• During the pandemic, microenterprises faced the most serious shortage of working capital
• During the pandemic, large firms had sufficient liquidity to survive for over 6 months
• Many small businesses do not have an emergency or contingency fund
• During the pandemic, different brands selling instant noodles saw large sales spikes
• Fortune Business Insight: '“The instant ramen boom is now worth tens of billions of dollars.”'
• In 2022, expenditure on food and non-alcoholic beverages was the largest spending category in the Philippines
• In 2022, expenditure on leisure and recreation is predicted to grow at the fastest pace over the forecast period
• Post Pandemic Growth is predicted to be 6%
• The "Creator Economy" brings in a new wave of microbusinesses in Asia Pacific (APAC)
• Gen Z is poised to become the most entrepreneurial generation ever
• Are Entrepreneurs Born or Made?
• Entrepreneurs and their Countries

  • Lim Bee Huat - Singapore
  • Melanie Perkins - Australia
  • Jose Magsaysay Jr. - Philippines
• Lim Bee Huat was regarded as the King of Kopitiam in Singapore
• Lim Bee Huat was born in 1952 in Bukit Ho Swee
• Lim Bee Huat plucked fruits from the trees on Orchard Road when he was 6 years old
• Lim Bee Huat wanted to work for a living at the age of 8
• Lim Bee Huat moved downtown to work as a "Kopikia" or a Coffee Boy at the age of 9
• Lim Bee Huat tried learning everything about the Kopitiam business and other vending trades
• Lim Bee Huat left home to live in the h
• Jose Magsaysay Jr. is the Founder of Potato Corner, known as the "King of Kiosks"
• Jose Magsaysay Jr. received the Entrepreneur Award of the Year
• Jose Magsaysay Jr.'s journey


  1. Started as a part-time dishwasher and janitor at Wendy's in 1983

  2. Worked his way to the top of the company, eventually becoming a board of director

  3. Started Potato Corner with the idea of flavored fries

  4. Opened the first branch at SM Megamall in October 1992

  5. Expanded to 70 stores in 2 years and to a hundred more in 1997

  6. Currently has 1,100 stores in the Philippines and 200 stores overseas
• Potato Corner was hard hit during the Asian crisis


  Unique selling proposition of low-cost products helped them survive
• Potato Corner was affected by the pandemic

  Adopted different ways to sustain their operation, such as offering at-home packs and allowing employees to sell fries
• Jose Magsaysay Jr.: '"To those who do have the resources to pivot, stay at your core."'
• Melanie Perkins is the CEO and Co-Founder of Canva
• Melanie Perkins is Australia's youngest Billionaire
• Melanie Perkins was a part-time design teacher in Perth, Australia
• Melanie Perkins realized the problem with design tools being complex and difficult to navigate