ENTREP

• Origins in Entrepreneurship


  • Richard Cantillon
  • John Baptiste Say
  • Adam Smith
  • Joseph Alois Schumpeter
• Richard Cantillon


  An economist who in 1775 introduced the concept of entrepreneurship and observed the activities of merchants, farmers, and craftsmen to develop early theories on entrepreneurship
• John Baptiste Say


  A French businessman who described how the entrepreneur is involved in the exchange of goods for money
• Adam Smith


  A Scottish economist who wrote about free enterprise in his book "Wealth of Nations" in 1776 and talked about the "invisible hand" theory which influenced the economic system
• Joseph Alois Schumpeter


  An Austrian-American economist who was one of the first to study entrepreneurs and the impact of entrepreneurial capitalism on society. He believed that innovation and creativeness distinguished entrepreneurs from other business people and that innovation and entrepreneurship are closely intertwined
• Entrepreneurship in the Philippines

  • Caregiving NC II
  • TESDA Electronic Courses
  • OFW
• President Gloria Macapagal-Arroyo issued E.O. 470 in 2005 which enhanced the program of "establishing the Youth Entrepreneurship Program…" and enjoined the active participation of the private business sector
• Components of the Youth Entrepreneurship Program

  • Entrepreneurship Education
  • Credit Assistance and Lending
  • Role Modeling and Mentoring
  • Business Plan Development and Training
  • Market Syndication and Linkaging
  • Business Information Network
• Go Negosyo


  A nationwide movement that promotes entrepreneurship as a solution to poverty and seeks to bring together different people and resources to create dynamic Filipino entrepreneurs and instill a thriving entrepreneurial culture
• Entrepreneurship Models


  • Henry Sy (SM)
  • Julie Gandionco (Julie's Bakeshop)
  • Tony Tan Caktiong (Jollibee Foods)
  • Eugenio Gabriel "Gabby" L. López III (ABS-CBN Corporation)
• We opened our Thai Restaurant last year, October 2017. It is located at the Ground Floor of Soho Mall, B. Rodriguez St. Since then, we also opened satellite shops at Sugbo Mercado, IT Park and Booth Camp near USC Main.
• Reason for starting the business

  Our family lived in Thailand for 20 years before we came back for good. Our daughter who was born and raised there had a hard time adjusting to the Filipino dishes. So we tried all the Thai restaurants here in Cebu but not one suited our taste buds. So we came up with an idea of putting up our own Thai restaurant so we can develop the dishes to how we remember Thai food taste.
• Main attitude needed for entrepreneurship

  Perseverance. Putting up a business entails so many challenges but one has to persevere in order to thrive. Otherwise, when trials come up, it is easy for someone to give up.
• Yes, we took a deep plunge when we put up the business. All our savings were invested in this venture. Being educators, we did not have a background in business. All we had was our love for Thai food that we would like to share to our fellow Cebuanos. Up to this time, we are still struggling to make a name and thus, we have not reaped the fruits of our investments yet. But we have high hopes that we will get there in God's time.
• Advice for starting a business

  Study all the possibilities. The location is very important. Marketing is also a priority in order to reach out to various clients. Lastly, one has to be passionate about the business so whatever trials and challenges come your way, one will always find ways to keep it afloat.
• Character Traits Common to Successful Entrepreneurs

  • Opportunity seeker
  • Committed
  • Persistent
  • Efficient and quality-oriented
  • Risk-taker (Aggressive, Moderate, Conservative)
  • Goal-setter
  • Information seeker
  • Systematic in planning and monitoring
  • Persuasive and Positive Networker
  • Self-confidence
• The term ENTREPRENEURSHIP is commonly misunderstood. It is often equated with the activities of ordinary small business.
• Common Misconceptions about Entrepreneurship

  • Entrepreneurship applies only to manufacturing businesses
  • Entrepreneurship applies only to small businesses
  • Entrepreneurship applies mostly to persons with good educational background in business courses
  • Entrepreneurship applies only to a good economy
  • Entrepreneurship is simply opening a small business
• Contributions of Entrepreneurship


  • To Filipino people
  • To the Philippine economy
  • To the local community
• Theories on Entrepreneurship


  • Innovation Theory
  • Keynesian Theory
  • Alfred Marshall Theory
  • Risk and uncertainty-bearing Theory
  • Weber's sociological Theory
  • Kaldor's Technological Theory
  • Leibenstein's Gap-filling Theory
  • Kirzner's Learning-alertness Theory
• Innovation Theory


  Joseph Schumpeter considers innovation as the primary factor affecting development
• Keynesian Theory


  John Maynard Keynes attributes economic growth, especially during depression, to the government
• Alfred Marshall Theory


  It generalizes that the organization plays the most significant role among the different factors of production
• Risk and uncertainty-bearing Theory


  Frank Hyneman Knight states that an entrepreneur faces the risk of uncertainty in the process of connecting the supplier and the buyer
• Weber's Sociological Theory


  The sociological theory of Weber asserts that social cultures have significant contributions to entrepreneurship
• Kaldor's Technological Theory


  The technological theory of Kaldor gives importance to the advancement of technology as an element of production
• Leibenstein's Gap-filling Theory


  It advocates that entrepreneurship fills the gap in any economic activity
• Kirzner's Learning-alertness Theory


  It focuses on learning and alertness as the primary attributes of entrepreneurship