Study Shows That More Filipinos Are Interested in Entrepreneurship

According professor Ranjit Rye of OCTA Research, it is reported that over 81% of adults in the Philippines are interested in going into business “granting that they had enough know how to do so.”

The study shows that micro, small and medium enterprises (MSMEs) make up over 99.9% of registered businesses in the Philippines and a growing number are becoming more interested.

The latest survey results show that over 1,200 respondents 18 years and older showed that “desire remains high at 80 percent among classes A, B, C and D, and 74 percent from class E.”

The report likewise indicated that about 53% of the respondents knew of Joey Concepcion and the work done at Go Negosyo.

“I am glad that the work we have done for the last 17 years continues to bear fruit. The recent survey by our friends at OCTA Research found that a big percentage of Filipinos are willing to go into business, and that more than half of the respondents are aware of the advocacy that I and the Go Negosyo team have been promoting,” said Concepcion.

“It is so important to build the MSME’s optimism and the willingness to engage in the economy,”

Go Negosyo is a nonprofit movement that was founded in 2005 and is seen as a supporter or partner of MSMEs by over 52% of adult Filipinos or known as a teacher that trains on running a business by over 47%.

Concepcion says that “There are about 26 million Filipinos still living in poverty, unable to meet their basic food and non-food needs. This represents nearly a fourth of our entire population,”

“By providing access to the three M’s essential in successful entrepreneurship, namely, mentoring, and access to markets, and money or capital, we can increase the number of Filipinos who can build successful businesses, and in turn employ more of our countrymen,”

Source: Business Mirror