Social Enterprises continue to Grow in the PH, Comprise 5% of employment

According to a study by ADB, the Philippines had 164,473 social enterprises as of July 2019. This number signifies that 17% of total registered businesses were social enterprises. Additionally, 71% of social enterprises were MSMEs, 23& are NGOs, and 6% are coops.

Social enterprises put a larger emphasis on developing the community rather than increasing profits, this emphasis more easily lends itself to promoting smaller businesses and suppliers. The Philippine Social Enterprise Network (PhilSEN) recently published a study with support from the EU and UN Economic Social Commission. The study showed that social enterprises have the potential to generate employment, alleviate poverty, and improve local communities. These businesses favor the inclusion of vulnerable and marginalized communities, while also providing a platform for economic participation.

A survey that includes 206 Philippine social enterprises found that these businesses make up 5% of the country’s employment, further support women in business, and help alleviate issues in the agricultural sector. Additionally, the number of social enterprises has almost tripled over the last decade.

The publication Reaching the Farthest First is a significant development in terms of providing insight into the contributions of social enterprises in the Philippines. The results were derived from a survey of 206 social enterprises nationwide. With these quantitative estimates and their economic and social contributions, it is clear that government should respond to this movement.

Source: British Council Philippines, Philstar