It is quite disturbing to note certain stats on Philippine entrepreneurship:
l. The World Bank report on Doing Business for 20ll reports Philippines to be at l48th from amongst l83 countries surveyed.. Philippines slid down from l46 in 20l0-down by two rungs.
2. The underground economy is approximately 30% of the total economy;
3. The GEM report of 2008 on Total Activity for Entrepreneurship (authored by Dr Ciel Habito) lists 40% of the total adult population is engaged on entrepreneurship. This is need based entrepreneurship but Phil is second worldwide; lst is Peru.
Some analysis, questions:
l. Many entrepreneurs go underground (do not register) because of the red tape in registering, doing business with the government. Less companies would go underground if it were easier to do business in the Philippines.
2. There is less FDI in the Phil because that is the reality; it is difficult to do business in the Phil; Vietnam and Mynmar have better FDI record than RP;
3. There seems to be over emphasis on providing credit from government financial institutions; but a lot would be achieved if the barriers to putting up business from the government would be lessened?
4. Perhaps the present leadership would pay attention to this WB report and spend time and energy to improve Philippine ranking.
Many remarked that WB does a better job of promoting world economic growth publishing this Doing Business than by lending.
"Every generation needs a revolution an ENTREPRENEURIAL REVOLUTION."
l. The World Bank report on Doing Business for 20ll reports Philippines to be at l48th from amongst l83 countries surveyed.. Philippines slid down from l46 in 20l0-down by two rungs.
2. The underground economy is approximately 30% of the total economy;
3. The GEM report of 2008 on Total Activity for Entrepreneurship (authored by Dr Ciel Habito) lists 40% of the total adult population is engaged on entrepreneurship. This is need based entrepreneurship but Phil is second worldwide; lst is Peru.
Some analysis, questions:
l. Many entrepreneurs go underground (do not register) because of the red tape in registering, doing business with the government. Less companies would go underground if it were easier to do business in the Philippines.
2. There is less FDI in the Phil because that is the reality; it is difficult to do business in the Phil; Vietnam and Mynmar have better FDI record than RP;
3. There seems to be over emphasis on providing credit from government financial institutions; but a lot would be achieved if the barriers to putting up business from the government would be lessened?
4. Perhaps the present leadership would pay attention to this WB report and spend time and energy to improve Philippine ranking.
Many remarked that WB does a better job of promoting world economic growth publishing this Doing Business than by lending.
"Every generation needs a revolution an ENTREPRENEURIAL REVOLUTION."
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