Pinoy: Are You Up To The Entrepreneurial Challenge?
| Posted by Carina Roncesvalles in Business Articles,Business News,Business Tips on 7th March 2007 |
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By Carina Roncesvalles
Much has been said that entrepreneurs would wage the strongest battle against poverty and unemployment in the Philippines. But are Filipinos up to the challenge of standing on their own feet and putting the entrepreneurial dreams into reality?
Magnegosyo.com polled academicians to give their insights on this trail of mind, and at the same time give business advice to budding Pinoy entrepreneurs.
The Filipino mindset has been fixed on being an employee with the secured monthly salary. Nonetheless, the entrepreneurial spirit creeps in. This window of hope is a welcome development, as Filipino entrepreneurs will undoubtedly move the Philippines forward.
The common direction to work for an established company after graudation is implanted by most parents, said Emilio Macasaet III who teaches “Growing Small Business” at the De La Salle University’s (DLSU) Graduate School of Business.
“The general mindset is still on being an employee with a stable income. Parents still tell their children to get good grades so they can land good jobs in bigger companies or work abroad. This mantra is repeated when they go to school,” Macasaet said.
He, however, pointed out that this mindset slowly turns around. “I observe a general shift in the mindset of young people coming from middle class families. They are hungry for material success and believe that employment will not take them there. We see more and more young entrepreneurs now trying out new concepts in doing business.”
Dennis Berino who also teaches at the DLSU Graduate School of Business said the road to entrepreneurship is slowly being tracked by Filipinos.
“I believe there has been a shift towards looking at entrepreneurship as an alternative career. There are a lot more schools now offering undergraduate as well as graduate programs in entrepreneurship and there are a lot more organizations supporting entrepreneurial training, support and encouragement. It might take several more years before a critical mass is reached but the direction is towards that already,” Berino said.
He noted that the information campaign and availability of funding sources contributed to the awakening of the Filipinos’ entrepreneurial minds. “Schools encourage students to seriously look at entrepreneurship after graduation. Concerned government agencies partner with private initiatives and banks are channeling part of their funds to support activities in this area.
“Development savings and loans associations, rural banks have been the traditional sources of funds for small business. Now, there are a lot more micro-enterprise companies put up solely for the micro-enterprise which give better opportunities for the micro-entrepreneur for fund source.”
more Pinoy Entrepreneurial Challenges >>
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About Carina Roncesvalles: Carina Roncesvalles is a Journalism graduate from the University of the Philippines in Diliman. Carina has worked as a Reporter for BusinessWorld. She is nowworking as a full-time writer for a Makati-based public relations company.
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Very Interesting Article.. Thanks for sharing…