GLOBAL ENTREPRENEURSHIP MONITOR
For the first time in the country, the Philippine Center for Entrepreneurship conducted an entrepreneurial survey as part of its commitment to thought leadership and bringing to fore the world’s best practices, raise the profile of discussions on entrepreneurship development and contribute to shaping policy.
With the help of the Presidential Social Fund and the National Livelihood Support Fund, we embarked on this unique study, a brainchild of Babson College and the London Business School, which profiles the entrepreneurial landscape of a country using a defined set of measurements and aims to uncover factors leading to appropriate levels of entrepreneurship.
The study, which is part of the Global Entrepreneurship Monitor Research, is distinct as it offers a different perspective in evaluating and addressing the needs of businesses at different stages of the life cycle. It also gives the opportunity of benchmarking our results with the 42 members of the consortium, which represent two-thirds of the world’s population.
Unlike past studies on Philippine entrepreneurship, this has been the first one to consider a population-based survey, which included randomly selected 2,000 adult Filipinos nationwide. The survey had positive and encouraging results as four out of 10 Filipinos now have businesses and many are looking at business opportunities as the way to go. Results also revealed that Filipinos are clearly also bullish about entrepreneurship.
But there is still a lot of room for improvement. Many of existing businesses are still microenterprises and a lot of them still rely on old technology. Results allow for reassessment of existing efforts to improve and grow enterprises. The survey also yielded rich data that can be further studied for pursuing special policy focus.
To learn more about GEM and the results, download the report.
Copyright 2007 by Imelda J. Madarang, Cielito F. Habito and the Philippine Center for Entrepreneurship
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