15 – Vitto, Kevin Alvinson M.

2/14/19
8:00 – 9:30 AM (TTH) – D506

Interview with Entrepreneurs

Questions
a. What are the challenges and problem/s that you encounter to your first
enterprise?
b. What are the remedies which solve those problem/s?
c. What are some of the tips and suggestions that you recommend to new or
starting entrepreneurs?
d. Do you experience dilemmas on starting an enterprise? Explain.
Respondents and Answers
1. Krisha Vitto
a. There's a lot - ranging from the operations itself (ex. broken machine) to human
resources (ex. tardy employees). I got to say the hardest to handle will be the
human resources.
b. Fix immediately the machine and buy machine parts if necessary. Implement
progressive disciplinary actions.
c. Be brave. You can do anything if you put your mind and heart into it. You will
make mistakes - that's for sure. Just make sure to make better mistakes.
d. Yes. There's a lot of struggles as a start-up. The biggest of which is that there is
no guide/help on how to do things. So it's either you’re doing it wrong or you're
doing it right. You learn as you make mistakes. Sometimes, you'll even feel
helpless and clueless but you just got to carry on.

2. Aly Vitto
a. Few customers
b. Marketing
c. Be resourceful, be patient, be creative
d. Yes. Some customers are not happy with the service/products we provide.
We listen to them, adjusted our products based on their preferences.
 Interview with Non-Entrepreneurs
Questions
a. In your own words, what is an entrepreneur?
b. In your perspective, are entrepreneurs important to the community? Why and
How?
c. Does entrepreneurship contribute to the development of the economy? Why and
how?
d. What are some of dilemmas on starting on starting an enterprise?
e. Do you plan to be an Entrepreneur someday? Why?
Respondents and Answers
1. Jervie Bandong (Marketer)
a. One that has the ability to take calculated risks.
b. Yes, because they are part of the economic cycle of one’s country.
c. Yes, because they help create employment and is able to satisfy the market’s
demand.
d. Capital and market
e. Yes, because it’s a wealth-creating venture in terms of a financial and
psychological perspective.

2. Lyra Ane Ilagan (Psychotherapist)

a. Entrepreneurs are calculated risk-takers that give benefit to the community.
b. Yes, entrepreneurs are important to the community because they serve the
community by making it a better place.
c. Entrepreneurship contribute to the development of the economy because they
give back to people.
d. One of the dilemmas on starting an enterprise is that they sometimes lack
capital in building up a business.
e. Yes, because I believe that I can make the world a better place.

3. Mikhaela Marie Oco (Psychotherapist)

a. It focuses on innovating products that makes a mark on the business industry.
b. Yes, because it helps develop or improve a community.
c. Yes, with the use of new products (since the products of businesses
progressively develops).
d. Competitions are everywhere
e. Yes, because I want to have a business that can help a community at the
same time satisfy the needs of consumers.
4. Axele Bayombong (Student)
a. An Entrepreneur is a self-employed person.
b. Yes, because new and cheaper products become available.
c. Yes, because they also pay VAT.
d. Will the product be accepted by consumers?
e. No, I don’t think it is within my capabilities.

5. Elan Isabel Celis (Student)

a. An entrepreneur is someone who operates a business
b. Yes, because they can change the way we live and work.
c. Yes, they contribute to the society by leading the way and finding innovative
solutions to practical & social issues.
d. Timing is always an issue for an entrepreneur because it always makes you
think when is the best time to launch a start-up for your business.
e. No, because it’s something I don’t see myself in & it’s not in line with my
profession.

6. Charise Gail Coronel (Student)

a. Entrepreneurs are calculated risk takers and the prime movers of innovation.
b. For me entrepreneurs play an important role in our community since they are
able to change our standard way of living.
c. For me entrepreneurs play an important role in our community since they are
able to change our standard way of living.
d. Starting an enterprise has multiple dilemmas like for example, the innovation
of the product (how are you going to make your product unique from the
others?); the resources that you will be needing may not be sufficient (scarce
resources).
e. Yes, since I would like to transform lives, elevate expectations and be able to
uphold development within our country.

7. Ibe, Julia Alexandra P.

a. A person who organizes a business. Also, this person is a risk taker.
b. You consider yourself an entrepreneur if you are a risk taker when it comes
to business and investments. The more businesses, the more our country's
economic stability will grow.
c. Yes, because increase numbers of businesses will result to economic growth
in a country
d. Financial capability, external and internal weaknesses and threats
e. Yes, I want to invest in stocks and long term investments that can help my
future financially.
Evidences
 Composition of Micro, Small and Medium Enterprises (MSMEs)
Definition of MSMEs
Micro, small, and medium enterprises (MSMEs) are defined as any business
activity/enterprise engaged in industry, agri-business/services, whether single
proprietorship, cooperative, partnership, or corporation whose total assets, inclusive of
those arising from loans but exclusive of the land on which the particular business
entity's office, plant and equipment are situated.
Categories By Asset Size
Micro Below 3 Million pesos
Small Php 3,000,001 – Php 15,000,000
Medium Php 15,000,001 – Php 100,000,000
Large Above 100 Million pesos
Contributions of MSMEs to the economy
1. MSMEs contribute to the creation of wealth, employment, and income
generation, both in rural and urban areas, thus, ensuring a more equitable
income distribution.
2. MSMEs provides the economy with a continuous supply of ideas, skills, and
innovations necessary to promote competition and the efficient allocation of
scarce resources.
3. As of 2017, the MSME sector accounted for about 99.56% of the registered
businesses in the country by which 62.8% of the labor force earn a living. Around
60% of all exporters come from MSMEs as well
Number of Establishments
As of 2017 count, there are 924,721 business enterprises operating in the Philippines.
Of these, 99.56% (920,677) are micro, small, and medium enterprises (MSMEs) and the
remaining 0.44% (4,044) are large enterprises. Of the total number of MSMEs, 89.63%
(828,436) are micro enterprises, 9.56% (88,412) are small enterprises, and 0.41%
(3,829) are medium enterprises.
Employment
MSMEs generated a total of 4,922,251 jobs in 2017 versus 2,909,838 for the large
enterprises. This indicates that MSMEs contributed almost 62.9% of the total jobs
generated by all types of business establishments that year. Of these, 30.3% or
2,369,748 jobs were generated by micro enterprises; 25.9% or 2,024,470 by small
enterprises; and 6.7% or 528,033 by medium enterprises.
Sources: http://www.microfinancecouncil.org/wp-content/uploads/2017/08/Empowering-
MSMEs_Alice-Opena.pdf
https://www.dti.gov.ph/businesses/msmes/msme-resources/msme-statistics