Economic Development and Entrepreneurship

2 factors that hinder our growth as a nation

1. Poverty

*Unjust distribution of wealth

2. Population explosion

The Filipino Values and Culture

A. Love for Imported Products

B. Our Values of Bahala Na

C. Our Crab Mentality

D. Manana Habit

E. The Value of Time

F.Our Values of Hiya

G.Fiesta and Social Occasions

Employment Opportunities

It remains to be elusive among Filipinos

A. Employment is One Great Factor in Economic Development

Income Opportunity in the Countryside is still Subsistence in Nature

A Second Look at the Agrarian Reform Program

 Its goals are to provide landowners equality in terms of income and opportunities, empower land owner
beneficiaries to have equitable land ownership, enhance agricultural production and productivity, provide employment to
more agricultural workers, and put an end to conflicts regarding land ownership.

Failure to Develop Better System of Education

 College graduates but failed the board due to poor education system
 Graduates of Marine Transportation and Engineering end up unemployed because they could not practice
apprenticeship to take the examination.
 The Quality of Training and Education
 Failure to pass board exams by the PRC
 A product of education should match the need of the industry. A mismatch is a wasted investment.
 Educational mismatch- defined as the inadequacy between the worker's level of education and the level of
education which is required for his job

Availability of Needed Capital

 Poor people are not aware of these great opportunities to avail funds
 Republic Act 6977, known as Magna Carta for Small Enterprises provided the necessary funds for the development
of entrepreneurs in the countryside.
 Republic Act No. 6810- Magna Carta for Countryside and Barangay Business Enterprise, grants exemptions from
any and ALL government rules and regulations and other incentives and benefits for other purposes.
 achieve development through the absence of bureaucratic restrictions
 Number of employees should not be more than 20
 Enterprises shall be engaged in professional service, retailing, wholesaling
 Assets do not exceed FIVE HUNDRED THOUSAND PESOS before financing.
 Should be located in countryside or barangay
 Shall only pay 250 pesos to the Municipality or city where it is located
 All COUNTRYSIDE AND BRGY BUSINESS ENTERPRISES (CBBE) shall be exempted from payment of all taxes, national
or local licenses and building permit fees and other BUSINESS TAXES, except real property and imported articles.