ST. MICHAEL’S HIGH SCHOOL, INC.

Gandara, Samar

CONTEMPORARY ECONOMIC
ISSUES FACING THE FILIPINO
ENTREPRENEUR

Prepared by:
Aia Mil C. Llacer
Student
Prepared to:
Mr. Erwin N. Coles
Teacher

S.Y 2023 – 2024

ENTREPRENEURSHIP
- Jean-Baptiste Say (1767-1832), a French
economist, came up with the word entrepreneur.
He is better known for his theory, Say’s Law of
Demand which states that production drives
demand.
- Entrepreneurship largely entails putting up a
business and assuming all risk. This
characteristic makes entrepreneurs similar to
business owners. But in addition, entrepreneurs
are more like innovators. Entrepreneurs focus
on spotting a gap in the market or a business
opportunity and think of ways to exploit it.
 Innovation Strategies of Entrepreneurs
o Creation of a new product or service
o Improvement of an existing product
o Process Improvement
 Disruptive Innovation
Is defined as a process that, as the name implies
“disrupts” or changes the structure of an existing
market. It creates a new industry rather than just
compete with an existing one. It changes the status
quo by gradually gaining a substantial customer
base. It is the brainchild of Clayton Christensen, a
Harvard Business School professor and founder of
the Clayton Christensen Institute.
 The Filipino Entrepreneur
Filipinos can be very enterprising. It is not a
surprise that some of the most successful Filipinos today
were once struggling entrepreneurs who started with
only an idea and an intense drive to succeed. They look
huge risks and persevered, and all their hard work
eventually paid off.
Like the DTI, the PCE organizes events to business
ventures with high potential.
TYPES OF BUSINESS STRUCTURE
 Sole Proprietorship refers to a business having
a single owner. The owner and the business are
taken as the same entity, which means the profit
of the business is also the income of the owner.
 Partnership refers to a business having more
than one owner. The owners and the business
are also considered as one entity, but the profit
of the business is divided among the partners.
 Corporation refers to a business type where the
owner and the business are considered as
separate entities. Because ownership varies, the
profit of the business is not equivalent to the
owner’s income. The owners of a publicly
traded corporation are its stockholders.
 Conglomerate refers to two or
more corporations under the same
ownership or parent company.
New Business Registration
The process involves dealing with five
government agencies.
 Department of Trade and Industry (DTI)
 Barangay
 Municipality
 Bureau of Internal Revenue (BIR)
 Social Security System (SSS)
Issues and Change Facing the Filipino Entrepreneur
 Investment
 Interest
 Investment

 Governance and Support

The Department of Trade and Industry (DTI)
governs entrepreneurs and businesses in the Philippines.
Republic Act No. 10679, also know the Youth
Entrepreneurship Act, was passed in July 15, 2015. The
act aims to support the development of young
individuals (18 to 30 years old) in fields of finance and
entrepreneurship by integrating financial literacy and
entrepreneurship programs in education curriculums.
The program will be implemented by an
Entrepreneurship Education Committee (EEC).

The Philippine Center of Entrepreneurship (PCE) is a

nonprofit organization that advocates entrepreneurship
in the country. It is more commonly known for its
program called “GoNegosyo”.