General Ideas on Building Filipino Entrepreneurship

Of late, I have been encountering quite a number of noble efforts and initiatives to build a consciousness on entrepreneurship among Filipinos. It is very encouraging that a great many individuals and groups have been focusing their energies in trying to open varied avenues to support such a drive.

Recent events such as the Go Negosyo Entrepeurship Summit and Expo (organized by the Philippine Center for Entrepreneurship) held last February 2006, Microsoft Philippines' Technopreneur Series (an event where successful IT guys who have put up their businesses get to share their two cents worth with aspiring, young entrepreneurs), and the 15th Philippine Retailers Association Expo (where a small Filipino-owned IT company showcased a POS software that can accept payments from the mobile phone and an internet connected PC) have helped provide a groundswell of awareness to the merits of having one's own business.

Resource materials on basic and advanced How To's in doing business line up the shelves of any bookstore and magazine stands (even convenience stores like 7-11 and Mini-Stop carry these reading materials). I recently heard about a new magazine that will focus on the businesses of small and medium sized companies will soon publish its maiden issue.

eBay Philippines

On a personal level, I have observed this rise in consciousness and the overt effort into entrepreneurship in my active participation in eBay Philippines. I have seen the growth of the online auction giant's member base since its entry into the local scene two years ago. There are a great number of Filipinos who "sidelines" selling in eBay.ph (happily disposing of stuff they don't use at home anymore or selling "duplicate" gifts they've received from friends and relatives or quietly indulging their appetite for entrepreneurship which they can't do since they are being tied down by their 9 to 5 job) and a respectable number who have built reputable "online stores" full time (mostly housewives, work-at-home Moms). I have talked to a few who are considering of quitting their day job to concentrate on selling through eBay.

This is a strong indication that Filipinos are, once again, finding ways to address the pinch.

Let the flower of entrepreneurship bloom

From what I have seen so far, the ingredients are all in place. It is now a matter of putting these ingredients together to come up with a very palatable dish to satisfy the palates of the Filipino entrepreneur. It is, also, now a matter of getting the government, both national and local, to enact laws that will make it easy for Filipinos to put up businesses (this, of course, should be done with strict attention to enforcing the proper balance between the substance of the law and the "ease" on doing business) and to obtain financing to fund the business. *Note: More on these in subsequent posts.

The private sector, on the other hand, should come up with services that will benefit the multitude of would-be and existing entrepreneurs through the provision of reasonably cheap packages that will aid in the creation and sustenance of businesses. The telcos can be at the forefront of this initiative by offering competitive and cost-effective product / service bundles for connectivity (i.e. internet, SMS, GPRS, 3G, etc.) as well as business content for both the SMS and the internet medium.

Presently, an estimated 85% of all SMS message are used for personal communication. The same could be said about content for individual Filipino internet users who, mostly, use the internet for chatting (Yahoo! Messenger and Groups), social networking (Friendster, MySpace), email, and just plain surfing (News, Sports, Entertainment). By providing a good reason for using the SMS and internet medium for business and offering lower rates for access to such, the telcos can benefit as well through increased traffic. Hence, more revenues.

The private sector, through the above-cited symposiums, events, and seminars, is headed in the right direction in generating interest in entrepreneurship. Let's all hope the individuals and the groups behind this effort are able to sustain such in the long run. These can then be followed up by more specific seminars that will focus on shoring up the technical and business expertise to run a business. Awareness is not enough. The eagerness, I believe is there. What these new entrepreneurs and those that are already in business will need are tools to equip them to manage the business effectively and profitably.