The crucial role played by micro, small and medium enterprises (MSMEs) has long been recognized. The established figures are astounding — more than 99% of enterprises in the Philippines are MSMEs. These business entities heavily contribute to economic development and, more importantly, generate employment in a scale larger than big industries. It thus makes absolute sense for lawmakers to pass a legislation that encourages and assists MSMEs during registration, in the conduct of business, and compliance with regulatory requirements.
What to do when one has no business idea and no business capital? The good thing about the query, received through email, is the obvious interest in doing business. It’s important to note that much of the risk in doing business lies in the insufficient understanding of the nature, requirements and prospects of the business. Peter Drucker, widely regarded as a management guru, succinctly noted that “entrepreneurship is “risky” mainly because so few of the so-called entrepreneurs know what they are doing.” There is, therefore, everything to gain in asking questions, especially for new entrepreneurs. Continue reading
We (hopefully) learn from our own experience. We also learn from the experience of others, both from those who failed and from successful Pinoy Entrepreneurs. Let’s see what we can pick up from the awardees in the recently-concluded search for the Entrepreneur of the Year Philippines 2012, organized and presented by Ernst & Young, which was announced on 18 October 2012 at the Makati Shangri-La Hotel.
The usual reason given by Overseas Filipino Workers (OFWs) in leaving the Philippines, and enduring the separation from their families, is the greener pasture at the other side of the fence, wherever in the world that may be. We’ve previously noted that perhaps it would help OFWs to become entrepreneurs. Invest or start a business, whether in the Philippines or abroad, and create a financial buffer in case they decide to “retire” from work abroad and return to the Philippines. Someone asked how to start a business in the Philippines. We’ll put ourselves in the shoes of our OFW brothers and sisters, then ask: what would we do?
The story of National Bookstore (NBS), currently the biggest book chain and one of the most successful retail outlets in the Philippines, won’t be complete without telling the story of a soft-spoken lady. Socorro Cancio Ramos, fondly called Nanay, is the founding matriarch of NBS, literally and figuratively hand-in-hand with her husband, the late Jose Ramos. Her story would truly serve as an inspiration to budding Pinoy Entrepreneurs.
The Money Summit & Wealth Expo 2012, the only investing conference and expo in the Philippines, is slated on July 20-21, 2012 at SMX Convention Center in Pasay City and August 2-3, 2012 at Waterfront Cebu City Hotel. Just in case you’re interested in investing and trading in stocks, funds, forex, and real estate. We’re not connected with this event.
“It is widely accepted that small and medium enterprises play a veryimportant and significant role in the economic and social development of a country”. This is an acknowledgment by the Philippine government itself, through the Department of Trade and Industry (DTI) in its 2004-2010 SME Development Plan. Continue reading
It’s easy to talk about business and entrepreneurship — how it’s done, tips in running a successful business, top business prospects for the year, business ideas with huge potentials, and just among the myriad of topics that could be discussed by just about anyone.
Red tape or government inefficiency is among the problems identified by businessmen doing business in the Philippines. Speed kills in boxing, as in business. Faster internet connection. Faster delivery time. Faster service response. Everybody seems to complain about red tape and fixers. Yet not everybody knows that there’s a law especially enacted to combat it.
Martial principles and tactics have been repeatedly applied in business and entrepreneurship, in law practice or in other aspects of life, as we can see from the countless business books revolving on Sun Tzu’s Art of War. Allow me to pick some “lessons” on the unfortunate hostage-taking by Rolando Mendoza on 23 August 2010, in front of the Quirino Grandstand (feel free to jot them down in the comment section). Continue reading