Inspiring Entrepreneurs

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Filipinos do have a flair for business, judging from data from the Department of Trade and Industry. According to the DTI, 99.6 percent of registered businesses in the Philippines are micro, small and medium enterprises (MSMEs) and these provide 63.2 percent of total jobs in the country. “Our Filipino entrepreneurs contribute so much to the country’s economy and provide the livelihood of most of our workforce. This is why our micro, small and medium entrepreneurs need and deserve all the support they can get,” says Manny Aligada, Head of Corporate and SME Segments, Globe Business. According to Aligada, Globe Business went through a lot of research in order to tailor its solutions to the needs of the Filipino entrepreneur. In the course of that research, the group discovered some traits and qualities that make Filipinos good entrepreneurs. Here are some of Globe Business’ insights into the character of the Filipino entrepreneur. Practicality and common sense. The most successful Filipino entrepreneurs are not necessarily those who have the best education, or have an impressive academic record. Some of them, in fact, never even finished grade school.  So how come they are now successful businessmen? “Filipino entrepreneurs have what we might call street-smarts and a great deal of common sense. They are practical thinkers. They make decisions based on what they know about human nature from experience. They are not only able to come up with good products but, more importantly, they know how to relate to their customers and give what their customers want. You really cannot learn such skills from a book or in a classroom. “This is practical knowledge that you gain by relating to actual customers and trying your own hand at a business. In other words, entrepreneurs develop their street-smarts and sharpen their common sense through experience. They learn from both their successes and their mistakes. That’s what makes them effective entrepreneurs,” Aligada says. Filipino...
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