At least 81 percent of Filipinos are willing to go into business, GO Negosyo founder Joey Concepcion said, citing a survey by OCTA Research.
Majority of the businesses in the country are made up of Micro, Small and Medium Enterprises. MSMEs also account for over 62 percent of job generation in the country, Concepcion said in a statement.
“I am glad that the work we have done for the last 17 years continues to bear fruit… It is so important to build the MSME’s optimism and the willingness to engage in the economy,” Concepcion said.
Filipinos are interested in opening a business “granting that they had enough knowhow to do so,” Prof. Ranjit Rye of OCTA Research said, citing the survey which was conducted in October 2022 that engaged 1,200 respondents aged 18 and above.
In terms of socioeconomic classes, those belonging to classes ABC and D have an interest of about 80 percent while class E has an interest of 74 percent, the survey said.
Concepcion said the survey showed that Filipinos are aware of the group’s programs to boost entrepreneurial mindset.
He said mentoring, access to markets and money or capital could help Filipinos who are interested to go into business and generate more income as well as jobs.
“By providing access to the three M’s essential in successful entrepreneurship…we can increase the number of Filipinos who can build successful businesses, and in turn employ more of our countrymen,” he said.
Concepcion, who was previously the Presidential Adviser for Entrepreneurship under former President Rodrigo Duterte, is also part of President Ferdinand “Bongbong” Marcos Jr’s Private Sector Advisory Council.
He said 2023 is a much better year for budding businessmen as the economy continues to recover from the impact of the COVID-19 pandemic.
