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GEM Philippines 2013 Report

  • Year of publication: 2014
  • Category: National Reports
  • Language: English
  • Upload date: 2015-03-27

In 2013, Approximately 18.5 million Filipinos were starting or running a new business while close to 6.6 million Filipinos were engaged in a business for at least 3 1/2 years. Filipinos are confident that they have the capability and opportunity to engage in business. They have a very low perception of business failure. More men are engaged in start-up business but more women are enaged in established business. The capacity of Filipinos to start a business, large size of the Philippine domestic market, high regard of society in entrepreneurs are main drivers of entrepreneurship in the Philippines. On the other hand,  access to capital and capability to run and grow the business are two major barriers to entrepreneurs.