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Majority of Filipinos inclined to go into business — survey

EXPERIENCED ENTREPRENEUR Go Negosyo founder Joey Concepcion talks to aspiring entrepreneurs during the 3M (Mentorship, Money, Market) On Wheels at SM City San Lazaro, Manila on Saturday, Jan. 21, 2023. PHOTO BY RENE H. DILAN

A MAJORITY of Filipinos are willing to go into business, according to the latest OCTA Research survey released on Thursday.

The poll from March 24 to 28 among 1,200 respondents nationwide showed 78 percent of respondents would choose to go into business for the following reasons: manage own time/schedule (31 percent), having no boss to report to/ get along with (30 percent), no limit in profit/ bigger salary (16 percent), daily income/ money (12 percent), and ability to work/earn at home or anywhere (11 percent).

OCTA also found that Filipinos appear to be more attuned to entrepreneurship as evidenced by the high awareness rating of the non-profit Go Negosyo, which advocates for micro, small and medium enterprises in the Philippines.

The survey showed a 68 percent awareness rating for Go Negosyo, the highest being in the Visayas region at 78 percent.

Go Negosyo’s founder, Jose Maria “Joey” Concepcion 3rd, also enjoyed a 60 percent awareness rating among the respondents.

Moreover, those surveyed showed a high awareness rating of what the nonprofit does.

More than half of the respondents (54 percent) see Go Negosyo as a partner of, or supporting, small enterprises, while 42 percent see Go Negosyo as an organization that teaches how to run a business.

“Two elements – capital and mentorship – were seen by respondents as the support that small entrepreneurs need from [the] government at 82 percent and 67 percent, respectively,” OCTA said.

“Mentorship was seen as important to small businesses by 95 percent of all respondents, saying it is very important (67 percent) and somewhat

important (28 percent).

The survey used face-to-face interviews and had a margin of error of ±3 percent margin of error at a 95 percent confidence level.

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Author: Catherine S. Valente

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