CONCEPT, IMPACT, and SUPPORT
for ENTREPRENEURSHIP
DEVELOPMENT
CINDY ALMODOVAR SUMAO-I
reporter
ENTREPRENEURSHIP
= is the act of being an entrepreneur,
which can be defined as "one who undertakes
innovations, finance and business acumen in an
effort to transform innovations into economic
goods".
= the pursuit of opportunity without regard to
resources currently controlled.
• Entrepreneurial activities are substantially
different depending on the type of
organization that is being started.
• Entrepreneurship ranges in scale from solo
projects (even involving the entrepreneur only
part-time) to major undertakings creating
many job opportunities.
• Many "high-profile" entrepreneurial ventures
seek venture capital or angel funding in order
to raise capital to build the business.
SOCIAL and ECONOMIC IMPACT of
ENTREPRENEURSHIP
• Entrepreneurship creates employment.
• Entrepreneurship improves the quality of life.
• Entrepreneurship contributes to more
equitable contribution of income and
therefore eases social unrest.
• Entrepreneurship utilizes and mobilizes
resources to make the country productive.
• Entrepreneurship brings social benefits
through the government.
Role of Government in
Entrepreneurship
Governments should create different types of
support institutions:
1. To provide information on regulations,
standards, taxation, customs duties, marketing
issues;
2. ) To advise on business planning, marketing
and accountancy, quality control and assurance;
3. ) To create incubator units providing the
space and infrastructure for business beginners
and innovative companies, and helping them to
solve technological problems, and to search for
know-how and promote innovation;
4. To help in looking for partners. In order to
stimulate entrepreneurship and improve the
business environment for small enterprises.
ASSISTANCE PROGRAMS TO SME’s
Development and management of industrial
estates.
Suspension/deferment of Sales Tax
Power subsidies
Capital investment subsidies for new units set
up in a particular district.
Seed Capital/Margin Money Assistance Scheme
Priority in allotment of power connection, water
connection.
Consultancy and technical support
Sen. MANNY VILLAR
25TH PRESIDENT OF THE SENATE OF THE
PHILIPPINES
As a child, Villar initially attended Isabelo delos Reyes
Elementary School, a nearby public school in Tondo. He also
assisted his mother in selling shrimp and fish at the Divisoria
Public Market, as early as age six, in order to help earn the
money to support his siblings and himself to school. However,
accompanying his mother interfered with his education and
he was forced to drop out from school during Grade 1.He was
then enrolled at Tondo Parochial School (later renamed Holy
Child Catholic School), a private school in Tondo run by priests,
to complete his elementary education.
Villar finished his high school education at the Mapúa
Institute of Technology in Intramuros. He attended the
University of the Philippines - Diliman and earned his
bachelor's degree in business administration in 1970. He
returned to the same school to earn his master's degree in
business administration in 1973. He later characterized
himself as being impatient with formal schooling, and eager to
start working and go into business.
After obtaining his bachelor's degree, Villar began his
professional career working as an accountant for Sycip,
Gorres, Velayo & Co. (SGV & Co), the country's largest
accounting firm. He resigned from SGV & Co. to start his first
business, delivering seafood in Makati.However, when his
largest customer was unable to pay him, he negotiated a debt
restructuring of sorts, selling discounted meal tickets to office
workers in exchange for receivables.He then worked briefly as
a financial analyst for the Private Development Corporation of
the Philippines, where his job was to sell World Bank loans.
Wanting to start a business of his own again, he quit his job
and availed of one of the loans, which offered attractive rates.
In 1975, with an initial capital of P10,000, Villar purchased two
reconditioned trucks and started a business delivering sand and gravel
for construction companies in Las Piñas.[4][7] This eventually segued
into building houses, as Villar took out a seven-year loan from a rural
bank offering low interest rates, and began what would become the
country's largest home building company, with an emphasis on lowpriced mass housing.A notable innovation of Villar's companies was to
sell house and lot packages, when the common practice at the time
was to sell lots for future homeonwers to build upon. He initiated
mass housing projects through economies of scale, utilizing the cost
advantages of developing a large scale project in order to bring down
housing prices.The number of homes built by Villar's companies
totaled to over 200,000 units.
In July 1995, Villar's flagship property, C&P Homes, was listed on the
Philippine Stock Exchange and grew by more than a third in one day,
ballooning Villar's 80% stake in the company to $1.5 billion. Villar had
concentrated on low-cost housings which were bought by the home
buyers themselves, giving opportunities for the low and middle
income Filipino families to acquire homes. He also wanted to set an
example to Filipino entrepreneurs that what they set their mind on can
be achieved.
Vista Land and Lifescapes, Inc. , a family owned business of
Villar , is also listed in the privately owned Philippine Stock
Exchange. Their shares of stocks were bought primarily by
foreign funds which had given the government, as well as the
PSE, good revenues.
Villar has received several awards for his achievements during
his profesional and business career, including being one of the
Ten Outstanding Young Men in 1986, the Agora Award for
Marketing Management in 1989, Most Outstanding CPA by
the Institute of Certified Public Accountants in 1990, and Most
Outstanding UP Alumnus in 1991. In 2004, he was named the
Most Distinguished Alumnus, the highest recognition given by
the University of the Philippines Alumni Association.
As of 2011, Forbes magazine ranks him as the 17th wealthiest
person in the Philippines, with his net worth of US$620 million
or ₱ 26.95 billion (43.47 exchange rate).
END