Contemporary
Economic Issues
Facing the Filipino
Entrepreneur
Lesson 3
What is an Entrepreneur?
An entrepreneur is an individual who creates a
new business, bearing most of the risks and
enjoying most of the rewards. The process of
setting up business is know as entrepreneur is
commonly seen as an innovator, a source of new
ideas, goods, services, and business/or
procedure.
Annual Review
September 3, 20XX
2
How Entrepreneurship Works?
Entrepreneurship is one of the resources
economist categorize as integral to production,
the other three being land/natural resources,
labor and capital. An entrepreneur combines the
first three of these to manufacture goods or
provide services. They typically create a business
plan, hire labor, acquire resources and financing,
and provide leadership and management for the
business.
Annual Review
September 3, 20XX
3
Who are the Filipino Entrepreneurs
• Practically and common sense. The most
successful Filipino entrepreneurs are not
necessarily those who have the best
education, or have an impressive academic
record. They described as street smart.
• Passionate about business.
• Confident and self-reliant.
Annual Review
September 3, 20XX
4
Investment and interest rate
Investment
- It is a process of building up capital stock, or the
expenditure which determines the income and
production in the economy.
5
Rentals
- It is typically referring to the use of
property for a certain amount.
- It is the price paid for the use of land
and other natural resources or factors
of production that is in fixed supply.
- Rent has been traditionally associated
with land, which is a fixed factor of
production.
6
Wages
- A basic principle of economics is the notion
that the price or value of goods, services, and
even resources, such as labor, is determined by
the behavior of demand and supply
Minimum Wages
• Minimum wage is the lowest allowed wage paid to workers by virtue of
legislation and government policies.
• This is a form of government intervention to all alleviate poverty and
income inequality in terms of rendering job services
• The effects of minimum wages may in principle differ between
industries in which employers do and do not have control over the
wage rates the pay for the labor of a given skill and application
• Minimum wage is set primarily to protect workers from abusive
employment practices.
• A decent minimum wage is actually a useful toll in addressing wide
disparities in wage distribution
8
Taxes
• Taxes are the lifeblood of the government.
• Percentage tax - it is by the entities exempt from VAT with
gross annual sales not exceeding limit prescribed by the BIR
of 3%
• Income tax - it is the common tax filed by employed and selfemployed individuals’
• Value added tax- it refers to on sale, lease and importation of
goods and services of 12%
9
“ Thank you!!!
10