They can't seem to make their business venture profitable

Bringing on the Era of the Filipino Entrepreneur

Though it is true that more Filipinos engage in some sort of "business" rather than work a 9 to 5 job, it is not true that most of us are entrepreneurs. A large percentage of those who have engaged in "business" do so more out of necessity than out of an entrepreneurial spirit. Statistics have included the sidewalk vendors, drivers of public utility vehicles and junk collectors (bote-dyariyo) in our list of "businessmen." Though some of them actually have this entrepreneurial spirit, most do not. In fact, even some medium sized business owners fail to show any real entrepreneurial spirit.

Our so-called "business acumen" has actually been forced upon us because of poverty. The fact that our business-mindedness is brought about by our will to survive isn't necessarily a "bad thing;" however, the sad truth is that, for the most part, it ends there. Most Filipinos can't seem to go beyond their day-to-day struggles. They can't seem to make their "business" venture profitable. Why? Because of lack of education! What kind of education?

Well, let me tell you a story about a taxi cab driver I met recently:

In my travels around Metro Manila, I have met a taxi driver who, through perseverance and a clear goal, now owns 3 apartment houses and an internet shop. He drove his taxi, and told me that driving a cab is his way of getting an education. He often interviews his passengers about the proper way of doing business and investments. Many times he got (according to him) really stupid answers; but every so often, he meets people who provide him with brilliant ideas, which he has catapulted into the "assets" he owns today.

One passenger suggested that he take advantage of the growing "mobile phone load" business at the time (he got this advice during the turn of the millennium). Realizing that the area he lived in had a lot of variety (sari-sari) stores that did not sell "load" (because he lived in an area notorious for street thugs and no one wanted to invest in a "load" business there), he decided to invest in it himself. He then saved up 5,000 Pesos from his meager income as a cab driver and started his venture. The rest, as they say, is history. I'm sure he's still out there... getting his education from the driver's seat of his cab.

This cab driver is an entrepreneur! I envied his wisdom because I had a formal education; yet I have not accomplished what he has. He, with his limited education, was able to capitalize on the bits and pieces he gathered from his passengers... while driving his cab! Can you imagine that? Sadly, this cab driver is but one in a million. His story, however, is a perfect example of how a little bit of education can go a very long way. Most formal entrepreneurship instructions in the country are NOT offered to the likes of sidewalk vendors, variety (sari-sari) store owners, drivers of public utility vehicles and other "street-employed" workers.

If we continue to ignore this sector, I believe that it will be our own undoing. Just look around us. Untended farmlands, squatters, drug addiction and a host of other social ailments are the price we pay for leaving our populace ignorant. Let's not wait for the government to move. We have an obligation to educate our would-be entrepreneurs and make them successful. By doing this, we save our own futures.

It's time to bring on the era of the Filipino entrepreneur!