What are the economic issues facing the Filipino entrepreneur?

What are the economic issues faced by the Filipino entrepreneurs?

Terms in this set (10)

  • minimum wage. lowest wage per hour that a worker may be paid as mandated by the federal law.
  • wages. another factor that drives up a business operating expenses.
  • National Wages and Productivity Commission. …
  • tax. …
  • Percentage tax. …
  • capital gains tax. …
  • value added tax. …
  • income tax.

What are the different economic issues affecting the entrepreneur?

The Top 3 Economic Challenges Facing Entrepreneurs in 2016

  • Financial fluctuations. Ever since the market crash of 2008, the world’s central banks have flooded the markets with money in unprecedented quantitative easing. …
  • Globalization and increased efficiency. …
  • Technological tornadoes.

What are the problems faced by Filipino entrepreneur?

Challenges Faced by New Entrepreneurs in the Philippines

  • Lack of funding. You know you have a great business idea with much potential for success. …
  • Cash flow concerns. Managing your cash flow can prove to be more difficult than you anticipate. …
  • Lack of management skills.

What are the contemporary economic issues?

Economic Issues

  • Credit: Topic. Granting of goods, services, or money in return for a promise of future payment. …
  • Economic Inequality: Topic. …
  • Great Depression: Topic. …
  • Hyperinflation: Topic. …
  • Inflation: Topic. …
  • Poverty: Topic. …
  • Public Debt: Topic. …
  • Recession: Topic.
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What do you think is the importance of business opportunities in the Philippine economy?

In the Philippines, entrepreneurship is viewed as important to empowering the poor, enhancing production, and as an impetus to innovation. The 1987 Philippine Constitution recognizes entrepreneurship as an engine of economic growth. … In 2011, there were approximately 830,000 business enterprises in the Philippines.

How does globalization help the economy?

In general, globalization decreases the cost of manufacturing. This means that companies can offer goods at a lower price to consumers. The average cost of goods is a key aspect that contributes to increases in the standard of living. Consumers also have access to a wider variety of goods.

What are the economic challenges?

Examples of Economic Growth Challenges

  • High rates of unemployment or underemployment.
  • Increasing inequality, with many not being included in the growth process.
  • High rates of poverty and low growth.
  • Volatile growth dependent on one source.
  • Disruption of major economic activities due to the pandemic, e.g. tourism.

What are the three issues that impede Philippine entrepreneurs?

What are the top 3 issues that impede Philippine entrepreneurs to succeed?

  • Red-tape. …
  • Poor public utility services.
  • Lack of financial support.
  • Lack of marketing skills.
  • Ineffective management.
  • 6 Inability to innovate.
  • 7 Lack of customer care.
  • Lack of self-growth.

What are the challenges facing entrepreneurs?

The top 10 challenges faced by entrepreneurs today

  • Cash Flow Management. …
  • Hiring Employees. …
  • Time Management. …
  • Delegating Tasks. …
  • Choosing What to Sell. …
  • Marketing Strategy. …
  • Capital. …
  • Strapped Budget.

What are the major problems of the Philippines?

The Philippines also suffers major human-caused environmental degradation aggravated by a high annual population growth rate, including loss of agricultural lands, deforestation, soil erosion, air and water pollution, improper disposal of solid and toxic wastes, loss of coral reefs, mismanagement and abuse of coastal …

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