ENTREPRENEURSHIP

Detailed explanation-1: -Article XII Section 14 of the 1987 Philippine Constitution provides that sustained development of a reservoir of Filipino entrepreneurs and managers shall be promoted by the State. The Philippines is an entrepreneurial country. Slowly, entrepreneurship is becoming the backbone of the country’s economy.

Detailed explanation-2: -Entrepreneurship 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.

Detailed explanation-3: -Entrepreneurs create a source of income not only for themselves but also for people in society. In the Philippines, only small and medium-sized enterprises (SMEs) accounted for more than 60% of all the jobs in the Philippines. This is a huge number and just because of these businesses, many people were able to get by.

Detailed explanation-4: -Gifford Pinchot introduced the term (entrepreneur, intrapreneur, social entrepreneurship)

Detailed explanation-5: -According to Schumpeter, “Everyone is an entrepreneur when he actually carries out new combinations". Finding new combinations of factors of production is a process of entrepreneurial discovery that will become the engine that drives economic develop-ment.