Applied Economics

Activity 5: Contemporary Economic issues facing the Filipino

entrepreneurs
Instruction: Discuss how you can help the newly set-up businesses in your community in
coping up with the pandemic (COVID-19). Consider the rubric below in writing your essay.

Due to the lockdown, most people are staying indoors and not going to their offices. Many stray cats
and dogs may be going without their regular supply of food because of this. Even though WHO has
said that dogs can’t get the novel coronavirus , you can maintain social distance with them as a
precaution. Just leave something out if you notice any strays in your area. You can even just leave
out some seeds or grains in your balcony for the birds. Since the lockdown was announced, some
stores have seen an overwhelming demand for food and medicines. Many stores have no fresh fruits
or vegetables left and seeing this is in the news sometimes can invoke panic even in people who
were calm before. Try and stay calm - don’t give in to the urge to panic buy everything you see. Only
take what you need and leave the rest for others. 

(Essay. 5 PT. RUBRIC

5 points Comprehensive and analytical
4 points Well written and some includes analysis
3 points Well written but lacks analysis
2 points Weak essay
1 point Poorly written and lack strength).

Instruction: How has COVID-19 affected the Filipino entrepreneurs especially the
newbies in the business? Answer below.

Everyone has been affected by the COVID-19 pandemic. Besides the threat to health,
the outbreak has also affected the economy. 
A lot of entrepreneurs, especially those who just started with their business, probably
felt that it was the end of everything. 

I have asked some entrepreneurs how they are coping while the whole country adjusts
to quarantine life. Most of them replied that the pandemic hit them hard both financially
and emotionally. My heart is with them because I have also experienced the same. 

But one of the great characteristics of an entrepreneur is resilience - accepting

challenges as they come. 
The kind of assistance that the government has promised may not be sufficient, the
funds may not be enough to cover everyone’s necessities. With that said, should we
just wait for the problem to go away? Of course not.

Amid the restrictions imposed during the community quarantine, there are those who
tweaked their business. Restaurants offered food pick-up as well as delivery services
so we still got to enjoy our favorite dishes in the comfort of our own homes. For these
entrepreneurs, stopping the business was never an option, but was an opportunity to
continue to serve to the public.

We need to find ways on how to remain financially afloat during these times. Not all
businesses have a business continuity plan, thus some establishments have completely
closed up during the quarantine period.

The COVID-19 outbreak has taught us a lot about how we should live our lives and
prepare.