Most Filipinos engage in small businesses for several reasons: they cannot afford to start large businesses without significant capital; small businesses have low startup costs and can grow large over time; and self-employment through small businesses is often the only option for livelihood given limited job opportunities in the Philippines. Small businesses also allow Filipinos to develop and sell their own products in a competitive market.
Most Filipinos engage in small businesses for several reasons: they cannot afford to start large businesses without significant capital; small businesses have low startup costs and can grow large over time; and self-employment through small businesses is often the only option for livelihood given limited job opportunities in the Philippines. Small businesses also allow Filipinos to develop and sell their own products in a competitive market.
Most Filipinos engage in small businesses for several reasons: they cannot afford to start large businesses without significant capital; small businesses have low startup costs and can grow large over time; and self-employment through small businesses is often the only option for livelihood given limited job opportunities in the Philippines. Small businesses also allow Filipinos to develop and sell their own products in a competitive market.
There are many reasons why Filipinos usually engage with
small businesses. One of these reasons is that most Filipinos are not born rich, so they cannot afford to start large businesses in an instant, whereas ordinary businesses are easy to execute even with a small amount of start-up capital, and many large businesses that are operating today were once small businesses, so perhaps this is the hope most Filipino are holding on to engage with ordinary small businesses. Filipinos usually choose to combat on a purely competitive market as products are not hard for them to idealize and create their own product. On the other hand, I've noticed that most ordinary small businesses in our country treat it as a source of income/livelihood, which is not a good idea but makes sense because, aside from the fact that our country has a limited number of employment, it's also difficult for us Filipinos to work for others.