Angelo M.

Duldulao
ENM1101 Sec5

Reflexive paper to GEM report 2021-2022

Ever since pandemic started 2 years ago, I’ve seen so many businesses close down and
go bankrupt, especially those who belongs to MSME’s because of the “no going out” policy”.
But, when pandemic subsided and businesses were allowed to operate 100% of its capacity to
serve its customers, economic recovery became possible. I think that what the GEM report for
year 2021-2022 is right accurate because entrepreneurship had always been the key driver of
economic development and recovery because they’re the one who’s in the front line giving the
necessary tax for government to used for the development of the country. And during this
pandemic, entrepreneurs shows that they may fall but they always will stand again because
they can offer solutions to any problems and challenges in terms of economic, environmental,
and social issues.

I think that it’s pretty amazing to see different levels of entrepreneurial activity in each
economy because it allows me, as a future entrepreneur, to see what levels will I be in the
future. This can allow me to plan for my business of what kind of strategies should I make and
which decisions should I choose when I encounter barriers and challenges. I can also learn and
examine myself which things motivates me in doing entrepreneurial activities which if I became
fully aware allows me to do better at what I’m doing because I have the will and guts to strive
for the best in order to survive in harsh environment of business. This will also allow me identify
and analyze the intentions and attitudes I have in creating new business because I know that
doing a start-up business from the scratch is very difficult from business idea to financial
capabilities up to challenges of being a start-up business. Fortunately, this report also allows me
explore the nature of new businesses and what can they do to create new jobs and expand
internationally. It can provide me every detail about each economy’s entrepreneurial
environment. This information allows me to reduce the threats and challenges I might face in
the future because I have the initial idea of how business works together with the government
and in economy.

As threats and challenges is inevitable in being an entrepreneur, I believe that it’s return
will be huge if I can do it right. Pandemic might hit, natural disaster might happen, and
economy might fall, but I know that entrepreneurs will always survive because they know how
solve problem and grab the opportunities they have. And I’m glad that I am one of those
entrepreneurs.