Brief History of Entrepreneurship It employs in thecommunity.

There is an immediate work

The origins of entrepreneurship can be traced to capitalism,
which is an economic, political, and social system that has
origins in the desire of private citizens to produce goods and
services that the public needs.
The main characteristics of capitalism is the right to own
private property, which can include lands, buildings,
knowledge, patents, know-how, processes, and whatever
assets that are used in creating profit.
The writers of entrepreneurship, Hirsch, Peter, and Shepherd
regard Marco Polo as an early entrepreneur looking for new
routes of transport, and with the aid of capital-providing
financiers, arranged journey leading to the procurement and
selling of goods using the newly developed
impact from new organizations that emerges from the new
openings being made.
Entrepreneurs generate new demand in the market.
Developing a valid client's environment. Look for chances to
comprehend their image, culture, product, and services.
Entrepreneurs develop an opportunity
searcher mentality.
They extend their horizons towards marketing enhancement
through the promotional campaigns, brand awareness, and
product development.
It makes a generous commitment to the raising and
assortment of taxes.

Over the years, many ideas on entrepreneurship have
evolved, such as the crucial role of innovation and the
importance of recognizing and exploiting opportunities.
Entrepreneurship in the Philippines
In the Philippines, entrepreneurship is seen as necessary to
empower the poor; boost development, and stimulate
innovation. Philippine Constitution of 1987 recognizes
entrepreneurship as a driving force for economic growth.
Vibal (2016, 13) discussed the significant role of entrepreneurs
in payment of taxes, permits, and licenses of business activities.
The government utilized this assortment particularly to acquire
access to social administration for example streets, bridges, free
education, and so forth.
SIGNIFICANCE TO PHILIPPINE ECONOMY
Aduana (2017, 8) enumerated the following impact of
entrepreneurship to the Philippine economy:

The Philippine Development Plan (PDP) further reinforces the 1.It energizes competitiveness thus, provokes challenges among
thrust on entrepreneurship through trade and investment to entrepreneurs to continue innovating their products and
achieve the government’s goal of economic development and services.
job creation.
2. It hurries the monetary recuperation procedure of the
Based on the plan, measures for macro-economic stability, Philippines during
employment, trade and investment, agri-business, power financial crisis.
sector reforms, infrastructure, competition, science and
technology, and anti-corruption are being pursued to 3. It facilitates the progression of money flow in the market.
strengthen the Philippines’s economy.
4. It helps the national government in its longing to have
SIGNIFICANCE OF ENTREPRENEURSHIP TO THE FILIPINOS positive financial
evaluations in the world market.
Improve the quality of life
Successful entrepreneurs took the courage of envisioning to
improve the quality of life of every individual. Offering new
products and services that make consumers live more
convenient or enjoyable.

Serve as a role model

According to Vibal, (2016, 12) entrepreneurs are individuals to
be imitated by more youthful ages in the network and society
on the loose. The disposition,
conduct, and individual qualities like proactiveness,
opportunity acknowledgment, hazard taking readiness, and
innovativeness are a portion of the qualities that will make
them fruitful entrepreneurs later on.

IMPORTANCE TO THE LOCAL COMMUNITY

Entrepreneurs produce employment in the community.

Entrepreneurs stimulate work development and employment
opportunities by creating new job openings when they enter
the market.