ENTREPRENEURSHIP:

STARTING AND GROWING

A SUCCESSFUL BUSINESS

OCTOBER 14, 2023

TONUS GYMNASIUM
SAINT MARY’S UNIVERSITY

SHERYL A. ADDUCUL-BARIA
Lecturer
WHAT IS ENTREPRENEURSHIP?

• The activity of setting up a business or

businesses, taking on financial risks in the hope
of generating profit.

• The process of identifying opportunities and

creating innovative solutions to meet market needs
by starting and managing a new venture.
 WHO IS AN ENTREPRENEUR?

• An individual who creates a new business,

bearing the risks and earning the rewards.

• Entrepreneurs are typically innovative and

have a strong vision for their business. They
are also willing to take risks and work hard
to achieve their goals.
WHO IS THE ENTREPRENEUR?
 TYPES OF ENTREPRENEUR?
• Small business owners: These entrepreneurs start and run their
own small businesses, such as restaurants, retail stores, or service
businesses.
• Start-up founders: These entrepreneurs start new businesses from
scratch, often with the goal of disrupting existing industries or creating
new markets.
• Social entrepreneurs: These entrepreneurs start businesses with a
social or environmental mission, such as providing affordable housing
or developing renewable energy sources.
• Intrapreneurs: These entrepreneurs work within established
organizations to develop and launch new products or services.
IMPORTANCE OF ENTREPRENEURSHIP
Small businesses account for 99.5% of
all businesses in the Philippines. This
#1 JOB CREATION means that there are over 9 million
small businesses in the country,
employing over 60% of the workforce.

Entrepreneurs are constantly

developing new products and
#2 INNOVATION services that drive progress and
improve our lives.

GVA: PHP 5.2 trillion

#3 ECONOMIC GROWTH Employment: 42.8 million jobs
Exports: PHP 840 billion.
REWARDS OF GOING INTO
BUSINESS
Unlimited Opportunity

Being your own BOSS

Tapping your Creativity

Helping others

Building an entrepreneurial legacy

 CHALLENGES OF GOING INTO
BUSINESS

Possibility of Unpredictable Unwanted or

Business Long hours Unexpected
Failure Conditions of work Responsibilities
 RISKS OF GOING INTO BUSINESS

Financial Risk Competition

and Securing Dealing with
and Market Uncertainty
Funding Saturation and Failure
Entrepreneurs face Entrepreneurship involves
financial risks by A crowded market poses
challenges, but standing out navigating uncertainties
investing their own and embracing failure as
capital or seeking through differentiation,
innovation, and exceptional learning experiences,
external funding. persisting despite
Securing funding can be customer experience can
overcome saturation. setbacks.
challenging but
rewarding.
 Steps to Starting a Successful Business
Conducting A Market Research
Understand your target market, their
needs, and preferences. Evaluate
competition and identify gaps to position
your business effectively.
1 Identifying a Viable Business Idea
Explore different industries, analyze
market trends, and identify a unique
business idea that aligns with your skills
and interests.
2
3 Developing a Business Plan
Create a comprehensive business plan
outlining your mission, objectives, target
market, marketing strategy, financial
projections, and operational plans.
The Entrepreneurial Process by Ardichvill et al (2003:107)
Strategies for Growing a Successful Business
Attract and retain top talent,
BUILDING A delegate responsibilities effectively,
and create a positive workplace
STRONG TEAM culture to drive organizational
growth

DEVELOPING Craft a compelling brand message,

EFFECTIVE AND leverage digital marketing channels,
and develop robust sales strategies
MARKETING to reach and engage target
STRATEGIES customers.

Optimize operations, invest in

SCALING OPERATIONS infrastructure, and explore
AND EXPANDING INTO opportunities for growth by expanding
NEW MARKETS into new markets or diversifying
product offerings.
IMPROVING FINANCIAL
LITERACY
 FINANCIAL LITERACY

Refers to the ability to understand and apply

different financial skills effectively and efficiently,
including personal financial management, budgeting
and saving.
 IMPORTANCE OF FINANCIAL
LITERACY
 Help us understand the value of money so we can
handle our finances better.
 It saves us from acquiring too much debt.
Allows us to impart knowledge to younger generation.
 Helps us prepare during times of emergency.
 It gives us opportunity to boost our economy.
 Gives us the privilege to help the less fortunate.
TIPS IN STARTING-UP A BUSINESS

Identify your
Estimate your
Business
CAPITAL
Interest

Grow and Avoid

Increase your Unnecessary
Investments Expenses

Don’t get
buried into
DEBT
WHAT DO WE DO TO REGISTER IN DTI
• DTI • SEC

Sole Partnershi
Proprietor p

Cooperative Corporation

• CDA •
• SEC
 REQUIREMENTS

Applicant must be 18 years old and above

Duly filled up application forms

Present 1 Valid Government-Issued ID

TERRITORIAL SCOPE AND APPLICABLE FEES

BARANGAY CITY / MUNICIPAL

Php 200.00 Php 500

REGIONAL NATIONAL
Php 1,000.00 Php 2,000
OTHER REQUIREMENTS NEEDED:
bnrs.dti.gov.ph
FOR ASPIRING ENTREPRENEURS:

Remember that every successful

business starts with a bold idea.
Believe in yourself, be adaptable,
and embrace the entrepreneurial
journey!