First Quarter 2023 TUGON NG MASA (TNM) Survey Findings:
A majority of Filipinos are inclined toward entrepreneurship, and consider mentorship as an important element for small businesses, according to a commissioned survey conducted by OCTA Research. The survey was conducted last March among 1,200 Filipinos 18 years and older, from across all socio-economic classes.
The survey found that 78% of respondents would choose to go into business, citing the following as reasons: manage own time/schedule (31%), having no boss to report to/ get along with (30%), no limit in profit/ bigger salary (16%), daily income/ money (12%), and ability to work/earn at home or anywhere (11%).
OCTA also found that Filipinos appear to be more attuned to entrepreneurship as evidenced by the high awareness rating of the non-profit Go Negosyo, which advocates for micro, small and medium enterprises (MSMEs) in the Philippines.
The survey showed an 68% awareness rating for Go Negosyo, the highest awareness (78%) being in the Visayas region. Go Negosyo’s founder, Joey Concepcion, enjoyed a 60% awareness rating among the respondents.
Moreover, the survey showed that the respondents showed a high awareness rating of what the nonprofit does. More than half of the respondents (54%) see Go Negosyo as a partner of, or supporting, small enterprises, while 42% see Go Negosyo as an organization that teaches how to run a business. Two elements – capital and mentorship – were seen by respondents as the support that small entrepreneurs need from government, at 82% and 67%, respectively. Mentorship was seen as important to small businesses by 95% of all respondents, saying it is very important (67%) and somewhat important (28%).
TABLES
GO INTO BUSINESS OR WORK AS AN EMPLOYEE?
WHAT GOVERNMENT SUPPORT DO SMALL ENTREPRENEURS NEED THE MOST?
WHY CHOOSE TO GO INTO BUSINESS?
HOW IMPORTANT IS MENTORSHIP FOR SMALL BUSINESSES?
AWARENESS OF GO NEGOSYO AND GO NEGOSYO FOUNDER JOEY CONCEPCION
WHAT COMES TO MIND WITH THE NAME “GO NEGOSYO”?
