Micro and Small Entrepreneurs: A Gateway to Economic Development

Abstract

In its effort to alleviate poverty, the national government has been promoting the growth of entrepreneurs. It has several financial and technical assistance programs for the poor who are interested in putting up micro-businesses. Even some non-government organizations (NGOs) are actively involved in entrepreneurial projects for the poor. This study aims to identify the importance of micro and small enterprises in the country. The descriptive method of research using the independent f-test and ANOVA analysis of variance tested the significant difference on the extent of the level of effects of micro and small entrepreneurs. Majority of the respondents were 35 and above years old, married, college graduate, resident for 26-30 years, 6-10 years of experience. Also, all single/sole proprietorship, 12 years and above in the business, of 6-10 people employed, gross revenue an approximately P25,000,000 up. Assessment of the effects of micro and small entrepreneurs to economic development was of considerable extent. The researcher recommended that entrepreneurs should act and be guided to promote the common good of people to accomplish financial gains. Demonstrate diligence in providing economic benefits, become efficient by creating competitive products/services by fully utilizing available materials and workforce. A more significant commitment to succeed in small business and pursue enhancement and growth. Joining active government programs for continuous community development; promote conservation and preservation of the environment; and raise divergent actions as to solutions to the identified problems and also help the community.