Filipino entrepreneurs remain confident the country’s economic environment will improve in the next six months.
The Global Entrepreneur Indicator released by the local chapter of the Entrepreneurs Organization showed 60 percent of business owners expected a better operating environment, while 40 percent believed it would stay the same.
Business sentiment in the Philippines is more positive than the global average. About 33.24 percent of global respondents expected improvement, 2.72 percent, deterioration and 61.8 percent, status quo.
About 73.3 percent of local businesses reported a favorable business environment while 93.33 percent predicted it would be better in the next six months.
The GEI, released globally every year for the last five years, uses five indicators such as job creation, outlook, employment, debt and revenues to forecast global trends.
It reflects key figures from 2,800 members of the Entrepreneurs’ Organization, mostly SMEs, across 46 countries.
The Philippine data was based on the responses of local chapter members.
Data from the Philippine Institute for Development Studies said small and medium enterprises, which account for 99.6 percent of total registered enterprises, currently contribute 35 percent to the gross domestic product.//
