Critique #01

This came from one of the papers I submitted last year in one of my graduate courses. The write-up is a reaction to an article I read in the Philippine Daily Inquirer dated January 11,2006 entitled "Entrepreneurs Overregulated, Underfunded".

It is really hard for entrepreneurs to open up businesses. My family had just opened a new grocery business and we had to sacrifice significant time to process government documents from the name of the store to the mayor’s permit. From the business name alone, we had to submit and resubmit suggested names to the Department of Trade & Industry for several weeks. The DTI has to be strict in approving business names. However, we were a victim of the agency’s bureaucratic policies. When we applied for our store’s name in the _________ Branch, our suggested names were consecutively turned down. We decided to apply in the Provincial Head Office in ________ instead and were told to use the internet for online application. We got our name approved in 3 days. We found out that the _________ Branch’s personnel knew our old existing business and our identity. I believe they were trying to pressure us into something and when we have given up, they’ll just name a price for us to pay for approval which is more likely an illegal process.
The PCCI is correct in saying that the government should try to streamline their procedures in establishing businesses. A lot of my yuppy-friends considers enterprising as their last resort in utilizing their savings. Yuppies (Young Urban Professionals) have vast amounts of savings since most of them do not pay for their parents needs and they don’t have families to feed either. Therefore, they should be a prime target to encourage enterprising. Most of my friends instead, invested their savings on stocks as if they’re playing a computer game or jueteng in a more sophisticated and fashionable way. The DTI blames the lack of fundings for entrepreneurs. We have a lot of micro-businesses, especially the sari-sari stores found all over the country. Most of these businesses are funded personally. For small and medium business, bigger budget are needed and thus comes DTI’s point. Funding is also a problem for future entrepreneurs. However, if promotion and encouragement will come from the DTI, it could save us time and money for the economy. Creative, Risk-taking and Determined are some of the innate qualities of entrepreneurs. The DTI should take time to look over the funding issue. Real, serious entrepreneurs will not be discouraged by mere lack of funds or high interest rates. Entrepreneurs are creative enough to know the success rate of their endeavors and will always test the waters for problems. Being risk-takers, they will always have the courage and the thrill in managing and owning a business. Determined to be successful in their planned action, entrepreneurs will always find a way in the business maze.
An increase in entrepreneurs will result to an increase in businesses. More businesses will create more jobs. More jobs will increase consumer spending and hopefully also increase consumer savings. Entrepreneurs will most likely support local industries and indigenous products such as fibers/abaca, bio-fuels and raw materials that are produced in the Philippines. This will help existing entrepreneurs, especially those in rural areas, boost their sales and develop. The chain of positive economic circumstances is something that the whole country will be proud of and something that will make us all happy. The DTI’s proactive encouragement for entrepreneurial endeavors will definitely be a plus for the promotion of entrepreneurship. Since the department is the one in charge of most business policies in the country, a pat in the back from the department is one big step towards a business-oriented country. Since most of the country’s business policies are consumer and government centered, I believe it is time for a more balanced point of view. Currently, the GoNegosyo campaign in the country is a great project. I believe the advocating groups should be commended for their goals and objectives in promoting entrepreneurship and increasing the country’s local productivity. By generating more businesses, we also generate earnings and jobs within our own country’s boundaries. Therefore, we can be sure that even on our own, we can develop into a more economically stable state. On the education side of our government, am proud of state high schools that provide individual skills development wherein high school students are allowed to choose their specific areas of specialization. For three years 2nd year to 4th year high school, the students are given training in mechanics, electrical, electronics, dressmaking and cosmetology. These are signs that people are aware of the importance of an enterprising spirit in our country’s economy. The business sector have started on advocating entrepreneurship while the government’s training arm, the Department of Education, is also doing its part when it comes to nurturing and developing an enterprising spirit within students while still at a young age. The Department of Trade and Industry should initiate its own agenda in encouraging entrepreneurs. Balanced policies for trade will help the economy, but advocacy within the ranks of DTI employees is also important. The DTI should have a clear vision and mission of promoting entrepreneurial spirit in the country passed on to every employee of the agency. Surely, future entrepreneurs will not be turned-off from the first step of their agenda. This may not be a total solution to our economic dilemmas but it will greatly affect the future of the country as a whole. Entrepreneurship is a key and we should turn it to open the door for big opportunities ahead.