Filipinos are known to have a lot of trades and skills, for sure. May it be because of the fact that a lot of Chinese businessmen choose to stay and start businesses here, or it can be because of the fact that we are enterprising in nature—which can be the reason why we have a lot of local businesses here in the country.
This image was taken from Sunstar | Sunstar.com.ph
The Department of Trade and Industry (DTI), a body of the government of the Philippines who is the prime catalyst of the economy, said that small and medium sized enterprises (SMEs) account up to a total of 99.6% of all businesses in the country. Even if that is the case, they still just make up 35% of the Philippines’ Gross Domestic Product (GDP).
It can be seen in a lot of factors and in fact, we consumers have the actual capability to give a hand to the potential of the SMEs in the country.
Economists recommend that we support our local businesses because it can earn a great deal of productivity in the country’s overall economy. So, the next time that you need to purchase something, head over to the local market to buy food instead of that international grocery chain.
If you plan on buying a dress, ask your neighborhood dress shop for your design instead of that world-famous clothing line. What factors do this have, though?
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