Characterizing the Filipino Entrepreneurial Propensity Using the Global Entrepreneurship Monitor Data

Brian C. Gozun
De La Salle University
Manila, Philippines
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John Paolo R. Rivera
Asian Institute of Management
Makati City, Philippines
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Abstract

More than access to financing, attitude towards business is a critical factor for entrepreneurial competitiveness and sustainability. This allows entrepreneurs to participate in the global economy and grab the opportunities that come with globalization. In this study, we address the question of how can attitude towards business and access to financing increase likelihood of entrepreneurship. To answer this, we employ the Global Entrepreneurship Monitor (GEM) and assess how can the mitigation of fear of failure, promotion of the right attitude, and access to various sources of financing improve the likelihood of establishing an entrepreneurial venture. The results show that employment status, gender and age have significant impacts in the entrepreneurial propensity of Filipinos. The results can be used by policymakers to make entrepreneurship a viable and sustainable career choice since most Filipinos do not fear failing in entrepreneurship.

Keywords: entrepreneurship, fear of failure, access to finance,

JEL codes: L26, E24, J13

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