Entrepreneurship is still the best solution to beat unemployment
VILLAR: GOVERNMENT CAN PRIORITIZE SUPPORT
FOR BUSINESSES THAT CREATE MORE JOBS

Senate President Manny Villar, an active proponent of entrepreneurship, says that since not all Filipinos can be entrepreneurs, the government should support companies or businesses that produce more jobs in order to improve the worsening unemployment situation in the country. Even in times of supposed improvements in our macroeconomic fundamentals, the growth does not produce jobs that can absorb new labor entrants. While an average of 896,000 workers entered the labor force annually from 1993 to 2005, there were only 758,000 jobs created by the economy during the same period, cites Villar during his speech at the annual convention of the Chamber of Thrift Banks. According to Villar, most of the business sectors or industries that are contributing to the economys growth are those that are not labor-intensive or do not create jobs, thus Filipinos still cannot find jobs and many are opting to seek employment abroad. Villar says, We need an alternative development strategy. To my mind, we need to create a nation of entrepreneurs. We need to enable Filipinos to get out of their comfort zones and be risk takers. We need a generation of wealth creators. We need to educate Filipinos that being a lifelong employee is not the only option. Thrift banks and small-and-medium enterprises (SMEs), according to Villar, play an important role in launching a culture of entrepreneurship in the country as SMEs employ 70% of the countrys labor force. In another interview, Villar cited, Kapag dumami ang maliliit na negosyo, magkakaroon tayo ng mas masiglang ekonomiya. Magtutuloy-tuloy ang benepisyo sa higit na nakakaraming mga Pilipino. Itong ganitong klaseng pagsigla ng ekonomiya, ang mas mabilis mararamdaman ng mas maraming Pilipino. Among Villars advocacies is encouraging the growth of SMEs in the country. Their productivity should also be increased to be at par with other Asian countries. While Philippine SMEs contribute 32% to the countrys Gross Domestic Product (GDP), China throws in 60% while Indonesia puts in 63%, further cites Villar. Villar is the author of Republic Act (R.A.) No. 9178, otherwise known as the Barangay Micro Business Enterprise (BMBE) Act, which was enacted into law in 2002. The measure promotes the establishment of BMBEs by providing various incentives and benefits to entrepreneurs. I will continue to support entrepreneurship. It has worked for me and I know it will work for millions of other Filipinos as well. Its just a matter of determination, hard work and persistence, adds Villar, popularly known as Mr. Sipag at Tiyaga, who was a seafood vendor in Divisoria Market before he ventured into establishing his own real estate business.