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Easing Growing Pains: Supporting The Growth Of Small Businesses In The Philippines, Paulynne Castillo
Easing Growing Pains: Supporting The Growth Of Small Businesses In The Philippines, Paulynne Castillo
Angelo King Institute for Economic and Business Studies (AKI)
In explaining the 2015 survey findings that the Philippines has the second to the lowest existing business rate in the ASEAN region, the Philippine Entrepreneurship Report, 2015-16 stated that “business operations become more burdensome as they grow due to the more restrictive regulations on large enterprises” (Velasco et al., 2017, p. 40). Established businesses, particularly firms operating in the formal sector, shoulder higher taxes and are subject to social security contributions, minimum wage, and industry-specific regulations (Velasco et al., 2017; Auriol, 2014).
Strengthening early-stage entrepreneurial activities and supporting their quest for expansion, however, require access to financial, legal, and public …