“More than half, or 64%, of Filipino micro, small, and medium enterprises (MSMEs) entered business due to deeply personal reasons, primarily to achieve financial independence for their families, according to a July survey by the Boston Consulting Group (BCG), a global management consulting firm.
“Most Filipino MSMEs are in business for deeply personal reasons. They started their business to achieve financial independence for their family—that’s the number one driver,” Jamie Bawalan, Principal at Boston Consulting Group told BusinessWorld.
“Others mention putting their kids through school or doing something they’re passionate about. These are personal goals, not corporate ones,” she added.
