Overview of Entrepreneurship

Definitions

Entrepreneurship

• Act of creating and scaling a business to generate profit
• Execution of an idea

Entrepreneur

• Derived from the French verb "entre prendre" (to undertake)
• A person who sets up and creates new businesses aiming to make a profit

Businessman

• Only after profit without creating new innovations
• Works with existing businesses rather than creating new ones
• Example: Buys a banana for 5 pesos, sells it for 6 pesos (Businessman)

Importance of Entrepreneurship

• Job Creation: New businesses hire people, creating employment
• Opportunities: Need for suppliers creates opportunities for other businesses
• Government Revenue: New businesses generate tax revenue

Story Example: Arby

• Arby, a cruise ship worker earning 40,000 pesos/month, became unemployed due to COVID-19
• Created chili garlic oil business with 10,000 pesos capital
• First 10 boxes sold out; over 100 boxes sold after two months
• Earnings rivaled his cruise ship salary
• Employed other unemployed OFWs

Relevance to Senior High School Students

• Prepares students for the real world after senior high
• Provides knowledge and training that can be applied after school
• Offers an alternative pathway for students who may not go to college
• Equips students to be more independent and capable of earning

Classroom Activity

• Enumeration task: Answer the items on yellow paper

Conclusion

• Congratulations and stay safe!