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Enhancing External Participation of Philippine MSMEs Towards Entrepreneurial Venture Growth

Alongside profit maximization and value creation, enterprises are in the pursuit of entrepreneurial venture growth. The need to pursue entrepreneurial venture growth given the risks brought about by a volatile, uncertain, complex, ambiguous, and disruptive (VUCAD) world (Rafael et al., 2020) is vital to sustain entrepreneurs’ income, to continue generating employment, and to continue providing value-adding products and services for society. However, entrepreneurial venture growth requires the capacity to produce products that are acceptable to the market; and the level of support given to enterprises to help them produce, innovate, and gain market access. Various functional areas of the business and government can work together to achieve this objective. From an empirical analysis of the Philippine Global Entrepreneurship Monitor (GEM) Adult Population Survey (APS) for 2006, 2013, 2014, and 2015, an auxiliary strategy was derived to make this happen.


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