A Study of Small Business Entrepreneurship towards Technological Innovation

A Research
Presented to
The Public School of Tinajeros National High School

By

Abiday, Jannah
Cantos, Patricia
Delmundo, Roxane
Magallanes, Rocky
Mendoza, Jane
Noquilla, Vissia
Paningbatan, Rizza
Robiso, Cristine
Semblante, Edmar
 Introduction

According to Audra Bianca (2017), “An entrepreneur is a person who owns a small business and

staffs it as needed to meet customer needs. Entrepreneurship means that a business owner will focus on

creating a market for his/her products or services based on a business plan.” It proves that there is a

producer of a product and there is consumers. It is back and forth dealing where each side get its need.

Also, “An entrepreneur is an individual who starts and runs a business with limited sources and planning,

and is responsible for all the risks and rewards of his or her business venture.” stated by Shobit Seth

(2017). In fact, it is about taking risks and attaining the opportunities, even the owner can not make sure

that his/her business will be succeed. The owner must be industrious, skillful and motivated so that the goal

will be attained. In the Philippines, small businesses defined according to the size of assets, size of equity

capital, and number of employees. The Magna Carta for Micro Small and Medium Enterprises (RA No.

6977, as amended by RA 8289, and further amended by RA 9501), define a small business as “Any

enterprise or business activity engaged in the major sectors of the economy whether single proprietorship,

cooperative, partnership or corporation whose total assets inclusive of those arising from loans but

exclusive of the land which the particular business entity's office, plant and equipment are situated, and

ranging from more than P3,000,000 to P15,000,000.”

Doing business in the Philippines has become increasingly tough. This is the realization of many

Philippine firms that face strong competition by companies from different countries which are able to

significantly bring down the prices of their goods because of extremely low production costs. Fortunately,

some Philippines firms however, have remained viable in spite of stiff foreign competition. This is largely

because of their ability to offer differentiated, higher-end products that are valued both in domestic and

international markets. Despite of tough establishing the business, the creation of ventures and innovation in

existing small business enterprises are part of today's innovation process, and should take a central place in

government strategies to promote innovation. Innovation with technology must be used everywhere

because it cause greater productivity and operation. Unfortunately, not all small business are equal in
innovation. There are some old techniques and way of selling that are not nationally competitive. But, in

other hand, innovation has become critical in enhancing the capability of firms to adjust rapid changes in

the business environment. This means not only remaining economically competitive but also being

responsive to social and environmental imperatives. The good thing in innovation is that it requires the

people to do better works than before. It push them to their maximum potential to do works with

excellence. According to McAdam and Armstrong (2001) define innovation as, “The harnessing of

creative ability within individuals and the workforce in response to change, by doing things differently or

better across products, processes or procedures.” Nowadays, workers can not do works in just one sitting.

They need upgrading of their works. Like for example, the garment company, backway, workers use piece

by piece work because the absence of sewing machines. But now, innovation makes the process of sewing

smooth.

Indeed, innovation is needed in small business entrepreneurship. So that, how is the technological

innovation works in the small business entrepreneurship? Does it helps the business works to be productive

efficiently and effectively?