Senator Manuel “Lito” Lapid is seeking passage of a bill establishing a Philippine Entrepreneurs Academy (PEA) that would provide undergraduate and graduate degree programs on entrepreneurship.
In filing Senate Bill No. 2205 or the proposed “Philippine Entrepreneurs Academy Act,” Lapid said it is necessary to establish an academy dedicated to providing a backbone and foundation for the country’s economy especially during this coronavirus (COVID-19) pandemic, and to provide full support to the growth of micro, small and medium enterprises (MSMEs) in the country.
“MSMEs contribute much to our people and to our economy, so we deemed it necessary to establish the Philippine Entrepreneurs Academy to support and develop this sector by providing formal education on entrepreneurship to our people and youth who aspire to set up a business, whether small or big,” Lapid said.
The senator said that aside from catering to technical-vocational, college and graduate students, the Academy shall also promote the relevance of entrepreneurship to job generation and its significant role to the sustainable economic growth of the country.
The measure also seeks to formalize and integrate—under a school system—the non-formal entrepreneurship programs and short-term, technical-vocational courses of the Technical Education and Skills Development Authority (TESDA), Department of Trade and Industry (DTI), Department of Science and Technology (DOST) and other government agencies.
The proposed entrepreneurs school shall also be mandated to administer education and consultancy services, supervise publications on entrepreneurship, and the conduct of scientific and policy-oriented research and training.
Lapid also said the planned PEA shall offer undergraduate and graduate degree programs and short-term diploma or certificate courses on entrepreneurship, including entrepreneurship development in the fields of agriculture, trade, technology, and the manufacturing sector.
The bill proposes to create at least two campuses—the main campus to be established in the Clark Freeport and Special Economic Zone—and the second campus in Baguio City.
In 2019, the Philippine Statistics Authority (PSA) reported that out of 1,000,506 business enterprises, 995,745 or 99.5% are MSMEs. These MSMEs generated a total of 5,510,760 jobs or 62.4% of the country’s total employment.
“In establishing an Entrepreneurs Academy, we are giving more of our people the opportunity to grow their businesses and to secure their success in their endeavors,” Lapid said.
“Let’s make sure that the Academy is open to all who wish to enter into business, whatever their age or social standing,” he said.