National Economic and Development Authority Deputy Director-General Rolando G. Tungpalan urged ordinary citizens to step up to the challenge of creating socially-relevant enterprises.
Speaking at the first anniversary of the Institute for Social Entrepreneurship in Asia held recently at the Ateneo de Manila University, Tungpalan said "ordinary citizens and the private sector are the stars in this social entrepreneurship movement".
"While we in government strive to provide an enabling environment, it is the citizens who will have to act and initiate the formation of these enterprises," he stressed.
"Social enterprises integrate social development bottom line with the financial profit bottom line and as such, challenge the traditional model of a private enterprise. And rather than just provide grants to finance development programs, social enterprises are driven by business models that ensure the sustainability and achievement of socioeconomic objectives" explained Tungpalan.
The NEDA official cited government efforts in promoting social entrepreneurship, which he says plays an important role in achieving poverty-reduction goals. He said that the Medium-Term Philippine Development Plan calls for the development of an "entrepreneurial culture" by improving access to information, raw materials, training, fund sources, and the latest technologies. He added that government is stepping up efforts to expand microfinance.
Speaking at the first anniversary of the Institute for Social Entrepreneurship in Asia held recently at the Ateneo de Manila University, Tungpalan said "ordinary citizens and the private sector are the stars in this social entrepreneurship movement".
"While we in government strive to provide an enabling environment, it is the citizens who will have to act and initiate the formation of these enterprises," he stressed.
"Social enterprises integrate social development bottom line with the financial profit bottom line and as such, challenge the traditional model of a private enterprise. And rather than just provide grants to finance development programs, social enterprises are driven by business models that ensure the sustainability and achievement of socioeconomic objectives" explained Tungpalan.
The NEDA official cited government efforts in promoting social entrepreneurship, which he says plays an important role in achieving poverty-reduction goals. He said that the Medium-Term Philippine Development Plan calls for the development of an "entrepreneurial culture" by improving access to information, raw materials, training, fund sources, and the latest technologies. He added that government is stepping up efforts to expand microfinance.
Tungpalan, who is also presidential spokesperson for economic affairs, added that government is working with the donor community, private sector and civil society to encourage the development of social enterprises.
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