Enterprising step in right direction

Filipino nationals in the UAE are increasingly setting up their own small businesses, providing a valuable boost to the local economy.

By some estimates, small and medium enterprises make up 85 per cent of all businesses in the UAE. The Filipino community is estimated to be about 500,000 strong. The move from selling their skills and labour to entrepreneurship is being driven in part by an effort to secure their future at a time when many large companies are struggling to cope with global economic slow down. In addition, the UAE is a country that encourages entrepreneurship.

Importantly, the Filipino entrepreneurs are not depending on bank loans to set up their enterprises, choosing rather to work and save until they have enough capital to start a business. Successful entrepreneurs have to build their businesses with their own sweat and cash, especially at a time when banks are proving reluctant to invest in anything they deem to be "risky". The Philippine Embassy has been supporting these entrepreneurs by providing them with training in the skills needed to save capital and to manage a business. These skills will stand the entrepreneurs in good stead, while they are in the UAE and when they return home to start new businesses.