This is the year of the Fire Horse-- 2026-- based on the Chinese zodiac. The seventh in the 12-year cycle of the Chinese zodiac signs, it gallops from February 17, 2026 to February 5, 2027.
In Chinese culture, the horse is considered as the No. 1 of the most important six animals. Horses mirror heroes and talents. They symbolize enthusiasm and energy. They are courageous, enthusiastic, powerful, and elegant.
Horses have a keen eye and display strong logical thinking, towards people’s needs, commerce and trade, most notably popular because of their independence and initiative.
Horses are much like the Philippines’ nano-entrepreneurs: those inevitable and on- the-rise, resurgent one-man-show traders---”solopreneurs” who operate out of their homes or on foot, such as the friendly handyman, mobile beautician, backyard barber, or the man on the street offering itinerant services like repairing shoes or selling snacks.
But even nano as they are (being the smallest of enterprises), President Ferdinand Marcos, Jr. sees them: “They play a very important but often unrecognized role all across our countries… They are largely unaccounted for, but these informal business settings constitute a large portion of all our economies. They narrow and bridge the gap of development,”
Joey Concepcion of Go Negosyo, in a May 15, 2023 article, narrated that the President appealed on behalf of these entrepreneurs when he spoke at the 42nd ASEAN Summit week. “Addressing the leaders of the ten ASEAN member-states and their partner-states, as well as the heads of some of the biggest companies in the region, he implored them to support nano businesses, saying they have the potential to contribute to the region’s economic growth and narrow the development gap.”
The numbers from the Department of Trade and Industry bear this out. As a group, Micro, Small and Medium Enterprises account for more than 99 percent of businesses in the Philippines. Broken further down, micro entrepreneurs constitute 90.54 percent. ‘One can only imagine how many of these micro entrepreneurs started out as nano-entrepreneurs, and how many more are out there,” he added.
“So how are nano-entrepreneurs different from freelancers? I suppose it is the entrepreneurial mindset. Where freelancers plug into existing organizations and provide services in exchange for a fee, nano-entrepreneurs work for themselves with a vision of one day growing a business. Nano-entrepreneurs do not stop at supplementing their income; they are focused on growth. These two, I believe, are not mutually exclusive; freelancers can blossom into entrepreneurs,” he shared.
The rise of the nano-entrepreneur
Concepcion furthered: “Digitalization has also given birth to many nano-preneurs. Riders of companies invest in motorcycles and use the apps to access the market. Influencers and content creators use their skills to serve in the space that was once dominated by ad agencies and celebrities. These nano-preneurs turn their skills into a business, and because the tools and opportunities are democratized, anyone can enter the game and have an equal chance at succeeding.”
“These small entreps, up to micro, I would think, are not yet part of the formal economy. They do not yet pay taxes, issue receipts or have a payroll. But imagine if they had the path cleared so that, in time, they will be part of the formal economy. Their contribution will be substantial, just owing to their sheer number. By helping them, we create a wide base of active, dynamic businesses, able to move swiftly to adapt to difficulties and innovate as the market dictates.”
“They are resilient, but for far too long, have been neglected and shut aside in favor of the giants. Yet they plod on, day by day, providing us those small, barely perceptible but essential services, making and selling products we didn’t even know we needed.”
Nano businesses: The people’s businesses
It was the Quezon City government which took a bold initiative to empower nano-entrepreneurs, by institutionalizing City Ordinance 3272, a comprehensive framework to support and uplift small businesses, which include eateries and sari-sari stores among others.
Under the ordinance, nano-entreprises are defined as businesses run by self-employed individuals or sole proprietors with assets not exceeding P50,000 and gross sales or receipts below P250,000.
With a simplified system in place, the city government established a seamless economic flow, allowing the nano-entrepreneurs to focus on what they do best: running their businesses. More than easing the administrative burden, the ordinance spares nano-entrepreneurs from paying local business taxes and regulatory fees, a much-needed reprieve that can make a significant difference in their bottom line.
Describing nano-entrepreneurs as the unsung heroes keeping communities thriving, Quezon City Mayor Joy Belmonte said: “As a way of recognizing the vital role that nano-entrepreneurs play in our local communities, we will provide them with the necessary support to thrive.”
Galloping with the nanos the BDO way
Ever finding a way, BDO Unibank, Inc,. through the BDO Foundation ,teamed up for “Ayusin ang Pera, Palaguin ang Negosyo,” a learning session on financial literacy and entrepreneurship held at the Amoranto Sports Complex in Quezon City.
The more than 200 nano-entrepreneurs were welcomed to the year of the Fire Horse by BDO Foundation and the Quezon City Small Business Cooperatives Development and Promotions Office in a forum facilitated by Chinkee Tan, who shared lessons with his signature mix of wit, humor, and practical advice.
The nanos learned essential skills, mindset, and attitudes needed to start, manage, and grow a business. Sari-sari store owners, market vendors, and other self-employed individuals with a small capital gained practical insights from the Pambansang Wealth Coach as he drew from personal experiences and challenges.
Aside from the learning session led by Chinkee Tan, participants were also briefed on the Nano-Enterprise Registration Program of the Quezon City Government. The briefing was aimed at encouraging nano-enterprise owners to register their businesses with the local government. During the session, participants were informed that registered nano-enterprises may avail of tax and registration fee exemptions, in accordance with existing local ordinance.
Quezon City Small Business Cooperatives Development and Promotions Office Department Head III Mona Celine Marie V. Yap, emphasized that similar capacity-building activities are available to Quezon City small business owners at no cost through partnerships with various organizations, including BDO Foundation.
“Similar to financial literacy events like these, you can avail of free training given by our partners,” she said.
For his part, BDO Foundation President Mario A. Deriquito said BDO Foundation remains steadfast in its commitment to advancing financial inclusion: “At BDO Foundation, we believe that with the right knowledge in finance and entrepreneurship, business owners will be more prepared to make better decisions and plan for the future.”
Through this collaboration, BDO Foundation remains steadfast in its commitment to advancing financial inclusion — empowering business owners with the right knowledge and confidence needed to be more prepared in planning and deciding for their future, he said. (JTD/SunStar Pampanga)