SENATOR Joel Villanueva called for a shift in mindset from wage employment to self-employment through the establishment of the Philippine Entrepreneurs Academy.

He sponsored Senate Bill 2205 under Committee Report 585. The bill seeks to create the academy that will provide degree programs and training on entrepreneurship.

The chairman of the Senate Committee on Higher, Technical and Vocational Education said that the academy can spur economic growth.

“The Philippine Entrepreneurs Academy can help shift the mindset of young people from wage employment to self-employment. It can also stimulate the establishment of high-value enterprises or micro, small and medium enterprises in the country,” he said.

The senator said that MSMEs are the backbone of the economy, making up 99 percent of businesses in the country and employing roughly 2/3 of the total workforce.

“Filipinos have to think of more innovative ways of making a living in this pandemic. Some have resorted to becoming entrepreneurs and establishing businesses in the MSME sector,” he said.

He added that the pandemic hastened digital transformation as jobs are no longer tied to factories or offices and the workplace can be anywhere where there is internet connection and a smartphone or laptop.

“We need to nurture our future entrepreneurs and digipreneurs or digtal entrepreneurs for the Fourth Industrial Revolution in the country. This Academy is an intervention that will help business-minded people capitalize on the opportunities that the new normal presents,” the senator said.