Ideas & Opportunities

And just like that, it’s the end of another year and the beginning of another one. And for the hardworking Filipino entrepreneur, the year has, overall, been a good one.  [Read about the 10 Outstanding Entrepreneurs of 2010 here]

From January to July,  net inflows of foreign direct investments reach $954 million, reflecting the positive outlook of investors on the country’s growth momentum together with the new administration. And according to the National Statistical Coordination Board, the country’s gross domestic product, the sum of all the good and services produced within the country, grew by 6.5 percent, higher than the  government target of between  five  and six  percent. And as Entrepreneur Philippines celebrates its 10th year this year, we look back at the 10 events that have shaped the entrepreneurial landscape in the past year.

1.    Jollibee Takes a Bite of Mang Inasal


Who would’ve thought that a small fast-food kiosk that began with a 250 sq m space in the parking building of Robinsons Place Iloilo seven  years ago would turn out to be the one of the country’s leading fast-food chains today? Jollibee did.

In what has since become a shining example of Filipino entrepreneurship and the biggest story of the year, in October of this year, fast-food giant Jollibee Foods Corp. announced their plans to acquire 70 percent of Mang Inasal to the tune of P3 billion. And in November, the deal was finally, well, finalized.

At present, Mang Inasal has 312 stores nationwide, 28 of which are company-owned while 284 belong to franchisees. Meanwhile, Jollibee has 703 stores in the Philippines, with 37 outside the country. [Read about Jollibee retaining Injap as Mang Inasal president here]

According to JFC chair and CEO, Tony Tan Caktiong, “Mang Inasal has successfully grown the grilled chicken in the Filipino cuisine segment of the fast food industry. It has been the fastest growing network in the Philippine food service business in the last three years, behind very good tasting food, excellent value, and focused branding.”

Considering that Mang Inasal has revenues of P2.6 billion a year, with system-wide sales of P3.8 billion, the price tag is spot on. Meanwhile, JFC, which also holds Chowking, Greenwhich, Red Ribbon, and Manong Pepe’s, made P38.4 billion for the first nine months of 2010, with system-wide sales of P50.8 billion in the same period.

Edgar Injap Sia III, the man behind Mang Inasal, was one of Entrepreneur Philippines’ 10 Outstanding Entrepreneurs for 2009.

The result was an instant hit. Now, more than 2.4 million Philippine map-embroidered shirts later, Collezione is back on the, well, map, and fashionalism has never been bigger.

As the country’s central business district, Makati has become the headquarters of many multinational companies, banks, embassies, exclusive villages, shopping centers, and high-rise condominiums. In 2009, Makati City posted revenues close to P10 billion, second only to Quezon City with P10.5 billion.

And the company that’s been at the helm of Makati’s transformation is Ayala Land, Inc. As one of the country’s leading real estate developers, they have been primarily responsible for bringing the old Makati district into the center of commerce it has become today. And now, the city is about to transform once again.

Ayala Land recently unveiled its P20 billion plan to redefine the Makati Central Business District into—not just a commercial and business center—but a growing community where its residents are given easy access to the city’s new and better features, while growing the area’s natural scenery.

For starters, the redevelopment plan includes constructing more buildings—a Holiday Inn hotel, the Raffles complex, two BPO buildings, and two residential towers. There are also plans to improve the pedestrian framework and transport system through the creation of underground walkways, gateway structures integrated into the transport system, and a revolutionary Bus Rapid Transit system.

And then it gets better. Plans for redeveloping the Ayala Center with more retail shops and residential address are also underway, and expanding the city’s leisure spots like the Ayala Triangle Garden are also underway aimed to bring nature in the middle of the Makati urban jungle. Now, more than ever, businessmen and entrepreneurs are looking towards Makati as the place to be and live.

 

A few months later, Multiply created Multiply Market Place, the destination for all retail on the site, and created the Multiply Trust program to boosting the confidence of a buyer with sellers who have consistently delivered on the credibility and accuracy of their products

"Given the strong entrepreneurial spirit of people in the region, we are far from reaching the saturation point," said Claudio Pinkus, executive chairman of Multiply. In Southeast Asia alone, there are over 13 million users of Multiply with more than 55 percent using the Website as a shopping site. Now, more than 50,000 sellers from the country are on the site.