The number of nanoenterprises who said they already recovered from the negative effects of the pandemic almost doubled from 36% to 63% compared to the same quarter last year.
All nanoenterprises are optimistic to recover from the pandemic. The remaining 37% estimate that they will be able to recover in the next four months.
During this period, the government already rolled out COVID-19 vaccination for frontline health workers and is in the process of procuring more vaccines to serve the general public. There were 12 confirmed and 59 suspected COVID cases out of the 8,096 respondents.
Amid the optimism is subdued recovery. More than half (53%) reported that their livelihood slightly weakend. They said (64%) this is due to weak demand in the market.
Access to supply is good as 82% of the are able to procure materials for their livelihood. This is an improvement from 73% of the first quarter of 2021.
The previous quarter rapid community assessment showed that 26% of nanoenterprises adopted e-commerce in an effort to sustain their livelihoods. This improved to 41% for the second quarter of 2021.
Three out of 10 regularly purchase goods online that they resell in their community and 45% have experience purchasing goods online for their household needs.
Mobile phone ownership increased from 65% a year ago to 77% this year. The number of basic phone ownership dropped from 39% to 19%, while ownership of Android phone increased from 24% to 68%.
Computer ownership doubled from 4% to 8% in the same period. Internet access improved from 32% to 61% and social media account ownership increased from 47% to 59%. Bank account ownership also increased from 8% to 44%.
Overall financial inclusion and digitalization improved to cope with restrictions that arose from the lockdowns.
A third of the respondents (35%) are already vaccinated. Three out of four of the remaining unvaccinated, are unwilling to get shot. The reasons given for vaccine hesitancy are the following: fear that the vaccine may cause death (46%), severe side effects (32%), vaccine is ineffective and unsafe (13%); and infertility (10%).
Majority of the respondents (58%) are not sure whether the vaccines the government is currently procuring is effective and safe. There were 37% who said that they believe these are effective and safe while 5% said outright that they do not believe it is effective and safe.
Only 23% of the respondents were able to answer that COVID-19 vaccine will not result to 100% immunity from the virus. Almost half (44%) correctly pointed out that vaccination will provide protection from severe infection and death.
In spite of the lack of trust in the vaccines the national government is procuring, most of the respondents (82%) said that they believe the local government units are effective in managing the pandemic.
Profile of respondents
Most of the respondents are female (86%), married (72%), and operate their own business or earn wages (95%). Their average age is 42 and are from the provinces of Agusan del Sur, Davao de Oro and Surigao del Sur.
Nanoenterprises are smaller than microenterprises. These are unregistered livelihoods of self-employed individuals that have capitalization of less than PhP50,000. SEDPI estimates that the vast majority of the entrepreneurial poor in the Philippines are nanoenterprises, at around 8 million.
Sources of information and practical tips on money management
Mga bagay na dapat mong malaman sa insurance
Mga iba pang babasahin tungkol sa insurance:
- Iba’t-ibang klase ng insurance
- Must-have insurance for people in their 30s
- Ang pinakamatatag na insurance company sa Pilipinas (Part 1)
- Ang pinakamatatag na insurance company sa Pilipinas (Part 2)
- Anong insurance dapat mayroon ang mga bata?
- Gusto kong paghandaan ang future ng anak ko, tama bang investment-linked insurance ang kinuha ko?
- Paano gumagana ang ibinabayad na premium sa insurance para mabigyan tayo ng proteksyon sa panahon ng emergency
- Kung akala mo insurance ang education plan, basahin mo ito
- Insurance para sa mahirap
- Bakit mahal ang VUL o investment-linked insurance
Mga bagay na dapat mong iwasan sa insurance
Ito ang listahan ng mga articles na isinulat ko at videos na nagawa ko tungkol sa VUL para makakuha tayo ng mas sulit at mas epektibong insurance coverage.
- Bakit mahal ang VUL?
- Bakit mas maganda ang BTID kaysa VUL?
- Epektibong paggawa ng BTID upang masulit ang pinaghirapang pera sa insurance at investment
- Paanong mas maliit ang fund value sa VUL kaysa sa BTID?
- Ok ba talaga ang VUL kasi protected ka nito beyond 65 years old compared to term?
- Ok ba talaga ang VUL para sa estate taxes?
- Why Not VUL?
- Anong gagawin ko kung may VUL na ako? Paano ko ito ititigil?
- Pagkakaiba ng savings sa VUL
- Mga terms and conditions na kailangang hanapin kung bibili ng VUL
- Paano pumili ng mabuting insurance agent
Different kinds of investments
Preparing for retirement
How are articles on retirement
- 10 Commandments of retirement
- Mga kinakatakutan ng retirees at paano ito paghahandaan
- Magkano ang matatanggap mong SSS pension upon retirement
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