In 2019, 34% of nanoenterprises consider themselves as non-poor. This worsened to 16% in 2021. Conversely, those who considered themselves poor or within the poverty line rose from 66% to 84% in 2019 and 2021 respectively.
Nanoenterprises that resumed operations for the fourth quarter of 2021 is the lowest for the year at 22%. The rate is higher compared to the 17% rate recorded in the same quarter last year.
Majority or 65% of nanoenterprises experienced weak demand for their products and services in spite of the fourth quarter of the year typically exhibiting the strongest. Although this is already an improvement compared to the 75% recorded at the same quarter last year.
These finding point to a slower than expected recovery at the grassroots level due to the Delta variant surge of COVID-19. Ironically, there were no reported confirmed nor of any probable or suspect COVID-19 cases among the respondents.
Almost all of the respondents or 97% have already been vaccinated and all are willing to get vaccinated. This is an improvement from 40% vaccination rate and 40% vaccine hesitancy rate the previous quarter.
From almost everyone (98%) receiving relief goods from the government last 2020, this dropped to 43% for 2021. Those who received relief goods this year said that the goods were enough to last them for two days.
Six out of ten respondents said that they received cash assistance from the government at various periods of the year. The average cash assistance received was PhP3,711. Almost three out of ten (28%) were able to participate in the government’s work for pay program.
SEDPI provides social safety nets as well as capital to finance nanoenterprise livelihoods. It’s impact assessment for 2021 resulted in positive attribution of the following indicators:
|SEDPI helped in…||2019||2021|
|education of children||70%||85%|
|improving housing condition||67%||99%|
|increase in income||82%||100%|
More nanoenterprises felt the assistance of SEDPI in 2021 compared to 2019. The social safety nets such as death benefit and financial assistance for medical, accident, calamity and fire through its damayan system; as well as socially responsible financing that do not accrue interest or impose penalties on capital borrowed in times of calamities – were more pronounced due to the negative effects of the pandemic.
Profile of respondents
For this edition of rapid community assessment there were 1,009 respondents. Most are female (90%), married (72%), and operate their own business or earn wages (89%). Their average age is 40 and are from the provinces of Agusan del Sur, Davao de Oro, Davao del Norte 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
Watch videos on money management
Subscribe to Usapang Pera Youtube channel
Get in touch with Sir Vince
Join online groups of Sir Vince
Join Sir Vince blog newsletter