In recent years, the role of women in business in the Philippines has undergone a profound transformation. From small family-owned shops to multinational corporations, Filipino women have increasingly become central figures in the business world, making meaningful contributions to the nation’s economy and development. This evolution has been fueled by a variety of factors, including the country’s progressive policies on gender equality, better educational opportunities for women, and the changing cultural attitudes toward women in the workforce.
Women in the Philippines have long been involved in the entrepreneurial space, often running small businesses such as sari-sari stores (neighborhood convenience stores) or food stalls. However, as access to higher education has expanded, women are now venturing into more diverse industries, such as finance, technology, real estate, and healthcare. With the right education and training, they are carving a niche for themselves as leaders and decision-makers in various fields.
The shift toward greater female participation in the business sector is evident in the rising number of women graduating from universities with degrees in business administration, management, and other relevant fields. The Philippine education system has placed significant emphasis on gender equality, ensuring that women are provided with the same opportunities as men. As a result, women are increasingly filling managerial positions, executive roles, and ownership positions in businesses.
The Philippine government has also played a critical role in supporting women’s advancement in the business world. With the enactment of laws such as the Magna Carta of Women, which promotes women’s rights in the workplace, and the Gender and Development (GAD) budget, which allocates funds for programs aimed at empowering women, the government has created a conducive environment for women entrepreneurs. Through these programs, women have been able to access financial support, technical assistance, and training that help them grow their businesses.
Despite the progress made, women in business still face certain challenges. For one, they remain underrepresented in higher-level positions. Although women are entering the workforce in greater numbers, they continue to face challenges in reaching the top echelons of companies. Factors such as gender biases, limited access to networks, and societal expectations related to family responsibilities often hinder their career advancement.
Access to capital is another hurdle that many women entrepreneurs face. According to reports from the Asian Development Bank (ADB), women are often discriminated against by banks and other financial institutions, which may be hesitant to lend to women-led businesses. This financial bias limits women’s ability to scale their ventures and compete in a broader market.
However, many women entrepreneurs have found ways to overcome these barriers through perseverance and innovation. One example is Margarita Fores, a renowned Filipino chef and entrepreneur who owns several successful restaurants in the Philippines. Fores has established herself as one of the most respected figures in the local culinary scene, proving that women can succeed in industries that are traditionally male-dominated.
In addition to female entrepreneurs, women in the corporate world are also making their mark. Figures like Tessie Sy-Coson, vice chairperson of SM Investments Corporation, and Marilen Chua, CEO of Bank of the Philippine Islands (BPI), have become household names in the Philippine business community. These women have proven that, with the right opportunities and support, women can thrive in even the most competitive and challenging industries.
The continued rise of women in business is helping reshape the business environment in the Philippines, contributing to a more inclusive and diverse economy. While gender equality in the business world has not yet been fully realized, the growing presence of women in leadership positions offers hope for a more balanced and equitable future.
