5 Inspirational Stories of Successful Entrepreneurs in the Philippines

Inspirational stories of successful entrepreneurs - Philippines ranks as the 9th most gender-equal nation in the world, according to the 2014 Global Gender Gap Report published by the World Economic Forum.

The recent MasterCard Worldwide Index of Women’s Advancement also showed that the Philippines is one of only 2-countries in Asia Pacific with more than 50 female business and government leaders and business owners for every hundred of their male counterparts. The other is New Zealand (NZ).

Entrepreneurship requires a special kind of people; someone who is willing to risk it all for the fulfillment of a dream. The statistics aren't encouraging for individuals who want to attempt entrepreneurship. Only 55 percents of start-up businesses remain operational after 5-years. Nearly 80 percents have closed by year 10.

An entrepreneur is a risk takers. He want to be in the driver’s seat all the time. He takes chances but doesn't mistake his risk-taking nature as that of a gambler. The difference between an entrepreneur and a gambler is that an entrepreneur takes calculated and educated chances. A Gambler is reckless, has no discipline, and usually gives in to his weaknesses.

In the meantime, be inspired of these inspirational stories from five (5) of the most successful entrepreneurs in the Philippines.

1. Henry Sy - "Shoe Mart"

Henry Sy

Shoe Mart is more than just a shopping mall. It's a beloved institution from shopping, watching blockbuster movies, date night, ice skating to food tripping, Shoe Mart has it all.

However, this gigantic chain of more than forty-four large-scale shopping centers in the Philippines and throughout Asia has very humble beginnings.

Henry came from an impoverished family in Jinjiang, a town near Xiamen, China. The entire family left China in 1936 to help the family patriarch manage a thriving convenience store in Manila, Philippines.

Unfortunately for his family, their store was burned down during World War II. However, business-minded Henry saw an opportunity selling used military combat boots and other postwar goods from supportive American soldiers!

Henry's success led to the opening of his first shoe store, the SM (Shoe Mart) in Avenida, Manila. He had problems finding shoe manufacturers who could design shoes according to what he had in mind, but he persisted. Henry spoke to customers and built his own network of suppliers and manufacturers.

That never-say-die attitude got Henry to where he is now: one of the richest men in the world and a world-class commercial center developer who provides opportunities to both entrepreneurs and the working class.

2. Tony Tan Caktiong - "Jollibee"

Tony Tan Caktiong

If we thought we only loved The Champ and Chicken Joy, then be prepared to be inspired by the man behind the franchise.

Coming from an immigrant family from China, Tony Tan learned the value of hard work and dedication from his father who worked as a cook in a Buddhist temple. His father started a Chinese restaurant in Manila with his savings so he can send him to college.

In 1975, Tony Tan bought a Magnolia ice cream parlor. However, it wasn't generating enough business. After talking with his customers and people within the neighborhood, Tony Tan decided to include sandwiches, fried chicken, and French fries in the menu. In time, the restaurant found itself packed to overflowing capacity.

By 1978, Tony Tan had opened 6-more restaurants, but the main item was no longer ice cream. He then decided to adapt the McDonald’s concept and named his franchise after his work ethic of being as “busy as a bee.”

Today Jollibee has grown to more than 2,500 stores in the Philippines plus locations in the United States, China, Vietnam, Saudi Arabia, Brunei, and Singapore.

3. John Gokongwei Jr. - "JG Holdings"

John Gokongwei, JR.

John Gokongwei's life story is a “rich-to-rags-to riches” story. John Jr. was born in China to the scion of one of the wealthiest families in Cebu.

When his father died, so did the business and the family fortune was soon gone. He supported his family by peddling items along the streets of Cebu by bike. Soon, John was trading items by boat to Lucena City and to Manila by truck. Eventually, John started importing items from the United States.

John soon realized that importing carried too much risk and low margins. Thus, in 1957, John borrowed Php 500,000 from China Bank and started a corn milling business named Universal Corn Products.

By 1961, Universal started diversifying its products and launched several popular brands such as Blend 45. Universal Corn Products was renamed Universal Robina Corporation.

Today, the Gokongwei family owns several successful and highly diversified businesses. Among these are Robina Land Corporation and Cebu Pacific.

4. Socorro C. Ramos - "National Bookstore"

Socorro C. Ramos

Socorro's story is a stuff for telenovela, and frankly, we're surprised the networks and movie outfits have not caught on.

Girl’s brother marries scion of a wealthy bookstore owner in Manila. The girl finds job as a saleslady at 18-years old, meets and falls in love with the son of the owner; thus, he's technically her in-law! Their parents forbid the relationship and sends her back to the province. However, this boy and girl's love is so strong, they stand up to the parents, get married, and have twins.

He takes over a branch with the girl, and they renamed it in National Book Store. However, a war breaks out, and the store is destroyed! They rebuild the store, but everything is held under suspicion of being “questionable.”

They relocate the store in Avenida, but as the business picks up, a storm destroys their roof. Soon, they rebuild the store, and every centavo is used to build a 9-story National Book Store.

She is Socorro and the boy is Jose. Today, National Bookstore has grown to over hundred stores. Despite digital technology, it continues to flourish!

5. Cecilio Kwok Pedro - "Lamoiyan Corporation"

Cecilio Kwok Pedro

Cecilio Kwok Pedro used to head Aluminum Container Inc., which produced the aluminum toothpaste tubes for Procter and Gamble, Philippine Refining Company (now Unilever), and Colgate-Palmolive.

However, environmental concerns led Cecilio's clients to shift to plastic-laminated toothpaste tubes. Aluminum Container Inc. failed and closed its shop in '86.

Cecilio put up Lamoiyan Corporation and manufactured toothpaste that was priced 50 percents lower than his competitors.

These included the still-popular brands Hapee and Kutitap. Although the foreign brands countered by lowering their brands by 20 percents, he responded by introducing toothpaste targeted for children that featured the characters from Sesame Street. His brands have made it to other markets in Asia, such as China, Vietnam, and Indonesia.

His greatest accomplishment wasn't limited to manufacturing. Cecilio’s also known for his advocacy to help hearing-impaired people find employment in the country.

Cecilio’s programs include free housing for more than thirty deaf–mute staffs. To date, more than 180 hearing-impaired students have received college education through Deaf Evangelistic Alliance Foundation (DEAF).