Contribution of the Business Sector in Philippine’s Development

Since the end of World War II, the Philippine rescue has been on an unfortunate trajectory, going from one of the richest countries in Asia (following Japan) to one of the poorest. Growth outright after the war was rapid, but slowed over time. Years of economic mismanagement and political volatility during the Marcos regime contributed to economic stagnation and resulted in macroeconomic instability.A severe recession from 1984 through 1985 saw the economy cringe by more than 10%, and perceptions of political instability during the Aquino administration pull ahead dampened economic activity. But in recent years, the Philippine economy is belatedly doing its best to increase its economic development. Due to the strong post-crisis, the Philippines continues to face challenges and moldiness sustain to achieve economic growth. Thus, the role of argumentation enterprises is essential in pulling up the countrys economic development.One of the biggest contributions of the business l ine sector in Philippines development is through embellishments. They invest in society so that nobody falls out of the market. They withal invest in building and maintaining capital resources to reduce cost of doing break efficiency and invest in brand-new and innovative technologies that create new services that promote public good. The business sector dominates the Philippine economy contributing a big part to the countrys GDP. These occult enterprises hire workforce and so uplift employment rate.The Philippine business sector has demonstrated a wide range of innovative initiatives aimed at maximizing their positive social, economic and environmental impacts on the communities where they operate and on the society in general. The business sector does not only bid employment but also has a corporate social business through providing opportunities for education, communications, engineering and financial supports. That is why the business sector plays an significant role in the Philippine economic development.