Taking back migrants: A theoretical investigation on the low propensity of entrepreneurship in OFW-dependent households

In light of different Philippine economic issues, it can be said that this country is evolving and is constant at the same time. This evolution and consistency are present in the opportunity-seeking behavior of Filipino households. One aspect of change is the higher engagement of households in entrepreneurship as reported by GEM (2014a). Data on entrepreneurship presents the Philippines with an early-stage entrepreneurship (TEA) rate of 18.4%. GEM (2014b) stated that this rate is higher than the average start up rates of Asia and Oceania (13%); which implies that Filipino households, relative to their counterparts in these regions, are more active in self-employment. On the side of constancy, the propensity for members of Filipino households to migrate remains the same. The Philippine economy is characterized by very high migration rates. In fact, the Commission on Filipinos Overseas (CFO, 2013) estimated that over 10 million Filipinos - or some 10% of the Philippine population - were working abroad in 2013