1. Entrepreneurship in the Philippines has a long history and was influenced by colonial rulers like Spain and the United States. 2. Under Spanish rule, entrepreneurship was limited mainly to agriculture, while the US promoted export of raw materials. 3. The Japanese occupation during World War 2 halted economic activity, but after independence some local industries developed before being overwhelmed by imports due to economic liberalization policies. 4. Martial law saw economic control shift to foreign and crony businesses, leaving the country in debt, while recent administrations have focused on export zones, OFW remittances, and agriculture to promote recovery.