Table 2
Projected Demand
Year
|
Market Acceptability
|
Target
Population
|
Annual
Demand
|
2021
|
70%
|
119,872
|
83,910
|
2022
|
70%
|
128,263
|
89,784
|
2023
|
70%
|
137,242
|
96,069
|
B.2. Supply
The supply for the same type of services that the business offers is essential to know to determine whether there is enough supply to meet the industry demands. It is also essential to know the competitors supplying the same type of services to determine the suitable marketing strategy and innovation that can be applied so that the business can have an edge from its competitors.
B.2.1. Past Supply
Annual past supply is computed by multiplying the number of SMEs in the Philippines for the year 2017-2019 based on PSA’s statistical report by the percentage of MSMEs which have already adopted business applications (25%) based on the survey by Tally and Kantar. The average annual growth rate was also based on the annual number of SMEs from 2017-2019 as per the PSA.
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