SENATOR Christopher “Bong” Go has filed Senate Bill No. 2113 mandating the inclusion of financial literacy and entrepreneurship as separate core subjects in the junior and senior high school curricula of the K-12 program, amending Republic Act No. 10679 or the Youth Entrepreneurship Act.

The bill aims to promote entrepreneurship among young Filipinos by providing programs and services that support the development of their entrepreneurial skills and mindset.

In the explanatory note of the measure, Go cited that the Global Entrepreneurship Monitor which indicates that 46% of Filipinos have a very positive view of entrepreneurial opportunities in the country, particularly the younger generation who sees it as a viable alternative to employment for improving their social and economic status.

“By teaching financial literacy and entrepreneurship in schools, we can empower our youth to become job creators and be in a better position to contribute to economic growth and development,” said Go.

“Ang kabataan ang kinabukasan ng ating bayan. Bigyan natin sila ng kailangan nilang kaalaman para magkaroon ng mas magandang oportunidad na umunlad. Tulungan natin silang makaahon lalo na yung mga mahihirap,” he explained.

Although entrepreneurship is already included as one of the applied track subjects in the K-12 curriculum, the bill aims to introduce financial literacy and entrepreneurship as separate core subjects, along with mathematics, science, communication, among others.

If enacted into law, the measure will amend Section 4 of RA 10679, which promotes youth entrepreneurship and financial literacy programs in all levels of education nationwide.

As part of the proposal, the Department of Education shall ensure that the K to 12 curriculum shall be supported by programs on entrepreneurship and financial literacy. The bill also proposes that at the elementary level, the programs shall principally focus on the ideal values necessary to become successful entrepreneurs.

Moreover, the bill proposes the creation of separate core subjects on financial literacy and entrepreneurship in the junior and senior year curricula of both public and private secondary schools nationwide.

The Commission on Higher Education and the Technical Education and Skills Development Authority shall also be tasked to ensure the promotion of programs on entrepreneurship and financial literacy.

The proposed bill also suggests amending Section 6 of the Youth Entrepreneurship Act, which defines the duties of the Entrepreneurship Education Committee.

The EEC’s responsibilities include formulating a national plan for implementing the Act, standardizing current entrepreneurship and financial literacy programs in schools and institutions, conducting research on foreign government efforts, providing assistance and training to ensure clear progression of the Act’s objectives, developing mentorship and coaching programs, creating enterprise incubation labs and spaces, coordinating with the Department of Agriculture and Land Bank of the Philippines to develop lending and support programs for agriculture-related entrepreneurship, and conducting multi-sectoral consultations to determine the appropriate content and scope of financial literacy and entrepreneurship subjects.

“Through this bill, we aim to provide programs and services that support the development of entrepreneurial skills and mindset among young Filipinos, particularly in addressing poverty and unemployment,” said Go.

“We want to ensure that our youth are equipped with the necessary skills to become successful entrepreneurs, and this bill is a step towards achieving that goal,” he concluded.