News about the Philippine economy is improving does not seem right. Small businesses should be thriving but it does not seem so. In the past year, so many internet cafes and shops closed down in Baguio's CBD. A month ago an eatery cum sari-sari store near my computer shop closed down, then another nearby sari-sari store that virtually had no overhead costs closed down two days ago.
For my internet shop business, it has been down by more than 50% since late 2012. It is marginally getting over break-even in most of the days. Below break-even days in a month is around 60%. Early this morning, my niece who lives nearby, asked if we could sell school supplies in the shop. She's also feeling not well with whatever income she's making. It's a wonder where the economy is making good in the Philippines. Maybe it would be just the big businesses.