Given the sorry state of our economy (not to mention my/our personal finances), is there any room for entrepreneurship in the Philippines? Or are 90% of business that start up doomed to fail even before they begin?

I for one have been wanting to start a business either with family and friends. We have been excited over so many ideas for so many times. It's been 5 years since I graduated from college. I'm still a corporate sell-out and all of our business ideas have stayed just that: ideas.