This narrative review synthesizes recent peer-reviewed literature on entrepreneurship and business development in the Philippines, focusing on micro, small, and medium enterprises (MSMEs) that constitute the backbone of the national economy. Literature was identified through searches of Google Scholar, Scopus, and Web of Science using keywords related to MSMEs, entrepreneurship, digital transformation, sustainability, financial inclusion, and entrepreneurship education in the Philippine context. Studies published primarily between 2017 and 2025 were considered, with priority given to empirical and review articles directly relevant to the Philippine setting. Drawing on this body of literature, the review identifies four interrelated trends shaping the Philippine entrepreneurial landscape: digital transformation and technology adoption, sustainable and green entrepreneurship, financial inclusion and access to capital with particular attention to women-led enterprises, and entrepreneurship education as a driver of entrepreneurial intention. The review highlights persistent structural barriers such as infrastructure gaps, limited digital literacy, and constrained access to formal financing, while also pointing to opportunities created by government programs, fintech innovation, and university-based entrepreneurship initiatives. The synthesis is supported by four summary tables and one illustrative figure. The review concludes with policy and practice implications for strengthening the resilience and competitiveness of Philippine MSMEs.