Department of Education

National Capital Region

Division of Taguig City and Pateros
MOREH ACADEMY
RIGHTEOUSNESS AND EXCELLENCE
Ricahuerta Street Cor. A. Bonifacio Avenue, Upper Bicutan, Taguig City

The challenges faced by Entrepreneurs around Upper Bicutan and its Benefits to the aspiring student

entrepreneurs from Moreh Academy in starting up a business S.Y 2019-2020: Entrepreneurship Education

Seminar

Chapter 1

THE PROBLEM AND ITS SETTING

Introduction

These days, almost everyone has the dream of starting their own businesses or companies. After all, what could be better than

being your own boss and bringing your passion project to the world? According toa study by QBO Innovation Hub and PwC

Philippines, a new generation of young, tech-savvy digital makers is emerging—all of whom consider themselves as early adopters of

new technology merge in entrepreneurship, this shows that innovation and creative new ideas are not a problem. So if the students are

interested and have new innovations to present to the market, why is the number of students being an entrepreneur is not increasing? Of

course, jumping into the entrepreneurial world can be a bit intimidating, they are afraid to take risk especially if they fall for the myth

that ninety percent of startups fail.

Entrepreneurship is a key element of growth and development prospects for all countries.Entrepreneurs can change the way we live

and work. If successful, their revolutions may improve our standard of living. In short, in addition to creating wealth from their

entrepreneurial ventures, they also create jobs and the conditions for a flourishing society. A nation how so ever rich in material

resources, cannot prosper if its resources are not put to productive use, for this purpose, energetic entrepreneurs are needed who can

contribute effectively for national prosperity. The only solution is promotion and development of Entrepreneurship, as

entrepreneurship aims at making an individual a job provider and not a job seeker. And to whom should the entrepreneurship be

promoted? Of course, to the future leaders of the country which are the students.

But the main problem is many are encouraged, but are also scared to start up a business because of failure and many other things

that you will encounter in this research. With this study, students from Moreh Academy will learn things that entrepreneurs around

Upper Bicutan faced so that they may create counter strategies and may ease their anxiety and fear in starting a business.But of course,

every entrepreneur faces their own share of struggles or challenges. However, there are some that are similar and cut across every

industry. Such challenges provide great entrepreneurial lessons when one overcomes them so it will be beneficial.
 Department of Education
National Capital Region
Division of Taguig City and Pateros
MOREH ACADEMY
RIGHTEOUSNESS AND EXCELLENCE
Ricahuerta Street Cor. A. Bonifacio Avenue, Upper Bicutan, Taguig City

Background of the Study

“ Entrepreneurs throughout modern economic history…have been disproportionately responsible for truly radical innovations – the

airplane, the railroad, the automobile, electric service, the telegraph and telephone, the computer, air conditioning, and so on – that not

only fundamentally transformed consumers’ lives, but also became platforms for many other industries that, in combination, have

fundamentally changed entire economies.” -- (Robert Litan and Carl Schramm, Entrepreneurs)Entrepreneurship is the dynamic process

of creating incremental wealth and innovating things of value that have a bearing on the welfare of an entrepreneur. It provides

civilization with an enormous amount of goods and services and enhances the growth of social welfare. The main importance of

entrepreneurship is the creation of job opportunities, innovation, and improves the economy. (Shadhin Kangal ,2016)

The man behind the entrepreneurship is an action-oriented and highly motivated individual who is ready to achieve goals. M.

Kirzner (1973) observes entrepreneurs as; “one who perceives what others have not seen and acts upon that perception”. Thus,

entrepreneurs take the economy and the society that is the whole civilization to the state of progress and prosperity.Governments and

local communities across the world have recognized that key to building prosperity and stimulate regional growth is fostering

entrepreneurship among their people especially Youth students. Student entrepreneurship has become a topic of interest for research

scholars and also a subject of major concern for the Governments. In recent years, more than half of the Philippines’ jobless sector

comprises the youth. This warrants the need to identify the constructs and create policy frameworks that would facilitate employability

and entrepreneurship among the Filipino youth.

Over a quarter (twenty-six percent) of students currently run or plan to run a business whilst they are at school, according to new

research from Santander Universities. Amongst those up-and-coming student entrepreneurs who have already launched a business or

those who aspires to be one, it increases compared the average turnover recorded in 2016.

Entrepreneurship can provide the solution by creating wealth, jobs, and social empowerment. If we are to address the issue of

poverty with some degree of success, history tells us we have no choice In the Philippines, entrepreneurship is viewed as important to

empowering the poor, enhancing production, and as an impetus to innovation. Though of course, being an entrepreneur also have its fair

share of disadvantages aside from the fact that there are more advantages. The disadvantages are more on the personal side of the

entrepreneur, having no defined salary and work schedule. But nonetheless,The 1987 Philippine Constitution still recognizes

entrepreneurship as an engine of economic growth. Article XII Section 1 highlights the role of private enterprises in supporting equitable

distribution of income and wealth, sustaining production of goods and services and expanding productivity, therefore raising the quality

of lifebut to actively encourage entrepreneurial ventures.

What more if the students, whom the next potential leaders of the country, pursue an entrepreneur career? Promoting Student

entrepreneurship will not only help in reducing unemployment but more importantly make young people understand that they have

alternatives to create their own destiny by starting their own companies and they need not keep waiting to get a job.
 Department of Education
National Capital Region
Division of Taguig City and Pateros
MOREH ACADEMY
RIGHTEOUSNESS AND EXCELLENCE
Ricahuerta Street Cor. A. Bonifacio Avenue, Upper Bicutan, Taguig City

Theoretical Framework

Sociological theory is the third of the major entrepreneurship, in the sociological theories the level of analysis is traditionally the

society (Landstrom, 1998). Reynolds (1991) has identified four social contexts that relates to entrepreneurial opportunity. The second

called the life course stage context which involves analyzing the life situations and characteristic of individuals who have decided

to become entrepreneurs. The experiences of people could influence their thought and action so they want to do something meaningful

with their lives just as how our respondent’s life will influence those students to continue pursuing entrepreneurship career.

Conceptual Framework

Input Output Process

Knowing the possible challenges of

an Entrepreneur through the

respondent’s experiences by  Collection of Data through

answering the given questionnaires. answering questionnaires and  Entrepreneurship Education

interviewing the respondents Seminar

A. Demographic Profile (Entrepreneurs) around Upper

B. Common External and Internal Bicutan, Taguig City.

Challenges faced in starting their

business.

C. Primary source of Finance

 Department of Education
National Capital Region
Division of Taguig City and Pateros
MOREH ACADEMY
RIGHTEOUSNESS AND EXCELLENCE
Ricahuerta Street Cor. A. Bonifacio Avenue, Upper Bicutan, Taguig City

Figure 1. RESEARCH PARADIGM

Statement of the Problem

This study analyzes the possible challenges of entrepreneurs around Upper Bicutan, Taguig City. The study specifically determines

the following:

1. What is the demographic profile of the respondents as to:

a. Age

b. Gender

c. Educational qualification

d. Ownership

e. Name of the business

2. What are the common external challenges they faced in starting their business?

a. Lack of source for Capital

 Department of Education
National Capital Region
Division of Taguig City and Pateros
MOREH ACADEMY
RIGHTEOUSNESS AND EXCELLENCE
Ricahuerta Street Cor. A. Bonifacio Avenue, Upper Bicutan, Taguig City

b. Lack of knowledge and training about entrepreneurship

c. Lack of marketing strategy

d. Expensive business permits

e. Products idea

f. Competitions in the market

3. What are the common internal challenges they face in starting their business?

a. Self-doubt

b. Lack of experience

c. Lack of motivation

4. Primary source of finance

a. Loans

b. Personal saving

c. Partnership (help from friends and family)

5. Thing that is needed the most be successful in an entrepreneurial venture?

a. Abundance of money

b. Luck

c. Innovative idea for product

d. Hard work or persistence

Hypothesis

There will be no significant difference between the entrepreneurs around Upper Bicutan to the aspiring students of Moreh Academy.

Scope of the Study

This paper examines main challenges of entrepreneurs which they faced while starting their business. This study was descriptive in

nature and it includes surveys, facts and findings. Data was collected using a developed and validated questionnaire. The study chooses

entrepreneurs in Upper Bicutan, Taguig City and the respondents were selected randomly. The supposed outcome of the research will
 Department of Education
National Capital Region
Division of Taguig City and Pateros
MOREH ACADEMY
RIGHTEOUSNESS AND EXCELLENCE
Ricahuerta Street Cor. A. Bonifacio Avenue, Upper Bicutan, Taguig City

mainly focus on student’s entrepreneurship in Moreh Academy. The collected data will be analyzed using simple percentage analysis

The time period in which the research was conducted is between the year 2019 to 2020.

Significance of the Study

The study will be a significant endeavor in promoting entrepreneurship to the youth, serving as an excellent foundation in starting up

a business and will also be beneficial to the students and learners from different social and economic backgrounds in cultivating unique

skills and thinking outside the box. This study will purport to determine the challenges that the respondents of this research faced in

order to help students from Moreh Academy to learn things through their experiences in starting up a business. The researchers believed

that if the students can identify and be aware of the following factors working against them as a young entrepreneur through the help of

the research, then they'll be able to come up with effective counter strategies to ease their paths to success.

Definition of Terms

 Empowering- to give power to someone

 Enterprise- a project or activity that involves many people and that is often difficult

 Technology-the use of science in industry, engineering

 Emergence-the act of becoming known or coming into view

 Enssstrepreneur- a person who starts a business and is willing to risk loss in order to make money.

 Baby boomers-a time when there is a great

 Innovation-a new idea, device, or method

 Concept- an idea of what something is or how it works

 Market place-the economic system through which different companies compete with each other to sell their products

 Corporate-involving or associated with a corporation Finance-the way in which money is used and handled

 Sales-used in selling

 Management-the act or skill of controlling and making decisions about a business

 Ownership-the state or fact of owning something

 Qualification- a special skill or type of experience or knowledge that makes someone suitable to do a particular job or

activity

 Visionary-having or showing clear ideas about what should happen or be done in the future

 Globalization-the act or process of globalizing

 Department of Education
National Capital Region
Division of Taguig City and Pateros
MOREH ACADEMY
RIGHTEOUSNESS AND EXCELLENCE
Ricahuerta Street Cor. A. Bonifacio Avenue, Upper Bicutan, Taguig City

 Labor-workers considered as a group