Influence Of The Factors Of Business Opportunities Among Micro And Small Enterprises In Selected Areas Of Cavite

  • Xavier Lawrence Mendoza Cavite State University - CCAT Campus, Rosario, Cavite, Philippines
  • Lara Ysabel Bruno Cavite State University - CCAT Campus, Rosario, Cavite, Philippines
  • Bryan S. Maglaque Cavite State University - CCAT Campus, Rosario, Cavite, Philippines
  • Jamielyn N. Solis Cavite State University - CCAT Campus, Rosario, Cavite, Philippines
Keywords: business opportunities, entrepreneurship, micro and small enterprises

Abstract

Micro and small enterprises provide employment opportunities, offer innovative environments for entrepreneurs to develop new products and services, and help people out of poverty. This study generally aimed to understand the factors of business opportunities that influence micro and small enterprises. The researchers employed descriptive-correlational research design and have used random sampling. This study selected 397 registered micro and small enterprises. Findings revealed that participants were mostly under sole proprietorship, having 1 to 9 employees with an estimated range of asset size of 3,000,000 pesos and operated within 1 to 3 years. Human capital (entrepreneurial knowledge by employees), social capital (communication with family and friends), and financial capital (invested additional funds for business operations) were the factors of business opportunities. Human, social, and financial capital were highly influential factors for business opportunities in micro- and small enterprises. Considerably, there was no significant relationship between the business profile of the participants and the degree of influence of factors of business opportunities, except with the number of employees and social capital. Thus, the researchers recommended that MSEs develop their entrepreneurial knowledge and skills, expand their business networks, and take advantage of financial institutions that offer lower borrowing fees.

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Published
2022-11-26
How to Cite
Mendoza, X. L., Bruno, L. Y., Bryan S. Maglaque, & Jamielyn N. Solis. (2022). Influence Of The Factors Of Business Opportunities Among Micro And Small Enterprises In Selected Areas Of Cavite. Asian Journal of Management, Entrepreneurship and Social Science, 3(01), 136-155. https://doi.org/10.98765/ajmesc.v3i01.221