Problems Faced by The Select Entrepreneurs in Starting Up A Business

UNIVERSITY OF MAKATI
J.P. Rizal Extension West Rembo, Makati City

COLLEGE OF BUSINESS AND FINANCIAL SCIENCE
PROBLEMS FACED BY THE SELECT ENTREPRENEURS IN

STARTING UP A BUSINESS
A Business Research
Presented to the Faculty of the College of Business and Financial Science
University of Makati
Makati City
In Partial Fulfillment of the Requirements for the Degree of

Bachelor of Science in Office Administration
Charrise Ann O. Marjes

Eugene M. Dizon
Flory Mae P. Noya
Jenevie L. Romero
Marjorie C. Elcarte
Reham P. Pacalundo
December 2021
TABLE OF CONTENTS
Certification ………………………………………………………………………………….. i
Acknowledgments ……………………………………………...……………...…………….. ii
Dedication ……………………………………………………...…………..………………… iii
Abstract……………………………………………………………………………………..… iv
Chapter I Introduction 11 1
Statement of the Problem ……………………….……………………..…………………2 …
Significance of the Study …………………………………………………………… …..3
Scope and Limitation …...……………………………...………………………….……..4…..
Hypothesis ………………………………………………………………...………… …..4
…
Review Related Literature ……………...…………………………………………….. 5
…
ResearchParadigm………..….……….…………………….………………………… ……. 9
……
Definition of Terms…………………………………………………………..….……… 10
Chapter II Methods 11
11
Research Design …………………….……………………………….……………..……..
11 1
Respondents…...…………………….……………………………..…………………… 11
11
Research Instrument …………………….…………………………………………… … 12
12
Data Collection Procedure …………..…………………………………………….… ……
14
Data Analysis ………………………………………………………………………….…… 15
Chapter III Results 18

Profile of Respondents ………………….………………….….…………………… ……
18
Internal Factors that Affect Entrepreneurs in Starting up a Business……………… ……
20
External Factors that Affect Entrepreneurs in Starting up a Business…………………. . 21
Chapter IV Summary of Findings 23
Summary of Findings....................................................................................... 23
Conclusions...................................................................................................... 26
Recommendations............................................................................................. 27
References 28
Survey Questionnaire 29
Autobiography
CERTIFICATION
The Business Research entitled Problems Faced By The Select Entrepreneurs In Starting Up A
Business prepared and submitted by Flory Mae P. Noya, et.al in partial fulfillment of the
requirements for the Degree of Bachelor of Science in Office Administration has been
examined and is recommended for Oral Examination on December 2021.
DANIEL E. HEBRON, DBA

Adviser
PANEL OF EVALUATORS
ALLIE V. AGUSTION, Ed.D., DBA SOLZHENITSYN T. BASAL, DBA
APPROVAL SHEET
Approved on December 2021 by the Panel of Evaluators on Oral Examination with

a grade of .
PANEL OF EVALUATORS
ALLIE V. AGUSTION, Ed.D., DBA SOLZHENITSYN T. BASAL, DBA
Accepted and approved in partial fulfillment of the requirements for the Degree
of Bachelor of Science in Office Administration.
DENNIS A. SANDOVAL, Ph.D

Dean
i
ACKNOWLEDGEMENTS
First and foremost, researchers would like to express our gratitude to our parents for their
moral support of us. Researchers also acknowledge our friends and classmates who gave us
valuable thoughts and ideas that significantly improved the paper.
Researchers would also like to express our gratitude to Dr. Daniel Eufracio Hebron,
Professor in Business Research at the University of Makati, for imparting his immense knowledge
and wisdom throughout the making of this research paper. He consistently expressed his
willingness to motivate us, which keeps us productive that creates a tremendous impact on our
project.
Researchers are also grateful to our Heavenly Father Almighty God for providing us the
knowledge, strength, guidance, and composure to finish our research project within the scheduled
time.
Researches would also like to commend the researchers for their valuable contributions
and assistance in making this research project possible.
ii
DEDICATION
The researchers would like to dedicate this research paper to those who participated and
helped us doing the task. To our classmates, friends and fellow researchers who are constantly
supporting us throughout the process and to those who have shared their knowledge and effort to
helped us get the necessary information needed to make this research possible.
The researchers would like to also dedicate this research paper to our adviser, Dr. Daniel
E. Hebron, for the continuous guidance to our study and research. His suggestions and insights
made the process more enjoyable experience. The researchers truly appreciate his time, ideas,
enthusiasm, knowledge, and patience to make this research reality. This paper will serve as a
guide for more projects that will come in the near future.
Lastly, the researchers would like to dedicate this research paper to our God who has been
the source of our strength and for continuously giving us knowledge and wisdom to explore and
conduct this study. His guidance helped us to surpass challenges and to finish this study in the
given period.
iii
ABSTRACT
Title: This study entitled Problems Faced by the Select Entrepreneurs in Starting Up a Business.
This primarily focused on the problems faced by 20 selected entrepreneurs in starting up a
business in Makati City and Taguig City as basis for location in their existing business. It also
determined the different factors of internal and external problems that affect entrepreneurs in
starting their business.
Authors: Flory Mae P. Noya, Reham P. Pacalundo, Eugene M. Dizon, Charisse Ann O. Marjes,
Marjorie C. Elcarte, Jenevie L. Romero
Institution: University of Makati
Degree: Bachelor of Science in Office Administration
Date: December 2021
Number of pages: 46
Keywords: Internal Problems, External Problems, Strategies on dealing with different factors
faced by entrepreneurs, Developing business idea and reason, Raising capital for start-up, Finding
the right business location, Dealing with competition, Unforeseen business challenges and
expenses, Finding good customers, Finding good employees, Keeping up with industry changes
and trends
iv
CHAPTER I
INTRODUCTION
In today's world rapid development, entrepreneurship has emerged as one of the most
dynamic economic forces that made our world innovative. Entrepreneurship originates from
the French concept of entrepreneur translated into the English concept as undertake. To start a
business simply means to undertake a business. Entrepreneurship is linked to opportunity
recognition and emphasizes the importance of knowledge and skills as the basic
entrepreneurial ability (Hessels, 2019). Hessels (2019) pointed out that entrepreneurial ability
will bring innovation to the market through the entrepreneurship process and learning. In the
end, the management of entrepreneurship will create sustainabsility to promote economic
growth (Chen et al, 2018).
Tehseen and Ramayah (2015) assert that an entrepreneur is an individual who
develops and grows the businesses through creative and innovative activities, by introducing
new products or services, by improving the existing methods of production or service.
According to McKenzie et al. (2010), entrepreneurs hold the responsibility of improving
consumers’ lifestyles and solving problems faced by consumers in this fast- changing world
besides contributing to the national economic income.
Starting up a business can be both challenging and exciting. Inexperienced
entrepreneurs, when entering the business sector, faced immense problems.
1
(Sarkar, 2016). Various internal and external problems exist as they embark on the
business world, and these problems act as hindrances to them in achieving success.
Thus, this study attempts to determine the various factors of internal and external
problems faced by 20 selected entrepreneurs in Makati City and Taguig City.
I. STATEMENT OF THE PROBLEM
Different factors and problems negatively affect new entrepreneurs in starting their
business; it was quite a challenge for them to continue their business having the factors and
problems affecting it. The goal of this study was to determine the problems faced by select
entrepreneurs in starting up a business.
1. Demographic profile of the respondents in terms of:
1.1 Age
1.2 Gender
1.3 Civil Status
1.4 Educational Attainment
2. This study was to determine how these 3 factors of the internal problems affect the
selected entrepreneurs in starting up theirbusiness.
2.1 Developing business idea and reason
2.2 Raising capital for start-up
2.3 Finding the right business location
2
3. This study was to determine how these 5 factors of the external problems affect
the selected entrepreneurs in starting up their business.
3.1 Dealing with competition
3.2 Unforeseen business challenges and expenses
3.3 Finding good customers
3.4 Finding good employees
3.5 Keeping up with industry changes and trends
This research targets to address the problems faced when starting up a business
that would benefit those aspiring entrepreneurs to start their business and help them to be
encouraged when they face this kind of problem in the future. To achieve this, the
researchers will determine and explain the different problems that the entrepreneurs might
face in starting up their businesses.
II. SIGNIFICANCE OF THE STUDY
The purpose of this research study was to determine the various factors of internal
and external problems faced by the select entrepreneurs in starting up a business. Moreover,
the findings of this study are significant because they will be beneficial to the following
sectors.
To the new and old entrepreneurs. This study might be used as a guide when starting a
business so that they will be aware of any problems or risks that may develop during the
process of doing so.
To the teacher. This study will help them to their discussions about those related lessons,
such as the introduction of entrepreneurship and the challenges faced by entrepreneurs in
3
starting up a business to become successful entrepreneurs.
To the students. This might be beneficial for students who researched the same studies that
would enhance the present study.
To the future researchers. This will serve as a reference or basis for conducting similar or
related research that might be needed in their study.
III. SCOPE AND LIMITATION
This study was focused only on the various factors of internal and external
problems faced by the select entrepreneurs in starting up a business. It was conducted to
determine the internal and external factors that affect entrepreneurs in starting up a business.
From this moment, researchers will go to deal with this research until the end of this first
semester. Researchers will gather data from the respondents using the survey questionnaire
provided by the researchers. The respondents were composed of only 20 randomly selected
entrepreneurs in Makati City and Taguig City. Afterward, researchers will assess the data to
come up with possible recommendations and strategies for new entrepreneurs.
The outcomes of this study will never be used in any other than the stated purpose
of this study.
IV. HYPOTHESIS
H0- Recommendations and new approaches of strategies are not helpful for new
entrepreneurs.
4
V. RELATED LITERATURE
The researchers gathered adequate information to gain insight into the aspects of the
problem to provide the researchers the backgrounds needed to be studied.
According to Lohitkumar et al, to do so, an entrepreneur must be able to see what others
cannot see, also known as "visualizing the idea." An entrepreneur must be able to see chances
when others see problems. When will these possibilities originate and cohere into a feasible
concept. In other phrases, an entrepreneur must be capable of creating innovative products that
can satisfy the public by "value creation out of nowhere."
According to Kanchana et al, when starting a business, an entrepreneur must not only
persuade investors about something which doesn't exist, and also gain their trust in the task
proposed so that they are prepared to invest in it. In other statements, raising capital involves
more than merely asking for money. Most investors prefer to invest in already existing firms with
low risk since they want to get a return on investment. As for new entrepreneurs, it is difficult for
them to compete with these established entrepreneurs since they are still new to the profession
and earn less money in their business than the established businesses. As an outcome, attracting
investors' interest in their unconfirmed business is always challenging and indisputably difficult
for them. One of the internal challenges faced by new entrepreneurs is raising capital for business
start-up.
According to Lohitkumar et al., the locale of the study must be efficient in order to ensure
the future sustainability of the organization. To do so, an entrepreneur must consider the facilities,
where clients are based, with a fast increasing population, a road infrastructure, and
5
other facilities in a good location. This is an internal challenge because a strategic location
usually requires high rental, causing new entrepreneurs to face an economic crisis.
According to Mike Kappel There must be competition everywhere. Whether you are a
new business owner or a professional person, you must understand how to deal with competitors.
You don't want to be completely unaware of your competitors. Above all, you should focus your
energy on your own entrepreneurial tasks.
According to Kanchana et al. An business owner must face challenges of dealing with
unplanned business expenses that are unsuspecting increasing, as this may result in a constant
capital loss if not handled correctly, eventually new opportunities for business failure. As a result,
all of these factors clearly pose an external challenge for new entrepreneurs, as they may not be
capable of dealing with these unusual rain in the business field.
According to Kanchana et al, an entrepreneur must face the challenge of dealing with
unpredicted business expenses that are unknowingly increasing as this may result in a continual
shortage of funds if not addressed properly eventually leading to business failure. As a
consequence, all of these factors clearly pose an external challenge for new entrepreneurs, as
they may not be capable of dealing with these unforeseen storms in the business field.
According to Anna Johansson (2016) when you start a business, you are aware that there
will be risks. You understand that you will not have a consistent stream of revenue, that you will
be foregoing potential growth in your previous career path, and that there is a relatively high risk
that your business will fail. These are completely obvious, and most young entrepreneurs are
mentally and physically prepared for any of these possibilities.
6
According to Rea Regan (2020) a good employee is one who is organized punctual, a
team player, has a positive attitude, and so on. However, there are numerous other employee
characteristics that a supervisor may acknowledge.
According to Erin Coleman, R.D., L.D (2018) A good employee can be challenging, but
knowing what characteristics to look for helps forecast employees' success in the workplace.
According to Andrew Greenberg (2019) if you want to hire the best people, it's important to
work with experts who know how to recruit top talent.
According to Mark Lukens (2014) the right attitude, with enthusiasm and a willingness to
learn, with a personality that will fit your organization well, can be far more useful than finding
someone with the usual list of qualifications.
According to Brink and Berndt (2008) Customer service is the provision of services to
customers before, during and after a purchase. Essentially, customer service is any back-up
service that a company provides to customers to maintain their loyalty and to secure sales.
According to Luca (2005) customer service as the ability of knowledgeable, capable and
enthusiastic employees to deliver products and services to their internal and external customers
in such a way that it satisfies identified and unidentified needs of customers, and, ultimately,
results in positive word of mouth advertising and repeatbusiness.
According to Machando and Diggines (2013) as the ultimate goal of any business is
customer satisfaction and loyalty, it is essential for a business to live up to its customers’
perceptions and expectations of customer service.
7
According to Kamin (2006) it is a service world and the companies that will survive in
the future are those already focusing on customer service as a priority in their total offerings.
Delivering good service is no longer optional, but is fundamental to the success of an
organization. The importance of good service can no longer be ignored as competition is getting
tougher every day.
According to Kathryn (2019) the moment you think you know it all, that should be your
signal that it’s time to learn something new. It is easy to keep up with the latest trends in your
industry once you know how.
According to Invostepidea team (2021) markets are made up of several different kinds of
trends, and it is the recognition of these trends that will largely determine the success or failure
of your long and short-term investing.
According to Kristina Smith (2021) the best things your company can do is keep up with
industry trends. Just like we all keep up with one another on social media, it’s important to do the
same as trends emerge within your industry. While it can be tempting to stick with the tried-and-
true things your company has done over the years, integrating trending things as they come up
will set you apart and keep you in the know about your industry.
According to Schildt et al. (2006) the highly permeable boundaries of entrepreneurship
enable intellectual exchange with other management areas but discourage the development of an
entrepreneurship theory and deter the legitimacy of the ﬁeld.
8
V. RESEARCH PARADIGM
INPUT
1. Demographic Profile of the

respondents in terms of:
1.1 Age
1.2 Gender
1.3 Civil Status
1.4 Educational
Attainment
PROCESS
2. Determine how these 3 1. Test the accuracy of the

factors of the internal problems survey questionnaire using
affect by the select the Likert Scale Method.
entrepreneurs in starting- up 2. Organize the gathered data OUTPUT
their business. using a survey questionnaire
2.1 Developing business idea that was distributed to
Recommendations of
and reason respondents.
new approaches and
2.2 Raising capital for start up 3. Use of statistical analysis
strategies for the new
2.3 Finding the right business to collect data.
entrepreneurs.
location 4. Collect and discuss the
findings, as well as interpret
the results.
5. Construct conclusions and
3. Determine how these 5
recommendations.
factors of the external problems
affect by the select
entrepreneurs in starting- up
their business.
3.2 Unforeseen business
challenges and expenses
3.5 Keeping up with industrial
changes and trend
9
VI. DEFINITION OF TERMS
For a better understanding of this research, the following terms are defined in the
context of this research to strengthen the means of the study.
Business Startup- This term refers to all new ventures and new firms that wanted to give the
needs and wants of the market.
Entrepreneur- This term refers to a person who organizes and operates a business.
Responsible for developing new productsor services.
External- In this study, this refers to all the factors or influences outside the business that
have an impact on the operation of the business.
Internal - In this study, this refers to the risks faced by a company from within its
organization and arises during the normal operations of the company. It is a factors
within the business which has an impact on the success and approach of the operation and
is under the control of the business.
10
CHAPTER II
METHODS
I. RESEARCH DESIGN
This study employed the descriptive quantitative research method to determine the
factors of internal and external problems faced by the select entrepreneurs. Saunders et al.
and Miller, stated that descriptive research method portrays an accurate profile of persons,
events, or situations. This design offers to the researchers a profile of described relevant aspects
of the phenomena of interest from an individual, organizational, and industry-oriented
perspective. Therefore, this research enabled the researchers to gather data from the selected
respondents on the stated problems of this study.
Farnsworth (2019), also stated that this method will be highly structured and consistent
during data collection, most likely using an interview with closed-ended questions or
statements. Researchers will have a survey form to know the entrepreneurs' perception towards
the given objective of this study as serves as validation on the data provided.
II. RESPONDENTS
The subject of this study was composed of twenty (20) randomly selected entrepreneurs
in Makati and Taguig City. These twenty (20) respondents will help to provide sufficient data
regarding the purpose of this study.
11
This research used simple random sampling technique. According to this method, which
belongs to the category of Probability Sampling, where the researchers select a group of
subjects (a sample) for study from a larger group (a population). Each individual is chosen
entirely by chance and each member of the population has an equal chance of being included in
the sample. Every possible sample of a given size has the same chance of selection (Valerie J.
Easton and John H. McColl's Statistics Glossary v1.1). Researchers selected this type of
sampling technique because the population is limited that can easily be sampled.
Table I
Distribution of the Respondents
Place Total of number Percentage

Makati 16 80%
Taguig 4 20%
Total: 20 100%
The table above shows the distribution and the total number of respondents in this study.
Researchers distributed the survey questionnaire to the selected entrepreneurs to be answered by
them. A total of 16 (80%) respondents are located in Makati City. The remaining 4 (20%)
respondents are located in Taguig City. Overall, a total of 20 (100%) respondents.
III. RESEARCH INSTRUMENT
This research utilized a survey questionnaire prepared by the researchers. The survey
questionnaire consists of two sets of questions inclined with our statement of the problem. The
two variables contain ten questions each. The questions were answerable by a scale represents
12
how the respondent feels or acts. Likert scale was used to obtain answers from the respondents.
The researchers had conducted a mind mapping where the following statements were connected
on the statement of the problem.
The first part consists of statements about the factors of the internal problems affect
by the select entrepreneurs in starting-up a business.
2.1 Developing business idea and reason
2.2 Raising capital for start up
2.3 Finding the right business location
The second part consists of statements about the factors of the external problems affect
by the select entrepreneurs in starting-up a business.
3.2 Unforeseen business challenges and expenses
3.5 Keeping up with industrial changes and trend
The survey-questionnaire were designed by using closed-ended statements. The set of
questionnaires was structured using the Likert Format with a four-point response scale. The
researchers used a Likert Scale for the respondents to indicate their degree of agreement or
disagreement to a statement. In this type of survey-questionnaire, the respondents were given
four response choices. These options served as the quantification of the participants’ agreement
and disagreement on each question item.
13
The respondents will be asked to indicate their level of agreement where;
1 Strongly Disagree- you are in total disagreement with the statement.
2 Disagree- you disagree with the most part
3 Agree- you agreed for the most part
4 Strongly Agree- you are in total agreement with the statement
IV. DATA COLLECTION PROCEDURE
The researchers come up with questions that will help figure out the research objective
of this study. To make it easier for respondents to answer each question, the researchers make
questions more accurate and understandable. The researchers utilized a quantitative method
and a “Likert Scale” survey questionnaire to collect data from the respondents. The response
scales used anchors such as Strongly Disagree, Disagree, Agree, and Strongly Agree. In
addition, the researchers used Google Forms to collect data from the respondents.
14
Week
Data Gathering Procedure SEPTEMBER OCTOBER

1 2 3 4 1 2 3 4
1. Ask Permission
Making Test
2. Questionnaire
/ Instrument
Revision of Test
3. Questionnaire/
Instrument
Validation of test
4. Questionnaire/
Instrument
Distribution of
5.
Questionnaire
Retrieval of
6. Answered
Questionnaire
Tabulation of the
7.
Data Gathered
Statistical Method
8.
Analysis
This Gantt chart illustrates the time-frame of gathering the information through
questionnaires from the respondents.
V. DATA ANALYSIS
After the data collected from the survey questionnaire answered by the respondents, it
is now organized and analyzed by using Descriptive Statistics. Kaur, P (2018) describes this
method of data analysis as a way to summarize data in an organized manner by the
relationship of variables.
15
The statements of the survey questionnaire will be provided by the researchers and
answered by the selected entrepreneurs. Researchers then send the survey questionnaires
through online and start the survey. The survey questionnaire will be then tallied by the
researchers and the following result will be the final representation of the participants.
The data gathered was statistically analyzed using the following:
1. Percentage
Formula: % = F/N x 100
Where:
% = Percentage
N = Total number of respondents
F = Frequency
2. Rank
This formula will be utilized to determine the position of an individual or a group in a
series of ranks which one is higher than another.
3. Weighted Mean
x̄ = (Σ xi) / n.
The researchers computed for the sample mean (x) of the answers per question to
determine the average answer of the respondents.
Where:
x̄ = Symbol for mean

∑ = Symbol for summation
x_1= Value of the nth item
N = total number
16
CHAPTER III
RESULTS
I. PROFILE OF THE RESPONDENTS
Table I
Age Distribution of the Respondents
Age Frequency Percentage Rank

18-21 10 50.00 1
22-25 8 40.00 2
26-29 1 5.00 3.5
30 above 1 5.00 3.5
TOTAL 20 100.00
As can be seen from the above table, half of the respondent were from the age bracket
of 18 – 21 years old with 50.00%, followed by 22 – 25 years old with 40.00%, and 7.00%
composed of 26 years old and above.
Table II
Gender Distribution of the Respondents
Gender Frequency Percentage Rank

Male 6 30.00 2
Female 14 70.00 1
TOTAL 20 100.00
Table II discusses the gender distribution of the respondents, the data presented explain
that majority of the respondents of the study were dominated by female with 70.00% as
compared to male with 30.00%.
17
Table III
Civil Status of the Respondents
Civil Status Frequency Percentage Rank

Single 18 90.00 1
Married 2 10.00 2
TOTAL 20 100.00
As regard to civil status, majority of the respondents were single in nature with 90.00%
while the other 10.00% were married people.
Table IV
Highest Educational Attainment
Educational Attainment Frequency Percentage Rank

High school 3 15.00 3
Senior High school 4 20.00 2
College 13 65.00 1
TOTAL 20 100.00
As can be gleaned from table IV majority of the respondents were college graduate with
65.00%, followed by senior high school graduate with 20.00% and the other 15.00% were high
school graduate.
Table V
Location of the Respondents
Location Frequency Percentage Rank

Makati City 16 80.00 1
Taguig City 4 20.00 2
TOTAL 20 100.00
18
In terms of location or vicinity, majority of the respondents were from Makati City with
80.00% while the other 20.00% were from Taguig City.
II. INTERNAL FACTORS THAT AFFECT ENTREPRENEURS IN STARTING UP A
BUSINESS
Table I
Internal Factors
Weighted Descriptive
INTERNAL
Mean Equivalent
1. Developing a business idea is easy tocreate. 2.05 Disagree
2. Creating a business idea is a long time and multi-process. 2.85 Agree
3. Thinking about a great business idea is one of the Strongly
3.35
important factor before starting a business. Agree
4. Creating a business generally requires having enough Strongly
3.35
funds to cover all expenses. Agree
5. Obtaining resource capital is not difficult. 2.20 Disagree
6. I acquire capital through personal savings, bank loans,
3.05 Agree
and investing.
7. Deciding where to locate a business is veryimportant. Strongly
3.70
Agree
8. Finding a suitable workspace is hard to acquire. 3.15 Agree
9. Finding a business location must be accessible. Strongly
3.70
Agree
10. I believe establishing a business in the city is more Strongly
3.50
profitable. Agree
Overall Weighted Mean 3.09 Agree
Table I discusses the internal factors that affect entrepreneurs to start a business. The
highest assessment made by the respondents was on “Deciding where to locate a business is very
important” and “Finding a business location must be accessible” with both 3.70 mean weight
interpreted as strongly agree. Followed by “I believe establishing a business in the city is more
profitable” with 3.50 mean weight interpreted as strongly agree, and “Thinking about a great
business idea is one of the important factors before starting a business”, and “Creating a business
19
generally requires having enough funds to cover all expenses” with both 3.35 mean weight
interpreted as strongly agree also.
On the other hand, the lowest assessment made by the respondents were on “Obtaining
resource capital is not difficult” with 2.20 mean weight interpreted as disagree, followed by
“Developing a business idea is easy to create” with 2.05 mean weight interpreted as disagree. As
a whole, the respondents assessed the internal factors as agree with 3.09 meanweight.
III. EXTERNAL FACTORS THAT AFFECT ENTREPRENEURS IN STARTING UP
A BUSINESS
Table I
External Factors
Weighted Descriptive
STATEMENT
Mean Equivalent
1. Competition can help you to identify the needs and
3.15 Agree
wants of the consumer.
2. I should investigate competitors' successful selling
3.25 Agree
methods in dealing with thecompetition.
3. I'm ready to take on the obstacles that come with Strongly
3.45
running a business. Agree
4. Challenges are hard to solve when you are not Strongly
3.40
prepared. Agree
5. Good customers can help to build and maintain Strongly
3.55
business success. Agree
6. Finding good customers are necessary for contributing Strongly
3.50
to the success of the business. Agree
7. Finding good employees can help to achieve business Strongly
3.65
goals and objectives. Agree
8. Recruiting and retaining a qualified employee is 3.20 Agree
difficult to find.
9. I believe I must be aware ofcurrent trends. 3.30 Agree
10. Being updated on the current trends has a massive Strongly
3.50
impact on the success of the business. Agree
Strongly
Overall Weighted Mean 3.40
Agree
20
With regards to external factors, the highest assessment made by the respondents were on
“Finding good employees can help to achieve business goals and objectives” with 3.65 mean
weight interpreted as strongly agree, followed by “Good customers can help to build and
maintain business success” with 3.55 mean weight interpreted as strongly agree, and “Finding
good customers are necessary for contributing to the success of the business” and “Being updated
on the current trends has a massive impact on the success of the business” with both 3.50 mean
weight interpreted as strongly agree.
On the other hand, the lowest assessment made by the respondents was on “Competition
can help you to identify the needs and wants of the consumer” with 3.15 mean weight interpreted
as agree, followed by “Recruiting and retaining a qualified employee is difficult to find” with
3.20 mean weight interpreted as agree, and “I should investigate competitors' successful selling
methods in dealing with the competition” with 3.25 mean weight interpreted as agree. As a
whole, the respondents assessed the external factors affecting entrepreneurs to start a business
as strongly agree with 3.40 meanweight.
21
CHAPTER 4
SUMMARY OF FINDINGS
I. SUMMARY OF FINDINGS
1. Personal Profile of the Respondents
Female entrepreneurs were dominated over male entrepreneurs. This implies that females
nowadays are finally showcased their entrepreneurial skills to help the business industry
grow more. Half of the respondents were between the aged of 18 and 21, and the other
half were aged 22 and 25 years of age. On the other hand, the majority of the respondents
are single college graduates, and most of them are in Makati City.
2. Internal Factors That Affect Entrepreneurs in Starting up a Business
2.a. Developing Business Idea and Reason
Overall, respondents revealed that developing business ideas and reasons is simple when
starting a business, which was interpreted verbally as DISAGREE with an overall
weighted 2.05. This indicates that entrepreneurs are struggling to visualize business ideas,
and it was clearly stated that creating a business idea is a time-consuming and multi-
process, and it is an important factors before starting a business, and it received a
verbal interpretation of STRONGLY AGREE with an overall weighted mean of3.35.
2.b. Raising capital for start-up
Overall, respondents assessed that raising capital for starting up is generally required to
fund all expenses, which was verbally interpreted as STRONGLY AGREE with a
weighted mean of 3.35, and they acquired capital through personal savings, bank loans,
22
and investing, which was verbally interpreted as AGREE with a weighted mean of 3.05.
With a weighted mean value of 2.20 and a verbal interpretation of DISAGREE, the least
item evaluated was obtaining capital is not difficult to find.
2.c. Finding the right location
Overall, respondents STRONGLY AGREE with a weighted mean of 3.63 that deciding
where to locate a business is very important, followed by finding an accessible business
location with both 3.70 mean weight and "I believe establishing a business in the city is
more profitable" with a weighted mean of 3.50.
The statement with the lowest weighted mean was "finding a suitable workplace is
difficult to acquire," which received a weighted mean of 3.15 and was verbally
interpreted as AGREE.
3. External Factors That Affect Entrepreneurs in Starting up a Business
3.a. Dealing with competition
Overall, respondents rated this specific part as AGREE with an overall weighted mean of
3.20, that competition can help to identify the needs and wants of the customer with a
mean of 3.15, and " I should investigate competitors' successful selling methods in
dealing with the competition" with a mean of 3.25 These two statements only illustrate
that competition is unavoidable in the business world.
3.b. Unforeseen business challenges and expenses
Overall, this area was rated as STRONGLY AGREE with an overall weighted mean of
3.43, that they are ready to take on the obstacles that
23
come with running a business with a mean of 3.45, followed by “Challenges are hard to
solve when you are not prepared” with a mean of 3.40. This only shows that
entrepreneurs must be physically, mentally, and financially prepared for all the
unpredictable challenges and expenses.
3.c. Finding good customers
Overall, respondents STRONGLY AGREE with an overall weighted mean of 3.53, that
good customers can help to build and maintain business success with a mean of 3.55, and
that finding good customers is necessary for contributing to the success of the business
with a mean of 3.50. This means that entrepreneurs must live up to their customers'
perceptions and expectations in order to keep their business going.
3.d. Finding good employees
Overall, respondents rated finding good employees as STRONGLY AGREE with a
weighted mean of 3.65, and "Recruiting and retaining a qualified employee" as AGREE
with a weighted mean of 3.20. This demonstrates that employees can contribute to
business success, but finding the right employee is difficult.
3.e. Keeping up with industry changes and trends
Overall, the respondents rated that keeping up with industry changes and trends they must
be aware of current trends as AGREE with a weighted mean of 3.30, and "being updated
on current trends has a massive impact on the success of the business" as STRONGLY
AGREE with a weighted mean of 3.50. This indicated that it is critical to recognize these
emerging trends within the industry in order to keep the business run.
24
II. CONCLUSIONS
1. Majority of the entrepreneurs were females with the aged bracket of 18-21 years old.
2. Majority of the respondents are single college graduates, and most of them are in Makati
City.
3. Majority of the entrepreneurs were strongly agreed that the internal factors such as
developing business idea, raising capital for start-up and finding the right business
location are important factors in order to make the business successful.
4. Most of the entrepreneurs were aware that these internal factors greatly affected their
business especially when theywere starting up their businesses.
5. The experienced of the entrepreneurs shows that these external factors such as dealing
with competition, unforeseen business challenges and expenses, finding good customers,
finding good employees and keeping up with the industry changes and trends are
inevitable in this industry yet, it has to plan carefully in order to make the business
consistent in the industry.
25
III. RECOMMENDATION
The researchers wish to make some recommendations, which, if taken into consideration,
might bring some positive changes to the current approach.
1. Internal Problems Recommendations
1.a Focus on market analysis wherein it will create a detailed business idea, insights and
uncover the possible future problems to find definite solutions on dealing with the market. In
marketing analysis, absorbing much information is very helpful, particularly in findings
about the preferred target market, competitors, and current market and in the industry.
2.b Research the different types of funding that will help the funding of the business such as
bank loans, investors and venture capital.
3.c Analyze the best possible location for the business wherein it will consider and discuss
the customer demographics and location of the potential competitors. In this way, this will
give advantage to the starting business because this will give possible answers to the
problems in dealing with the availability of the resources, cost and buying behavior of the
target customers.
2. External Problems Recommendations
2.a Capitalize on the possible challenges in the competition. It is hard to defeat competition in
the market but with strategic planning such as investigating on co-competitors, what are the
different factors that affect customer’s buying behavior can help to outperform the
competitors. One good way is to innovate effectively, it will make the business stand out in
the competition because this will help to attract new customers.
26
2.b Acknowledge that these unforeseen business challenges and expenses such as financial
risk, environmental risk, and reputation risk can happen while running the business in the
industry. This way, planning ahead of time is very important and crucial because this will
allow the business to operate effectively even there are risks because through proper
planning such as defining business plan, defining competitive advantage and defining goals
and vision this will turn the risks into an opportunity for the business to grow.
Entrepreneurs should be mindful and be ready in facing unexpected challenges and expenses.
2.c Strengthen the service of the business to gain potential customers. If every customer
meets their satisfaction, this will be a good way of advertising wherein they will make
announcements that will strengthen the brand of the business to attract more customers.
Entrepreneurs must understand their customers’ needs and wants to build a good relationship
with each other. Establish good customer service to keep attracting potential customers.
2.d Focus on developing a strong corporate identity for the business. In doing so, it will
emphasize the attributes and capabilities of the business to attract potential employees. To
create an understanding environment, hire the right people who share the same values and
have valuable experience. Assess the employee's strengths and weaknesses in order to
improve their skills and responsibilities in their respective business roles.
2.e Study statistics that pinpoints the current trends in the industry to help track the constant
changes in the market. Read and involve yourself socially to create business opportunities
despite the changes in the industry.
27
1
2
3
4 REFERENCES:
5
6 1. https://www.forbes.com/sites/mikekappel/2016/10/19/deal-with-competition-in-
7 business/?sh=67d318123a60
8 2. https://www.researchgate.net/publication/346200904_Challenges_Faced_by_New_E
9 ntrepreneurs_and_Suggestions_How_to_Overcome_Them
10 3. https://www.businessnewsdaily.com/15737-business-competitor-analysis.html
11 4. https://www.entrepreneur.com/article/270852
12 5. R.S.Kanchana, et al.pdf
13 6. https://www.abacademies.org/articles/Challenges-experienced-by-young-entrepreneurs-6. entering-
14 the-small-and-medium-enterprise-1528-2686-24-4-176.pdf
15 7. https://www.researchgate.net/publication/344157502_Investigating_the_relationship
16 8. between_corporate_entrepreneurship_and_employee_engagement
17 9. https://www.frontiersin.org/articles/10.3389/fpsyg.2019.02700/full
18 10. https://www.businessnewsdaily.com/6762-male-female-entrepreneurs.html
19 11. http://hj.diva-portal.org/smash/get/diva2:753373/FULLTEXT01
20 12. https://www.bloomberg.com/news/articles/2021-05-21/what-s-the-average-age-of-a-startup- founder-
21 it-s-34-study-says
22 13. https://www.researchgate.net/publication/339522027_Age_and_entrepreneurial_car
23 eer_success_A_review_and_a_meta-analysis
24 14. https://www.intheblack.com/articles/2020/11/01/golden-age-entrepreneur
25 15. https://www.researchgate.net/publication/303814553_For_better_or_worse_Marital_stat
26 us_parental_status_and_entrepreneurial_growth_intentions
27 16. JETIRCE06028.pdf
28 17. https://www.academia.edu/40904173/issues_occuring_in_business_start_ups_in_pu
29 nturin_and_bignay_valenzuela_city_a_thesis_presented_to_the_faculty_of_the_seni
30 or_high_school_department_in_partial_fulfillment_of_the_requirements_for_the_strand_accoun
31 tancy_business_and_management?Fbclid=iwar2wcfegkcnzam9yyslr5g5dt2uqg7soe1
32 w_mbvyy0ybil_4cch6tpkf72y#:~:Text=the%20researchers%20recommend%20that%20in,gett
33 ing%20the%20trust%20of%20customers
34 18. https://www.scirp.org/journal/paperinformation.aspx?paperid=101753
35 19. https://connecteam.com/qualities-of-a-good-employee/
36 20. https://www.unitedconcordia.com/business-services/employers/benefits-bridge/the-top-6-
37 qualities-of-a-good-employee
38 21. https://www.contractrecruiter.com/what-makes-a-good-employee-10-qualities-to-look-for-in-job-
39 candidates/
40 22. https://www.investopedia.com/articles/technical/03/060303.asp
41 23. https://www.awardstaffing.com/why-its-important-to-keep-up-with-trends-in-your-industry/
42 24. https://www.oberlo.com/blog/what-is-entrepreneurship
43 25. https://www.researchgate.net/publication/343853006_Understanding_Definition_of_Entrepreneu
44 rshi
45
46
47
28
Dear Respondent,
Good Day! We are Bachelor of Science in Office Administration student of University of

Makati. We are conducting an academic research entitled ‘’Problems Faced By
Entrepreneur in Starting Up a Business’’. In line with this, we ask you to respond as
truthfully and completely as possible. We assure you that whatever information obtained
will be used by the researchers only and will be deemed confidential. We will be
extremely grateful for your kind cooperation.
Sincerely,
The Researchers,
Please provide the following information.
I. Profile of the respondents.
Name: (Optional)
Gender: _Male _Female
Age: _ 18-21 years old _ 22-25 years old
_ 26-29 years old _ 30 above
Education Attainment: _Elementary _Highschool
_Senior High _College
Civil Status: _Single _Married
Put a check on the statements that most likely corresponds to your answer.
II. INTERNAL PROBLEM SURVEY

INTERNAL Strongly Agree Disagree Strongly
Agree Disagree
1. Developing a business idea is easy to

create.
2. Creating a business idea is a long time and

multi-process.
3. Thinking about a great business idea is one of
the important factor before starting a business.
4. Creating a business generally requires having

enough funds to cover all expenses.
5. Obtaining resource capital is not difficult.
6. I acquire capital through personal savings,

bank loans, and investing.
7. Deciding where to locate a business is very
important.
8. Finding a suitable workspace is hard to
acquire.
9. Finding a business location must be
accessible.
10. I believe establishing a business in the city

is more profitable.
29
III. EXTERNAL PROBLEM SURVEY
STATEMENT Strongly Agree Disagree Strongly

Agree Disagree
1. Competition can help you to identify the needs and

wants of the consumer.
2. I should investigate competitors' successful

selling methods in dealing with the competition.
3. I'm ready to take on the obstacles that

come with running a business.
4. Challenges are hard to solve when you are

not prepared.
5. Good customers can help to build and

maintain business success.
6. Finding good customers are necessary for

contributing to the success of the business.
7. Finding good employees can help to achieve

business goals and objectives.
8. Recruiting and retaining a qualified employee is

difficult to find.
9. I believe I must be aware of current trends.
10. Being updated on the current trends has a

massive impact on the success of the business.
30
Flory Mae P.Noya
Contact No: 0915 808 4301
Email: florymaenoya27@gmail.com
Life Motto: “Hard work makes the dream work.”
My name is Flory Mae P. Noya, 20 years of age. I was born in Mindanao, province of
Zamboanga del Sur. I went to Canipay Norte Elementary School back when I was in
elementary. I was a consistent honor student. Then I attended high school at Midsalip,
National High School. I was not a consistent honor student, but my grades were good, and I
graduated with honor during the completion.
I went to Manila City right after I finished high school to continue my studies. As my father,
and sister who support me financially, are working in Manila. Right now, I am currently
residing in Pembo, Makati City. I started attending senior high school at the University of
Makati, located in J.P. Rizal Ext. West Rembo, Makati City, taking Accountancy, Business
and Management strand. I was a dean’s lister and graduated with a medal hanging on my
neck.
Now, I am taking a Bachelor of Science major in Office Administration, the same University
I attended during my senior high school. This course was not my first choice because I want
to study medicine. Due to the financial shortage of the family, I end up taking office
administration. It was a long journey of thinking before I made up my mind. But I did not
regret choosing this course because I learned to love and embrace it during the learning
process.
As a researcher, these are the things I learned:
 In making the research paper, the researchers need to be more resourceful about their
topic to gather a wide range of information that might help the process of doing so.
 The researchers inevitably undergo several sleepless nights and revisions to make sure
that the research paper was thoroughly checked that made them distressed.
 As the group's leader, I understand that a leader must be knowledgeable about the
overall chapter of the research paper. So that when members ask questions, the leader
can respond. However, if the leader becomes uncommitted to the drafting of a
research paper, the members are likely to be uncommitted as well, and they may fail.
The team must have teamwork and collaborate to produce a superior output.
Marjorie C. Elcarte
Contact No: 09653352027
Email: marjelcarte5@gmail.com
Life Motto: "Taking Risk is an investment for success"
My name is Marjorie C. Elcarte and I was born on the 5th of August, 2000 in Makati City,
Metro Manila. I went to Pembo Elementary School as a primary. Then after I graduated, I
went to Fort Bonifacio High School and it was so really good because of what I had
experience and good memories until I graduate and currently studying at University of
Makati. I am the 2nd youngest of four children. My parents were Marivic C. Elcarte and
Jonathan C. Elcarte. My father died at the age of 47 in 2012 from Kidney failure, which was
also the result from a salty food. Fortunately, I have been smart enough to avoid that bad
habit. My early childhood was a typical middle class environment because my father worked
as a Security Guard at the Insurance Company and my mom is a house wife. We tried to sell
anything since I was a kid with my youngest brother and currently, my mother is relying on
our apartment for our daily expenses.
My interest in life such as listening music, swimming, travelling and hangouts together with
people I love. My dream was to become a doctor but I decided to not take the course because
of my health condition and financial stability. I’m studying very well so if I finished college,
I can have a good job in order for me to help my family and raise the style of living that we
have now with God’s grace and guidance. Just always remember that, life is like a roller
coaster. It has ups and downs but it’s your choice to scream or just enjoy the ride.
 I must pay attention, tried to be resourceful, diligence in reading and productivity to

gathering information because the study is useless if the content is not compatible with
the problem faced as an entrepreneur.
 I still had knowledge about gathering parts of the study unlike previous years I took basic
research.
 I gained more confidence and developed my engagement with my team works because of
our daily brainstorming and meetings.
Charisse Ann O. Marjes
Contact No: 09195103610
Email: charissemarjes1@gmail.com
Life Motto: "All our dreams can come true if we have the courage to pursue them."
I am Charisse Ann O. Marjes and I was born on the 15th of July, 2000 in Trece Martires
Cavite. I live at 119 Villalight brgy Hagonoy Taguig City. I studying at the University of
Makati, I am pursuing a Bachelor of Science in office administration Although it was not my
first choice, I gradually grew to enjoy it and trained to continue what I had begun. I enjoy
cooking because my parents have taught me to cook since I was a child and my favorite
colors are light blue and black. I also enjoy playing floor ball which I tried out at Umak for
about 2 months before there was a pandemic, so my friend and I had to stop, but I am happy
because I learned to socialize with them and they are very friendly.
My parents were Lilibeth and Jaime and out of our five siblings, I am the third. Three of us
are still in school. My family supports me because my older brother owns a market business
and my mother manages the family business. I am very fortunate in my family because I am
the only one who paid for my tuition and my sister divided how much I had to pay and it was
also a big help because I have the scholarship that I will receive every semester and if there
are school fees I can get an allowance for those other expenses. As a student and a child, I
will do my best to finish school and find work so that I can repay them for the hard work and
effort in with my siblings. They always tell me that money will never be capable of paying
for the education we have received simply by taking care of them. They are happy about our
siblings.
 We communicated with the leader and team members while conducting research because
just coming up with a title requires us to find an agreement so that we can properly
complete our research paper.
 It takes perseverance and a long time to find sources and information that can be put into
and linked to our research.
 In making a research It is more important to understand what each will put, rather than
simply taking from various links. It's difficult to find, especially if you need more
information and specifics about it.
 Research cannot be completed if everyone is unable to gather, so I am grateful because

we all understand each other and have different knowledge that includes the
establishment of our research paper, beginning with the leader and proceeding to the
members.
Reham P. Pacalundo
Contact No: 09082493585
Email: rpacalundo03@gmail.com
Life Motto: “Life is not a game of luck. If you wanna win, work”
My name is Reham P. Pacalundo, 20 years of age. I was born in Taguig City. I went to
Maharlika Elementary School back when I was in elementary. Then I attended high
school at Asia Academic Integrated School in Pasig City. It is an Islamic School. I’m one
of the outstanding students back then. I graduated with honor during the completion.
I started attending senior high school at the University of Makati, located in J.P. Rizal Ext.
West Rembo, Makati City, taking Humanities and Social Sciences strand. I’m not an
honor student but my grades are better and I’m proud that I graduated without any failing
grades.
Now, I am taking a Bachelor of Science major in Office Administration, the same

University I attended during my senior high school. This course was not my first choice
because I want to study Education. The result of my entrance exam didn’t meet the
average grade that the Education course needed so I end up taking office administration. I
don’t have any regret in my course right now because I realized that some of my skills are
here that are needed in my course right now such as typing, using Microsoft Office,
Editing, etc.
 I learned that making a research paper will never be perfect. You have to recheck
everything and revise it.
 It takes time. It was something I discovered as I was working. Time management is
something I am learning. This is the first time I've had to manage my time properly.
Reading difficult journals, synthesizing and writing, gathering data, analyzing data,
and comprehending the research process itself are all part of the research process.
Jenevie L. Romero
Contact No: 09653352027
Email: marjelcarte5@gmail.com
Life Motto: "Chase your dreams, but always know the road that'll lead you home
again."
My name is Jenevie L. Romero, and I was born on the 13th of November, 1999 in Barangay
San Jorge Las Navas Northern Samar, and At age of 22, I already have a beautiful baby girl
her name is Marviana Chloe R, Docot my daughter and my partner’s name is Marco D. Docot,
and My parents were Joel Romero and Bethsaida Romero and I have one older brother, his
name is Michael Romero, he was born on 31st of December, 1997. For me, my brother is the
best, because he is always there for me to guide me to all the decisions that I make in my life,
together with my parents and my grandparents. In short, I’m very blessed to have them in my
life. My brother and I grew up in the care of our grandparents, because our parents had to
work far away to give us a good life and meet our daily needs, and even though they are far
away from us, my brother and I still feel their love.
When I was six years old I started schooling. I went to kindergarten through sixth grade at
Barangay San Jorge Elementary School and while I was there, I was always a part of those
who were given an honor roll and received many awards. Then I attended My high school at
Colegio De Las Navas ( Laboratory High School) and there I also won a couple of awards
and get different kinds of certificates because I attended so many events, and in my senior
High school I went here to Makati city to study at Senior High School of the University of
Makati, and until now that I’m in community college, I’m still here in the University of
Makati.
Life for me means family and friends because family and friends are those people who are
always there for me to guide and love me unconditionally, they are always there for me to
make me happy in times of sadness and despair in life, they always motivate me to continue
doing what makes me happy even some people underestimate me, and now that I have
already a family of my own, therefor life is more meaningful because of them, I’m very
inspired to continue my studies to give them a better future especially to my daughter.
I think the future that I have after I graduated from college, I’m probably a businesswoman
because that’s what I’ve been dreaming of for myself and my family since the beginning, and
that time I was able to give what I wanted to give to my family, that was the house they had
long dreamed of, and also the small business that would help with their daily needs.
 I learned that starting up a business is not easy to do, there are some difficulties that I
need to overcome.
 As an Entrepreneur I need to be more creative and productive, I should know what is the
purpose of my business,
 I need to identify the possible problems and solutions that can affect my business in the
future.
Eugene M. Dizon
Contact No: 09391211932
Email: eugenedizon00019@gmail.com
Life Motto: Don't wait for the perfect moment, grab every moment and
make it perfect.
I am Eugene M. Dizon and I was born on the 19th of March, 2001 in Santa Cruz, Manila City.
I live at Purok 13 South Daang Hari, Taguig City. My parents were Julieta Dizon and Mario
Dizon. My mother works at Soniford Maeller Corporation as a Supervisor while my father
works also at Soniford Maeller Corporation as a Dental Technician. I have a brother named
Michael Dizon who is also working. In our family, I am the youngest and only still in school.
I am always studying hard since elementary to learn more and to have a good grade. I always
love to see how proud my parents were when I am showing my report card to them. Ever
since, I find it as my passion to study hard in order to achieve greater achievement in my life.
Right now, I am a third-year student currently studying at University of Makati taking
Bachelor of Science Major in Business Administration. In these 3 years, I find myself
enjoying every moment of it. My goal for my studies is to be a Latin Awardee because I
know how it will make my parents happy and proud. At the same time, it will also boost my
confidence on my skills and capabilities as an individual. After that, I would apply as a Court
Stenographer because I honestly learn to love and appreciate Stenography. It is quite
challenging at first, but I am now enjoying it more than ever, that is why I want to become a
Court Stenographer in the future. I know that this job, will give me a comfortable life that I
and my family deserve. Above all, I am really looking forward to have a bright future with
my attitude, skills, and passion.
 In conducting business research in this new normal, effective communication is the key.
In doing so, we were able to understood every little detail on how to make our study
possible.
 It is important not just to rely on the team leader, but also to every member.
 It would take a lot of patience in order to make the study into reality. There would be
many revisions to make the study more accurate.
 It is important to take advantage of every resource in collecting data to have new ideas
that would be used for the betterment of the study.
 Enjoy every moment even there are times that are so stressful because in this way,
everyone in the group will still be able to motivate each other and can still formulate and
analyze ideas to have teamwork in finishing the study.

Problems Faced by The Select Entrepreneurs in Starting Up A Business

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UNIVERSITY OF MAKATI

J.P. Rizal Extension West Rembo, Makati City

PROBLEMS FACED BY THE SELECT ENTREPRENEURS IN

In Partial Fulfillment of the Requirements for the Degree of

Charrise Ann O. Marjes

Chapter III Results 18

DANIEL E. HEBRON, DBA

ALLIE V. AGUSTION, Ed.D., DBA SOLZHENITSYN T. BASAL, DBA

Approved on December 2021 by the Panel of Evaluators on Oral Examination with

ALLIE V. AGUSTION, Ed.D., DBA SOLZHENITSYN T. BASAL, DBA

DENNIS A. SANDOVAL, Ph.D

valuable thoughts and ideas that significantly improved the paper.

and assistance in making this research project possible.

This primarily focused on the problems faced by 20 selected entrepreneurs in starting up a

starting their business.

Marjorie C. Elcarte, Jenevie L. Romero

Institution: University of Makati

Degree: Bachelor of Science in Office Administration

Date: December 2021

business simply means to undertake a business. Entrepreneurship is linked to opportunity

end, the management of entrepreneurship will create sustainabsility to promote economic

growth (Chen et al, 2018).

Tehseen and Ramayah (2015) assert that an entrepreneur is an individual who

new products or services, by improving the existing methods of production or service.

According to McKenzie et al. (2010), entrepreneurs hold the responsibility of improving

besides contributing to the national economic income.

Starting up a business can be both challenging and exciting. Inexperienced

entrepreneurs, when entering the business sector, faced immense problems.

problems faced by 20 selected entrepreneurs in Makati City and Taguig City.

I. STATEMENT OF THE PROBLEM

entrepreneurs in starting up a business.

1. Demographic profile of the respondents in terms of:

1.3 Civil Status

1.4 Educational Attainment

selected entrepreneurs in starting up theirbusiness.

2.1 Developing business idea and reason

2.2 Raising capital for start-up

2.3 Finding the right business location

the selected entrepreneurs in starting up their business.

3.1 Dealing with competition

3.2 Unforeseen business challenges and expenses

3.3 Finding good customers

3.4 Finding good employees

3.5 Keeping up with industry changes and trends

face in starting up their businesses.

II. SIGNIFICANCE OF THE STUDY

process of doing so.

such as the introduction of entrepreneurship and the challenges faced by entrepreneurs in

starting up a business to become successful entrepreneurs.

would enhance the present study.

related research that might be needed in their study.

III. SCOPE AND LIMITATION

problems faced by the select entrepreneurs in starting up a business. It was conducted to

come up with possible recommendations and strategies for new entrepreneurs.

problem to provide the researchers the backgrounds needed to be studied.

can satisfy the public by "value creation out of nowhere."

energy on your own entrepreneurial tasks.

capable of dealing with these unusual rain in the business field.

shortage of funds if not addressed properly eventually leading to business failure. As a

mentally and physically prepared for any of these possibilities.

characteristics that a supervisor may acknowledge.

work with experts who know how to recruit top talent.

someone with the usual list of qualifications.