Chapter 1

Introduction

Entrepreneurship increasingly undertakes a significant function as the global

economy continues to advance, providing aid in the progression of economic status of

developing countries. It is considered one of the factors that influence the growth of a

country, providing aid to develop progressing and impoverished sectors. Young people

involved in entrepreneurial activities play an important socio-economic role (Lez’er et

al., 2019). Moreover, it is highly encouraged in some countries to procure and possess

an entrepreneurial mindset among youths. However, possessing an entrepreneurial

venture while studying would impact student entrepreneurs in managing both the

responsibilities of being an entrepreneur and a student. Also, as time evolves rapidly,

the course of operation of entrepreneurial ventures also adapt to new changes, which

may also affect the businesses of student entrepreneurs.

Student entrepreneurs undergo business travails, specifically the constant fear,

apprehensions, and financial struggles. According to Pavone (2018), although

millennials value entrepreneurship, they think that it is out of reach.  Furthermore, these

travails have affected many aspects, creating conflict of interest between education and

business. Many studies have discussed the challenges of large-scale entrepreneurs.

However, only few studies have researched about the travails of student entrepreneurs,

taking into account their situation both managing business and education. Unlike other
researches, this study provides significant objective to recognize mental health stability

as a common factor of the aforementioned travails of student entrepreneur.

In the recent past, the Government of Uganda has initiated programs to support

youth and women entrepreneurship such as: the youth livelihood program established

to provide skills development, livelihood support and institutional support; the youth

venture capital fund in partnership with DFCU Bank etc. (Orobia et al., 2020). However,

it was revealed that the most significant challenges that young entrepreneurs faced

were insufficiency of entrepreneurial knowledge in establishing a business since

entrepreneurial education available is mainly theoretical rather than practical,

inadequate skill that the student entrepreneur possess, and poor possibilities to receive

a loan. Young people running business enterprises faced similar challenges. Similar

obstacles prevented them from expanding their endeavors beyond the beginning point

(Olaniran, 2018). Meanwhile, the number of student entrepreneurs in the UK has

increased (Evans, 2019; Santander Universities, 2019). According to research

conducted by the financial services company Santander, nearly a quarter of students

already run their businesses or have plans to do so while at university. They had

established a successful business and were constantly managing it in the UK or abroad

(Stella Xu et .al., 2021).

The related studies presented clearly explained why it is important to scrutinize

the travails that are experienced by student entrepreneurs. Hence, this study focuses on
analyzing the travails of First year BSA student entrepreneurs of the University of

Mindanao Digos College. Moreover, this study seeks to consider the effect of these

travails to the academic responsibilities of the aforementioned student entrepreneurs.

This study is anchored through the lens of the Expectancy Motivation Theory

hypothesized by Vroom (1964, as cited in Kim-Soon, Ahmad, & Ibrahim, 2016). Ajzen

(1991, as cited in Kim-Soon, Ahmad, & Ibrahim, 2016) further explained that the

behavioral intentions are influenced and molded by motivational factors, such as an

individual’s attitude towards the behavior, yearning to succeed and value the reward

obtained. People engage in a business venture with the goal of earning profit from

investment, considering it as a driving factor in continuing the venture (Alton, 2015).

Bearing an entrepreneurial mindset with a goal of yielding profit and skills has also

shaped student to engage in entrepreneurial ventures. Furthermore, this study is

abridged on Modern Organizational Theory formulated by renowned theorist Max

Weber which emphasizes that a business organization is considered as an open system

which is adaptive to the changes occurring in its environment including both internal and

external factors. This theory points that the growth and flunk of an organization is

determined by the environmental changes. The mentioned characteristic relates to a

probabilistic model; wherein the result is uncertain and relies on chances of occurrence

(Business Jargons, 2019). With reference to the theory, it can be inferred that an

entrepreneur can encounter different travails in managing a business venture internally

and externally depending on the environmental changes. Moreover, according to the

third assumption of the Creation Theory of Entrepreneurship hypothesized by Alvarez

(2005), uncertainty is an inevitable circumstance of entrepreneurship. It discusses that

the future and possible outcomes of a decision is undetermined, troubling decision-

makers and entrepreneurs in operating the business. These theories will aid in

comprehending the travails of First Year BSA student entrepreneurs of the University of

Mindanao Digos College and how it affects the way they deal with academic demands.

As previously stated, this study will determine the travails of First Year BSA

student entrepreneurs in the University of Mindanao Digos College. The researchers of

the study aim to address the following specific questions:

1. What are the travails of student entrepreneurs?

2. How do these travails interrupt their way of coping with academic demands?

This study finds its significance in the following:

Students: The primary beneficiaries of this research are the students. This study

will be beneficial to aspiring student entrepreneurs. The findings of this study will serve

as a guide in handling the travails that they are facing and aid them in managing their

studies and business efficiently.

 Future Researchers. The graduates will gain much from this study-guided

introspection as the literature by knowing the challenges to avoid in engaging

businesses.

Researchers. They will gain much from this study in giving specific information

about avoiding challenges as an entrepreneur.

Teachers. As the second parent of students, the teachers will also benefit from

this study. It will help them know the consequences and challenges of student

entrepreneurs. Moreover, this will become their medium to help students understand the

student entrepreneur in dealing with academic matters.

School. The study will contribute to the school's higher officials to think of

programs that will help the students efficiently handle a business. This will help the

officials take action and prioritize students who experience travails in engaging

business. Since there is an awareness, there would be an action that would help

students not just to be aware but to help the student to be successful, and since it helps

the students, it will give a hugely positive outlook in the school, which is students are

productive.