THE LEVEL OF KNOWLEDGE OF YOUNG ENTREPENEURS IN BAGONG SILANG, CALOOCAN CITY

Abstract

This study explores the entrepreneurial landscape of Bagong Silang, Caloocan City, where a new generation of young business owners is reshaping the local economy. By investigating the educational backgrounds, experiences, and insights that fuel these entrepreneurs, the research aims to identify the key drivers behind their success. The study will also examine how these entrepreneurs are contributing to economic development within their community and offer insights into the broader implications of their business ventures. Through this research, we seek to better understand the factors influencing entrepreneurial success and the potential for fostering sustainable economic growth in urban areas like Bagong Silang. This study uses a quantitative approach to assess the entrepreneurial knowledge of young business owners in Bagong Silang, Caloocan City. A descriptive design will be applied, selecting a diverse group of entrepreneurs aged 18-28. Data will be collected via surveys, which will capture demographic details, knowledge levels, and challenges faced by the entrepreneurs. The data will be analyzed using statistical methods to identify trends, correlations, and insights into the factors influencing their entrepreneurial success. The results will help shed light on the key drivers of entrepreneurship in this growing community. The findings reveal several key insights from the study. Most respondents, aged 28, represented 20% of the total sample, with the majority (56%) having a capital range of 1,001 to 5,000 pesos. In terms of business knowledge, the young entrepreneurs excelled in business skills, particularly in negotiating. Regarding leadership skills, they were skilled at fostering a positive work environment and communicating effectively. When it comes to management skills, they showcased a strong ability to generate new ideas.

The study also highlighted challenges faced by these entrepreneurs, with the most common being dealing with stress and self-doubt. In terms of coping mechanisms, a key strategy for overcoming barriers was measuring customer demand. Furthermore, product development and innovation were primarily driven by the ability to create ideas for products, while for pricing and promotion, the strategy of price skimming was most frequently employed. These findings offer valuable insights into the competencies and challenges faced by young entrepreneurs in Bagong Silang, Caloocan City. The discussion reveals that young entrepreneurs in Bagong Silang, Caloocan City demonstrate a high level of knowledge that enables them to innovate and foster personal and business growth. Their ability to create new processes and drive business success underscores their potential as change-makers within the local economy.

An important aspect of supporting these entrepreneurs is the role of institutions like Go Negosyo. The organization’s initiatives, such as mentorship programs and access to financial resources, play a pivotal role in enhancing the entrepreneurial ecosystem in Bagong Silang. By offering these forms of support, Go Negosyo equips young entrepreneurs with the skills, guidance, and financial backing they need to thrive.

The effectiveness of Go Negosyo's interventions can be seen in how they help improve the knowledge and entrepreneurial capabilities of young business owners. This institutional support is essential for fostering a more robust business climate, which in turn contributes to broader economic growth and development within the community. The research highlights how such initiatives are key in empowering young entrepreneurs, providing them with the tools needed to overcome challenges and achieve sustainable success.