Women Entrepreneurs: influential Factors as Basis on Successful Management in Malungon

Authors

  • Hazel Mae E. Booc

Keywords:

Business, Malungon, Women entrepreneurs, Successful Business

Abstract

INTRODUCTION

Entrepreneurship is an important factor of economic growth, productivity, innovation, and employment. Women are known to have complex decision making, unlike men. Converting ideas into economic opportunities is the critical issue of women entrepreneurs. The issues to be addressed in this study were to identify what types of business that the women entrepreneurs in Malungon commonly build, what challenges they commonly encounter, and what influential factors are practiced that make them successful.

METHODS

The researcher used descriptive research design utilizing percentage and frequency backed up with a qualitative research design. There were fifteen (15) subjects in the study purposely chosen because they were perceived as successful women entrepreneurs by the Municipality of Malungon. The instrument utilized was a structured questionnaire and gathered through personal interaction. Responses were transcribed and themed. Ethical considerations, sending consent letters, and confidentiality of names was done accordingly.

RESULTS

Among the subjects, sixty-three percent (63%) of them were engaged in merchandising, thirty-one percent (31%) were in servicing, and the rest were in manufacturing. The common problem upon the starting of their business is the lack of finance followed by the challenge in taking a business while combining work and family life, and by lack of information. During the run of the business, the common problem of the one-fourth is a large number of competitors, followed by time management, and financial problems. There were four equally influential factors for successful management, these are high self-confidence, honesty, passion, and skills. Having a skillful mind creates ideas that would be very beneficial to the business. Those who display more self-confidence have the highest entrepreneurship rate. Based on the interview, earning money is the major factor that make the women entrepreneurs in Malungon start business.

DISCUSSIONS

Hence, the type of business that the women entrepreneurs are engaged in is merchandising. Many women entrepreneurs want to earn money by selling goods instead of reproducing them. Thus, business capital is one of the main challenges in putting up the business. However, Filipinos are encouraged to have higher self-confidence and love of work or passion for retail to become successful.

Published

2019-01-18