The Filipino generation Z’s entrepreneurial intention: What drives their business mindedness?

Abstract

Entrepreneurs play pivotal roles that affect the economy. These roles are job creation, wealth generation, economic growth, and innovation. According to WorldBank data, they account for around 90% of enterprises and more than half of all jobs in the globe. In emerging economies, formal SMEs account for up to 40% of national income (GDP). The prolonged effects of the COVID-19 pandemic which resulted in job losses have encouraged even the Filipino Generation Z to engage in entrepreneurial activities. This supports various studies conducted by research firms recently that 54% of Generation Z wanted to start their own business venture. Thus, this research aims to determine the influence of entrepreneurial attitude, social valuation, entrepreneurial skills, and entrepreneurial knowledge on entrepreneurial intention.  There were 110 Generation Z respondents who answered the adopted survey questionnaire. The researchers were able to secure permission from the original author to use the research instrument. The research utilized a quantitative research design primarily descriptive-correlational. The data were processed using regression analysis to test the relationship of variables.  The regression results preceded the acceptance of the 4 hypotheses which means that entrepreneurial attitude, social valuation, entrepreneurial skills, and entrepreneurial knowledge significantly influence entrepreneurial intention.  The results will be considerably useful to academics to promote entrepreneurship from high school to college level, to future entrepreneurs in identifying the factors that influence entrepreneurial intention, to the government and its regulators for policy development, and to researchers who plan to expand the literature on the entrepreneurial mind.

Keywords: {'name': 'Entrepreneurial Attitude, Entrepreneurial Intention, Entrepreneurial Knowledge, Entrepreneurial Skills, Generation Z, Social Valuation'}

Authors & affiliations

Antonio Jr Estrada Etrata
Affiliation not supplied

Jackie Lou Raborar
Affiliation not supplied

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