Micropreneurs: Rise Up to the Challenge of the New Normal

Assoc. Prof. Jessie I. Quierrez, Dr. Leo G. Alcaraz, Asst. Prof. Jennifer DG Munsayac

College of Business Administration Polytechnic University of the Philippines

DOI: https://doi.org/10.35609/gcbssproceeding.2024.1(96)

ABSTRACT


COVID-19 pandemic has severely affected the Philippine business industry impacting the country's economy, livelihood, services, and employment opportunities. Due to many community lockdowns imposed, business establishments have been striving to recover to adapt to the "New Normal" through marketing strategy, financial resources, government support and business plan. This study aims to determine the different factors which were perceived as challenges to succeed in business at the New Normal among micro food business entrepreneurs (micropreneurs) in Metro Manila. Furthermore, it also sought to determine the perceived level of influence of the micropreneurs' personal characteristics and type of micro-food business. This used a quantitative research design with 399 respondents who were randomly chosen from its population and complete an online survey form. Findings revealed that majority of the respondents agreed that age of entrepreneur/s, their highest educational attainment, business training undergone as well as the type of micro-food business handled by them are highly influential to the rising up to success of the micro-food business. Moreover, all factors such as sustainability, profitability and stability were perceived by micropreneurs as Highly Challenging to the success of the micro-food businesses. A proposed research paradigm was also presented. It is hoped that this study may bring further knowledge to the existing book of entrepreneurs and that this may assist various groups of interested individuals or organization who are keen on understanding the ins and outs of micro-food business.


Keywords: challenge, indicators, micropreneurs, New Normal, sustainability.

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