Entrepreneurial Skills of Rural Based Entrepreneurs: Basis for Enhancement Program

Abstract

The study primarily aimed to assess micro and small enterprise owners' entrepreneurial skills in a rural-based economy and identify the needs and problems they encountered in managing their small business, which will serve as an input for proposing an enhancement program to help the micro and small entrepreneurs. The study used a descriptive survey. Results show that micro and small entrepreneurs possess planning skills. They always assess the internal and external environment before making any business decisions, set goals and targets, and think of strategies on how to achieve those goals. According to their demographic profile, there was no significant variation on the entrepreneurial skills in terms of planning, marketing, and interpersonal skills of the micro and small entrepreneurs. Their management and personal maturity skills differed according to their age and years of experience as entrepreneurs. Education and experience contribute to the development of entrepreneurial skills, such as marketing and personal maturity skills. Micro and small entrepreneurs' identified problems were inabilities to set long-term plans and study different aspects of business, competition, innovation, lack of financial capital and knowledge on bookkeeping, and the high operating cost of business and receivable management.