Developing a Measuring Instrument for Entrepreneurial Motivations and Obstacles in the Philippines
Ringgold P. Atienza
Entrepreneurship is a tool that can drive up the economy and decrease the
unemployment rate of a country. This catalytic nature of entrepreneurship
makes it an important priority for the government and educational institutions
to promote entrepreneurial activities in the community. However, most studies
have not considered both motivation and obstacles when modeling
entrepreneurial intentions. This study contributes to the body of knowledge by
providing tested and validated measuring instrument on entrepreneurial
motivation and obstacle specifically in the Philippine context. This study was
conducted in Ozamiz City, Misamis Occidental province, Phlippines.
The drop-off/pick-up method was employed in selecting the establishments in
the locality targeting employees with intentions to start a business but have not
yet acted on their intention. The principal components analysis was used in this
study. Based on the results, this study provides two factors for entrepreneurial
motivation, namely, intrinsic and social motivation, and need for personal and
financial autonomy, and three factors for entrepreneurial obstacles, namely,
capital obstacle, skills and support obstacle, and economic sentiment obstacle.
Results also showed that financial security provides the highest motivation
among others, and access to financial capital is the greatest obstacle. With this,
the government may focus on these issues on providing help among those who
want to create business start-ups.