Abstract:

The Global Entrepreneurship Monitor (2024) reported that, for almost 25 years of assessing the entrepreneurship program, they found out that the entrepreneurship education as one of the key indicators, has seen little progress, indicating minimal improvement over the years. The slow progress in entrepreneurship education is also reflected in the economic development of the Philippines. Yeung (2020) noted that around 38% of the workforce is self-employed, primarily within the informal sector where many operated small-scale businesses. However, only a few entrepreneurs manage to sustain their ventures and create more jobs for the community. Moreover, Zhue (2024) disclosed that 49.7% of businesses fail within their first five years of operation. On one hand, Conchada (2017) pointed out that while the government is offering support to individuals with entrepreneurial potential, he also underscores the significant challenges faced by the entrepreneurs in the Philippines, such as corruption, inadequate infrastructure, and limited access to financial services.