Opening a Small Business: Perceptions of Some Grade 12 ABM students

in ACLC College of Tacloban

Abarca, Mecca Ella                                           Gonzales, Jodell

Bustillos, Merry Joy                                          Loriaga, Honiebelle

Cañas, Joey                                                       Ompod, Charys

Daroy, Jocelyn                                             Racrac, Wendel Martin

Donaire, Sherlyn                                               Quiepo Jamaica Marie

Block 4- ABM 
 
 
  
A Research Project
Submitted in Fulfillment
of the Senior High School Program
Academic Track – ABM
 
 
ACLC College of Tacloban
Senior High School Department
Tacloban City, Leyte

2023
CHAPTER I
 INTRODUCTION

Background of the Study

Entrepreneurship has become an increasingly important aspect of the modern economy,

with many looking towards self-employment and small business ownership to achieve financial

stability and personal fulfilment. Starting a small business requires various skills, knowledge,

and attitudes. Understanding how the next generation of entrepreneurs perceives these factors

is essential. Grade 12 ABM (Accountancy, Business, and Management) students represent a

group of young people likely to pursue careers in business and entrepreneurship. Studying their

perceptions towards starting a small business can provide valuable insights into how future

entrepreneurs can be supported and encouraged.  

Previous research has shown that various factors, including personal attitudes, cultural

norms, and education influence perceptions towards entrepreneurship. Therefore,

understanding the perceptions of Grade 12 ABM students towards opening a small business

requires an exploration of their beliefs, values, and experiences. Specifically, it is essential to

examine the barriers and enablers that students perceive in starting a small business and their

level of interest and willingness to pursue entrepreneurship as a career. Such insights can

inform entrepreneurship education and policy and help promote a culture of entrepreneurship

among young people.

 The study aims to contribute to the growing literature on entrepreneurship education and

student attitudes towards business ownership. The study employed a qualitative research

design, using interviews as the primary data collection method. The sample consists of Grade

12 ABM students in ACLC College of Tacloban, with the number of participants determined by

data saturation. The findings of the study will provide valuable insights into the perceptions of

Grade 12 ABM students towards opening a small business and can help inform

entrepreneurship education and policy, as well as develop strategies to support and encourage

entrepreneurship among young people.

Statement of the Problem

This study seeks to explore the perception of Grade 12 ABM students at ACLC College

of Tacloban towards opening a small business to give a solution and progress to the emerging

findings.

Specifically, the study seeks to answer the following research questions:

1. What are the perceptions of the participants in opening a small business?

2. How do these perceptions influence the participants in opening a business?       

Significance of the study

This study seeks to explore Grade 12 ABM students at ACLC College of Tacloban

towards opening to give a solution and progress to the emerging findings.

3
Specifically, this study has immense benefits for the following:

Students. They are primary recipients as it provides them with the knowledge and

awareness of the importance of gaining sufficient entrepreneurial abilities and mindset in

starting a small business. It fosters creativity, inventiveness, and solidarity in students,

transforming them into more capable individuals prepared to face the realities of the outside

world. Additionally, the information presented can push them to learn and act accordingly on the

different ABM-specialized subjects for better entrepreneurial enhancement.

Teachers. The result of the study paves the way for them to conceptualize efficient

techniques and provide practical teaching approaches to make learning more in-depth and

successful since they are considered the backbone and guide of the students to achieve their

goals.

School. The result and findings of the study can assist academic administrators, K-12

curriculum, and educational business program developers in assessing and studying the current

status of ACLC College of Tacloban related to the performance and development of students as

influential entrepreneurs of the future. This matter will be able to significantly review their

existing entrepreneurship education, especially in Accountancy, Business and Management

strand curriculum. Could make some improvements and amendments to solve the problem.

Future Researchers. The concept described in this study will serve as reference data in

future research or be utilized to verify the adequacy of other related discoveries.

4
Scope and Limitations of the study

This study aims to explore the perceptions of Grade 12 ABM students towards

opening a small business by examining the influence of two primary inputs on their perceptions:

educational background and experiences in entrepreneurship and personal and environmental

factors such as family and peer support. The study will be conducted at ACLC College in

Tacloban, Philippines, and data will be collected through in-depth interviews with a purposive

sample of five Grade 12 ABM students. The qualitative data analysis technique of thematic

analysis will be used to identify common themes and patterns in the students' responses.

The primary limitation is its sample size, which is limited to five Grade 12 ABM students.

Therefore, the survey findings may only be generalizable to some of the Grade 12 ABM

students’ population. Additionally, the study relies on self-reported perceptions of the students,

which may be influenced by social desirability bias or other factors. The study examines actual

experiences of opening a small business or the success rates of small businesses in the area.

Finally, the subjective interpretation of the researcher in identifying themes and patterns in the

data may introduce bias into the study.

Theoretical Framework

             The Theory of Human Capital supports this study by Gary Becker (1964) and the

Theory of Entrepreneurial Events by Shapero and Sokol (1982). Becker was an economist who

won the 1992 Nobel Prize for his microeconomic analysis of the impact of economic

considerations on
 5

human behavior and interaction. Moreover, Shapero and Sokol were the ones who developed a

model on variables affecting entrepreneurial intentions.

             The Human Capital theory by Becker (1964) mainly assumes that formal education is

essential and necessary to improve the productive capacity of a population. He defined human

capital as "activities that influence future monetary and psychic income by increasing resources

in people" (Becker, 1994, p. 11), and its principal forms were schooling and on-the-job training.

However, he also considered medical care, migration, and searching for information about

prices and incomes. It emphasizes the role of education in increasing the individual's productive

capacity and self-efficacy by enhancing their reasoning capability. Entrepreneurial hum, capital

in this light, is defined in terms of an individual's entrepreneurial abilities and attitudes.

             Many people and governments have seen entrepreneurial education as a response to

our increasingly complex world, requiring all people and organizations to be increasingly

equipped with entrepreneurial competencies (Gibb, 2002, cited by Lackeus, 2015). Along with

such concern, schools have opened courses in business and including entrepreneurship

courses.

             Entrepreneurship education may not only discuss the concepts or ideas about business,

marketing, strategic planning, etc., but entrepreneurship education must also enhance

entrepreneurial attitudes such as creative thinking, innovation, risk-taking, drive and

determination. These are the values that are improved and enhanced. Therefore, measuring the

effect of entrepreneurial knowledge or entrepreneurial education should not only be based on

grades of their understanding of business but also on skills and attitudes as a result of what they

have learned in the subject (Gedeon, 2017).

 6

           In line with this, according to Shapero and Sokol's (1982) theory of Entrepreneurial

Events, the desire to be self-employed depends on the individual's Perception of desirability and

feasibility concerning entrepreneurship. An individual first needs to see the act of self-

employment as desirable before the formation of interest and hence engagement. Feasibility

relates to an individual's Perception of available resources, knowledge, financial support, and

skill. On the other hand, desirability relates to the individual's attitude, values, and feelings,

shaped by the social environment of family, friends, and colleagues.

             This theory considers entrepreneurial behavior as a result of various complementing

factors influencing the individual's perceptions. The focus is on life path changes that impact

perceptions of desirability and feasibility associated with new firm formation. Necessary life

changes, and displacement, cause a change in entrepreneurial intention or interest and

subsequent behavio. Removal can occur in a positive (financial support) or negative form (job

loss).
 7

Conceptual Framework

Figure I. The Conceptual framework of the study.

Personal and -Family Background

Environmental -Peer Influence
Factors -Family Support
-Financial Support

Perceptions of
Entrepreneurial Entrepreneurial Relevanc
Grade 12 ABM
self-efficacy Education e of ABM
students towards
Opening a Small Curriculu
Business. m

Perception of
Feasibility
Entrepreneurial
Behavior
Perception of
Desirability

The framework of the study is displayed by a flow chart and is meant to show the factors

that influence the perceptions of Grade 12 ABM students towards opening a small business.

As can be seen in the flow chart, the outcome variable, or how the students perceive

starting a small business, is displayed on the left side of the paper. As shown by the arrows
pointing in the direction of the outcome variable, personal and environmental factors

represented by an oval-shaped symbol, entrepreneurial self-efficacy, and entrepreneurial

behavior directly

influence students’ perceptions of starting a small business.

Additionally, entrepreneurial self-efficacy is influenced by entrepreneurial education,

which is also influenced by the relevance of ABM curriculum. The ABM curriculum can have a

significant impact on entrepreneurial education, by providing students a foundation of

knowledge and skills. It typically covers core business subjects that provides a comprehensive

understanding of key business concepts, which is essential for aspiring entrepreneurs. By

engaging in entrepreneurial education, students can develop a deeper understanding of the

entrepreneurial process, which can enhance their self-efficacy beliefs. Learning about

successful entrepreneurial ventures, acquiring relevant skills, receiving feedback and support

can boost individuals’ confidence in their ability to start and manage their own businesses.

Furthermore, perceptions of feasibility and desirability influence entrepreneurial

behavior, which also shapes the perception of Grade 12 ABM students towards opening a small

business. Perceiving entrepreneurship as both feasible and desirable, greatly enhances an

individual entrepreneurial intention and likelihood of pursuing entrepreneurial behavior, which

also influences perceptions on opening a small business by inspiring individuals through role

models, encouraging risk-taking and many more.

Definition of Terms

           The terms are defined conceptually and operationally to give the researchers a vivid

understanding of the terms used in the study.

Entrepreneurship - Creating and managing a new business venture to make a profit

Grade 12 ABM students - Students in their final year of high school enrolled in the

Accountancy, Business,

and Management (ABM) strand. This strand focuses on developing students' business, finance,

and management knowledge and skills.

Perception - The process by which individuals interpret and make sense of sensory information

from their environment. In the context of your study, Perception refers to the way Grade 12 ABM

students analyze and understand the concept of opening a small business.

Small business - A privately owned and operated business typically has fewer than 500

employees and less annual revenue than a large corporation.

 10

CHAPTER II

REVIEW OF RELATED LITERATURE

           This chapter is a list of all related literature and studies related to our study, which helps

familiarize information relevantly and similar to the present study.

Foreign literature

Entrepreneurial self-efficacy is “an individual’s own belief in his or her skills and abilities

linked to entrepreneurial activity as defined by Barakat et al.(2014). Entrepreneurial self-efficacy

measures the degree of a person’s beliefs in his/her own capabilities to implement the required

steps to start a business (Bullough et al.,2014). In a study by Tracey et al., (2016), the authors

developed a multi-dimensional definition of entrepreneurial self-efficacy consisting of cognitive,

social, and motivational self-efficacy. They found that these components had varying degrees of

influence on entrepreneurial intention and behavior, and that perceived feasibility and

desirability mediated the relationship between self-efficacy and start-up behavior. This suggests

that individual perceptions, such as self-efficacy, and environmental factors, such as perceived

feasibility and desirability, are important factors to consider when examining entrepreneurial

behavior.

Local literature
 The study conducted by Garcia et al. (2019) aimed to assess the entrepreneurial

intentions of Accountancy, Business, and Management (ABM) students in private schools in

Nueva Ecija, Philippines. They found that ABM students have a strong intention to start their

own businesses and be their own boss, and that their family has a significant influence on their

decision to become entrepreneurs. The study also revealed that the motivation of ABM students

to start a business is not focused on personal gain but rather on supporting potential

entrepreneurs, using their creative talent, and taking risks. To establish a business, sufficient

savings and entrepreneurial skills are necessary, and it is important to have the right mindset to

consider the uncertainties and risks involved (Garcia et al., 2019).

Perception of ABM students towards opening a small business has gained attentions

from researchers in recent years. According to Hong and Lee (2019), ABM students are

extensively taught about business management, accounting, and finance, which increases their

confidence in starting small businesses. Additionally, some students believe that opening a

small business is a great way to improve their entrepreneurial skills, which could lead to

potential success in the future.

Furthermore, in a study conducted by Abundo and Polinar (2018), it was found that ABM

students perceive opening a small business as a way to gain practical experience and apply

their theoretical knowledge. These students also consider entrepreneurship as a more stable

career option, compared to working in a traditional corporate environment.

However, the perception of ABM students towards opening a small business is not

always positive. A study by Balansay (2019) found that some students see starting a small

business as a risky venture that requires substantial financial investment and personal

sacrifices. These students prefer the security and stability of working for a company
 12

instead of starting their own business.

In conclusion, ABM students' perception of opening a small business is multifaceted, and

it depends on individuals' experiences and beliefs. While some see it as a viable and exciting

career option, others may view it as a risky venture. Overall, it is essential to explore the factors

that contribute to ABM students' perceptions of entrepreneurship to provide the best support

and resources to help them succeed.

Foreign study

According to Liu et al., (2017), family support positively influences the entrepreneurial

intentions of university students. Another study by Okhomina (2019) showed that peer influence

significantly impacted students' attitudes towards entrepreneurship. Furthermore, a study by

Mihaila et al. (2019) found that entrepreneurial education positively influenced students'

perceptions and attitudes towards entrepreneurship. These foreign studies provide insights into

the factors that may influence the perceptions of Grade 12 ABM students towards opening a

small business.

The study by Vaismoradi et al. (2016) explored the use of content analysis and thematic

analysis in conducting a qualitative descriptive study. In their study, they recruited a sample of

five Iranian women with breast cancer and conducted semi-structured interviews to explore their

experiences of living with the illness. The data were analyzed using both content analysis and

thematic analysis, and the authors concluded that both approaches could be useful in qualitative

research,
 13

depending on the research question and data. In terms of sample size, they noted that the use

of a small sample size(i.e., five participants) was appropriate for their study, as they were aiming

to explore the experiences of Iranian women with breast cancer, rather than generalize their

findings to a larger population. The authors also emphasized that the quality of data, rather than

the sample size, was the most important factor in qualitative research, and that researchers

should carefully consider their research question and data analysis methods when determining

the appropriate sample size for their study.

Local study

         Local study by Gallardo et al. (2018) investigated the impact of family background and

entrepreneurial education on entrepreneurial intention among senior high school students in the

Philippines. They found that family background, including having a family member who is an

entrepreneur or having a parents who encourage entrepreneurship, positively influenced

entrepreneurial intention. Moreover, they found that entrepreneurial education is also

significantly positively affected entrepreneurial intention.

 
 14

CHAPTER III

METHODOLOGY

           This chapter presents the research design, locale, population and sampling method,

research instrument, data gathering procedure, and data analysis.

Research Design

            This study will use a qualitative research design to explore the perceptions of Grade 12

ABM students towards starting and managing a small business. The data will be collected

through interviews, and the analysis will involve identifying themes and patterns in the data. The

study will be conducted at ACLC College of Tacloban.

Locale of the Study

           This study was conducted at ACLC College of Tacloban during the 2022-2023 school

year. It is located at 352 Real Street, Tacloban City. The school was chosen because it is easily

accessible to the researchers gathering data. The study was subjected to a sample size of

ACLC Senior High School students from the Blocks of Grade 12 ABM class of 2022-2023.
Figure 2. ACLC College of Tacloban Real Campus

Population and Sampling

The population for this study is Grade 12 students taking the Accountancy, Business,

and Management (ABM) strand at ACLC College of Tacloban. The sampling technique used for

this study is purposive sampling, a non-probability sampling method where the researcher

intentionally selects participants who meet specific criteria. In this case, the researcher will

select Grade 12 ABM students who have expressed interest in starting a small business and

those with some entrepreneurship knowledge or experience.

The sample size for this study will be determined through saturation sampling, a method

used in qualitative research where the researcher collects data until no new

information or themes emerge from the analysis. The initial sample size will be five participants,

and additional participants will be recruited until saturation is reached. The inclusion criteria for

participants in this study are Grade 12 ABM students who have expressed interest in starting a

small business and those with some entrepreneurship knowledge or experience.

16
 Participants must meet the inclusion criteria or consent to participate to be included in the

study.

It is important to note that the sample size for this study is relatively small and may not

represent the entire population of Grade 12 ABM students. However, the goal of this study is not

to generalize the findings to the entire population but to provide insights into the perceptions and

experiences of a small group of Grade 12 ABM students interested in starting a small business.

Research Instrument & Validation

           The research instrument for this study will be a semi-structured interview guide

consisting of open-ended questions that will allow the participants to express their perceptions

and experiences regarding opening a small business. The interview guide will be designed

based on the conceptual framework and research questions. The questions will cover topics

such as the participants' motivations for starting a small business, their perceived barriers and

challenges, their knowledge and skills related to entrepreneurship, and the support they receive

from family and community.

The validation of the research instrument will be done through pilot testing with a small

group of Grade 12 ABM students who are not part of the actual sample. The pilot testing will

evaluate the interview guide clarity, relevance, and completeness. The feedback from the pilot

testing will be used to refine the interview guide and ensure that the questions are appropriate

and relevant to the research objectives.

18
 Furthermore, the reliability of the research instrument will be ensured by using a

standardized approach to conducting the interviews. The same researcher trained in conducting

qualitative interviews will conduct the interviews. A detailed interview protocol will be followed to

ensure that the questions are asked consistently to all participants.

Finally, data triangulation will be used to ensure the validity by combining data from

multiple sources, such as interviews with Grade 12 ABM students, and data from secondary

sources, such as academic articles and reports. The triangulation of data sources will help

establish the findings' credibility and trustworthiness.

Data Collection Procedure

           The data collection procedure for the study on Grade 12 ABM students' perceptions

towards opening a small business will involve conducting in-depth interviews. The sample will

be selected using purposive sampling, and the principle of data saturation will determine the

number of participants. The interviews will be conducted one-on-one with the participants and

recorded with their permission. The open-ended questions will focus on the participants' beliefs,

values, experiences, barriers, enablers, interests, and willingness to pursue entrepreneurship as

a career. The interviews will be conducted by the researcher, who has experience in qualitative

data collection and will take place in a private and comfortable setting to ensure the participants'

comfort and openness. The interviews will be transcribed verbatim and checked for accuracy by

the researcher. The data will then be analyzed using thematic analysis to identify common

themes

‘19
and patterns related to the research questions.

Data Analysis Procedure

 This study will qualitatively analyze the interview data gathered from Grade 12 ABM

students at ACLC College of Tacloban. The collected data will be transcribed, coded, and

analyzed using thematic analysis techniques to identify common themes and patterns in the

students' responses. The identified themes will be compared and contrasted to create a

conceptual framework that represents the factors influencing the perceptions of Grade 12 ABM

students towards opening a small business. The conceptual framework will provide a detailed

understanding of the perceptions and attitudes of the students towards entrepreneurship and

identify the factors that influence these perceptions, including personal and environmental

factors, educational backgrounds, and experiences in entrepreneurship. The results of this

study will contribute to the existing literature on entrepreneurship and inform future policies and

strategies aimed at promoting entrepreneurship among young adults.

20
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