Year: 2026
Type: article
Abstract: Micro and small enterprises (MSEs) benefit the country’s economic growth but face various challenges particularly socioeconomic factors. This study investigates the socioeconomic conditions of the MSEs in the Municipality of Tagbina, Surigao del Sur, Philippines focusing on the demographic and business profiles, challenges, and awareness of laws intended for these enterprises. Descriptive method was utilized using self-made survey questionnaire and data were collected from 165 MSEs situated in various locations in the municipality. Results of the study revealed that Barangay Barangay Poblacion is the center for trade, operated predominantly by female entrepreneurs, over 50 years of age and are married having one to two dependents. Most owners are bachelor’s degree holders. Majority of MSEs in the area is in line with “sari-sari stores”, operating for one to three years, and are home-based. These enterprises are mostly registered, earning less than ₱5,000 (Philippine currency) monthly, and support their business operations come from personal savings. High competition is identified as the primary challenge of MSEs in the area. Moreover, owners had limited training, operated based on personal knowledge. Financial planning management, marketing and sales as support services are the challenges they have identified. Further, most of these entrepreneurs are not fully aware of the laws and its implementing rules and regulations governing MSMEs. This highlights the need to create an effective community extension program focused on providing support for existing and aspiring entrepreneurs. The study suggests further studies of the socioeconomic determinants affecting the growth of local MSEs. This will facilitate comprehensive analysis and deeper understanding to address their needs.
Institution: North Eastern Mindanao State University-Tagbina
Language: English
Subfield: Business and International Management
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W7203620657