Factors Influencing the Failure of Micro-Enterprises in Looc, Jagna, Bohol

Micro and small enterprises (MSEs) play a crucial role in job creation and contribute to societal progress and economic growth. In the Philippine economy, however, MSEs often exhibit lower productivity compared to large enterprises due to various obstacles. This study aims to identify the factors contributing to the failure of micro-enterprises in the Municipality of Looc, Jagna, Bohol, in 2024. The study examines the demographic profile of the owners and their perceptions of key factors contributing to business failure, focusing on management practices, financial management, and market management. The findings reveal that the majority of micro-enterprise owners are women aged 30-39, with a high school education, and most operate sole proprietorships, particularly in sari-sari stores and thrift shops. Using a convenience sampling method, a survey was distributed to 30 micro-enterprise owners. The study identifies poor management practices, inadequate financial record-keeping, and challenges in market management as the primary contributors to business failure. Notably, mismanagement emerged as the most significant factor, highlighting the need for improved financial tracking, budgeting, and market strategies. Addressing these challenges is essential for enhancing the survival and growth of micro-enterprises, which in turn will benefit employees, customers, suppliers, and the broader community. The study underscores the need for enhanced training in management, stronger financial oversight, and strategic market positioning to foster sustainable growth.