Micro and small enterprises (MSEs) create jobs at a low cost and contribute to society’s progress toward growth. In the Philippine economy, micro, small, and medium enterprises (MSMEs) continue to be significantly less productive than large enterprises due to a variety of obstacles. Jagna, Bohol, one of the fast-rising municipalities in the province, is among the central economic hubs, offering various job opportunities and a suitable environment for business development. This study aimed to identify the factors influencing the failure of micro-enterprises in the Municipality of Looc, Jagna, Bohol, in 2024. It examines the demographic profile of the owners and their perceptions of key failure factors, including management practices, financial management, and market management. The study revealed that the majority of owners were women aged 30-39 with a high school education, and most operated as sole proprietors, particularly in sari-sari stores and thrift shops. A convenience sampling method was used, and a survey questionnaire was distributed to 30 micro-enterprise owners. The study found that management practices, financial management, and market competition were the primary factors contributing to the failure of micro-enterprises. Notably, mismanagement was identified as the most significant factor, particularly poor financial record-keeping, underscoring the need for better financial tracking and budgeting. Additionally, market management emerged as a considerable challenge, with poor location and inadequate infrastructure negatively affecting sales and competitiveness. These challenges highlight the importance of addressing poor management, weak financial practices, and ineffective market strategies. By resolving these issues, micro-enterprises can improve their chances of survival and growth, benefiting their employees, customers, suppliers, and the local community. The study underscores the need for enhanced training in management, stronger financial oversight, and strategic market positioning. Such efforts can reduce failure rates, enhance the sustainability of micro-enterprises, and support economic progress in Looc, Jagna, and the broader community.
Cano et al. (Sat,) studied this question.