Influence of Entrepreneurial Potential Competencies and Characteristics on the Entrepreneurial Intention of Next Generation Entrepreneurs

The agribusiness industry is experiencing a serious problem that needs an urgent solution – a drastic reduction in youth participation in the industry and, in particular, next generation entrepreneurs. A quantitative research design was employed to investigate the influence of entrepreneurial potential competencies (EPC) and entrepreneurial characteristics (EC) on the entrepreneurial intention (EI) of next-generation entrepreneurs in Region XI. 300 next-generation entrepreneurs who, in their senior years in the agribusiness management course, were purposively selected and surveyed using an adapted questionnaire. Descriptive statistics were used to analyze the status of the entrepreneurial intention, potential competencies, and characteristics. At the same time, regression analysis was utilized to examine the influence of EPC and EC on EI. The findings indicated high entrepreneurial intention, entrepreneurial potential competencies, and entrepreneurial characteristics. The regression analysis showed that both EPC and EC influenced EI. EPC was the most influential factor of EI. The next generation of entrepreneurs is interested in starting an enterprise and becoming entrepreneurs with the skills, self-confidence, and attitudes needed to succeed in business. Highlighting continuous entrepreneurial education, practical experience in entrepreneurship, and a positive attitude towards entrepreneurship to the next generation of entrepreneurs would influence their intention to pursue an enterprise.