Considering factors that influence entrepreneurship intention: perception of business opportunity, perception of business ability and fear of failure

Abstract

The objective of this study is to present the research results on the entrepreneurial intention of
adults. Structural Equation Modeling (SEM) was used to test the theories of a sample about 309 adults in
Ho Chi Minh City from October 14 to October 30, 2022. The results of the study show that there are three
factors directly affecting entrepreneurial intention: the perception of business opportunity has the highest
influence with 48.8%. Next is the fear of failure when starting a business, with 23.9% and the perception
of business ability accounted for 17.7% of the influence on the entrepreneurial intention of adults. Along
with that, the results also acknowledge two factors have an indirect impact on the intention to start a
business: social-cultural, and entrepreneurial competence. From the research results, the authors propose
some recommendations to (1) improve the awareness of business opportunities and the awareness of
entrepreneurship to support start-ups such as building training programs, business skills, and the ability
to operate business activities for people; and (2) reducing the fear of failure when starting a business by
improving the business environment and establishing a tectonic government, restoring business confidence
gradually