ENTREPRENEURSHIP EDUCATION AND MSME DEVELOPMENT: ASSESSING THE IMPACT OF HEIS' EXTENSION PROGRAMS ON LOCAL ECONOMIC SUSTAINABILITY IN BICOL REGION, PHILIPPINES

This study assessed the impact of Higher Education Institutions' entrepreneurship extension programs on micro, small, and medium enterprise development and local economic sustainability in Bicol Region, Philippines. The study aimed to determine the profile and effectiveness of extension programs, measure the extent of enterprise development, analyze the relationship between program effectiveness and development, identify implementation challenges, and propose an enhanced sustainable model. Anchored on Human Capital Theory, Triple Helix Model, and Experiential Learning Theory, the study employed a mixed-method descriptive-correlational research design. Micro, small, and medium enterprise beneficiaries from Malilipot, Tabaco City, and Tiwi, Albay, and extension coordinators were selected through purposive sampling. Data were gathered using a validated researcher-made questionnaire with a five-point Likert scale and a semi-structured interview guide. Quantitative data were analyzed using mean, standard deviation, and Pearson r correlation, while qualitative data were analyzed through thematic analysis. 
Results revealed that extension programs were Very Effective with a grand mean of 4.28, and enterprise development was at High Extent with a mean of 4.05. Marketing and innovation capability obtained the highest effectiveness rating, while business sustainability registered the highest development rating. A high positive significant correlation was found between program effectiveness and enterprise development. Lack of capital and limited follow-up were identified as major challenges. An Enhanced Sustainable Higher Education Institution-Micro, Small, and Medium Enterprise Extension Model was proposed to strengthen local economic sustainability.