Journal of Social and Political Sciences

Encouraging entrepreneurship, especially start-up activities for young people, is regarded as a kernel of economic growth and employment creation. In this study, the research team examines factors affecting the “Entrepreneurial readiness of Gen Z in Hanoi City” by collecting the survey data of 299 young people of Gen Z in Hanoi City and putting in analysis 295/299 collected questionnaires about the effects of factors. 6 factors “Attitude toward entrepreneurship”, “Subjective norms”, “Perceived behavioral control”, “Attitude toward money”, “Entrepreneurship education”, and “Aspiration to succeed” are put in the examination of impacts on the factor “Entrepreneurial readiness of Gen Z in Hanoi City”. 3 factors “Aspiration to succeed”, “Attitude toward money”, and “Attitude toward entrepreneurship” have the highest average scores of 4.04, 3.96, and 3.94, respectively. 2 factors “Entrepreneurial readiness of Gen Z in Hanoi City” and “Entrepreneurship education” have the lowest average scores at the same level of 3.53. This study attempts to determine the impact of factors and raise awareness of young people, Gen Z in Hanoi City in particular and in Vietnam in general to be more precise, about entrepreneurship and entrepreneurial readiness. From that, exchanges and discussions to enhance the sense of responsibility and spirit of young people as the kernel of the nation’s future are drawn.


Introduction
Examining a startup is not merely about the foundation of a new business but needs to be considered in the whole process from intention to action (Hisrich, R.D., & colleagues, 2013).Accordingly, the entrepreneurial intention is the first stage of startup activity (Anderson, A.R., & Jack, 2000), which represents the individual's willingness to perform the behavior and is the direct premise of behavior (Ajzen, I., 1991).This article focuses on investigating factors affecting the entrepreneurial readiness of Gen Z in Hanoi City with targets: (1) Identifying factors affecting the entrepreneurial readiness of Gen Z; (2) Measuring average scores of factors on entrepreneurial readiness of Gen Z in Hanoi City; (3) Proposing remedies to equip necessary knowledge, skills and evoke entrepreneurship of the youth.

Theoretical Basis of starting a business
There are many approaches to the definition of startup.According to Kolvereid Lars (1996), startups attach to the term "Self-employment".Starting a business is the career choice of people who are not risk-averse, own their businesses, and hire others to work for them (Greve, A., Salaff J.W., 2003).Employing is understood as an individual who will work for a business or organization owned by others, so starting a business means being self-employed and hiring others to work for you.In the field of economics and business administration, starting a business is associated with the term "Entrepreneurship", which is an individual taking advantage of market opportunities to create a new business (Lowell W.B. et al. 2003), or a working attitude that emphasizes independence, autonomy, creativity, innovation, risk-taking, creating new value in the existing business (Bird, 1988); is innovative, is a style of perception and thinking (Canses Tican, 2019).
With the research team's approach: Startups are taking advantage of market opportunities to start a new business, to be a master -run the business yourself or hire a manager, to bring value to yourself as well as many benefits to society.

Theoretical Basis of entrepreneurial readiness
Entrepreneurial intention can be defined as an orientation process of making a plan and executing a plan to start a business (Gupta, W.B., & Bhawe, N.M., 2007).An individual's entrepreneurial intention starts from realizing the opportunity and exploiting available resources and support from the environment to create his or her own business (Kuckertz, A., & Wagner, M., 2010).
Within the levels of behavioral intention, readiness is defined to a higher degree, with more preparation."Readiness" is the state of being prepared for a specific situation, circumstance, event, or possibility.Intent expresses an individual's level of readiness and is the direct premise for the performance of the behavior (Ajzen, I., 1991).
In this study, entrepreneurial readiness is defined as an awareness of the level of commitment and willingness for new business activity.

Factors affecting the entrepreneurial readiness of young people
Through overview, the research team determined 6 factors affecting the entrepreneurial readiness of Gen Z in Hanoi City, and we generalized them in Table 1.The data collection method was carried out by the research team based on Convenience sampling and Snowball sampling (the method of finding the next subjects based on the suggestion or recommendation of the interviewees) to ensure a sufficient amount of required sample size.There are 299 collected survey forms and 295 valid forms that were analyzed.

Data Analysis Method
The research team used Likert 5 scale in building the questionnaire with 1. Strongly disagree; 2. Disagree; 3. Neutral; 4. Agree; 5. Strongly agree.To evaluate the level of influence of each factor, the research team determined the distance value and average value of each factor as well as which response threshold the average score lies in.

Survey participants
There were 299 young people of Generation Z in Hanoi City participated in the survey, of which 295 valid survey forms were included in the analysis.Among 295 eligible respondents, 223 were undergraduates (75,6%) and 72 were high school students.And of these 295 young people, 196 were female (66,4%) and 99 were male (33,6%).

Level of influence of factors
The "Attitude toward entrepreneurship" factor The survey results indicate that all scales of the Attitude toward entrepreneurship factor have the "Agree" evaluation threshold.Among these, the TDKN3 scale has the highest average score of 4.169, and the TDKN4 scale has the lowest average score of 3.78.
The "Subjective norms" factor The survey results indicate that, in 5 scales of the Subjective norms factor, only the CCQ4 scale has the "Neutral" evaluation threshold, while 4 other scales have the "Agree" evaluation threshold.The CCQ2 scale has the highest average score of 3.908, and the CCQ4 scale has the lowest average score of 3.214.The survey results indicate that all scales of the Perceived behavioral control factor have the "Agree" evaluation threshold.The NTKS5 scale has the highest average score of 4.051 and the NTKS1 scale has the lowest average score of 3.62.

The "Perceived behavioral control" factor
The "Attitude toward money" factor The survey results indicate that all scales of the Attitude toward money factor have the "Agree" evaluation threshold.The TDTB2 scale has the highest average score of 4.092 and the TDTB3 scale has the lowest average score of 3.807.
The "Entrepreneurship education" factor The survey results indicate that, in 4 scales of the Entrepreneurship education factor, only the GDKN3 scale has the "Neutral" evaluation threshold, while 3 other scales have the "Agree" evaluation threshold.The GDKN1 scale has the highest average score of 3.675, and the GDKN3 scale has the lowest average score of 3.386.
The "Aspiration to succeed" factor The survey results indicate that, in 4 scales of the Aspiration to Success factor, only the KVTC2 scale has the "Strongly agree" evaluation threshold, while 3 other scales have the "Agree" evaluation threshold.In detail, among scales of dependent variables in specific and 25 scales of 6 independent variables in general, the KVTC2 scale has the highest average score of 4.261 and is the only scale reaching the "Strongly agree" evaluation threshold.
The "Entrepreneurial readiness of young people" factor According to the graph, the SSKN3 scale has the highest average score of 3.576, and the SSKN2 scale has the lowest average score of 3.447.

Average values of factors
Source: Calculations from survey results According to the graph, all average values of variables lie in the range between 3.5 and 4.1.The Aspiration to Success factor has the highest average value of 4.04.Entrepreneurship education and the Entrepreneurial readiness of young people dependent variable have the lowest average values at the same level of 3.53.

Discussion and Conclusion
From survey results of factors affecting the entrepreneurial readiness of Generation Z in Hanoi City, the research team proposes several suggestions: -Aspiration to succeed is the factor having the highest average score.To promote the role of this factor, families, schools, and vocational guidance centers should educate students about the importance of having sound and feasible targets.At the same time, they should take measures to encourage and support students when facing obstacles.Young people should proactively set targets in each period for themselves to acquire motivation and not give up their passion halfway.Besides, students and undergraduates should form sound living rules and disciplines to improve themselves.In this study, we interviewed and received responses from many young people about this factor such as "I believe that my advantage if I start up a business is that I have spirit, zeal, aspiration, and the youth passion fostering me to rise…" -Families, schools, and vocational guidance centers should pay more attention to educating personal financial management, or basic economic issues to form students and undergraduates a judicious attitude toward money like appreciating, allocating reasonably, saving, or attempting to make labor values.
Relevant ministries and authorities should develop investment funds for start-ups of young people.Moreover, they should enforce policies supporting young people who have passion and entrepreneurial intentions with finance or legal procedures.Students and undergraduates themselves should be aware that the lack of capital is an obstacle that they need to overcome when starting a business.From that, young people should equip knowledge, skills in Finance, and a precise plan for contingencies.The research team received many responses from young people participating in the interview about this factor such as "In my opinion, disadvantages when starting a business are a tight budget, the lack of experience, and the difficulty to balance learning time…", "I don't have enough potential to ensure the financial security to take care of my life if the start-up is not successful".-Schools and vocational guidance centers need to intensify establishing information channels (Fanpage, consultative link…) to clear young people's inquiries when starting a business, share the experiences of young people who started a business, and help them investigate legal corridors that relate to startup, intellectual property,... From that, young people can have a more precise and optimistic attitude toward entrepreneurship.-To promote the role of the Entrepreneurship education factor, curricula of students and undergraduates should be allocated more duration for experiential learning activities such as market surveying and contacting with enterprises.Along with organizing regular consultations, discussions, and communication with businesses for young people to accumulate experiences, and to encourage their entrepreneurial spirit as well as raise their awareness of self-competence.

Conclusion
This study is part of a series of the research team's studies from simple to specialized about the entrepreneurial readiness of Generation Z in Hanoi City.Future papers will be carried out with modern quantitative analysis tools which have high accuracy and reliability to suggest the direction of science-based development and, from that, enhance the sense of responsibility and spirit of young people as the kernel of the nation's future.

Table 1 :
Factors affecting the entrepreneurial readiness of young people.After building the questionnaire, the research team interviewed specifically 5 young people in Hanoi City who have been starting businesses.The questionnaire was improved based on the interviewees' suggestions; then, the research team surveyed randomly 10 young people.The preliminary results of the survey show that opinions agree with factors put in the model.Based on the preliminary results of the survey, the research team perfected

Table 2 :
Level of influence of the "Attitude toward entrepreneurship" factor

Table 3 :
Level of influence of the "Subjective norms" factor Source: Calculations from survey results

Table 4 :
Level of influence of the "Perceived behavioral control" factor Source: Calculations from survey results

Table 5 :
Level of influence of the "Attitude toward money" factor Source: Calculations from survey results

Table 6 :
Level of influence of the "Entrepreneurship education" factor Source: Calculations from survey results

Table 7 :
Level of influence of the "Aspiration to succeed" factor Source: Calculations from survey results

Table 8 :
Level of Influence of the "Entrepreneurial Readiness of young people" factor Source: Calculations from survey results