Omila, Neil Gliann.
Financial strategies applied by small and medium enterprises as survival mechanisms from ecoonomic slump during the pandemic / Neil Gliann Omila, Jovy Ann P. Manigos, Michelle D. Pacquiao, Liera Mae O. Ynot, Chryss Disney T. Sumile. - Cebu City, Philippines : University of Cebu - Banilad, c2022. - x, 127 pages :
Abstract: Small and medium enterprises play a significant role in economic development and constitute the backbone of the economy. SMEs create jobs for the people in growing the economy. In contrast , the pandemic negatively impacts the small and medium enterprises' sustainability and survival. This study analyzed the financial strategies that small and medium enterprises in Mandaue City applied to survive amidst the economic slump brought by the COVID-19 pandemic.
The study used a descriptive survey method conducted among small and medium enterprises registered Business Processing and Licensing Office in Mandaue City. The respondents were 120 small and medium enterprise owners chosen and selected using stratified random sampling technique. This study further utilized a researcher-designed survey tool to collect essential information on small and medium enterprises' profiles and financial strategies to survive the economic slump during the COVID-19 pandemic. Simple percentages, weighted mean, and T-test were used to calculate and analyze the data.
The study disclosed that small and medium enterprises moderately apply financial strategies. There is no significant difference between the financial strategies used by small and medium enterprises (operation cost minimization and downsizing workforces) to survive the economic slump during the COVID-19 pandemic. Moreover, the researchers recommend proposed that the financial sustainability plan for small and medium enterprises may be adopted and implemented.
English
Business Financial Sustainability SMEs Financial Strategies Operation Cost Minimization Downsizing of Workforces COVID-19 Pandemic Descriptive-Correlational Study Mandaue City Philippines
Financial strategies applied by small and medium enterprises as survival mechanisms from ecoonomic slump during the pandemic / Neil Gliann Omila, Jovy Ann P. Manigos, Michelle D. Pacquiao, Liera Mae O. Ynot, Chryss Disney T. Sumile. - Cebu City, Philippines : University of Cebu - Banilad, c2022. - x, 127 pages :
Abstract: Small and medium enterprises play a significant role in economic development and constitute the backbone of the economy. SMEs create jobs for the people in growing the economy. In contrast , the pandemic negatively impacts the small and medium enterprises' sustainability and survival. This study analyzed the financial strategies that small and medium enterprises in Mandaue City applied to survive amidst the economic slump brought by the COVID-19 pandemic.
The study used a descriptive survey method conducted among small and medium enterprises registered Business Processing and Licensing Office in Mandaue City. The respondents were 120 small and medium enterprise owners chosen and selected using stratified random sampling technique. This study further utilized a researcher-designed survey tool to collect essential information on small and medium enterprises' profiles and financial strategies to survive the economic slump during the COVID-19 pandemic. Simple percentages, weighted mean, and T-test were used to calculate and analyze the data.
The study disclosed that small and medium enterprises moderately apply financial strategies. There is no significant difference between the financial strategies used by small and medium enterprises (operation cost minimization and downsizing workforces) to survive the economic slump during the COVID-19 pandemic. Moreover, the researchers recommend proposed that the financial sustainability plan for small and medium enterprises may be adopted and implemented.
English
Business Financial Sustainability SMEs Financial Strategies Operation Cost Minimization Downsizing of Workforces COVID-19 Pandemic Descriptive-Correlational Study Mandaue City Philippines