The assessment of the financial literacy level of micro-entrepreneurs: a basis for proposed financial management primer / Donna Rose B. Compra, Vince Julius C. Duaban, Christine Joy Lanaban, Dave Israel B. Cajes, John Michael Niño C. Yanoyan.
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TextPublisher: Cebu City, Philippines : University of Cebu - Banilad, c2021Description: xi, 155 pagesContent type: text Media type: unmediated Carrier type: volumeSubject(s): Financial literacy | cash management | cost and expense management | debt management | micro-entrepreneurs | descriptive study | Brgy. Guizo | Mandaue City | PhilippinesSummary: Abstract: Micro-enterprises are considered to be the backbone of the Philippine economy. They substantially contribute to the Philippines' gross domestic product, economic growth, and employment creation. This study aimed to assess the financial literacy level of micro-entrepreneurs in Barangay Guizo, Mandaue City, Philippines, in cash, costs and expense, and debt management.
This research applied the descriptive-survey research method and was conducted among the DTI-registered micro-enterprises in Barangay Guizo, Mandaue City. The respondents were 76 micro-entrepreneurs and were chosen using the random sampling technique. This study utilized a researcher-made survey tool to gather vital information on micro-entrepreneurs' profiles and their level of financial literacy. The researchers have adhered to the ethical principles of autonomy, beneficence, non-maleficence and justice. Simple percentage, arithmetic mean, and chi-square test of independence were used to treat the gathered data.
The study revealed that micro-entrepreneurs have a low level of financial literacy in cash, costs and expense, and debt management. There is a significant relationship between the nature of the business activity, forms of business organization, and the number of years in operation to the entrepreneur's level of financial literacy. On the other hand, the number of employees and location of the enterprise have an insignificant relationship to their level of financial literacy. The researchers strongly recommend that the national and local government units develop an inclusive program that helps micro-entrepreneurs address their low levels of financial literacy to increase their financial skills and competencies. Future studies should be conducted to support the results of this paper by widening its scope by considering other municipalities, cities, and regions in the Philippines and delving into other financial literacy indicators.
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Periodicals | T C73as 2021 (Browse shelf) | Not for loan | 3UCBL000026719 |
Abstract: Micro-enterprises are considered to be the backbone of the Philippine economy. They substantially contribute to the Philippines' gross domestic product, economic growth, and employment creation. This study aimed to assess the financial literacy level of micro-entrepreneurs in Barangay Guizo, Mandaue City, Philippines, in cash, costs and expense, and debt management.
This research applied the descriptive-survey research method and was conducted among the DTI-registered micro-enterprises in Barangay Guizo, Mandaue City. The respondents were 76 micro-entrepreneurs and were chosen using the random sampling technique. This study utilized a researcher-made survey tool to gather vital information on micro-entrepreneurs' profiles and their level of financial literacy. The researchers have adhered to the ethical principles of autonomy, beneficence, non-maleficence and justice. Simple percentage, arithmetic mean, and chi-square test of independence were used to treat the gathered data.
The study revealed that micro-entrepreneurs have a low level of financial literacy in cash, costs and expense, and debt management. There is a significant relationship between the nature of the business activity, forms of business organization, and the number of years in operation to the entrepreneur's level of financial literacy. On the other hand, the number of employees and location of the enterprise have an insignificant relationship to their level of financial literacy. The researchers strongly recommend that the national and local government units develop an inclusive program that helps micro-entrepreneurs address their low levels of financial literacy to increase their financial skills and competencies. Future studies should be conducted to support the results of this paper by widening its scope by considering other municipalities, cities, and regions in the Philippines and delving into other financial literacy indicators.
Biore, Christopher College of Business and Accountancy Accountancy
English
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