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.
Material type:
TextPublisher: Cebu City, Philippines : University of Cebu - Banilad, c2022Description: x, 127 pagesContent type: text Media type: unmediated Carrier type: volumeSubject(s): Business Financial Sustainability | SMEs | Financial Strategies | Operation Cost Minimization | Downsizing of Workforces | COVID-19 Pandemic | Descriptive-Correlational Study | Mandaue City | PhilippinesSummary: 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.
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Periodicals | T Om5fi 2022 (Browse shelf) | Not for loan | 3UCBL000026732 |
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.
Biore, Christopher College of Business and Accountancy BSBA-Management Accounting
English
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