1
Financial Management among Sari-Sari Store Owners in Toril, Davao City
An Undergraduate Thesis Presented to the Faculty o the College o Accounting !ducation
Su"mitted #y$
Arcon, Cris %ouie S& Montante, 'eginald T&
() - *+
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ABSTRACT
In the Philippines, existence of sari-sari stores can be seen anywhere. anywhere. Along with that, issues are also prevalent. When a company experience losses, they can no longer cope to it and end up to termination of its existence because of its poor financial management. This paper aims to determine the level of financial management among sari sari store owners in Toril, Toril, !avao "ity. !ata was gathered from #$$ %ari-%ari store owners by the use of survey &uestionnaire. Their level of awareness for 'inancial (anagement were analy)ed by the use of mean, profile of the respondents were measured measured by fre&uency fre&uency and null hypothesis was tested by the use of '-test. The result of this study revealed that in terms of sex, financing and operating show that male or female have significant difference on financial management. In terms of the age, financing, operating and investing show no significant difference. *astly, in terms of educational attainment, it shows that the three variables agreed that there is a significant difference. As a whole, the researcher found out that there is significant difference between the level of 'inancial (anagement and the respondent+s respondent+s profile. profile. eywords 'inancial 'inancial management, t-test, sari sari store owners, owners, Toril, Toril, !avao "ity, Philippines
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CHAPTER 1 INTRODUCTION Rationale of the Study
Small and Medium !nterrises are very oular and can "e a great actor in an economy esecially in a develoing nation .'ama/rishnan, *(01& Dierent literatures concerning on small irm2s inancial management have a great num"er and studied "y dierent researchers and are comle3 in nature& A study made "y 4aida and Chand .*(*1 ocused mainly on the several ro"lems that would aect the survival and e3istence o "usiness "ut orget to include the actors aecting the inancial management and "road on its nature& 5ome6 .*(*1 emhasi6ed the lac/ o training o sari 7 sari stores and the si6e o it to comete with other /inds o esta"lished "usiness& 8hile a study "y 8il/ie .*(*1 said that most stores have insuicient und due to lac/ o investment and conscious rice entrereneur would li/e to "uy goods at historical cost or them to gain at the same time& For this research aer, we would li/e to concentrate to a retail "usiness seciically called sari 7 sari store and the level o inancial management alied "y store owner o it, to imrove the /nowledge a"out inancial management o small enterrise and i inancial management sari 7 sari store owners in Toril, Davao City conorm with the inancial management o dierent laces&
Objectie of the Study
This study will determine the level o Financial Management o Sari-Sari Store owners in Toril, Davao City& Seciically, this study will see/ to achieve the ollowing o"9ectives$
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(& To determine the roile o Sari-Sari Store owners in terms o$ (&( Se3 (& Age (&0 !ducational Attainment & To determine the level o Financial Management in terms o$ &( :nvesting & Financing &0 Oerating 0& To determine the signiicant dierence "etween the level o Financial Management and the resondents2 roile Re!ea"ch Hy#othe!i!
•
There is no signiicant dierence "etween the level o inancial management and the resondents2 roile&
Si$nificance of the Study
The study o Financial Management on Sari-Sari Stores in Toril, Davao City can "e relevant to the "usiness management& This study can "e helul in dierent /inds o "usiness seciically small enterrises& :n addition, this study will "e "eneicial to the ollowing$ Sto"e O%ne"!& The result o the study will "e rimarily "eneicial to them which
would hel store owners in their decision ma/ing as they manage their "usiness& &utu"e Ent"e#"eneu"!' The result o the study will encourage uture entrereneurs
having a small "udget to engage to "usiness and can have an idea on how to start their own "usiness& (endin$ Co)#any& The result o the study will widen their /nowledge in terms o
small enterrises in ac;uiring o unds&
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Cu!to)e"! & The result o the study will ma/e the "usiness eective and eventually
the customers will "e served accordingly and satisactorily& The Re!ea"che"!' The result o the study will give /nowledge to them as the
researchers would want to have their own "usiness and on how to ma/e an eective inancial management& Othe" Re!ea"che"' The result o the study will hel other researcher on their uture
studies as reerence& Definition of te")! Sa"i*!a"i !to"e 7 reer to microenterrise with no emloyee and having a starting
caital asset o PhP 0,*** or less& &inancial +ana$e)ent 7 it is an alication o management s/ills and /nowledge
"eing alied "y the owners in governing their "usiness in terms o investing, inancing and oerating& To"il, Daao City 7 it is a lace in the Philiines, Mindanao area secially located in
Davao City District 0 where the study was conducted& P"ofile 7 ersonal identiication o resondents that may aect the inancial
management alied corresonding to se3, age and educational "ac/ground&
CHAPTER RE.IE/ O& RE(ATED (ITERATURE
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Related (ite"atu"e!
This section eatures dierent studies regarding the eect o owners roile secially age, gender and educational "ac/ground in inancial management, level o inancial management and the dierence o owners roile towards the level o inancial management& The deinition o inancial management and some ro"lems encountered o it is irst discussed& The owners2 roile secially age, gender and educational "ac/ground that may aect inancial management is thoroughly reviewed& 4e3t, the level o inancial management o sari-sari store owners& %astly, the dierence o sari 7 sari store owners roile towards the level o inancial management& &inancial +ana$e)ent' Meredith .**01 said that inancial management is
one o the areas o management which lay the undamental role to the ulillment o any small "usiness& :n addition, Peel, Poe and 8ilson .**(1, inancial management and roita"ility can also "e called as li;uidity and roita"ility& Amin .*(*1 ac/nowledged that there are trou"les "eing aced "y :ndian retailers that hold "ac/ their success& :ndustry in :ndia aced lac/ o ower suly, lac/ o credit management and corrution& Small "usinesses li/e retail store really aid a nation on its escalation& The si6e doesn2t matter "ecause it allows le3i"ility and more raidly decision - ma/ing "ecause o its distinctiveness o innovation, drive and cometence .
1& Owning a small "usiness has an advantages and disadvantages& Advantages li/e one can2t ire you? one decides your wor/ schedule, gain thorough understanding and
oortunities
a"out
"usiness&
Disadvantages
li/e money
and
savings
consumtion, demanding duties and unli/a"le e3erience losing caital .Collins,
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*(01& : a small enterrise "e unsuccessul, the ma9or causes is lac/ o lanning, unacceta"le inancing and oor management& 8hen starting a small "usiness, there are only two ossi"ilities, achievement or ailure& #ecause o its si6e, mismanagement will certainly result its own death and it cannot learn rom its own mista/es .%ongenec/er , Moore and Palich, **>1& A$e' 5enerally, traditional amily "usiness that can "e considered ailed still
"eing sustained "y middle and old-aged retailers& Their urose is not or earnings anymore "ut to carry on their amily legacy .8atson and !verett, (+++1& The tyical lie o a small "usiness is @ years& A inding says that +* o the ailed "usinesses are less than (* years& An age o a "usiness certainly associated to ailure .Peterson and Shulman, (+B01& The research in the Organi6ation or !conomic Co-oeration Develoment .*(1 who ound out that "ecause o limited wor/ e3erience, young eole ace more ro"lems than older men "elieving that they have stronger attachment to the world o "usiness& 0ende"' 5ender is another demograhic issue which could inluence credit
management ractices along with micro-enterrises& al/ias .**B1 ostulated that in relation to entrereneurial connection and "usiness ossession, there is still an imortant and methodical ga "etween genders& !vans and 8inston .**B1 made a similar claim to that o al/ias .**B1& :n their study on loan delin;uency among small "usiness owners in 5hana, they initiate that single college educated women managed their credit more ractically than "oth men in general and married women& :n **0, a"out (,((,>B or 0>&B ercent o total emloyment women articiated in la"or orce and 0*&0 ercent o it are women entrereneurs .Arias,
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**1& 'ichardson .**)1 comared women to men in Arica& 5ender doesn2t matter "ut women have inerior access to their own resources, timely "usy and less access to ormal education and s/ills training& Oortunities to women are much lower than men and they aced harder access to suort&
ractices is aected "y the education achieved o the resondent which concludes that i you have high level o attained education, you have suerior credit management& Osman .**@1 o Malaysia ound out that retailers tyically don2t have a roer education so they end u in an esta"lished amily-tye "usiness& A study in :ndia discovered that more retailers are undergraduate .Selva/umar = Muthumoni, *((1& According to
have a cash management rogram to send aroriately the resources it has and to roerly assign it to the oeration& :nvesting roerly the cash li/e savings accounts, certiicates o deosit, treasury "ills, reurchase agreements, commercial aers, shares, "onds and other investments to avoid cash surlus and ma/e the most o its asset& Small "usinesses must invest their resources as it should "e "ecause they are at ris/ to "an/rutcy and should generate ositive cash lows .8ellalage and %oc/e,
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*(*1& Small "usinesses should invest urther on ;uality they are giving to customer "ecause customer contentment will "e a great advantage in their oeration .Foreman 7 Pec/, **@1& According to Eeitun, Tian and 1& O#e"atin$' 'etailers have the inluence to ind its own sulier& 'etail and
suliers should "uild a good connection "ecause they "oth concerned channeling o goods .Pearson, *(01& :n a study made in :ndia, the outcome shows that greater art o retailers with B>&@* rocure raw materials rom oen mar/et& 'etailers should "e convenient and reare lans li/e roer store atmoshere, roduct variety and rocurement and suita"le lacement o roducts within the retail store& .Selva/umar = Muthumoni,*((1& According to Pamaos .*()1, sari-sari stores get their sulies rom "agsa/anG or middlemen who get their sulies rom the sulier in "ul/ with normal and "ul/ discount& For Selva/umar and Muthumoni .*((1, to articiate with cometitors, retailers should "e e3clusive and aroriate to customers2 needs& The "asic retailing aroach is giving the uermost ;uality to the customer? it will erectly lead the retailer to success& 'eyes .*(1 mentioned that small "usiness owners should "e amiliar with how to manage the outlow o their inventories, how much to accumulate and goods should "e "ought on time& Further, 4ielsen .*(1 imlied that sari-sari store owners
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should innovate "ecause o ast develoment o convenience store, a sti cometition is resent& Sari-sari stores should manage with the ast varying taste o the customers& :n :ndia, small enterrises have a uni;ue advantages li/e it ocus more on somewhat small mar/et and acilitate an eective usage o resources o caital and s/ills which might remain unutili6ed& .Shah and 1 According to 'ichardson .**)1, in Eam"ia, eole would rather decide to unction in an inormal "asis "ecause it2s easier to trade outside the ormal ramewor/s or registration, ta3ation and regulation& For 'ama/rishnan .*(01, most o the small enterrises unction wea/ "ecause it lac/s roer comutation o total e3enses, total revenue, roit etc&, or they do not /ee an organi6ed record& &inancin$& :n ac;uiring source o unds or small "usiness, it is a steady
diiculty to them most o the time& This might "e due to the small aroval rate o the "an/s& #esides, deaults o the good comanies is due to the "orrowers who use the unds or ersonal "eneits at e3ense o the comany which caused the "an/s now to "e more vigilant in reviewing loans to lessen deaults& :n Central #an/ o Malaysia, they introduced a micro-inance illustration which is suited or small "usiness in the state o Malaysia that constitutes B* o the "usiness& .Aris, **1 The scheme o 'm @** to 'm @*,*** with no collateral desired& owever, roer credit management is innate or solvency and continued e3istence o microenterrises& .Aris, **1 :t will develo credit worthiness which imroves uture inancing accessi"ility& .Assel"ergh, **1 The ma9or source o caital or their enterrise is "orrowing or even own savings in Micro-enterrises in Malaysia& .5an"old, **B1 Malaysian microenterrises contended that the trou"le aced in o"taining inancing included inade;uate inancial trac/ record and insuicient documents to suort loan
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alications& .Aris, **1 Small enterrise is a roita"le mar/et and it can "e develo more "y unloc/ing its otentials& 4ations are now lending to this /ind o enterrise .:nternational Finance Cororation, *(*1& :n Australia, government and industry give attention to small "usinesses as a new avenue "ecause o its great otential in the industry .Coulton, **1& Caital start-u doesn2t matter "ecause in Malaysia small and medium enterrise is considered as the "ac/"one o the industry "ecause o its continual contri"ution to the e3ansion o their economy .Aris, **1& Financing a "usiness, an owner should have a good standing in which it is their source to cover the unds needed .Miculeac, *(01& Theo"etical &"a)e%o"
O/oye and !6ugwu .**+1 studied that roile such as age, gender and educational "ac/ground o the owner o an enterrise have an imlication on their management& 8ith e3osure to undamental ractices o management, it imarts ositively on the erormance o the "usiness& #ased on their study, they ound out that se3ual characteristics do not inluence the level o s/ills "ut educational accomlishment do& Their learning will "e the theoretical oundation to veriy the level o inancial management among sari-sari store owners in Toril, Davao City&
Conce#tual &"a)e%o"
Owner’s Profle • • •
Age Sex Educa!onal Aa!n"en
#e$el o% &!nanc!al 'anage"en • • •
(n$es!ng &!nanc!ng O)era!ng
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&i$u"e 12 Conce#tual &"a)e%o" !ho%in$ the a"iable! of the !tudy
This ramewor/ would merely ela"orate the study o level o inancial management among sari-sari stores in Toril, Davao City& The 3 varia"les o this study are the sari-sari store owner2s roiles which comrise the age, gender and educational "ac/ground& The level o inancial management may vary deending on the age o the sarisari store owners& :t2s li/e age which will hel determine how e3erienced they were as an owner and how they aly inancial management to their store& Male and emale have dierent ercetion a"out a "usiness and they "oth have their wea/nesses and strengths when ma/ing a decision& :n the level o inancial management, gender will "e a great actor to the magnitude o alication& %astly will "e the educational attainment& School learning will enhance the /nowledge on how to roerly aly the inancial management& !ducational attainment esecially when an owner is a roessional has great actor& %evel o inancial management in terms o investing, inancing and oerating should "e measured& These terms will "e the "asis on how to roerly aly inancial management& :nvesting will measure how an owner will use its asset to grow much aster in a roer venture and e3ercising the most otential eort o an asset& Financing will measure how to ac;uire own resources and the ris/s o it& Oerating will measure the roductivity o the "usiness& CHAPTER 3 +ETHODS
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This section resents methods and rocess in terms o research design, research resondents, research instrument, data gathering rocedures and the statistical tool& The researcher also identiied the roile o the resondents and the eriod that the study was conducted& All the stes are e3lained "ased on interview and o"servation in the conduct o data gathering& Re!ea"ch De!i$n
This study used the descritive 7 survey method in designing the research as most aroriate& According to Huen, Schidmt and Terao .*(01, descritive study uses techni;ues which involve comarison grous to roduce a samle and rovide seciic and clear inormation regarding the study& This is to o"tain inormation concerning the status o the henomena and to descri"e with the condition o the situation& Descritive studies evaluate the resem"lance and distinction among henomena to ind out i certain actors or situation tend to accomany certain dealings, circumstances or rocesses& Re!ea"ch Re!#ondent!
The resondents were (** sari-sari store owners residing in Toril, Davao City& As the resondents, they were chosen "asically "y the availa"ility and nearest to the roonents& 'esearchers aimed to /now the level o inancial management among sari-sari store owners in Toril, Davao City& Re!ea"ch In!t"u)ent!
This study used ;uestionnaire as the rime source o inormation in gathering data to meet the seciic o"9ectives "y listing ;uery which was duly validated and resented or relia"ility& The drat o the ;uestionnaire was constructed "y the researcher and the revisions were adated&
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These lists o ;uestions were distri"uted to owners which were illed "y their corresonding answers in the ;uestions& There were ;uestions as/ed irst with their ersonal inormation, saving caa"ility, to "udget their sources, ayment o de"ts and income generation&
Data Interpretation
*ange o% 'eans
+escr!)!on
4,21 - 5,0
.er/ !g
(ner)rea!on Sar!-Sar! sore owner as excellen
)rac!ce and nowledgeale
o%
fnanc!al
"anage"en 3,40 - 4,20
!g
Sar!-Sar! sore owner as $er/ good
)rac!ce and
nowledge
o%
fnanc!al
"anage"en 2,61 - 3,40
'oderae
Sar!-Sar! sore owner as adeuae
)rac!ce and
nowledge
o%
fnanc!al
"anage"en 1,81 - 2,60
#ow
Sar!-Sar!
sore
owner
as
arel/
adeuae )rac!ce and nowledge o% fnanc!al "anage"en
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1,00 - 1,80
.er/ #ow
Sar!-Sar!
sore
owner
as
l!le
adeuae )rac!ce and nowledge o% fnanc!al "anage"en
Data 0athe"in$ P"ocedu"e
The rocedure was systematically arranged in ac;uiring inormation rom the resondents& The ollowing are the acilitated stes ollowed "y the researchers in gathering o data$ (& The researcher as/ed ermission to every store owners to conduct study through visiting the location and "y showing the letter o aroval or or in;uiry which will "e done rom the eriod o Fe"ruary, *()& & The researcher conducted an initial interview with the owner o the sari-sari stores on the same day& The discussion would "e a"out the "asic inormation a"out the "usiness and a"out customers2 inormation& 0& Ater the initial conversation, the researcher will start to distri"ute the ;uestionnaire to the resondents with corresonding seciication that is relevant to the conduct o research& The owner e3lained to the researcher their low o every transactions and the inormation gathered served as the additional data or the study& )& The researcher "rowsed the internet or inut inormation that is signiicant and will suort the study& The data gathered are related on the inancial management& :n achieving the o"9ective o this study, the researcher will use li"rary techni;ue through research "y the use o "oo/s, 9ournals, and rior thesis samles in gathering data as a source o inormation and the related studies o inancial management on sari-sari stores& Stati!tical Tool
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This study emloyed statistical treatment such as Fre;uency and Percentage, Mean, F-test and Descritive Analysis& These tools were used to identiy whether to accet or re9ect the null hyothesis& The ollowing tools were used in this study$ &"e4uency and Pe"centa$e & This tool was used in the study to get the
summari6ed num"er o the same grou o resondents rom the total resondents& :n this study, it was used to determine the roile in terms o age, se3 and the educational attainment o the resondents& Percentage was used to identiy its ortion in (** ercent& +ean& This was used to determine the level o Awareness o Financial
Management& This is to identiy the average o the resonse o the resondents according to the indicators such as always, sometimes, hal, seldom and never& &*te!t' This was used to determine the level o inancial management in a
"usiness& This is to identiy i there is signiicant dierence "etween the level o inancial management in terms o investing, inancing and oerating to the roile such as age, gender and educational attainment o the owner&
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CHAPTER 5 RESU(TS AND DISCUSSION
This chater shows the results o the survey conducted "y the researcher and its ollowing discussions& A summary o the demograhic characteris tics .5ender, Age and !ducational Attainment1 o the resondents are reorted in the irst arts& Then the second art shows level o awareness o inancial management o the sari 7 sari store owners in terms o investing, inancing and oerating& %astly, it shows the correlation "etween the sari 7 sari store owners2 roile and their level o awareness o inancial management& TAB(E 1
De!c"i#tie .a"iable 0ende" Male Female TOTA( A$e (+-@ >-0 00-0+ )*-)> )-@0 @)->* >(-> >B-) TOTA( Educational Attain)ent !lementary %evel !lementary 5raduate igh School %evel igh School 5raduate College %evel College 5raduate
Re!#ondent!6 P"ofile &"e4uency 7f8
Pe"centa$e 798
(* +* 1::
(* +* 1::9
( ( 0 (> (+ + 1::
( ( 0 (> (+ + 1::9
> 0 ( ) + @
> 0 ( ) + @
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Iocational TOTA( 1::9
(
( 1::
Out o one hundred resondents, ma9ority .+*1 were emale sari 7 sari store owners& Females having +* dominated the total owners surveyed and only (* were males& This igure really shows women are more active in engaging to sari-sari store "usiness& This conorms to what B or 0>&B ercent o total emloyment women articiated in wor/orce and 0*&0 ercent o it is women entrereneurs, surely women are active in "usiness&
#ut it contrasted to 'ichardson, .**)1
comared women to men in Arica& 5ender doesn2t matter "ut women have has lower access to their own resources, timely "usy and less access to ormal education and s/ills training& Oortunities to women are much lower than men and they aced harder access to suort& Ages rom )* 7 )> are the most active in engaging to sari 7 sari store "usiness while the ages rom >B 7 ) are the least active& This shows that most Filiinos are active to engage into sari 7 sari store "usiness at this stage& :n suort to the research in the Organi6ation or !conomic Co-oeration Develoment .*(1 who ound out that "ecause o limited wor/ e3erience, young eole ace more ro"lems than older men "elieving that they have stronger attachment to the world o "usiness& :t contrasted to the study o 8atson and !verett, .(+++1 that mostly traditional amily "usiness that can "e considered ailed still "eing continued "y middle and old-aged retailers& Their o"9ective is not or roit anymore "ut to continue their amily legacy&
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More than a ;uarter .+1 o the resondents surveyed were College level, telling that most o entrereneurs engaged in sari 7 sari store "usiness have the "asic education and uninished college education needed to run their "usiness& College levels are now more active in sari 7 sari store "usiness& According to .
Ta"le shows that sari 7 sari store owners o Toril, Davao City were aware on how they are running the sari 7 sari store "usiness& They are not 9ust engaging their caital or nothing& According to Pourgha9an and Ea"ih .*(01, managing inancial resources lays imortant role on "uilding roita"le organi6ation& TAB(E (eel of A%a"ene!! of &inancial +ana$e)ent of Sa"i ; Sa"i Sto"e O%ne"!
Financial Management Iaria"les
Mean
Descritive %evel
:nvesting
0&B
igh
Financing
)&0
Iery igh
Oerating
0&B
igh
20
0"and +ean
3'<=
Hi$h
:nvesting has a mean score o 0&B with a descrition o high& An imlication o this inding is that sari7sari store owners have very good ractice and /nowledge o inancial management in terms o investing& Financing has a mean score o )&0 with a descrition o very high& An inerence o this result is that sari7sari store owners have e3cellent ractice and /nowledge o inancial management in terms o inancing& Oerating has a mean score o 0&B with a descrition o high& An inerence o this inding is that sari7sari store owners have very good ractice and /nowledge o inancial management in terms o oerating& #ased on results, the overall inancial management among sari-sari store owners in Toril, Davao City has an overall mean o 0&+& According to Eeitun, Tian and 1& Financing a "usiness, an owner should have a good standing in which it is their source to cover the unds needed .Miculeac, *(01&
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TAB(E 3 Si$nificant Diffe"ence bet%een the (eel of &inancial +ana$e)ent and the Re!#ondent!6 P"ofile
%evel o Financial Proile
Se3
t-value
P-Ialue
:nterretation
:nvesting
(&B
*&
4ot Signiicant
Financing
(&++0
*&*)+
Signiicant
Oerating
@&+0
*&*(
Signiicant
Management
F-Ialue
Age
!ducational Attainment
:nvesting
*&)++
*&B00
4ot Signiicant
Financing
(&*B@
*&0+
4ot Signiicant
Oerating
*&>>@
*&*(
4ot Signiicant
:nvesting
*&B@>
*&*0@
Signiicant
Financing
*&+
*&*(
Signiicant
Oerating
*&+@
*&**0
Signiicant
:n terms o gender, there is no signiicant dierence "etween investing and se3 o the resondents which signiies that whether male or emale, it has no dierence "etween them& For inancing and oerating or the se3 o resondents, there is signiicant dierence "etween them& 5ender really matters and there will "e a great dierence "etween male and emale& This result was agreed earlier where gender roles on SM!2s erormance has develoed considera"ly over (@ years .Carter, **(1& And
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it conorms to what
CHAPTER >
23
&INDIN0S, CONC(USION AND RECO++ENDATION
This chater resents the rundown o the research done, the conclusions drawn and the recommendations made as an outgrowth o this study& Su))a"y &indin$!
(&
#ased on the roile o Sari 7 sari store owners, it showed that emale sari 7
sari store owners dominate or have greater num"er comared to the male one& Sari 7 sari store owners were mostly run "y owners aging rom )* 7 )> which are middleage eole& #ased on the data gathered, sari 7 sari store owners in Toril, Davao City are mostly college level& &
Sari 7 Sari store owners in terms o investing and oerating showed high level
o inancial management which means, sari 7 sari store owners in Toril, Davao City has very good ractice and /nowledge o inancial management& 8hile in inancing, it resulted in a very high which means sari7sari store owners have e3cellent ractice and /nowledge o inancial management& 0&
Signiicant dierence was esta"lished "etween resondent2s educational
attainment and in gender in terms o inancing and oerating with the sari-sari store owner2s inancial management& :n contrast, there is no signiicant dierence esta"lished on the other varia"les under study& :t imlies that regardless o resondents2 age, their inancial management is the same& Conclu!ion
#ased on the inding stated, the ollowing general and relevant conclusions were drawn& :t2s showed that most o the resondents were emale and accordingly, engaged to "usiness o sari 7 sari store since naturally women are devoted, more careul and thrity& This e3lanation will "e suorted according to were ound as most
24
owners o the "usiness& This simly ela"orate that aside rom having another source o income, this age would thin/ o saving or their uture and to "e insured or having an easy-made "usiness or them to "e roductive or ecuniary interest& Due to the diiculty o having a 9o", college level individual would ac;uire this /ind o "usiness& According to
#ased
on
the
indings
and
conclusions
resented,
the
ollowing
recommendations are given$
•
That the inancial management among sari-sari store owners in Toril, Davao
•
City should "e maintained and imroved or uture urose& Future entrereneurs should attend various trainings and rograms organi6ed "y government or other "odies? this will hel them olish more their inancial management and decisions&
25
•
For the lending comany, this will "e the "asis or them to have an oen arms
•
relation to lend or the starting caital to sari-sari store owners& Customer should "uild more close relation and trust with them as it goes to show that sari-sari stores in Toril, Davao City have high inancial management& This would result to greater income or owners and hi/e to
•
economic a"undance as a whole& These enumerated guidelinesKolicies with regard to inancial management may "e o hel to those who are currently sari-sari store owners in Toril,
•
Davao City and to the researchers who lan to ut u a "usiness& Future researchers may conduct research to veriy the soundness o the indings o this study&
