Version 1
: Received: 16 October 2024 / Approved: 17 October 2024 / Online: 17 October 2024 (08:23:10 CEST)
How to cite:
DOMINGO, A.; PRADO, J. P. Financial Management Practices and Challenges Among Food Cart Businesses in Nueva Ecija, Philippines: Insights and Implications. Preprints2024, 2024101342. https://doi.org/10.20944/preprints202410.1342.v1
DOMINGO, A.; PRADO, J. P. Financial Management Practices and Challenges Among Food Cart Businesses in Nueva Ecija, Philippines: Insights and Implications. Preprints 2024, 2024101342. https://doi.org/10.20944/preprints202410.1342.v1
DOMINGO, A.; PRADO, J. P. Financial Management Practices and Challenges Among Food Cart Businesses in Nueva Ecija, Philippines: Insights and Implications. Preprints2024, 2024101342. https://doi.org/10.20944/preprints202410.1342.v1
APA Style
DOMINGO, A., & PRADO, J. P. (2024). Financial Management Practices and Challenges Among Food Cart Businesses in Nueva Ecija, Philippines: Insights and Implications. Preprints. https://doi.org/10.20944/preprints202410.1342.v1
Chicago/Turabian Style
DOMINGO, A. and JOHN PAUL PRADO. 2024 "Financial Management Practices and Challenges Among Food Cart Businesses in Nueva Ecija, Philippines: Insights and Implications" Preprints. https://doi.org/10.20944/preprints202410.1342.v1
Abstract
This study assessed the financial management practices and challenges of food cart businesses in Cabanatuan City, Nueva Ecija. The study used a descriptive research design and structured surveys and questionnaires to gather quantitative data from 20 food cart businesses. The data were analyzed using statistical tools such as weighted means, frequencies, and percentages to provide a comprehensive overview of these small enterprises' financial practices and challenges. Key findings highlight that while many businesses demonstrate basic financial literacy, significant gaps exist in financial record-keeping, budgeting, and revenue management. The study emphasizes the importance of improving these practices to ensure the sustainability and growth of food cart businesses. The research contributes to the broader discourse on small business management and economic development by identifying common challenges and offering targeted recommendations. The findings underscore the need for targeted interventions, such as financial training and policy support, to enhance the financial acumen of food cart owners. This study adds to the existing body of knowledge as it provides practical insights that can benefit business owners, policymakers, and community stakeholders in fostering a more resilient and economically vibrant local economy.
Keywords
Financial Management; Food Cart Businesses; Cabanatuan City; Small Business; Descriptive Research
Subject
Business, Economics and Management, Business and Management
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
