^STATUS OF FINANCIAL MANAGEMENT SYSTEMS OF MICRO BUSINESSES IN TAGUDIN, ILOCOS SUR^ Dominador A. Ayson Jr., Rosemarie J. Pascua Felix M. Del Rosario
Ilocos Sur Polytechnic State College
Abstract
This study, ^Status of Financial Management Systems of Micro Businesses^ investigated the status of micro businesses as well as assessed the outputs and impacts of micro enterprises in the province of Ilocos Sur. Profiles of micro businesses were assessed particularly on the manager-related, personnel/worker-related and business-related factors. The management status along Financial Management were investigated and explored. The study also looked into the degree of seriousness of the problems encountered by the micro businesses in Ilocos Sur.
One hundred eighty two (182) micro enterprises registered and assisted by the Department ad Trade and Industry- Province of Ilocos Sur were the subject of this study. One hundred eighty two (182) business owners/managers, one hundred seventy-eight (178) personnel/workers and one hundred (100) clients from the different cities and municipalities of Ilocos Sur are the respondent of the study.
The descriptive correlational method of research was employed. The data gathering instruments used in the study were structured questionnaires constructed by the researcher. The quantitative data gathered in this study were treated statistically with the used of frequency count, percentage, mean, simple correlation and multiple regression.
In general, the status of Financial Management system is perceived by the managers/owners and personnel/workers at ^Moderate^ as backed up by overall mean rating of 3.40. This implies that micro enterprises in Ilocos Sur find some problems in implementing its financial management activities. The study revealed that there was a significant relationship between the status of management Systems of the micro enterprises in Ilocos Sur and the profile of micro enterprises in Ilocos Sur along manager/owner-related factors, personnel/worker-related factors and business-related factors.
Keywords: micro business, financial management systems
