Assessing the Financial Challenges of Food Businesses in Gumaca, Quezon: A Foundation for Strategic Growth and Sustainability
Journal Title: Psychology and Education: A Multidisciplinary Journal - Year 2025, Vol 36, Issue 3
Abstract
This study assessed the financial challenges faced by food businesses in Gumaca, Quezon, as a foundation for strategic growth and sustainability. Specifically, it examined the demographic profile of business owners, identified key financial difficulties, analyzed differences in challenges based on business characteristics, and proposed a strategic framework to address these concerns. A quantitative method approach using descriptive comparative research was employed, utilizing surveys with local food business owners. Findings revealed that most food businesses in the area are small enterprises, predominantly street food stalls, operating under sole proprietorship with a limited workforce. Financial challenges were prevalent, particularly in securing capital, managing cash flow, covering operational costs, complying with regulatory requirements, and competing in the market. Notably, catering services faced greater struggles in accessing funding and managing cash flow compared to other business types. However, no significant differences in financial challenges were observed when grouped by years of operation, ownership structure, or workforce size, indicating that financial constraints affect businesses across all categories. To address these issues, a Strategic Growth and Sustainability Framework was developed, emphasizing financial literacy, improved funding access, cost management, regulatory support, and enhanced market competitiveness. The study recommends targeted interventions from business owners, local government units, financial institutions, and educational organizations to foster financial stability and sustainable growth in the local food industry.
Authors and Affiliations
Syrel Paulite , Melchor Espiritu
Keywords
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- EP ID EP768022
- DOI 10.70838/pemj.360309
- Views 11
- Downloads 0
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