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Abstract
Efficient allocation of resources is a challenge for entrepreneurs. Income generated by entrepreneurs are used to finance both business and personal needs. At times, these needs exceed income generated and entrepreneurs seek financial assistance from microfinancing institutions. This paper looks at the significant influence of microfinance services extended to retail entrepreneurs of San Pablo City, Laguna and the extent retail entrepreneurs improve income generation from business operations. From the responses of the 100 selected entrepreneurs, answers for the following were drawn: (1) microfinance services offered to and availed by retail entrepreneurs; and (2) how income or operations have been improved. Correlation analysis revealed that microfinance services have significant influence on income generation. Furthermore, it is imperative that an active educational campaign on proper income management should be implemented in the locality.
Highlights
In the course of business activities, while it is assumed there is proper management and economical, efficient, and effective operations, the business organization can grow and prosper-without it the organization perishes [1]
The results is due to entrepreneurs’ immediate need of loan assistance for business operations and belief that their time should be focused in the day-to-day management of their business [7]
Entrepreneurs are primarily focused on availing insurances and loans from microfinance institutions
Summary
In the course of business activities, while it is assumed there is proper management and economical, efficient, and effective operations, the business organization can grow and prosper-without it the organization perishes [1]. Having efficient management means having sufficient funds that can sustain the cost of business operations. Entrepreneur’s income generation must be focused on continuous cash conversion and proper allocation. Efficient allocation of resources like business income is challenging to entrepreneurs. From regular business activities and other investments, serve as the fuel of day-to-day business and household expenditures. The most basic concept in accounting is the entity concept where business organization stands apart from other organizations and individuals as a separate economic unit [2]. Strategic techniques in intelligently planning on how to spend these resources should be employed aside from further development of self-discipline in money management
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