Financial Management Practices of Laundry Shops
DOI:
https://doi.org/10.55927/jfbd.v5i3.21Keywords:
Financial Management Practices, Laundry Shops, Budgeting, Record-Keeping, ControllingAbstract
This study assessed the financial management practices of laundry shop owners and managers in tuguegarao city, philippines. utilizing a descriptive quantitative research design with total enumeration sampling, data were collected from 90 laundry shop owners/managers through a structured questionnaire. the study examined seven key financial management dimensions: budgeting, record-keeping, controlling, cash management, debt management, risk management, and investment. results revealed that laundry shops generally practice sound financial management, with record-keeping (mean=3.70) and controlling (mean=3.70) being the most consistently practiced areas, followed by budgeting (3.60), risk management (3.60), and cash management (3.50). Significant differences in financial management practices were found based on years of operation, average monthly income, and number of daily operating hours, while no significant differences were observed based on form of business and number of employees.
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