Philippine E-Journals

Financial Management Performance Among Aquaculture Community

JOHN KENNETH BERRO | JETHRO PORRAS | MARIA FE PANTUHAN | NOEL BITANCOR

 

Abstract:

Lack of knowledge of financial management combined with the business environment’s uncertainty often leads small businesses to serious problems regarding financial performances. The study aimed to examine the level of financial management performance in cash management among Nasipit and Carmen’s aquaculture communities. The study used the descriptive survey method, wherein the researchers conducted a survey using a set of questionnaires given to the respondents. Most of the farmers are still on the five years and below in the said aqua farming business. Then, as to training and seminars attended, most of them have less training or just three and below numbers of training attended. Therefore, it justifies the results for a statement of the problem number to the extent of financial management performance that they sometimes practiced financial management. Thus, showing the irregular period of doing financial management practiced. Therefore, it resulted in inefficient and ineffective handling of financial resources, which may cause a high risk of business failures and lower income. It was recommended that the Bureau of Fisheries and Aquatic Resources conduct training and seminars on advanced technology regarding aqua farming to enhance farmers’ skills in maximizing their earning capacity.