Name

Course & Year

Date
Activity 11
.
Draft 1

: Bendiola, Ivan C.
: BSA-3
: September 29, 2015
: Abstract
.

Financial Literacy in Micro-Enterprises:

The Case of Cebu Fish Vendors
Abstract
A myriad of reasons explain the performance of business ventures; one of these is the
possession of skill in managing the financial affairs of those ventures. While the lack or
deficiency of it may be detrimental to larger enterprises, the effect could be much more
disadvantageous to small or micro enterprises. This study assesses the financial skills of fish
vendors in Pasil, the main fish distribution and trading center in Cebu City, Philippines. This
study used simple random sampling to obtain 123 respondents and adopted a 95% level of
confidence on statistical tests. Findings show that vendors who do not record nor keep record of
transactions, do not monitor profit and loss, and have deficient cash management practices.
Furthermore, most vendors are confined to high interest loans. They also have limited access on
the effective means of acquiring funds or capital for their respective business. The government
should help the fish vendors establish linkage to organizations with aligned advocacy.