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The document provides recommendations to enhance financial management practices among micro-entrepreneurs, emphasizing the need for financial literacy training, increased awareness of investment opportunities, and structured financing practices. It suggests promoting proactive budgeting, strengthening government support, encouraging local consumer support, integrating real-world case studies in education, and expanding research on industry-specific financial practices. These measures aim to improve business growth and sustainability for small enterprises.

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melissaocamposanchez1007
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4 views

RECOMM

The document provides recommendations to enhance financial management practices among micro-entrepreneurs, emphasizing the need for financial literacy training, increased awareness of investment opportunities, and structured financing practices. It suggests promoting proactive budgeting, strengthening government support, encouraging local consumer support, integrating real-world case studies in education, and expanding research on industry-specific financial practices. These measures aim to improve business growth and sustainability for small enterprises.

Uploaded by

melissaocamposanchez1007
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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RECOMMENDATION

Considering that the study results showed that there is significant relationship between
financial management practices and business growth and sustainability, the following
recommendations are suggested:

1. Enhance Financial Literacy Training for Micro-Entrepreneurs. Given that investment


practices had the lowest implementation, micro-entrepreneurs should be encouraged to
participate in financial literacy programs that focus on investment strategies, risk
management, and long-term financial planning. Government agencies and private
institutions should collaborate to provide accessible training programs tailored to the
needs of small business owners.

2. Increase Awareness and Accessibility of Investment Opportunities. Since many micro-


entrepreneurs rarely consult financial advisors or explore investment alternatives,
financial institutions and business development organizations should offer mentorship
programs and advisory services. Providing simplified investment guides and one-on-one
consultations can help micro-entrepreneurs make informed decisions and maximize their
financial resources.

3. Promote Structured and Responsible Financing Practices. The study found that micro-
entrepreneurs still rely on informal lenders (e.g., 5/6) rather than banks and cooperatives
due to accessibility issues. Financial institutions should create loan products specifically
designed for micro-enterprises, featuring lower interest rates, flexible repayment terms,
and simplified application processes to encourage responsible borrowing.

4. Encourage Proactive Budgeting and Financial Planning. Since capital budgeting and
planning were among the most implemented practices, micro-entrepreneurs should
continue reinforcing structured financial planning. Local business organizations should
develop financial planning toolkits and digital tracking systems to help entrepreneurs
manage cash flow, set financial goals, and allocate resources efficiently.
5. Strengthen Government and Community Support for Financial Management. Local
policymakers should establish long-term programs that promote financial education,
provide funding opportunities, and encourage sustainable business practices. By fostering
a supportive business environment, small enterprises can gain better access to financial
resources and regulatory assistance.

6. Encourage Local Consumer Support for Micro-Enterprises. To enhance business


sustainability, community members should actively support local businesses. Initiatives
such as "Buy Local" campaigns can help create a stronger demand for products and
services from micro-entrepreneurs, leading to increased revenue and economic stability.

7. Integrate Real-World Financial Case Studies in Business Education. Since the research
found high implementation of financial control and cash management, educators should
integrate practical case studies into their curriculum to reinforce these concepts.
Analyzing real-life financial challenges and solutions will better prepare students for
managing business finances in their future careers.

8. Expand Future Research on Industry-Specific Financial Management Practices. Since


investment and financing practices varied across businesses, future researchers should
explore how financial management training affects business sustainability in different
industries. Further studies can identify industry-specific challenges and best practices to
help tailor financial programs for micro-entrepreneurs.

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