Business literacy and financial inclusion of street vendors / [manuscript]
Lilibeth B. Abes
- Balanga City : BPSU, 2020.
- xi, 154 pp. ; 28 cm.
- Business literacy and financial inclusion of street vendors .
Thesis (MBA) BPSU, 2020.
It is generally known that putting up a business has been a dream for so many people. Consequently, and apparently, money has always been regarded as an important component in every man's economic decision such as how much to save, spend, and invest. However, not all those engaged or those who would want to engage in a business are knowledgeable of the technicalities of banking schemes. With this reason small-scale businessmen do not approach banks for financial or profit security. The most notable of these small-scale businessmen are the street vendors who play a significant but frequently unappreciated role in both the vibrancy of public spaces as well as the informal economy. The descriptive method of research was deemed appropriate to use for the present study since the study aimed to gather information about present existing conditions. The aim of the descriptive method is to describe the nature of a particular phenomenon, which in the case of the present study, is the financial literacy and inclusion of street vendors in Limay, Bataan. It is important that facts like age, educational attainment and more be identified to be able to construct business policies that will protect street vendors and enable peddlers to gain access to banking schemes. Furthermore, stratified random sampling was the technique used in identifying the respondents for the study. The questionnaire consists of three parts: the first part is about the personal information of the respondents; the second part of the survey contains items that identify the financial literacy of street vendors in terms of management skills, marketing literacy, financial literacy and socio-economic literacy; and the third part of the tool aimed to identify the financial inclusion of street vendors in terms of ease of credit, availability of services and usage of financial services. The statistical software called IBM-SPSS Statistics version 21 vi vi was used to provide significance or probability values. The weighted mean was used to described the levels of business literacy and financial inclusion of street vendors. Independent samples t-test and Analysis of Variance (ANOVA) were used to determine if there is significant difference on business literacy and financial inclusion when the respondents are grouped according to profile. Results show that 18 or 29% of the respondents are male while 45 or 71% are female. In terms of age, 37 or 59% belong to 25-50 years old. With respect to civil status, 43 or 68% are married. With reference to highest educational attainment, 36 or 57% of the respondents attained high school. In terms of daily earnings, 36 or 57% have daily earnings of not more than Php1000. With respect to capital investment, 48 or 76% have a small capital of Php1000 and below. In terms of vending category, 43 or 68% are semipermanent. With regard to the number of years as street vendor, 23 or 37% are vending for more than 10 years. It was concluded that there is no significant difference in the business literacy of the respondents when they are grouped according to profile. There is no significant difference in the financial inclusion of the respondents when they are grouped according to profile. Based on the findings, the following are recommended: street sellers should have bank accounts for their financial security; the formation of a vendor federation supporting street vending activities in the informal sector is the need of the time; the Municipality of Limay should be responsible for properly managing the informal sector in the barangays and should provide formal vending regions to the people involved in the street vending so as that the street vendors to do not create disorganization of the streets; lastly, that the LGU of Limay should run skill development programs for the vendors.