Eatery's financial survival strategies during phased reopening of pandemic : a case of Barangay Cabantian, Davao City

Abstract

COVID-19 is a formidable experience for most people, including eatery owners in Barangay Cabantian, Davao City. This research utilized a purposive sampling method to determine the obstacles encountered by eatery owners amid the coronavirus-19 pandemic. It also seeks to ascertain the financial strategies employed by eatery owners to keep the business going. The researcher used a semi-structured questionnaire to gather information from 9 restaurant owners specifically chosen to provide data. The obtained data revealed that sales inadequacy, income insufficiency, lack of budget, and scarcity of customers affected their operations. As a result of this scenario, eatery owners took action, including implementing a sustainable mechanism and engaging in formal and informal credits. It comprised strategies including reducing costs, diversifying through delivery and takeout options, and obtaining funding through both formal and informal methods. As a means of support, informal funding was typically utilized. Finally, they stated that the strategies employed were beneficial to their entire business operations and improved the well-being of eatery owners. This study sheds insight into the techniques used by eatery owners and shows the way for further research. This paper achieved the primary purpose of studying the financial strategies used by eatery owners to survive throughout the phased reopening of the pandemic.