Financial management practices and profitability of bakeshop in Panabo City

Abstract

This study aimed to determine the relationship between financial management practices and profitability of Bakeshop in Panabo City. A total of 70 employees of bakeshops were the respondents of this research. The statistical tools used were Mean and Pearson-r. Quantitative research utilizing the descriptive-correlation method was the research design used in this study. The study revealed that the bakeshops in Panabo City in terms of financial management practices is very high and yield an overall mean of 4.68 which means that the financial management is always practiced. In terms of the level of the profitability of bakeshops in Panabo City, it garnered also a very high result with 4.81 overall mean which means that the profitability of bakeshops is very satisfied and generates a higher return. Furthermore, the computed r-value between financial management practices and profitability is 0.381 associated with the p-value of 0.0001, which is lower than 0.05. Thus, the null hypothesis (Ho) is rejected which states that there is no significant relationship between financial management and profitability of bakeshops in Panabo City.