Financial management practices and profitability among agri-vet suppliers in Panabo City

Abstract

This study investigates the relationship between financial management practices and profitability among Agri-vet suppliers in Panabo City. 9 owners of the Agri-vet suppliers were the respondents of this research. The researchers used descriptive correlation methods and sampling techniques to determine the number of respondents. The statistical tools used were Mean and Pearson r. Despite the small sample size of 9 respondents, the result revealed that the financial management practices of Agri-Vet suppliers in Panabo City in terms of investment practices, liquidity statements, financial control, and financial reporting practices was very high, with an overall mean of 4.22. Agri-Vet suppliers' profitability level in Panabo City in terms of inventory holding period, accounts receivable period, and accounts payable period was high, with a mean of 4.03. The study revealed no significant relationship between financial management practices and profitability among Agri-Vet suppliers in Panabo City. The computation of the R-value of 4.63 associated with the P-value of .209 is higher than 0.5. Thus, the null hypothesis (Ho) is accepted. The study recommends a holistic approach to improving profitability, encompassing market enhancements, financial education, and enhanced resource accessibility. Emphasizing the importance of strength and sustainability in business practices, the findings underscore the need for a comprehensive strategy to improv