The influence of financial planning on the performance of fruit vendors in IGACOS

Abstract

This study aimed to assess the influence of financial planning on the performance of fruit vendors in IGACOS. This study utilized a non-experimental quantitative design using the descriptive correlation technique that seeks to explain, discuss, and analyze the influence of financial planning on the performance of Fruit vendors in IGACOS. The researchers used an adapted and validated survey questionnaire with a 5-point Likert scale to gather the needed data. The data collected were analyzed using appropriate statistical tools, including weighted mean and Pearson product-moment correlation coefficient (Pearson-r). Fifty-four fruit vendors participated in the study through a survey questionnaire. Findings revealed that the level of financial planning and performance of fruit vendors on the Island is high. Thus, this study revealed that financial planning and the performance of fruit vendors have a significant relationship. This result means that financial planning positively influences fruit vendors' performance. This study recommends that business owners engage in financial planning activities since this will positively influence their business. Local Government Unit is also recommended to conduct financial planning workshops for fruit vendors. Also, the fruit vendors must constantly engage in financial planning activities and attend various financial planning workshops. This research recommends that future researchers use other research designs, such as experimental designs, consider other factors affecting financial performance, and consider choosing larger respondents.